Rapid Growth Companies Painfully Slow at Leadership Development
The U.S. Bureau of Labor Statistics’ own data reveals that only half of all startups survive the first five years in business. Only a third will make it in 10 years. One of the key reasons for these failures is the inadequate leadership development and continuity at the top. Many companies who have experienced 25% YoY growth have a cautionary tale to tell of how leadership development failed to keep pace with the aggressive growth. To say nothing of the damage caused to the continuity of corporate culture.
While some industries, including restaurant, hospitality, and tourism, are still reeling from the effects of the pandemic, other sectors boomed out of control. On-demand services related to consumer convenience come to mind, with some delivery-based companies fighting tooth and nail for the last remaining warehouse and industrial space. Companies such as these faced a boom in onboarding new employees. As team members came online, tenured employees were often promoted to senior leadership positions to manage the accelerating growth. There are likely more than a few who would reluctantly agree that the culture and leadership in place now look nothing like when they began.
What could have prevented this scenario? An investment in the executive leadership development of the organization. These same companies that threw crazy money into recruiting top talent likely never gave a second thought in preparing them to be great leaders. Growing too quickly can easily trigger a lack of focus on the essentials. The current leaders get overwhelmed with task-related functions, leaving no time to delegate and develop the next generation of executives. Quality—and quality control—begin to suffer and break down. Then, the negative internal and external feedback arises. It’s estimated that a third of the U.S. workforce (mostly Millennials) have been thrust into senior positions for which they’re woefully unprepared.
Like any other corporate improvement program or initiative, bolstering your executive leadership development requires an investment of time and resources. That’s where the value proposition of Intelligent Leadership Executive Coaching (ILEC) comes into play. A master certified ILEC coach can help your organization address the critical problems that arise with rapid growth and expansion, including:
- Maintaining engagement levels with employees
- Increasing brand loyalty internally and externally
- How to identify underperformers and outperformers
- How to thrive in the digital age
- Promoting and preparing a new generation of executive leaders
The importance of executive leadership cannot be stressed enough for companies fortunate enough to experience rapid growth and profitability. Especially if they hope to maintain this momentum. Perhaps ILEC founder John Mattone said it best, “Successful organizations and leaders don’t just invest in executive coaching. They invest in results.”
Intelligent Leadership Executive Coaching (ILEC) is the world’s #1 executive coaching platform dedicated to growing tomorrow’s leaders through organizational transformation. Our master certified ILEC coaches utilize a proven blueprint and philosophy designed to highlight the long-term benefits of investing in human capital. If you’re ready to take the all-important first step, let’s discuss your mission, vision, and purpose.