At Any Time, 25% of Executives Are in Transition.
One-quarter of executives are in the process of transitioning into a new role at any given time, and 58% say they are likely to move again within two years.
According to Gartner research, of those executives in transition, about 40% are underperforming, based on their own assessment.
Executives also get less time today to settle in. The average time for a transitioning leader to achieve success is roughly seven months, but many organizations now need and expect new executives to start delivering results more quickly — well before even the 100-day mark.
The significance of using an executive search firm is highlighted by the intricate challenges of executive transitions, as detailed in recent research indicating that a quarter of executives are actively transitioning at any given time. This process is delicate, and the stakes are high, missteps not only jeopardize the executive's success but can also result in detrimental ripple effects throughout the organization.
Executive search firms specialize in navigating these transitions. They provide a structured, evidence-based approach to senior hiring that is crucial in minimizing the risks associated with bringing in new leadership. Their expertise includes identifying candidates who are not only qualified but also the right fit for the company's current context and culture. This is vital considering the underperformance risks during transitions.
Furthermore, executive search firms offer strategic support from the beginning of the hiring process through the critical first months of the executive's tenure. They can assist in defining quick wins, ensuring alignment with strategic goals, and establishing relationships that bolster both immediate and long-term success.
In an environment where early results are increasingly expected, the seasoned perspective of an executive search consultant serves as a compass for organizations, guiding them towards hires who can deliver those results without the prolonged runway that was once the norm.
Leveraging an executive search firm is an investment in the organization's future, laying the groundwork for a seamless integration of leadership that aligns with and accelerates the company's strategic objectives. The guidance and structure provided by these firms are indispensable tools for organizations aiming to fortify their leadership teams and secure competitive advantage in the marketplace.
If you would like to find out more about CGC and how we can support your Executive Search feel free to get in touch.
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