A study of more than 1.2 million people found that almost a third (29%) of newly promoted employees quit their job within a month, compared to just 18% of non-promoted workers. As a result, many organisations have been left scratching their heads and wondering why. After all, promotion is a reward, is it not? Well, not if the process is being mishandled.
It’s important to note that this trend is particularly prominent in new managers, and our recent survey of over 2000 employees and leaders found that just 18% of employees want their next career step to be into line management. When we asked these same employees why they wouldn’t want to advance their careers, 30% cited a fear of an increased workload and 29% said they’re happy where they are.
So, are employers promoting the wrong people, or are they failing to prepare individuals for the transition from a technical role to a management position which requires greater interpersonal and leadership skills?
The reality of promotion
Promotion into a managerial role inevitably comes with greater responsibility and authority. Managers are required to manage more than their own workload and are held accountable for their team members’ performance. An increased salary and improvements to benefits remain the go-to for many businesses looking to reward promotion, but is this enough in today’s world of work?
Nearly three in five (58%) employees report experiencing imposter syndrome at work, while research from the TUC found that 55% of employees feel work is now more intense and demanding, leaving them at a greater risk of burnout. While extra money in the bank at the end of each month is nice to have, employees value their wellbeing, and if sufficient training and support isn’t provided to help new managers transition into their new role, organisations will continue to see newly promoted talent struggle and eventually exit the business.
How to support the transition of new leaders and managers
Ongoing succession planning plays a huge role in preparing employees for the transition into leadership positions. Organisations cannot simply shoehorn individuals into a new role and hope they succeed – a sink or swim approach isn’t conducive to long-term success.
Assessment: Instead, they need to spend time identifying what leadership skills will be required for success in the future. Businesses should be assessing their workforce against these criteria to pinpoint which individuals have high potential and possess the qualities needed to take on a management and/or leadership position. Talent pipelines can then be established internally, whereby these carefully selected employees are gradually prepared to take the next step in their career.
Stretch projects: It’s highly likely the assessment process will flag up development areas for these individuals. Management and leadership roles require proficient use of interpersonal skills, something a younger employee who has performed in a technical function may be lacking. Which is why stretch projects can be effective as upskilling opportunities and provide an excellent foundation for these high potential employees to bridge the gaps in their skillset and build better relationships with their colleagues, some of whom they may be responsible for leading in the future.
Mentoring: Mentoring from existing managers and leaders will also be key. Every business will know the risk of having a single point of failure and will want to avoid a situation where somebody leaves the business and takes a wealth of knowledge with them, without transferring it to the next generation. Mentorship schemes provide the perfect opportunity for future leaders to learn from those around them, ensuring vital knowledge transfers take place.
Coaching support: And finally, once businesses have a strong pipeline and development process in place, it’s crucial that they then provide sufficient support for new people leaders. Promotion and stress can often come hand-in-hand, especially as newly promoted employees encounter situations that are new and somewhat alien to them. Having access to coaching support can provide these employees with a safe space to discuss any challenges they’re facing and identify steps to overcome them. It’s important these new managers know they’re not alone, and so regular catchups with their own line manager can also help ensure they don’t become overwhelmed and always have an open line of communication available to them, should they have any questions.
For many, promotion remains a definitive career aspiration. But there are steps that need to be taken for new managers and leaders to successfully adapt to their new role.
Failing to complete these steps and provide the right level of support is only going to result in employers continuing to see talented individuals exit the business, at a time when they would’ve been expected to push on with their career and drive success for the organisation.
