Business Imperative For. ONBOARDING FOR EXECUTIVES & LEADERS PART I CAUSES OF EXECUTIVE DERAILMENT

Transcription

1 Business Imperative For. ONBOARDING FOR EXECUTIVES & LEADERS PART I CAUSES OF EXECUTIVE DERAILMENT TODAY WE LL COVER What is executive onboarding? Why is onboarding a business imperative? Derailment factors Objectives in onboarding executive(s) Onboarding roles (stakeholders) Roadmap for Executive Success

2 DEFINITION Executive onboarding is a preventative leadership strategy in which new leaders and executives are supported in the assimilation into the new environment and into their role while becoming productive much more rapidly. The process positions an organization s new leaders with its vision, strategies, goals and culture. Success results from partnership of the new leaders, their managers, and their HR Business Partners. Executive onboarding increases productivity while it reduces the likelihood of derailment. HOW EXECUTIVE COACHES HELP The executive is guided through a structured process by an executive coach who specializes in this area. The executive coach helps these new leaders focus on the right activities in the right ways during their first few months on the job so that he/she is working in concert with their boss, setting the right direction for their team and making significant progress towards the most important deliverables.

3 DO WE HAVE THE LEADERS WE NEED? Aon Consulting s 2008 Benefits and Talent Survey Leadership Talent New Leaders in the Pipeline = 44% Shortage of Leaders = 56% WHY IS EXECUTIVE ONBOARDING SO IMPORTANT?

4 BECAUSE IT IS LONELY AT THE TOP CHALLENGES FOR NEW LEADERS New executives must quickly understand the unwritten rules, processes, and networks that influence how things really get done in their organization in order to be successful in their role.

5 WHO MOST BENEFITS? Externally Hired Executives & Leaders Newly Promoted Executives Being Relocated Leaders in New Business Situations AND DERAILMENT IS REAL At least 40% of new leaders fail to meet the expectations of their new role. Right Management 2003 Survey of 826 HR directors

6 RESEARCH ON DERAILMENT 30-50% of newly hired executives fail or leave within 18 months at a fully loaded cost of up to 10X salary! Sources: Sources Michael Watkins, Deloitte, Right Management, Mercer Consulting MORE DERAILMENT DATA Training & Development Journal (August 2008) reported failure for: 30% of newly hired senior leaders 21% of new leaders within the same company

7 SUCCESS OR FAILURE? FIRST IMPRESSIONS LAST LONGEST

8 MY OWN NONBOARDING EXPERIENCE WHAT ABOUT YOUR COMMUNITY? How would your latest senior level hires (or promotions) describe their onboarding experience in your community?

9 EXECUTIVES FEEDBACK A 2006 survey conducted by Korn/Ferry only 30% of global executives contacted were satisfied with their employer s onboarding process for new hires. 38% rated their employer s process as only average, 22% called it below average 10% said it was poor Of more than 100 executives from senior managers to CEOs interviewed over a two-year period, only 39% were satisfied with their organization s efforts to integrate them (Wells, 2005). WHO CONTRIBUTES TO DERAILMENT? The Manager The Executive Human Resources

10 TWO TYPICAL MISTAKES Organizational Error We hired a smart person who can figure it out. Executive Error I m a smart person, I can figure it out on my own. SEVEN DEADLY SINS Arrogance Ignoring what s different Lack of authenticity Charging in too fast/treat everything as broken Hiding in your office & not communicating Not taking care of yourself Ignoring the homefront Source: Clearing The 90 Day Hurdle

11 DERAILERS & FLAMEOUTS Doing Too Much, Too Fast Leader Arrogance Not Building Relationships Abrasive Leadership Style Lack of Clarity Regarding Expectations Cultural Misalignment Blind Spots Hubris Too Much of a Good Thing Corporate Leadership Council DERAILMENT IN NON-PROFITS Don t understand their boss or the Board Don t appreciate differences of mission-driven organizations Have unclear performance expectations Don t take time to listen & observe Created a poor first impression & can t turn it around Neglected relationships (reports, peers, board, residents) Have not established support systems Overreliance on past successes & experiences Overconfidence in abilities No clear Vision Do not build a solid team Underestimate the importance of early wins Make poor decisions or attempt to do too much, too soon Failure to recognize the importance of culture