According to a research study conducted by Manchester, Inc.*, four out of ten new managers and executives fail within 18 months of starting their new jobs. The researchers defined “failing” as either being: (a) terminated for performance, (b) performing significantly below expectations, or (c) voluntarily resigning from the new position.
Find out why after the jump!
According to the study, here are the major reasons why managers and executives fail on the job:
- They fail to establish a cultural fit (75%)
- They fail to connect and build teamwork with staff and peers (52%)
- They are unclear about what their bosses expect (33%)
- They don’t have the required internal political savvy (25%)
- There’s no process to assimilate new leaders into the firm (22%)
This study implicates that compatibility with the organization and the social environment is an important consideration for staying on the job. Individuals must perceive that their personal values, career goals and future plans fit with the larger corporate culture and the demands of their immediate job.
Furthermore, this study highlights the importance of managerial training in the business world today. Connecting effectively with people is the key to good managing, and that necessitates being able to tailor your management approach depending upon the context and individuals involved.
How do you recognize your team’s individual differences, and how do you reconcile these individual differences to foster a collaborative and cohesive team? Leave a comment below and win a $100.00 gift certificate to our New Manager Academy Training Workshop!
*Source: Lublin, J. (2003). Managing Your Career. The Wall Street Journal.