Today’s Presenter Maggie Walsh, Ph.D. Vice President, Leadership Practice The Forum Corporation firstname.lastname@example.org
Outline for Today’s Session• Four types of leadership transitions with high personal & organizational impact• Seven ways leaders endanger their transitions• Three things to focus on• Specific steps you can take
A transition is …A high stakesturning point Image: Pete Keen/FreeDigitalPhotos.net
Transition PATHs Knowing your type of transition will help you avoid failure P A T H PLACE ASSIGNMENT TEAM HEADING Less than half deliver Involuntary turnover up 40-50% expected results for 50% fail in the higher error 65+%first 18 months1 37% average rate for new teams3 in the first performance loss2 year after new management4
Why All the Failure?• Decelerators: The actions we think we should take (and do take) often backfire.• Accelerators: We overlook three critical success factors and fail to apply them
The 7 Transition Decelerators 1. Neglecting to align expectations2. Racing to 6. Believing there get a lot is an answer done3. Ignoring what 7. Focusing on process you don’t more than people know 4. Relying too heavily on 5. Devoting too much energy past experiences to the wrong people Photo Credit Mark McArdle, 2008, Wikimedia License, acobox.com
Transition AcceleratorsIncreasing your focus on these critical few action areas will help you navigate your transition successfully CLARITY UNITY AGILITY Alignment around Bringing the right Enabling self and the situation and players on board team to adapt direction quickly to new circumstances
Accelerator: Increase Clarity• Clarify the business situation• Align expectations CLARITY
Business Terrains Understanding the business context in which your transition is taking place is a critical success factor Long-Term PLATEAU Growth Loop RENEW Succeed Crisis Fall short ACCELERATE RESCUESucceed LAUNCH
Terrain-Specific Leadership ActionsLaunch Plateau• Secure the right resources immediately Maintain success while looking beyond financial measures for a broader view of health• First focus on outcomes, process later Establish leading indicators of internal and external events that signal• Have a complete strategy others have trouble and trigger you to take action helped to shape Create a strategy for reinvigorating the business, initiative, product,• Project confidence, set timelines & etc. Think when, how you will know, what you will do milestones and achieve early wins• Stay open to emerging opportunitiesAccelerate Renew• Delegate – you can no longer do it all Create a compelling business case for change and get buy-in through participation• Build growth-enabled processes and structures (flexibility and scalability) Find ways to overcome organizational memory• Scale your team with a focus on team Protect the people who provide renewal ideas dynamics Scale innovative new processes• Enable effective action: establish clear Rescue decision rights Be realistic: acknowledge the truth of the situation• Nourish stakeholders and support Decide and act quickly; reflect and readjust later networks Be clear on the critical few priorities; align all goals with them Focus on keeping up morale and energy Find ways to recognize and reward small successes
Accelerator: Increase Unity• Identify strategic alliances• Build the right relationships UNITY• Align interests
Friend, Foe, Ally or Adversary?• Think broadly about all your business relationships.• Estimate the percentage that fall into each of these relationship categories: friends, foes, allies, or adversaries.• Note your estimates for each category.
Beware of 3 Relationship Traps5 CONDITIONAL UNCONDITIONAL AND TRANSITORY AND DURABLE Mistaking ALLY FRIEND allies for friends WRONG 1 CATEGORY Not Failing tonurturing convert 2 WRONG FOCUS allies adversaries WRONG 3 ASSUMPTION Confusing adversaries and Transition ADVERSARY FOE foesLeverage: Allies in Waiting Trying to convert a foe
Use Your Influence CurrencyA currency is something you have that is of value to anotherperson. Offer valued currencies to create mutually alignedinterests.• Currencies contribute strongly to relationship capital.• The other person determines the value of a particular currency.• They are universal—everyone has them.• Most of us under estimate what we have to offer.
Sample CurrenciesPersonal Currencies Agenda-Related Currencies• Training & education • Involvement in something with• Experience significant impact• Technical Resources • Achieve something important• Organizational information • Access to more resources• Customer connections, • Opportunity to learn something knowledge, experience • Recognition• Reputation • Visibility• Relationships with others • Gain personal backing• Visibility • Gratitude• Unique information • Inclusion• Expertise
Summary Leading Through Transitions• There are 4 types of costly transitions to manage• Know your susceptibilities to the seven decelerators• Focus on the three accelerators of successful transitions• The 5 business terrains each require different leadership Actions.• Increase clarity: align around the business situation and actions• Increase unity: invest strategically in relationships
A Final Thought onLeading Through Transitions Critical now more than ever
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References1. George B. Bradt, Jayme A. Check, Jorge E. Pedraza, The New Leader’s 100-Day Action Plan, 2nd Ed. (New Jersey: John Wiley and Sons, 2009).2. The Forum Corporation, Leading Change program, 2007; Michael C. Mankins and Richard Steele, “Turning Great Strategy into Great Performance,” Harvard Business Review, July 2005.3. J. Richard Hackman and Diane Coutu, “Why Teams Don’t Work,” Harvard Business Review, May 2009.4. Kevin P. Coyne and Edward J. Coyne, Sr., “Surviving Your New CEO,” Harvard Business Review, May 2007; Pauline O’Sullivan, “Governance by Exit: An Analysis of the Market for Corporate Control,” in Corporate Governance: Economic and Financial Issues, Kevin Keasey, Steve Thompson, and Mike Wright, eds. (New York: Oxford University Press, 1997).5. Adapted from: Laurence J. Stybel and Maryanne Peabody, “Friend, Foe, Ally, Adversary … or Something Else?” MIT Sloan Management Review, Summer 2005 .