10 reasons why CEO’s are leaving – Teflon is Tiring

10 reasons why CEO’s are leaving – Teflon is Tiring


Recently, we have seen a number of CEOS, stepping out of the corporate workplace. Today Stephen Bracks, former Victorian Premier, quoted how different it is as a CEO today, no rest in social media today, it is 24/7! 

According to Business Council Australia 175 CEOs left their posts in 2022, a 30% increase compared with 2021 and a 13% increase on the highest previous year in 2018.

10 reasons why CEO’S are leaving in Australia? 

1. The business landscape post Covid has dramatically changed the workplace. Many CEOs that we are speaking to are saying that the current work environment feels like “a start-up” to them, even big organisations are stating this, as everything is so different. In 25 years of hiring leaders in business, Mondo Search have never seen such an ambiguous corporate environment.

2. “Teflon is tiring! “  CEOs are wondering, how to show “their real self” or ”their real fears”.  Leaders feel they have to be the calm in the storm.  It is an isolating job. They recognise that if a challenge takes place, the board will always state that the CEO is accountable, and often CEOs do not feel supported by risk adverse boards who are driven by compliance, governance and regulatory requirements. It is encouraging to see great leaders like Christine Holgate express how important it is to be transparent and vulnerable.

3. AI is rapidly altering workplace planning. Today’s CEO has to be a futurist. Many new roles are needed and many current roles need to be abolished. A CEO has to be  abreast of workplace best practice and talent mapping strategies, in collaboration with their people and culture teams. 

4. Post Covid, many CEOS are questioning their purpose? People have had time to reflect and decide what they really want in life. Many CEOs have realised that the cost of leadership & navigating a corporate world is isolating, lonely and not rewarding.

5.  The pervasiveness of social media means that often CEOs have nowhere to hide as they are constantly in review, 24/7. No where to seek space and free from comment.

6. Armchair Warriors and investor activists often like to take the CEO to task for decisions made that they have no real indepth understanding about.

7. The “tall poppy syndrome” in Australia also means that many CEOs find it hard to share their wins without seeing a tacky backlash.

8. Paperwork Pandemic.Compliance and regulatory reviews across all facets of business and the paperwork required is cumbersome and often creates so much distraction to the real core of leading and inspiring as a CEO.

9. Staff Demands. The aging population and the increase of family wealth with dual household income growing combined with the experience of the pandemic pause, has meant that the younger generation are often not as interested in full-time work. They saw the better side of their parents, when they were not full time driving to their workplaces. Staff are demanding working from home time (WFH) This has  added pressure to the dynamics of leading in an ever-changing workplace.

10. The rise of ensuring workplace psychological safety. Google recent survey has stated that  the number one requirement at workis psychological safety. This  has ultimately placed the CEO as a workplace warrior and responsible for impact beyond the workplace walls.

For more information about workplace safety, recruiting the right leaders or stepping forward in your career please contact simone@mondosearch.com.au or call 1300 737 917.

Listen to our radio segment with our CEO Simone Allan on the 3AW Breakfast with Ross Stevenson and Russel Howcroft.

Starting Well – Avoiding the Mental Health Challenges of Onboarding

 

About 20% of employees leave within their first 45 days of employment. Nearly 30% of jobseekers left their jobs within the first 90 days of employment (according to Work Institutes retention report).

Many leaders and businesses do not appreciate the significant mental health issues that are created for both the new starter, the Manager, and the existing team members when a new starter begins their onboarding process, it can be a stressful time and also a time of grieving the last role that they were in, letting go and adapting to the new career opportunity. Some people adapt more easily than others. Yes it can be exciting, but the huge uncertainty about the new role, the new manager, the new systems, and the new relationships place a huge stress load on the new starter.

If the new incumbent does not have well developed self-awareness and emotional regulation skills, then this high stress load impacts on their full brain capability, which affects their ability to learn, ramp up fast, develop effective working relationships and enjoy the new role.

At Mondo Search we care about finding good people for good we care to the core and have partnered with a professional in his field to provide a service to teach leaders how to induct well and to support new hires into the organisation.

Please call us for more information and we can line up a presentation of how we can support your organisation to provide professional induction experiences

 

Key Learning Outcomes

1.New starters – Understanding the mental health challenges of anxiety, anger, depression and stress 

2.The impact on the team – how to build inclusion

3.The critical role of the Manager – balancing the development of the new starter – too tight or too loose.

For more information please email carmela@mondosearch.com.au our Head of Research and Client Services.

Spring is a good time for Performance Appraisals & Retaining People

 

Performance Appraisals are like Flossing your Teeth!

One very powerful tool that can help to retain and engage your staff are performance appraisals. One of the biggest human needs is to be seen, heard and understood. Performance appraisals can be a time to do that, so often appraisals are not looked forward to but can be well worth the effort with loads of hidden benefits!

When we floss our teeth we do not enjoy the process much, it requires getting into some detail, dealing with hidden spots and challenges, yet the outcome can be more than just top line removal of plaque. Performance appraisals can set a good plan and path moving forward,build connection, clear out unspoken challenges, misconceptions and grievances that may have been held by employees. 

Good performance appraisals also allow a platform for strategic talent mapping. The number one driver now in an attractive workplace is psychological safety and a good perfomance appraisal can allow a safe place for employees to share with honesty and support.

 

Performance reviews should be like a DATE  

Defined and documented, have set expectations of what will be discussed, past and future performance, team environment, support required, what management needs to stop, start and continue doing.  Documented for clear review every six months.

Adventurous- prepared to face the truth, open, transparent and challenge the status quo.

Timely – the key to a great performance review is to keep them timely (best every six months as 12 months is too long to have to turn around and steer direction).

Encouraging – we all know that human beings respond best to a carrot rather than a stick. Recent studies show that the old “sandwich” feedback process is not always effective, as people become sceptical of the good feedback – feeling it is tokenism. Really listen and empathise with people.What are their personal aspirations? This will build connection and  a deeper understanding for managing and getting the best out of them. Show an interest in their whole life goals and how they can achieve them. Ask them if they have mentors and support to help them see their aspirations

One way to build connection and trust is to share insights around yourself and how you tackled a challenge, showing your own vulnerabilities, show them that you have walked that path as well. Building intimacy – “ Into you see me” By deeply listening you can grow and  stretch people beyond what they think they are capable of and new possibilities.

For more information contact Simone Allan, Director at Mondo Search on 1300 737 917 or email simone@mondosearch.com.au