Accelerating new hire effectiveness
The challenge of continually resourcing Executive Capability is wide ranging and demanding. The first 3, 6, and 12 months in a new role are critical to the short, medium and long term effectiveness of any new executive.
Key findings conducted by Illuma Research of 280 senior executives from FTSE 350 organisations, the public sector, large UK non FTSE companies and UK subsidiaries of multinational organisations showed:
- 39% of executives have considered leaving their employer in the first three months and only half felt that they fitted their new employer well.
- 33% of executives felt that the role they took on changed significantly from that outlined during their selection.
- 42% of executives said that their expectations of the job and organisation changed significantly since they were recruited.
- Executives said that they could have been on average 50% more productive if their start in the business had been better organised.
This research states that the fault lines for an executive’s failure can appear within a few months of them starting with a new employer, and such failure had significant implications on the company they work for and not just in the traditional cost of recruitment such as search fees and their salary over 24 months. Taking into account the lost opportunity cost and impact on the people they are leading (poor productivity cascades through the entire team), the total financial impact of hiring an executive who fails, is far reaching and impacts staff moral, productivity, company profitability and shareholder/investor value. Bringing new talent on stream quickly – and retaining it – is an enormously expensive and risky process in a fragmented, multi-supplier landscape.
We provide specialist, trained, experienced coaches to work with your new-inpost executives to assess the needs of the executive’s situation; accelerate the learning of the leaders, build a strong foundation in their new position, elicit the right support and resources to maximize their integration, establish clear measures and tools of success to ensure they deliver full value in the shortest possible time.
This rigorous and complete process is specifically designed to provide assistance to senior executives as they make the transition to a new role. It can be applied to new hires, to executives transferring between group companies, or redeploying internationally- Speeding your leader’s journey to optimum effectiveness in the new role. We benefit your organisation by:
- shortening the cycle time to full effectiveness
- increasing certainty of outcome
- managing your risk
Executive performance and retention are determined by a successful Power Start and speed to full effectiveness. Investing the time and effort generates demonstrable return for all.
©Lumina Coaching Ltd