For many of us, getting that first promotion into their first manager role is what they had dreamed about at college. Fancy title, pay rise are the reason they worked so hard for so many years! This could be a tall order. Do you agree? Does it make sense to invest heavily to ensure this is a smooth transition?
The facts say otherwise. Large companies spend around $10,000 more per person on leadership development for executive leaders vs first level leaders (Bersin by Deloitte Leadership development fact book 2014). No wonder according to a 2011, CareerBuilder survey, More Than One-Quarter of Managers Said They Weren’t Ready to Lead When They Began Managing Others, (26%) of managers said they weren’t ready to become a leader when they started managing others. Even more disturbing, 58% said they didn’t receive any management training. We have work to do.
66% of leaders surveyed by Deloitte believe they are weak in their ability to develop Millennial leaders, while only 5% rate themselves as excellent (page 25 Deloitte University Press, Global Human Capital Trends 2014). Failure rates of new leaders range from 40 to 60%.
Learning leaders in high performance companies re-evaluate the way we better prepare leaders for that first transition. A next practice uses simulations and serious games for senior leaders, why not for first time leaders?
Explore how we can better serve our first time leaders with the use of applicable and powerful experiential learning tools.
- Where the focus should be on preparing new leaders for success
- How to incorporate Experiential Learning into your new leader development programs
- What results to expect using this approach (Allstate ADP)