You can often prevent the loss of a talented leader by using Everything DiSC® Work of Leaders to address warning signs.
There are 7 Warning Signs of failure identified in the “Seven Habits of Spectacularly Unsuccessful Executives.”
Erick Jackson a Contributor to Forbes Magazine writes about Why Large Companies Fail to Keep their Best Talent. He references Sydney Finkelstein, the Steven Roth Professor of Management at the Tuck School of Business at Dartmouth College, who published “Why Smart Executives Fail.”
In it, Finkelstein shared some of his research on what over 50 former high-flying companies – like Enron, Tyco, WorldCom, Rubbermaid, and Schwinn – did to become complete failures. It turns out that the senior executives at the companies all had 7 Habits in common. Finkelstein calls them the “Seven Habits of Spectacularly Unsuccessful Executives.”
Here are the 7 habits, and their warning signs:
*as described by Finkelstein
Habit # 1: They see themselves and their companies as dominating their environment.
Warning Sign: A lack of respect
Habit #2: They identify so completely with the company that there is no clear boundary between their personal interests and their corporation’s interests.
Warning Sign: A question of character
Habit #3: They think they have all the answers.
Warning Sign: A leader without followers
Habit #4: They ruthlessly eliminate anyone who isn’t completely behind them.
Warning Sign: Executive departures
Habit #5: They are consummate spokespersons, obsessed with the company image.
Warning Sign: Blatant attention-seeking
Habit #6: They underestimate obstacles.
Warning Sign: Excessive hype
Habit #7: They stubbornly rely on what worked for them in the past.
Warning Sign: Constantly referring to what worked in the past
Jackson says: “The bottom line: If you exhibit several of these traits, now is the time to stamp them out from your repertoire. If your boss or several senior executives at your company exhibit several of these traits, now is the time to start looking for a new job.”
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