High levels of C-suite and -1 attrition remain a huge problem for business globally. In our research and discussions with clients some interesting things have come to light:
Of those leaving C-level roles in 2024 across FTSE350, S&P500 and Euronext companies, nearly half had been there for 3 years or less. Do investors or Chairs really think a leader could execute in such a short time?
One client at a FTSE100 told us he'd had to onboard 3 CFOs and 2 CEOs in 4 years which did untold damage - how often is that happening and what is real story here?
Another told us a common reason for hires failing was a lack of alignment amongst rest of team for reason / purpose / choice. He mentioned it was commonplace for a senior exec in a position of power to “steamroll a certain candidate” and it was then proved wrong…
Our data shows extreme sector bias in short executive tenures, most acutely in automotive and healthcare – why is that? And why now?
CTOs and CMOs have the shortest tenures and CEOs and CFOs tend to stay longer across the board – how come?
Not enough leaders are supported through their integration properly – we define that as their first 6-12 months in role. How do you do it?
Many said Excos were toxic and should have been sorted out before bringing in fresh blood. Just wow. What does this mean?
Capability of search processes are sorely lacking and they overcharge for poor service and a lack of depth in investigation. How should you engage with them and what do you need to build in-house instead?
Recruiting and setting up senior leaders for success is an art as much as it is a science. The alternative is high levels of attrition that is ruinously expensive and value destructive over time. We think it requires mature, experienced people who can build high touch relationships with seniors internally, understand cultures, personalities and are sensitive to an organisation’s recent history. That is hard to do from outside but to be brought inside requires an ability to gain your trust and credibility as well as help you solve problems. We would love to get to know you and discuss how we can tackle levels of regretted turnover together and stabilise your leadership teams.