Developing future leaders is two fold. Not only does it set your company up for success down the line, but it also creates immediate value by improving your team’s quality of work. Plus, having a strong talent development program helps attract and retain top candidates.

50% to 70% of executives fail within 18 months of taking on a role in large part due to a lack of proper assimilation. Whether hired externally or promoted internally, a new leader has to adapt to the role just as much as their team has to adapt to the new leadership.

The two biggest mistakes companies make when it comes to replacing their leaders are neglecting to plan ahead and failing to look inward. Businesses, big and small, would greatly benefit from putting more focus on hiring for leadership potential and grooming the talent that is already on the team.

CEO exits rose 29% in the first quarter (Q1) of 2022 compared with the same quarter last year. The C-suite is of course there for a reason, and as soon as they’re gone, or even just missing one member, the dynamic shifts in a way that makes it hard for employees to stay on task and continue to meet the same standards.

Hiring an executive is a long-term investment regarding both time and money. When done right, this investment more than pays for itself.

Regardless if it’s a candidate-driven or company-driven market, it’s critical for companies to ensure a positive candidate experience.

Organizations that consistently refuse to go beyond ladder and lattice methods will likely suffer from talent shortages and stagnant culture.