One man out the back door and one in the front; no mentoring for the role, not even a handover from the guy who ran the show for the last 13 years – and did anyone actually show David Cameron the state of the accounts before they put him in charge of the country?!
Well, you may be horrified to learn that this is how UK Plc runs its business – and it’s the same extraordinary story in most UK Plcs.
Less than 5% of newly appointed company leaders are given support while learning their roles, leaving 40% quitting their post within two years. According to a new pilot survey* from expert coach-mentors, LeaderShape, companies expect Financial Directors or CEOs to hit the ground running in these challenging positions without backup – even if they are new to that level of responsibility. The cost of turnover at this £75,000 and above salary level has a serious impact on the UK’s balance sheet as well as on long-term business stability.