Studies on the success rates of newly hired or newly promoted executives don't paint a very attractive picture. Many sources suggest that approximately 40% of new hires/promotions fail within 18 months of assuming their new job. has been shown to be a function of mainly interpersonal and leadership issues. In this ever-evolving corporate landscape, the stakes are high, and the margin for error is slim. It's crucial to explore innovative approaches to overcome these challenges and foster executive success.
Studies also show that a structured and rigorous program to effectively integrate employees into their new organizations reduces risk and produces significant results, quickly. Return on Investment achieved!
Most organizations try to do a good job onboarding new employees effectively. Some employ informal one-on-one or group sessions, while others opt for slick 3rd-party managed solutions. While these "teach-ins" are a vital component of introducing new hires to the organization, they often feel like a relentless stream of information – akin to "drinking from a fire hose." It's clear that there's a need for a more structured and interactive approach that goes beyond the one-way communication model of orientation.
Onboarding, in contrast, is a structured interactive program designed to assist new leaders in identifying priorities and action plans based on organizational needs. It forms the foundation for transparent and open communication, an essential element in building a high-performing organization. To ensure a successful 90-day plan and subsequent action delivery, it's imperative to involve key stakeholders such as managers, peers, and direct reports in the process.
A proven onboarding methodology takes the guesswork out of what should and shouldn't go into the plan. The result? A well-defined roadmap with milestones and checkpoints that ensures the new leader focuses on the right actions to deliver the potential identified during the recruitment and hiring process.
Think about it. Doesn’t it make sense to support your newly hired leader in their immersion into your organization? The effort put into effective onboarding is an investment in securing a return on all the time and resources invested during the recruitment process. By embracing the shift from orientation to onboarding, you can significantly improve your organization's ability to nurture and retain top talent, ultimately enhancing your overall success in the corporate landscape.
FROM THE ARCHIVES: This blog post was originally published in 2015 and has been updated with new content.