5 Costly Mistakes CEOs and Executives Make That Impact Your Company's Bottom Line

Over the past three decades, I've dedicated myself to coaching and guiding numerous leaders in honing their people management skills during my time as a sales and operations leader. It has been profoundly rewarding to witness middle- and senior-level managers surpass their limitations, embrace emotional intelligence, and evolve into exceptional, positive people leaders. Leaders who ignite positivity in others and nurture and develop their teams' skills by removing their biases, lowering resistance to their titles, and connecting with their teams on a deeper level while understanding that accountability is a tool for development.

Yet, even though this is true, I've also witnessed and recognized a critical need for top-level decision-makers—those at the helm of organizations—to grasp the nuances of management coaching and training. Here are five missteps I frequently observe executives making:

1. Assuming all high-performers excel as managers: It's a misconception that stellar individual contributors naturally transition into effective managers. Managing demands a distinct skill set not always inherent in all top performers. Identifying potential managers requires keen observation of their ability to collaborate, delegate, coach, and provide constructive feedback. Equally crucial is assessing if they genuinely enjoy the relational aspects of management. In my experience, when executives promote people only based on results, they can put your team in danger of turnover. Not all top performers have the desire or ability to foster a high-performance team and get themselves out of the way to allow the team to GROW. Some top salespeople are exactly that: top salespeople.
2. Timing managerial training: Rushing high-potential candidates into managerial roles and immediate training overlooks the value of experiential learning. It's critical to provide resources for their initial months on the job, allowing them to acclimate before formal training. Delaying too long risks cementing detrimental habits, but waiting a few months ensures practical training informed by real-world challenges. When you get too excited about a new hire and already have them moving up the ranks, it can be based on personal opinions rather than performance. It takes at least 90 days to observe results, and even if they come with years of experience, assumptions are only sometimes best for the team.
3. Avoiding overwhelming new managers: New managers often face overwhelming pressures, risking early burnout. Balancing training and support during their initial months is key. Focusing on essential areas like feedback, coaching, growth mindset, and emotional intelligence fosters sustainable development. Building their skills requires attention; dumping tasks and telling managers what to do is not development. Using our six-step framework for development conversations is a good start to ensure you are not leaving your new managers overwhelmed and ripe for a recruiter. One bad day can turn into one call and a job offer from someone else who offers a better way to get on board and integrate them into the organization. DOWNLOAD OUR DEVELOPMENT PLANNING CONVERSATION TOOL HERE
4. Relying solely on external expertise: While external training has merits, overlooking the wealth of knowledge within your managerial ranks is a mistake. Encouraging peer learning, feedback, and collaborative problem-solving among managers can be immensely beneficial. However, this is a culture killer that causes dissatisfaction at work. Take your internal talent seriously; instead, ensure you build a pipeline and plan concrete development. Sign up for our FREE webinar today to learn how to create development plans your people will love and how to integrate them into your company HERE.
5. Resorting to ad hoc training in crisis: Reactive training for struggling managers fails to address broader organizational issues. Managers require continuous feedback and structured development plans aligned with the organization's values and goals. Recognizing the importance of career advancement and income growth to employees, leaders should prioritize comprehensive development plans as a retention strategy. Scheduling a one-day seminar is not the answer; you must implement structures to address the more significant issues. In the long term, your company will benefit from ongoing coaching sessions versus a band-aide approach to training.

Becoming an effective manager is a journey rather than an overnight transformation. Essential leadership practices include cultivating a supportive learning environment, offering targeted feedback, and measuring progress over time.

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Embracing positive transformational leadership programs like our workshops can further enhance managerial effectiveness and organizational success. Investing in managerial development is a strategic imperative and potent tool for employee retention and organizational growth.

Thank you for reading. If you found this helpful, share, comment, and like to help other leaders like you find our resources.

April

CEO & Founder, www.aprilsabral.com & www.retailu.ca

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