For directors on boards, few moments could be more satisfying than finding the right CEO—a leader who can shift the organization into high gear, set the strategic vision, and make a long-term impact. But experienced directors know this desired outcome doesn’t occur as often as it might. In fact, revolving-door CEOs have become a costly, disruptive bane for organizations.
In a new report, “CEO staying power,” the Korn Ferry Institute introduces tools that can help find CEO candidates who are more likely to have longer tenures. Korn Ferry analyzed the tenure of 188 CEOs who, earlier in their careers, had taken the firm’s battery of assessments and leadership simulations for senior executives or CEO succession candidates. Candidates who scored the highest on the CEO assessment averaged one year and three months longer as CEOs than those who didn’t.