Navigating Turbulence: Using Feedback to Smooth The Ride Seeking out (and acting on) targeted feedback improves performance and reduces turnover of senior leaders
Once again, the news is full of both facts and gossip about the early departure of a senior leader – this time from a high profile Canadian university. Of course, no industry is immune to this turnover, all sectors have executive ‘churn’ to varying degrees.
However, the frequency of this turnover continues to accelerate – driven by incessant demands for better performance in an ever more challenging business environment. In 2014 for example, the rate for CEO turnover in North America reached a six-year high according to several leading search firms.
No doubt, some of this turnover is due to intentional transition by senior leaders to other opportunities that are more attractive – including higher compensation, new challenges, more attractive growth potential and enhanced career profile. Many departures, however, are related to a loss of trust with key stakeholders, most notably the board.
The reasons for this loss of trust are varied, but the most common is a..... (cont'd) |
