As we head into 2025, hiring the right candidate and preparing new leaders for success remains a priority for organizations. Even if you have a high performer on your team who you feel will fill the leadership role well, helping them transition from team member to leader is critical for their success.
The sobering fact is 60% of new managers fail within the first 24 months in their new role, according to research from CEB Global. That’s an astounding number, and the consequences of those failures not only impact your new leader, but the organization itself, and this impact can have long-lasting consequences.
According to Forbes, when a transitioning leader is struggling, their direct reports perform 15% worse on average than those who report to a high-performing manager. They’re also 20% more likely to leave the organization or be disengaged, according to the Gartner consulting firm.
These are important considerations because, as Helios HR suggests, there are three significant costs associated with replacing an experienced employee:
- the cost of covering the position while it is vacant
- the cost of finding a replacement
- the cost of training and acclimating the new person to the position and team
Combined, these costs can total hundreds of thousands, if not millions of dollars, depending on the organization’s current turnover rate and the types of positions being lost. Further, “a conservative estimate is 30% annual salary to replace a lower-skilled, entry-level employee, to as much as 250% of an annual salary to replace a highly specialized or difficult-to-replace position.”
This emphasizes the importance of setting leaders – new and seasoned – up for continued success.
Helping ensure success for leaders
Offering professional development for your new leaders can prove to be invaluable for preparing new talent for their role in leadership. Additionally, providing opportunities for your seasoned leaders to enhance their skills proves beneficial as well.
For sure there isn’t a one-size-fits-all perfect style and method of leadership. Different individuals, teams, and circumstances require different personalities and skills. Studies have shown that emotional intelligence, especially self-awareness, reflection and a keen sense of discernment are among the most important skills for good leaders. Additionally, leaders who listen well, address conflict, and read others well are the ones who develop relationships that lead to performance. Being a great leader also requires skills like humility, compassion, gratitude, and more.
A good, comprehensive professional development program can help new leaders identify their leadership strengths as well as areas they can improve and grow. Innovative Connections has a proven curriculum and decades of experience that equips leaders with the skills, knowledge, and mindset they need to navigate the challenges of their roles effectively.
Here are some ways Innovative Connection’s customizable leadership development programs help new (as well as seasoned) leaders succeed
Elevates confidence in leadership ability and decision-making skills – Leadership development provides a structured pathway that helps leaders feel more confident and prepared to take on responsibilities. Through experiential learning techniques, individuals learn problem-solving frameworks and practice their decision-making skills helping them gain the confidence to lead with clarity.
Enhances communication skills – Leaders learn how to communicate effectively with diverse stakeholders, ensuring their vision and directives are clearly understood. In addition to effective communication, our programs encourage active listening, tapping into empathetic communication, helping leaders build trust and fostering strong relationships and collaboration.
Expands emotional intelligence – Leaders become more self-aware, learning to identify and manage their emotions, which helps them communicate effectively and remain composed under pressure. Training also fosters the ability to understand and address the concerns of team members, creating a supportive work environment.
Promotes strategic thinking – Leaders become adept at aligning team goals with the organization’s mission and vision. It also encourages them to think beyond day-to-day tasks, focusing on long-term growth and success.
Strengthens team management skills – Leadership training emphasizes the importance of delegation and empowerment, enabling leaders to assign tasks effectively and trust team members to execute them.
Improves conflict resolution – Leaders learn skills to address conflict promptly and appropriately, fostering harmony and productivity within teams.
Develops strong change leaders – Training prepares leaders to manage uncertainty and adapt to rapidly and constantly changing circumstances. It also encourages them to view challenges as growth opportunities, fostering a growth mindset.
Aligns leadership with organizational culture – Training instills organizational values, ensuring leaders' actions align with the company’s mission. This helps leaders understand and embody the culture, improving team cohesion and morale. When a leader leads by example, their teams are more likely to follow suit.
Provides practical tools and frameworks – Leaders learn strategies to prioritize effectively and manage competing demands.
Reduces Risk of Burnout – Programs provide mindfulness techniques and tips for maintaining healthy work-life balance to help leaders and their teams avoid burnout. The program also helps leaders develop and strengthen support systems that often include resources like coaching, mentoring, or wellness programs to help leaders thrive.
Organizations that are proactive in addressing these issues and invest in leadership development programs set a solid foundation for new leaders to thrive, enabling them to perform confidently, build effective teams, and drive organizational success.
We're here to help
We understand the future promises nothing more than continual, rapid change, and we know that change is hard. We also know that creating environments of trust and psychological safety amid this rapid change is equally, if not more, daunting. We would love to walk with you as you work to provide your leaders with the tools to meet these challenges and to successfully build their skills as they engage, motivate and transform their teams.
If you are struggling with any aspect of your organization, we’d love to talk about how professional coaching, leadership development, team building, or strategy planning sessions can help you find a successful and sustainable way forward. Contact us for a free consultation by clicking this link: Innovative Connections or calling us at 970-279-3330.