August 2008 Newsletter Article

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Fact: The rate of failure for new executives is 40 percent to 60 percent within the first 18 months and, within five years, two-thirds of executive hires fail. Such a failure costs the company 20 times the salary of the executive. Fact: 20% of America's large, established companies will be losing 40% or more of their top-level people in the next five years as senior executives reach retirement age. (Development Dimensions International Inc. (DDI) Fact: Companies reacting to their succession problems by recruiting from the competition show a 66% failure rate for senior managers hired from other companies within the first 18 months. (Center for Creative Leadership)

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Jennifer Long is the Senior Vice President of Program Development for Management Possible International, a 30+ year company delivering executive skills development and a 17+ year global leader in skills and performance coaching.