SAINT LOUIS, Dec. 2, 2015 /PRNewswire/ -- How important to you is the success of your latest executive hire?
The startling statistic is that the new leader failure rate consistently ranges from 40 to 50%. Half of new senior leaders fail to succeed in their roles. Many who fail do so within their first two years. As outlined in The Leadership Crucible's white paper on Executive Integration, this costs the firm not only in profitability but also:
- Search fees and recruiting costs
- Relocation expenses
- Signing bonus
- Stock options
- Separation agreements
- Replacement recruiting costs
- Lost productivity
- Decreased staff performance
- Missed opportunities
- Costly mistakes
"The tragedy is that most organizations adopt a 'sink or swim' approach when it comes to onboarding senior leaders," Says The Leadership Crucible's Michael Burroughs, author of Before Onboarding: How to Integrate Leaders for Quick and Sustained Results. "On the other hand, the best firms adopt a structured approach to senior leader onboarding that takes the guess work out of integration and accelerates the time to performance in the new role," says Burroughs.
The outcomes of executive integration are to:
- Compress the new leader's ramp-up time
- Avoid costly, preventable, and potentially career ending mistakes
- Minimize staff productivity declines and turnover related to leadership changes
- Accelerate team cohesiveness with the boss, peers, and direct reports
- Rapidly gain credibility with other key stakeholders such as customers, vendors, and board members
- Make the transition as efficient as possible
- Sustain the new leader's success over the long-term
"Our proprietary executive integration process addresses the challenges of senior leader onboarding in order to achieve specific organizational objectives and make the new leader successful over the short and long term," says Joe Scherrer, President of The Leadership Crucible. "We use seasoned 'coach integrators' who partner with the firm and the new leader over a 120 day period to manage the transition and lock-in results. In short, the process works."
To take advantage of executive integration to increase your Return on Leadership™ and elevate the growth of your business, engage The Leadership Crucible's experienced executive integrators at email@example.com or 636-209-3270.
The Leadership Crucible is a Service Disabled Veteran Owned Small Business.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/executive-onboarding-increases-odds-of-leader-success-and-protects-the-firms-hiring-investment-300186266.html
SOURCE The Leadership Crucible