blog.1.image
Articles
Jan 25th, 2021

Research: When Getting Fired Is Good for Your Career

Founder
Founder

Most leaders are, deep down, afraid of failure. But a 10-year study of over 2,600 leaders showed almost half (45%) suffered at least one major career blow-up — like getting fired, messing up a major deal, or blowing an acquisition. Despite that, 78% of these executives eventually made it to the CEO role. Additional research on 360 executives found that 18% had been fired or laid off. The good news: 68% landed in a new job within six months. An additional 24% had a new job by the end of one year. Even better? 91% of executives who had been fired took a job of similar or even greater levels of seniority. The leaders who rebounded the fastest did three things: first, they looked the facts in the face and owned them. If they were fired for performance reasons, for example, they accepted that and learned from it. Second, they leaned on their professional networks to get a new job (not friends or family, and not recruiters). Third, they looked for jobs in industries where they had experience, rather than jumping to something new.

Most leaders are, deep down, afraid of failure. But our 10-year CEO Genome study of over 2,600 leaders showed almost half (45%) suffered at least one major career blow-up — like getting fired, messing up a major deal, or blowing an acquisition. Despite that, 78% of these executives eventually made it to the CEO role.

See the original blog:

https://hbr.org/2018/10/research-when-getting-fired-is-good-for-your-career?fbclid=IwAR3_xI8DEAINUCmTYUyRlCfvr6N5L_Sqe6KLAN3VhdJ38TOQRBcYYYzIbBM

More great articles

blog.5.image

How to Improve Your Business English

Pressure to speak English in the workplace continues to grow as more and more companies...

Read Story
blog.5.image

The Best Leaders Aren’t Afraid to Ask for Help

Summary.   Leaders are often hesitant to acknowledge their weaknesses but this...

Read Story
blog.5.image

The surprising psychological reasons you’re procrastinating — and how to fight back

There are many reasons why people procrastinate.

Among the most common excuses are poor...

Read Story

Never miss a minute

Get great content to your inbox every week. No spam.
Only great content, we don’t share your email with third parties.
Icon