/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:
“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:
“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.”
Source: The Leadership Crucible
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Authors look at reasons why internal job applicants who are rejected end up quitting. Research indicates they are nearly two times as likely to leave their organizations compared to those who were either hired for an internal job or had not applied for a new job at all.
Whether you call it the Great Resignation, the big quit, or the turnover tsunami, a lot of people are leaving (or at least thinking about leaving) their jobs. While every sector is being hit, some are suffering greater losses than others.
