How to Set New Executives Up for Success
Are you doing everything you can to create a culture that sets new executives in your company up for success? Or, do you have a record of fast-tracking them for failure?
It’s an all-too-common scenario in companies across America. A company “rock star” gets promoted to a senior position, only to flounder in the new role. Or, someone who had an outstanding track record in another organization comes on board at a new company. Expectations are high and the future looks bright—and then that person fails to live up to expectations.
In fact, according to Ron Carucci, a recent guest on my Talking Business Now podcast, 50% of all new executives fail—and they fail fast, usually within 18 months.
Carucci, the managing partner of Navalent and the co-author of “Rising to Power: The Journey of Exceptional Executives” conducted a 10-year study on executive transition. His research not only discovered the rates at which new executives fail but also the reasons why they fail. One eye-opening insight is that 61% of those who failed said they weren’t prepared for the challenges, and 71% said their organization didn’t help them prepare.
The study also revealed the four characteristics of rising leaders who beat the odds and thrived. Tune into the podcast to find out those key determiners of success and how your company can build a culture that supports them.
Kelly Scanlon is a business owner, publisher, podcast host, past chair of the National Association of Women Business Owners and lifelong small business and entrepreneur advocate.
She currently owns Interrobang Solutions, a company that provides writing, editing and other professional publishing services for companies. Interrobang Solutions is also the producer of Kelly’s podcast, “Talking Business Now.”
For more than 20 years, Kelly owned Thinking Bigger Business Media, Inc., a company that publishes and produces a variety of publications, products and events that connect growth-minded business owners with practical strategies, resources and information that will take them to the next level of success. She sold Thinking Bigger in March 2018.
Kelly serves on a variety of local, regional and national boards designed to advocate and assist small businesses. She currently serves on the board of directors for the NAWBO Institute for Entrepreneurial Development, is a co-chair of the Women’s Foundation Patron Committee, and is a director on Country Club Bank’s metro advisory board.
In the past, Kelly has been involved with numerous local and national boards and committees, including a 5-year term on the national board of directors for the National Association of Women Business Owners, serving as board chair in 2010-2011. Kelly was recognized in August 2011 on a list published by Forbes as one of the “Top 25 Women Tweeting About Entrepreneurship.” Some of the other awards she has won include the 2011 United Nations NGO Positive Peace Award on behalf of Kansas City area small business owners; U.S. Small Business Administration’s 2009 Region VII Women’s Business Advocate (for Kansas, Missouri, Iowa and Nebraska); and numerous others.
She currently owns Interrobang Solutions, a company that provides writing, editing and other professional publishing services for companies. Interrobang Solutions is also the producer of Kelly’s podcast, “Talking Business Now.”
For more than 20 years, Kelly owned Thinking Bigger Business Media, Inc., a company that publishes and produces a variety of publications, products and events that connect growth-minded business owners with practical strategies, resources and information that will take them to the next level of success. She sold Thinking Bigger in March 2018.
Kelly serves on a variety of local, regional and national boards designed to advocate and assist small businesses. She currently serves on the board of directors for the NAWBO Institute for Entrepreneurial Development, is a co-chair of the Women’s Foundation Patron Committee, and is a director on Country Club Bank’s metro advisory board.
In the past, Kelly has been involved with numerous local and national boards and committees, including a 5-year term on the national board of directors for the National Association of Women Business Owners, serving as board chair in 2010-2011. Kelly was recognized in August 2011 on a list published by Forbes as one of the “Top 25 Women Tweeting About Entrepreneurship.” Some of the other awards she has won include the 2011 United Nations NGO Positive Peace Award on behalf of Kansas City area small business owners; U.S. Small Business Administration’s 2009 Region VII Women’s Business Advocate (for Kansas, Missouri, Iowa and Nebraska); and numerous others.
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