Organizations invest significant resources in searching for, assessing, and selecting individuals for leadership roles. All too often, however, these investments fail to yield the desired results when the new leader either performs below expectations or leaves within a short time period. Estimated failure rates are as high as 50% for external hires. This statistic is particularly alarming when you consider that the failure and departure of a newly placed executive can cost an organization two to three times their salary. Individuals promoted from within are also at risk of derailing when transitioning. Those who do manage to succeed can take as long as six months to get traction and begin contributing to the organizations. It is rarely the case that these failures occur because the individuals truly lack the requisite skills and experience. Rather, they have often fallen victim to a haphazard, sink-or-swim assimilation process.
Performance Insight’s Management Onboarding Program is designed to assist managers and leaders in this process by providing guidance and perspective to expedite the learning curve. This structured, strategic method helps leaders focus on the right activities during the first few months so that they can hit the ground running and establish credibility. Our program is customizable to meet the unique needs of your organization and leaders. Common components include:
- A comprehensive baseline assessment interview
- A three-way meeting between the new hire, his or her manager, and a Performance Insight consultant to discuss the organizational context, define roles, clarify expectations, and establish a learning agenda
- A learning assignment in which the transitioning manager works with his or her boss to identify critical individuals and groups with which to network and from whom to gather critical information
- Facilitated meetings with the new hire’s team to gain insight into team strengths and weaknesses and to establish rapport
- Ongoing coaching on transition issues (e.g., clarifying priorities, making structural and/or people assessments/changes, identifying quick wins, establishing credibility, adapting to a new culture, addressing skills gaps)
- 360°insight™ Survey conducted six months post-transition to track progress