Many executives fail. Shareholders, spoiled by the long-running bull market, are impatient when earnings fail to boost stock prices. And when shareholders bark, boards of directors bite. CEOs are resigning, retiring, or getting fired at a record pace. Each failure typically costs an organization millions of dollars.
Leaders are increasingly scarce.
This article contrasts the hiring process for different levels of leaders and points out where senior leader selection can be significantly improved. Since the 1970s, managerial work roles have continued to shift in the direction of leading and working with people, and leadership competencies have proliferated. Older competencies are not gone, just overshadowed as new skills and qualities emerge. Competency Domains are Stable Leadership competencies at all organizational levels tend to cluster within the same overarching domains. Within these domains, competencies vary by management level in content, scope, and scale.