THE upcoming transition of the top executive of the country bears reminding for industry the challenges of executive transition. Studies show that after the two-year mark, anywhere between 27% and 46% of executive transitions are regarded as failures or disappointments, as highlighted in a 2018 McKinsey & Company report. Sixty-eight percent of executive transitions founder on issues related to politics, culture and people, and 67% of leaders wish they had moved faster to change their workplace culture.

SUCCESSFUL executive transitions have a significant positive impact. Nine out of ten teams whose leaders successfully transitioned into the role went on to meet their three-year performance goals and generated 5% more revenue. Conversely, if leaders struggle through a transition, the performance of their direct reports is 15% lower and 20% more likely to be disengaged or leave the organization.

AS many as 74% of U.S. leaders and 83% of global leaders think they are unprepared for their new roles. While a number of methods have been tried to assist with executive transitions, McKinsey & Company found tailored executive coaching and customized assimilation plans have been shown to double the likelihood of success. But only 32% of organizations use them – ironically that same share of U.S. and global leaders feel their organizations appropriately support new leaders.

A quarter of job seekers surveyed by CareerBuilder said the most challenging part about searching for work has been the inability to find jobs in their field, as the pandemic has forced an imbalance in available roles. Nearly 84% of survey respondents indicated they would be willing to take a job outside their current or most recent industry or role and 61% have actively reconsidered it.

WHILE unemployed workers are open-minded to their next position, a quarter of jobseekers said they strongly prefer flexible hours as a benefit included in a job offer, and 35% would turn down an offer if it didn’t allow the possibility to work remotely.