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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. This poor success rate has been shown to be a function of mainly interpersonal and leadership issues.
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 of new employee orientation. Some use informal one-on-one or group sessions and others have slick 3rd-party managed solutions. Although “teach-ins” are an important part of bringing on a new hire, it is simply a one-way communication vehicle whereby company information is passed to the new hire. I have heard the expression “drinking from a fire hose” used to describe this process.
Onboarding, on the other hand, is a structured interactive program that helps new leaders determine priorities and action plans based on organizational needs. It establishes the basis for frank and open communication, a mandatory element in creating a high-performing organization. Involving key stakeholders such as managers, peers and direct reports is critical in getting the 90 day plan right and subsequently delivering upon the actions defined.
A proven methodology will take the guesswork out of what should, and shouldn’t, go into the plan. The result? A roadmap containing milestones and check points that ensures the new leader focuses on doing the right things to deliver upon that potential you saw during your hiring process.
Think about it. Doesn’t it make sense to support your newly hired leader in their immersion into your organization? It’s effort well spent to ensure the return on all the time and dollars invested during the recruitment process.