Companies spend huge amounts of money to recruit talent into senior roles, they are then committed to paying significant salaries for the right candidate, and have great expectations of what will happen as a result of hiring this new star!
Then having gone to all that expense, they do the traditional onboarding of meeting and greeting with the relevant parties internally and externally. So far so good – but then what?
It’s sink or swim time! Now no one says that – or perhaps even consciously thinks it – but that is what tends to happen.
Research is now telling us that there is a lot more than needs to be done. In a recent survey in Harvard Business Review over 70% of executives surveyed said that “organisational culture and politics, not lack of competence or managerial skills, were primary reasons of failure”.
I know that when I first got promoted to a senior management position I was terrified of failing – I did not say that to anyone, but I was! I was frightened of making the wrong decisions, or of not making them soon enough. It really did feel like a very lonely place – and even though it is a long time ago, I can still feel that fear intensely. It was not the best way to get started!
So, what do I recommend?
I firmly believe, based on my own experience and my experience of coaching such new leaders, that what is required is a focused program over the first 6 months to fully integrate that executive into their new world.
This program can include the following:
- A detailed First 90 Day Plan to ensure focus is on what matters most
- Development of own vision which integrates and aligns to company vision
- Creation of their plan to deliver on strategy
- Determination of the organisational structure the new recruit designs that they believe is the appropriate structure for future
- Identification of key stakeholders and how to manage.
- 360 feedback after 90 days
- Much more besides!
I know this is an investment of time and money, but there is already a lot at stake – both for the new recruit and for the manager recruiting! Think of the cost of getting this wrong – probably a terrifying figure!
The right investment here is the launch pad that really puts the odds in favour of success.
If you are new to a role, I’d love to hear about your most significant fears or concerns – because we have all had them!
If you would like some support in your new role, I would be delighted to help – I know what it is like to be that “new kid on the block”!
Thoughts? Please share them below. Would love to hear from you!