The top 5 mistakes when onboarding a new executive
And the actions you can take to avoid them
Image: canva.com
A common assumption with a senior new hire, is that their technical capabilities as a high-performing executive, will extend to successfully navigating their transition to the next level or next organisation.
However, a McKinsey & Company report, ‘Ascending to the C-Suite’, revealed that over 50 per cent of executives felt they inadequately prepared themselves for the new position. Moreover, only 27 per cent responded that their organisation had provided the right support during their transition.
According to the Boston Consulting Group, organisations with effective onboarding programs report 2.5 times higher revenue growth and 1.9 times greater profit margin than those with average onboarding activities. They also show faster leadership productivity times for new hires.
In ‘Successfully Transitioning to New Leadership Roles’, McKinsey states that interventions, such as executive coaching and tailored support plans, can “double the likelihood of success.”
Given the cost of executive transition, high rates of failure and the financial upside of investing in effective onboarding programs, smart organisations provide this crucial support.
But how do you get it right? Let’s explore the top 5 mistakes with executive onboarding and actions you can take to avoid them. Plus, we’ll identify who needs to join the support squad to help your new executive be a resounding success.
1. Too much focus on the technical
With executive onboarding, it’s not enough to focus on the technical and compliance areas alone. Knowledge gaps are important, but in the early stages, priority must also be given to the emotional and psychological aspects of a major transition.
A new executive is making a significant cultural adjustment when joining an organisation. There are unfamiliar cultural rules and nuances at play. Even when promoted from within, ascending to the higher levels within the company brings its own challenges. Confidence often falters, impacting early perceptions by the team, wider stakeholders and importantly, the self.
Add the possibility of family to settle in and personal logistics to navigate too and your new executive is transitioning on many levels.
Action: prioritise the cultural and emotional aspects of the transition
Provide support around understanding and assimilating with the company’s culture. Encourage a flexible and adaptable mindset, and focus on important goals such as relationship building. Find ways to normalise the emotional roller coaster they may be experiencing. Support your new hire to build their confidence and develop coping strategies.
2. Expecting technical ability to equal easy transition
Though necessary for a successful transition, technical ability alone won’t guarantee it. It’s common for a new hire to focus on what’s familiar, rather than getting to know other functions and stakeholders across the business. Traversing the void between leadership levels and navigating relationships can be tough going alone. It takes a team of supporters to successfully transition a new executive.
Action: provide the support network for success
Planning early and establishing the executive’s strengths, stressors and possible derailers, means you can facilitate the relational support needed from a team of enablers. This team ideally includes a mentor, coach and a sponsor.
Some individuals on the team can provide multiple roles. Structuring this support network around your new executive will help them to navigate organisational politics, develop relationships and minimise stressors.
Providing external coaching or mentoring support for transitioning executives complements internal sources, plus it frees the individual from any barriers around internal politics.
3. Assuming the hiring manager has it in hand
As a key player in the executive’s transition, their immediate leader must provide clarity around priorities and expectations. They are also well-positioned to act as the executive’s sponsor. However, it’s not always a given that they’ll know how to provide this guidance, even where this person is an experiences C suite leader. Critical conversations about expectations are often avoided, leading to misalignment.
Action: educate and support them
Sometimes hiring managers lack confidence or knowledge about how to give support, or assume it isn’t required. Educate them on the best way to do this. Help devise a transition plan that includes spending appropriate time with their new executive and having those critical conversations around expectations. Encourage openness and clarity to develop trust and connection. The quality of this relationship can make or break a leadership transition.
4. Not acting quickly when things go wrong
A lack of regular and clearly articulated performance measures makes it difficult to spot issues and address them early, meaning probation periods and recruitment guaranteed refunds are long gone before the problem becomes clear. Opportunity costs may be high and team morale low. Perhaps the executive is about to leave. Or arguably worse, they’re about to hunker down and try to ride it out.
Action: unearth issues early and create a plan
Develop a tailored onboarding checklist, with regular check-ins on how the executive is going. Identify their values, strengths and challenges early. You’ll pick up on dissatisfaction or lack of capability in time to take corrective measures.
Create a 30-60-90 day plan around key focus areas, with clearly defined goals and success indicators. While this plan will need to be reasonably flexible, it will provide a very useful benchmark for performance.
5. Not leveraging the executive’s strengths
New executives are often brought in to lead organisational change or disrupt the status quo. Their efforts can be met with resistance from key stakeholders and internal political forces may start working against them.
Eventually, tired of swimming against the tide, your executive may start to mould into the existing culture. The opportunity to leverage their attributes and unique talents is then lost.
Action: remove the obstacles
This is where the support team comes into play again. These influencers can help you remove organisational hurdles. Ensure the executive’s strengths and talents are identified early. Communicate these assets to their hiring manager and other key members of the support squad. Share plans to leverage these strengths and garner support.
Take these actions to avoid failure
An effective onboarding process is about providing your new executive with a solid transition plan. Yes, it must involve technical elements, but more importantly it includes the cultural, emotional and relational support that will accelerate their successful transition into the role.
Given the significant benefits of investing in your new executive’s transition and the high risks of failure if you don’t, avoid costly mistakes and apply these onboarding steps instead. It will go a long way towards their successful future, and that of your organisation.
For more information on how Lucent Transition Days can help with your executive onboarding, email or arrange a call with us and sign up for our newsletter for more successful executive transition insights.
