SAN FRANCISCO--(BUSINESS WIRE)--A recent study identifies the importance of succession planning and development in determining success for high impact leaders. The crisis of 2020 presented fresh demands to reconfigure staffing, technology, and delivery of goods and services, requiring an unprecedented level of corporate resilience and agility. In fact, the stakes have never been higher, with multiple studies indicating that 35-50% of leaders moving into executive roles will fail in their first 18 months. San Francisco Bay-based ProjectNext Leadership announced key findings from a study aimed at better understanding the state of leadership development and succession planning for key senior roles. “Rolling the Dice: The Troubling State of Succession Development for High Impact Roles” reveals that while studies consistently correlate senior leadership success with financial success, “most organizations still haven’t cracked the code…on how to prepare leaders transitioning into high impact roles.”
This research examines the unique challenges associated with senior-level roles, the elusive nature of effective succession planning, and how ill-equipped many leaders feel. Experience, while valuable, is simply not enough, the report finds, noting that critically needed development decreases as leadership responsibility increases, often resulting in costly missteps.
ProjectNext noted how essential mitigating risk is to long-term organizational success by leveraging effective succession planning and increasing development for high impact leaders. ProjectNext Co-CEOs Molly Rosen and Jeff Rosenthal concluded, “Everyone seems to agree that organizations which effectively choose and prepare the best leaders for high impact roles will dominate their competition. Yet research suggests that few have converted that belief into regular practice.”
For a full copy of the “Rolling the Dice” report and its comprehensive research findings and implications, visit ProjectNext Leadership.
About ProjectNext Leadership
ProjectNext Leadership equips senior leaders in high impact roles with the tools, resources, and support essential to success. Its signature succession development approach offers a strategic and intentional method to develop a diverse and robust leadership pipeline. The company’s mission is to make companies resilient and future-ready by transforming those in high impact roles into highly effective leaders. Co-CEOs Molly Rosen and Jeff Rosenthal, along with their team of 30 Associates, bring decades of diverse expertise from internal and consulting leadership roles in executive coaching, consulting, and development.