Page 32 - Just Promoted A 12 Month Road Map for Success in Your New Leadership Role

You’ve Been Promoted, Now What? 17

■ We previously noted that available evidence has suggested that approxi-
mately 40 to 44 percent of newly promoted leaders demonstrate disap-
pointing performance, are terminated, or voluntarily leave their role
within 12 to 18 months of the time they start in their role.
■ The underperformance, or worse yet, the failure of newly promoted
leaders can be very expensive and very trying for the leader’s team and
others who are affected by the turmoil. If the role has to be filled from
outside the organization, consider costs such as these:

■ Executive recruiter fees that are usually one-third of total compensa-
tion plus expenses
■ Candidate recruiting trips
■ Possible moving expenses and allowances
■ Possible signing bonus and start-up expenses
Whether a candidate is selected from outside or inside the organiza-
tion, start-up costs for replacing a disappointing or terminated leader can
include these:

■ Learning curve for the new leader
■ Orientation and/or training costs including travel
■ Possible off-target results and general loss of focus
■ Low engagement of that leader’s team and possibly others
■ Damaged relationships
■ Adverse customer impact
■ Lost opportunity costs
■ Extensive staff time

■ Polling in courses we have conducted suggests that a larger-than-
expected number of leaders may be changing roles and moving into new
leadership responsibilities each year. Of just over 500 working managers
and executives from approximately 100 organizations who have volun-
tarily participated in a seminar entitled Navigating Leadership Transi-
tions, over 60 percent have indicated that they are either in a new role or
they have experienced such major changes in responsibilities that it
seems to them to be essentially a new role. The period we ask about is
the previous 12 to 18 months.
■ Each promotion and leadership transition that takes place has ripple
effects that could directly or indirectly have an impact on a large