When an employer has a well-managed leadership transition program, it can improve revenue by 3 percent to 5 percent and gain an advantage in talent acquisition, according to new research by advisory company CEB.
For employers that use innovative approaches for transition management, they focus on transitioning the incoming leader as well as the original team and other colleagues. Doing so creates less organizational paralysis and employee attrition during the transition while improving employment value proposition and reputation for assimilating new leaders.
The research also demonstrates that at least nine out of 10 respondents led by well-supported, high-performing transitioning leaders hit their three-year performance goals, and the risk of attrition is 13 percent below average. Additionally, these respondents' teams display discretionary effort levels two percentage points higher.
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