A search firm’s job is just starting once a candidate is selected. Onboarding is what determines just how successful every new leader will be in their new role. Egon Zehnder takes us inside the process and reveals how they ensure incoming executives stick around for a while.
Effective onboarding can make or break an executive’s success in a new role, yet an Egon Zehnder study of global HR executives and newly appointed leaders shows less than a third of organizations actively support their executives to adapt to the cultural and political climate – which rank as the top reasons new leaders fail.
With the likelihood of new executive success at risk in a competitive business environment that relies on swift leadership performance, Egon Zehnder partners Mark Byford and Lena Triantogiannis, along with Michael D. Watkins, chairman of Genesis Advisers and professor at IMD, have developed an Onboarding Effectiveness Assessment to improve new executive integration and streamline their ultimate success.
Too many businesses believe they are successfully bringing newly hired executives into the fold when in reality they are simply covering administrative basics. That level of onboarding is outdated and largely ignores the most challenging obstacles for new leaders – unfamiliar cultural norms and expectations.” — Mark Byford
The consequences of improper onboarding, he added, include financial repercussions and talent retention issues. “Organizations must focus on getting integration right upfront to ensure new leaders succeed in today’s high-stakes environment.”
Culture Matters
According to a global survey of senior executives who had recently transitioned into new roles, organizational culture and politics, not lack of competence or managerial skill, were the primary reasons for failure. Almost 70 percent of respondents pointed to a lack of understanding about norms and practices — and the poor cultural fit was close behind. When asked what would reduce failure rates, they emphasized constructive feedback and helped with navigating internal networks and gaining insight into organizational and team dynamics.
Offering employees career development opportunities is extremely beneficial
We are incredibly passionate about Behavioural DNA and the impact this scientific insight can have on your teams and your business.
Using SuccessFinder, people develop a healthy and deep trust in each other and the team's purpose — they feel free to express feelings and ideas. Everybody is working toward the same goals. Team members are clear on how to work together, how to contribute their unique strengths, and how to accomplish tasks.
Given the changes in the way organizations are operating and the shifting demographic composition of the workforce, offering career development opportunities to employees could be extremely beneficial to employers. Informal and formal learning experiences can provide employees with a more comprehensive skill set and reassurance that their employer recognizes their value. With new knowledge and abilities, employees will be better prepared to handle new technologies and innovations and may be able to contribute to enhancing their organization’s systems and procedures.
