Invest in leadership development to hit org targets

A major two-year study urges organisations to invest in future leaders, particularly frontline leaders, to improve workplace performance and innovation. The report found 40% of companies are not hitting key performance targets due to under-investment in the next generation of leaders alongside concerns that local executives are relying too much on gut instinct to make decisions.

Effective mentoring allows emerging leaders to test ideas and gain a fresh, experienced perspective on leadership, management and performance.

In our recent NextGen Mentoring programs 75% of participants said their overall performance had improved, 73% improved influencing and negotiating skills, 85% are making better decisions while 84% of CEOs in a recent HBR study stated mentoring had made them more proficient in their roles faster.

Read the key findings from the 2016 Study of Australian Leadership by the University of Melbourne and Centre for Workplace Leadership.

It is the largest ever survey of leadership in Australia. SAL surveyed almost 8,000 individuals across 2,703 organisations and 2,561 workplaces. Respondents included senior leaders (such as CEOs), workplace leaders and specialists (such as HR managers), frontline leaders and employees

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Why successful entrepreneur seeks mentor.

The vibrant Nicole Eckels, Co-Founder and Creative Director at Sapphire Group, Glasshouse Fragrances and Circa Home shares her story being mentored by one of Australia’s leading women, Geraldine Paton AO. Click here to read.

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HBR research: CEO’s need mentors too

 “With the right mentoring at the top, everyone stands to gain.” HBR April 2015

Harvard Business Review investigates the emerging trend of CEOs accessing seasoned counsel by engaging the services of experienced leaders from outside their company.

The result: “we are convinced that more CEOs should connect with mentors rather than assume that theirs is a burden to be shouldered alone.”

CEOs are routinely making decisions concerning matters they’ve never before tackled. They are tested by decisions and management situations that they haven’t encountered.

“In such high-stakes situations, CEOs need wise mentoring.”

“Mentors … are role models who have ‘been there and done that.’ They can offer timely, context-specific counsel drawn from experience; wisdom; and networks that are highly relevant to the problems to be solved.”

Interviewing a new CEO of a giant insurance company, they found he was certain he could benefit from the perspective of someone who had been down similar roads before. He believes the mentoring has made a very real difference to his performance – and his companies.

Of the CEOs with formal mentoring arrangements surveyed:

  • 71% were certain company performance had improved as a result
  • 69% were making better decisions
  • 76% were more capably fulfilling shareholder expectations
  • 84% said mentors had helped them avoid costly mistakes and become proficient in their roles faster.

Read more about McCarthy Mentoring’s Executive Mentoring Program and mentor network.

Read full article CEOs Need Mentors Too by Suzanne de Janasz and Maury Peiperl, Harvard Business Review, April 2015

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Pathways to CEO

Research by AFR Boss magazine and the University of Sydney Business School shows almost one third of S&P/ASX 100 CEOs are male and studied economics, business or commerce.

The research explored career paths, degrees undertaken, gender, nationality and the roles the CEOs had before they took the top job.

Yet, as with our clients, there are many who buck the trend and have taken a variety of paths – conventional and unconventional – to get where they are today. The full article interviews four S&P/ASX 100 CEOs about the career paths they have taken and the choices they have made:

1. Gail Kelly, CEO, Westpac
2. Greg Roebuck, Founder and CEO,
3. Stuart Grimshaw, MD and CEO, Bank of Queensland
4. Patrick Houlihan, MD and CEO, Dulux Group

Source: Boss Magazine, AFR, September 2014, Volume 15 p18




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Why do senior women leave their jobs?

McCarthy Mentoring Executive Program Sydney

A new study by global bank Citi looked at the reasons behind their troubling attrition rate of senior females. Surveying 500 men and women who had left the organisation from around the globe, the findings were interesting and sometimes surprising.

These are a few of the discoveries:

  1. Women are loyal. Compared to the men who had left the women had worked with the organisation for longer and many took a lot longer to decide to leave.”There seems to be a loyalty dynamic at play with our senior women that is more prevalent than our male cohort,” Minashi writes.
  2. Women talk to their bosses and HR. While fewer men had discussed their plans with their bosses or HR, 90% of women talked with their manager ahead of time and 50% of women spoke with their HR partner. “I believe this represents a huge opportunity for organisations in that we can raise manager capability to hold meaningful career conversations and encourage greater connectedness in terms of talent and mobility discussions,” Minashi writes.
  3. Flexibility or work life balance is not the problem. Most women surveyed strongly disagreed that flexibility or work life balance challenges had anything to do with their decision to leave. “The message came back loud and clear – “we are here to work, we want large, complex, exciting leadership challenges. Let me worry about what is going on at home”,” Minashi writes.
  4. Family is rarely the reason women leave their jobs. The global study showed just 4% of females who left did so to stay at home. Sixty-three percent went to other corporate roles in the financial services sector – exactly the same as the percentage of men – and 22% started their own businesses.
  5. Female breadwinners are on the rise. Two-thirds of the women in the study reported that they were their family’s main breadwinner. “The mortgage, kids’ education, pensions and financial planning are being funded and supported by senior women as much as the traditional male breadwinner ever was. Promotions, pay and career path are all as equally important,” Minashi writes.
  6. Tipping point. “Female attrition seems to be led by an accumulation of micro disappointments rather than one significant event. It wasn’t the promotion people missed out on, or the change in business model but rather the growing frustration that career pace and trajectory were not aligned with expectations,” Minashi writes.

Read full article by Georgina Dent, 30 July 2014



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