The Importance of Effective Executive On-Boarding and Assimilation
Submitted by: Anne Robson, Senior Partner, Kelleher Associates, LLC
Have you ever thought about the cost to an organization of a hiring failure? Bringing on a new Executive, especially from the outside, into a key position is a demanding process, not a simple one-time event.
Executive on-boarding is the sum of efforts to acquire, accommodate, assimilate and accelerate the performance of new executive team members. On-boarding is a relatively old idea but only recently has it been systematically incorporated into more businesses as they hire their executives and board members through outsourcing, executive recruiting, or other methods where the person’s qualifications were not assessed through the companies’ own experience with the employee. Unlike executives who have “climbed the ranks”, these new hires do not automatically “fit in” to the work environment, and companies find gaps in expectations and the results delivered.
Companies hiring senior executives from the outside take on significant financial and organizational risks because studies repeatedly show that 35–40% of externally hired executives fail. A strategically focused executive on-boarding process that encompasses one-on-one, externally facilitated coaching negates that risk. It helps to assure success through accelerated learning and avoiding common pitfalls and barriers that often derail leaders in transition.
According to a recent study, almost 1 in 3 senior-level executives who join new companies fail to perform well enough to keep their jobs, even after 2 years. (The same outcome applies to 1 in 5 of these corporate leaders who are promoted from within the company)”. The study, titled “Executive Transitions” showed it could take these external leadership hires between 6–9 months to “ramp up” or perform the job as expected. Meanwhile, 26% of respondents say it takes longer than 9 months.1
On-Boarding involves a series of activities, focused on consciously deciding on areas of concentration, both for personal growth and development. The process includes determining priorities, objectives, strategies and specific actions. Finally, the acceleration phase of effective on-boarding provides one-on-one assistance in achieving goals for the first 12 months on the job, with heavy concentration during the first 90-120 days.
Executive On-Boarding and Assimilation provides tangible value to a new leader and the company including:
- Better integration into the new organization’s culture and community
- Stronger initial connections to senior executives within the company
- Improved capabilities working with the Board of Directors
- Greater sensitivities around the dynamics of managing new constituent groups, including employees, customers, shareholders, outside vendors, industry leaders and community organizations
- Enhanced ability to refine and strengthen the organization’s business plans
In summary, an effective on-boarding process includes assessment of the new hire and strengthening the executive integration process for the purpose of a successful assimilation into the company and enhancing the new hire contribution sooner.
It doesn’t end at the beginning…
For more information, visit www.kelleherllc.com.
|
