There is no greater power than stories
At times of transition, our identity is forced to change. Stories are how we make sense of it all.
The stories we tell ourselves are as important as our knowledge, skills & experience.
At The Story Lab, we help leaders to consciously uncover unhelpful stories that influence their behaviour and impact their reputation; stories they tell themselves and stories they tell others. We support them to challenge these narratives, refining or replacing them with new stories to support them in the transition challenge they are facing.
The Challenge
Leadership transitions are more important than ever, but successful transitions are the exception as opposed to the norm. This is costing companies millions and adversely affecting morale and reputation. Unsuccessful transitions in the space of executive, leadership and lateral hires are costly: C-suite turnover costs 213% of salary; 40% of lateral partner hires in law firms fail within four years; and 50%-60% of executives fail in the first 18 months of being promoted or hired.
But it not just about the financial cost, there is a human cost as well. Leaders have reported times of transitions as being ‘stressful’ and ‘overwhelming’, with half of respondents in the Global Leadership Forecast listing a high-stress leadership transition as ‘one of the most stressful challenges they've ever encountered’. This negatively impacted their self-confidence and level of effectiveness. As well as being personally unfulfilling, it leads to a ripple-out effect on team dynamics within organisations. Such leaders were also found to be more susceptible to burnout and more likely to quit.
Research indicates that failure of leadership transitions is not due to a lack of competence, knowledge or experience. Despite this, organisations focus on what the person knows instead of who the person needs to be in their strategic leadership role. Some attention is given to person-centric development, but the broader culture in which we operate means the primary area of attention when it comes to growth is skills development. This leaves a critical gap that is costing companies financially and negatively impacting people’s sense of wellbeing.
Our Approach
At The Story Lab we have identified core factors, often overlooked, but critical to successful transitions. These factors are centred around the stories that leaders believe about themselves and the stories leaders tell about themselves to others. Despite the plethora of transition courses and skills-based workshops available to leaders, these are the factors that so often hinder success for the individual and the organisation.
Our approach supports leaders to examine the stories that have got them to where they are; to challenge those that are no longer serving them; and to identify and craft a compelling narrative thread that will serve them in the future. This allows them to shift beliefs that are preventing them from fulfilling their potential and to make significant and sustainable change to support their development.
The science of storytelling
Stories embed new beliefs, enabling us to speak them aloud and apply them to our behaviour. This is the link between self-belief, performance and reputation.
Our approach also enables clients to learn how to best share their chosen messages to relevant audiences, ensuring peak influence and impact. It is this combination that makes The Story Lab approach so effective at significant times of transition and change.
‘Stories constitute the single most powerful weapon in a leader’s arsenal’
Client feedback
“Through this work, I felt safe enough to dig deep & think outside the box. It has resulted in lasting change that has had sustained positive impact on my life. I highly recommend it.”
— Caitriona McBride