Coaching is the one component of employee retention that is most overlooked and underused. The cost of replacing a high level executive now approaches almost 50% of their salary, not including any additional compensation packages. In other words, to replace a $200K salaried executive it will cost you $100K. Coaching for Performance costs for that same executive costs a company approximately $9-$12k per year. As reported in the article, “Can Coaching Help Your Business” (TheStreet.com (02/24/09), investing in executive leadership development can bring about a positive impact on an organization when it is particularly needed. Your under performing executives or other personnel in key roles can benefit from working with a one on one coach.
Innovative Leadership’s coaching program provides certified coaches who have extensive management experience and can relate to the pressures being placed on your leadership in these tough economic times. Our coaches use a unique process to get results while coupling the achievement with enhancing leadership skill-sets by incorporating Leadership Training into the one-on-one equation. We work with your leaders to develop their leadership competencies and skill-sets to compliment their decision-making abilities, and interpersonal responsiveness to their board and management team, while getting them to focus on the metrics that make a difference. Achievement is the result of effective planning and the proper implementation of a plan while monitoring the progress so that course corrections can be made along the way. Our Coaches directly work with you to design the plan, implement the strategy, formulate the metrics for success, and work with you to monitor the results.
You’re losing valuable money when an executive is replaced; stop this vicious circle with Coaching and Training. It really is priceless.
Showing posts with label executive turn over. Show all posts
Showing posts with label executive turn over. Show all posts
Thursday, April 23, 2009
Monday, April 14, 2008
Top End Turnover
Corporate Executives are on the move…..out the door. CEO turnover increased by 50% in 2007 compared to the previous year. Nearly a third of the departures were against the CEO’s will. The average tenure of CEO’s is down almost 25%. Tradition reasons accounted for some of the terminations but non-traditional reasons accounted for majority of departures. Turnover was highest in the telecommunications industry and financial services businesses. It should also be noted that this group also includes companies involved in the sub-prime meltdown.
In a separate survey printed in the Philadelphia Bizjournal (October 26-November 1, 2007), the CEO’s were asked to rate their own strengths and weaknesses with the following results:
Ranking
Strengths Weaknesses
Vision 1 6
Sales and Marketing 2 (tie) 5
Product Innovation 3 3
Managing People 2 (tie) 4
Information Technologies 5 2
Financial Strategies 4 1
It appears that the CEO has the vision but doesn’t always get there. I question whether or not the CEO has created a “dashboard” for himself that reflects both strengths and weaknesses and is using metrics to formulate benchmarks and to consistency re-evaluate his plan of action and implementation process along the way. It seems like many CEO’s are stuck when it comes to both the planning and implementation process. The statistics tell me that the CEO has a strong sense of awareness but for some reason the plan and implementation process are not giving the CEO the desired results.
I wrote a previous Blog on the formation of “dashboards” and this data tends to lend credence on the fact that CEO’s may not be focused on not only the “things that matter most”, but also don’t measure and monitor the metrics or trends that define the success of the organization. It could also relate that other key members of the executive leadership team are focused on the results that their departments contribute to the overall success of the organization. Sounds like our alignment with strategic objectives must be off or even non-existent. IF the disconnect occurs between the CEO and the people who work in the organization, then the end result is a “disconnect” between the CEO and the Board of Directors resulting in termination or resignation. Basically, we are back to the old adage, “Is it the People or the Process?” You can blame it on one or the other, but it is usually a combination of performance and people resulting in an ineffective process of measurement.
CEO’s better learn how leading companies measure performance and offer a goal and results-oriented culture. Ok, CEO’s, “Start your engines, monitor your dashboard, and stay focused on the finish line”…
In a separate survey printed in the Philadelphia Bizjournal (October 26-November 1, 2007), the CEO’s were asked to rate their own strengths and weaknesses with the following results:
Ranking
Strengths Weaknesses
Vision 1 6
Sales and Marketing 2 (tie) 5
Product Innovation 3 3
Managing People 2 (tie) 4
Information Technologies 5 2
Financial Strategies 4 1
It appears that the CEO has the vision but doesn’t always get there. I question whether or not the CEO has created a “dashboard” for himself that reflects both strengths and weaknesses and is using metrics to formulate benchmarks and to consistency re-evaluate his plan of action and implementation process along the way. It seems like many CEO’s are stuck when it comes to both the planning and implementation process. The statistics tell me that the CEO has a strong sense of awareness but for some reason the plan and implementation process are not giving the CEO the desired results.
I wrote a previous Blog on the formation of “dashboards” and this data tends to lend credence on the fact that CEO’s may not be focused on not only the “things that matter most”, but also don’t measure and monitor the metrics or trends that define the success of the organization. It could also relate that other key members of the executive leadership team are focused on the results that their departments contribute to the overall success of the organization. Sounds like our alignment with strategic objectives must be off or even non-existent. IF the disconnect occurs between the CEO and the people who work in the organization, then the end result is a “disconnect” between the CEO and the Board of Directors resulting in termination or resignation. Basically, we are back to the old adage, “Is it the People or the Process?” You can blame it on one or the other, but it is usually a combination of performance and people resulting in an ineffective process of measurement.
CEO’s better learn how leading companies measure performance and offer a goal and results-oriented culture. Ok, CEO’s, “Start your engines, monitor your dashboard, and stay focused on the finish line”…
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