Onboarding Executives

May08
Onboarding Executives

“About 40% of executives who change jobs or get promoted, fail in the first 18 months.”

The ‘Leadership 101’ is a series of leadership training articles. We started this knowledge base with the goal of bringing different leadership perspectives from all corners of the web into one easily digestible format. In this series we will be looking at HR industry best practices and trends; in an attempt to keep you informed, while adding to your leadership arsenal. In an attempt to keep this forum open we would like to invite you to provide feedback here or through our@Hire4Impact feed on Twitter

“About 40% of executives who change jobs or get promoted, fail in the first 18 months.” A staggering statistic from the article ‘New Job? Get a headstart now’ (Anne Fisher, 2012). Before we carry on, here’s a quick recap:

In our last installment we talked about onboarding; specifically, the 4 essential tactics that will help your onboarding process (The Onboarding Battle). To put it simply: be prepared on the first day (and before); set expectations early; provide a guide; and focus on relationships. Before we continue, let’s take a quick look at some of the benefits associated with a rock-solid onboarding plan:

  • New hires feel welcome and are prepared to help the company complete its mission;
  • New hires are valued and feel confident carrying out their tasks;
  • Reduced costs associated with turnover;
  • Training lead times are reduced;
  • Increased morale; and most importantly
  • Strengthens the culture of the organization as a whole.

Now you’ve probably heard us mention that the cost of a mis-hire is approximately 3 times their salary. Well here’s another statistic for you to wrap your head around: according to a 2008 IDC report, “US and UK employees cost businesses $37 billion every year because they do not fully understand their jobs.”

This report is a little older and is based off of companies with 100,000 employees, but it does lend some perspective. These issues could be caused by a number of problems:

  • New hires have misunderstood/misinterpreted the task at hand;
  • New hires were not informed on company rules/policies and business processes; or
  • There is a ‘one-size-fits-all’ mentality to the onboarding plan.

In any case, it is rarely just one thing that causes the problem. Moreover, there are still some companies out there that don’t even have an onboarding plan in place.

This week we will be looking at onboarding at the executive level. Think back to that little nugget at the beginning of this article. The article goes on to note that this failure rate stood for at least 15 years. What can we do as an HR community to rectify this situation? If you’re one of those companies using a one-size-fits-all approach, then this article is for you! The problem with a ‘one-size-fits-all’ approach is that most onboarding plans are designed for employees and focus on standard topics such as organization policies, HR procedures, and the all-important “here’s the cafeteria.”

When companies fill an executive position, one of two things occurs. Either they hire a candidate from outside the organization, or they promote someone internally. Any way you ‘slice’ it, this individual has to learn all the different ways in which their role is affected – unwritten policies and informal networks that influence how thing really get done. Suppose the new executive was promoted, and for that very reason lacks the necessary leadership experience required to succed – what then?

Whatever the scenario, there needs to be a specialized onboarding strategy in place to bridge the gap for these executives. According to Maggie Moore (Spotlight on Executive Onboarding), “On average, it takes new executives a minimum of six months to become fully productive in their new role.” That’s twice the time required to onboard general employees.

To that end, here are 5 tips to consider for implementing a successful Executive Onboarding plan:

  1. Program objectives should be relevant to your organization
    This is a no-brainer. For your executive onboarding plan to be a success, it has to be tailored to the executives in your organization. A copy-and-paste job will only hurt you in the long run. At the very least, it should help new executives understand the organization’s business goals, culture, clarify performance expectations, and shorten the learning curve associated with the new position.
  2. Solicit buy-in from senior leadership
    As with any operation or process within the organization, it is extremely important to have program support from senior leadership. Failure to do so will only create more roadblocks and ultimately result in the failure of your new executive (cue the blame game).
  3. Provide a blended learning approach
    Make it as easy as possible for the new executive with the right tools and information they need (website/intranet, coaching, mentoring). Make sure (if and whenever possible) that these materials are available in more than one format and easily digestible. More importantly, these materials need to be available at all time during the onboarding process.
  4. Establish accountability
    Assign an executive-level peer or mentor that will ensure the onboarding process is carried out through to completion. The peer/mentor should also be actively providing feedback and answering any questions the candidate may have.
  5. Monitor and Evaluate
    No process is complete without a clear set of metrics – as part of the executive onboarding plan, key success metrics should be recorded and used to evaluate the success of the program.

Taking these initial steps will ensure your organization’s executive onboarding plan is a success. Not only will you have strong leadership within your organization, but leadership retention will also improve.

If you’d like to learn more about creating an onboarding plan, join us for a complementary Lunch & Learn on May 15, 2013 at the Dublin Entrepreneurial Center. Topic of discussion: Create a Rock-solid Onboarding Plan.

Related Articles
The Onboarding Battle
New Job? Get a head start now

VisionSpark is the Talent Planning and Retained Executive Search Firm of Alec Broadfoot and Adam McCampbell. For more news and updates, follow the conversation at @Hire4Impact or like us on Facebook.

Infograph: Who are Millennials?

Mar26

Managing Millennials in the WorkplaceThe ‘Leadership 101’ is a series of leadership training articles. We started this knowledge base with the goal of bringing different leadership perspectives from all corners of the web into one easily digestible format. In this series we will be looking at HR industry best practices and trends; in an attempt to keep you informed, while adding to your leadership arsenal. In an attempt to keep this forum open we would like to invite you to provide feedback here or through our@Hire4Impact feed on Twitter

In our last post, we talked about managing Millennials in the workplace. So we thought we’d share our infograph: Who Are Millennials?

For those who couldn’t make it to our last Lunch and Learn event, here are some of the things you missed.

Enjoy!

Millennial Infograph

A look at Millennials by the numbers

 

VisionSpark is the Talent Planning and Retained Executive Search Firm of Alec Broadfoot and Adam McCampbell. For more news and updates, follow the conversation at @Hire4Impact or like us on Facebook.

2013 Outlook: Developing Workforce Trends

Dec17
Developing Workforce Trends

Developing Workforce Trends

The ‘Leadership 101’ is a series of leadership training articles. We started this knowledge base with the goal of bringing different leadership perspectives from all corners of the web into one easily digestible format. In this series we will be looking at HR industry best practices and trends; in an attempt to keep you informed, while adding to your leadership arsenal. In an attempt to keep this forum open we would like to invite you to provide feedback here or through our@Hire4Impact feed on Twitter

Over the last few years we’ve seen a large number of organizations doing their best to cope with financial and economic crisis. Some struggled through, while others made it just fine. One thing that we know to be true though is that these organizations have had to streamline themselves and come back more focused/specialized. The main objective is to maximize the ROI on Human Capital and HR initiatives. Business leaders and CEOs need to plan on making strategic changes if they are going to survive this difficult period. Strong leadership and professional skills are must for today’s talent; which is becoming increasingly difficult because of the shortage of experienced talent.

This presents us with an interesting situation. On one hand you have skilled professionals and leaders leaving the workforce, and on the other, inexperienced talent entering the workplace. With employment rates still struggling, we are starting to see several trends developing.

  1. Productivity gap continues to grow.
    In an attempt to manage costs and remain profitable, large organizations are forced to cut junior positions. The problem though, is that productivity drops because there isn’t manpower to sustain output. The ones left have to work harder, which in turn requires them to be compensated for their efforts. This lowers the ROI of the remaining talent.
  2. Difficult job market for younger talent.
    With continued cut backs and organizational restructuring, the younger talent has been hit the hardest. Over time, we have started to see an uneven organizational structure with more senior employees than younger/mid-level employees. If this trend continues, we are going to end up with a serious problem on our hands. When it counts, we simply will not have the experienced talent to fill in key positions.
  3. Disengaged employees.
    As organizations continue to make cutbacks and layoffs, it is becoming increasingly important for organizations to focus on employee engagement and retention. Those members of your team that do remain may fear that they could be next. It is important to make sure that your remaining team members remain engaged. Failure to do this will result in poor performance and productivity levels. This is why we have seen a large number of reports and studies that have been geared towards employer branding and other engagement programs.

As these trends continue to develop and we move into 2013, there a few key points to remember:

  • The talent supply chain deserves and all other talent sourcing initiatives require the same attention as any part of your organization’s resources.
  • Engagement is still an issue. Failure to pay attention to this will result in turnover and retention issues.
  • Be mindful of incentive programs and try to remember that not everyone is motivated by money. Make it a point to use assessment tests whenever possible. These may help you figure out what motivates your talent.
  • Invest in analytics (the right analytics). With an abundance of information, it is important for you to focus on the right metrics to ensure you are getting the best human capital ROI.

VisionSpark is the Talent Planning and Retained Executive Search Firm of Alec Broadfoot and Adam McCampbell. For more news and updates, follow the conversation at @Hire4Impact or like us on Facebook.

Communicating and Relating to a Multi-Generation, Diverse Workforce

Oct11
Multiple Generations in the workforce
Multiple Generations in the workforce

Have you ever quit a job? Why? Was it for more money? Better career opportunity? If you said it was because of a bad boss, you would not be alone. According to a Gallop Survey of one million US workers, the number one reason people quit a job
is due to a bad boss or supervisor.  In a book based on this research, First Break All the Rules by Marcus Buckingham, he states “Talented, engaged employees must have great managers, how productive they are and how long they stay is directly determined by their relationship with their manager.”

While that research is a decade old it is more important today than ever before. Over the past five to seven years Generation Y has entered the workforce bringing the total number of generations in the office to four.  Nearly 60 percent of HR managers at large companies have observed office conflicts from generational differences, according to the Society of Human Resource Management.

Who are the generations? They are Traditionalists (1900-1945), Baby Boomers (1946-1964), Generation X (1965-1979), and Generation Y (1980-2000). Each generation views work differently. Let’s take a peek at what makes each generation tick. When talking about the generations, one must look at the events that shaped their character and their personalities.

For the most part the Traditionalists have retired and left the workforce, but many of them created companies and their values and ways of doing things are still in place. The Traditionalists were heavily impacted by the World Wars. The leadership style of this generation was formed by the military. They are very comfortable in a top down management structure. They communicate on a “need to know” basis, and all information must go through the appropriate channels. The Great Depression fresh in their mind, created a cautious generation with an aptitude for saving their earnings and protecting their wealth. Their ultimate aim was to join a company and stay with the same company until they retired. This is not unusual, given their deep devotion and trust to institutions; church, government, marriage etc.

Baby Boomers are the dominant force of the C level today. The time period they grew up in was a bit different than their Traditionalist parents. They challenged the status quo with Woodstock and the Civil Rights movement, which made them optimistic and willing to speak out. Their trust in institutions weakened with events at Watergate and Vietnam. Yet the Boomers main influencer was their sheer size; on most accounts there are 80 million of them. This made this generation very competitive. They had to claw and fight for everything, spots on the sports team in school, scholarships to college and the corner office. They are proud of their experiences and hard work. They are more loyal to a career than a company, but for the most part staying with one company was good for their career. Not wanting to give a leg up to any peer or junior associate eyeing their job they saw information as power and did not always share information openly. While many Boomers are hitting retirement age, most have no intentions of retiring due to their hard work and perseverance in getting to the top (not to mention lousy 401ks).

While Traditionalists and Baby Boomers have significant differences, they are similar in their willingness to stick it out with one company due to their loyalty for that company or career. That changes with the next two generations. Generation X was raised during constant change of the 80’s and 90’s. They saw the advent of the personal computer, 24/7 cable television, and the ever shrinking world. They witnessed mass lay-offs of their parents. This impacted them greatly, since many of their parents sacrificed everything for that company or career. In many cases even families were sacrificed, the divorce rate tripled during the formative years of this generation. This created the “latch-key” kids, who often were left alone in after school programs or at home; creating a fiercely independent group of people. This generation got dubbed “slackers” because they did not have the same work ethic. They did not want to work seventy hours a week like the Boomers. The realities were they didn’t want to spend that much time away from their families as their parents did often. Many became entrepreneurs in order to have more flexibility in their schedules and first coined the phrase “work life balance”. Gen-X saw so much change growing up that when it comes to communicating they want it straight, no BS. How does this impact me? What do I need to do?  Gen-X values the profession above their company or career. If another job offers a better opportunity to sharpen their skills they will take it. They were the first to start “job-hopping”, but not the last.

The traits of Gen-X are shared with Generation Y but often in more exaggerated ways. This generation was marked by tragedy, not in far off countries like their parents and grandparents, but at home.  Events of 9/11, Columbine and Oklahoma City bombing rocked this generation. They are drawn to friends and family because they understand life is fleeting. Another major shaper of this generation was the self-esteem movement. As children this generation was told by teachers and parents they were special and they must express themselves. They were brought into major family decisions and their opinion counted. Parents operated much like consultants giving them feedback on how to make the grade or shoot the basketball. Many of these parents have had a hard time letting go and have followed their children to college and even the office, getting the nickname “helicopter parents”.  Gen-Y is comfortable giving their opinion to supervisors, even the CEO. They want to see how their work counts; they hate the phrase “entry level”.  They are constantly connected to technology due to the fact they were the first generation to have computers from kindergarten. Their comfort with technology gives them a piece of leverage that “entry-level” workers never possessed in previous generations. Many Gen-Y members double as IT people in small companies and are often mentoring other generations. It’s been said this generation is the most talented and high maintenance group than any other previous generation.  They desire as much information as possible. They desire constant feedback from supervisors telling them how to get better, so than can advance.  They value a very relational atmosphere with co-workers and supervisors. They are extremely collaborative and do their best work with other peers and minimal supervisor input. If they do not get what they want from a supervisor or if they decide they would rather live in Oregon they will quit. The key to understanding Gen-X and Gen-Y is identifying where they place work in their values. Traditionalists and Boomers organized their lives around either their company or career. Gen-X and Gen-Y organize their profession or job around their lives. For Gen-X their focus is on family and for Gen-Y, their social life.

As I said earlier, now more than ever companies must hire talented managers. Gen-X and Gen-Y will not put up with managers who do not challenge, inspire or care for them as previous generations might have done. Companies must invest in their selection process especially when it comes to managers. Companies must also look at their mix of generations in the office and especially at the leadership level. Does one generation’s preferred method of communication “win-out”? Does that cause conflict or put up road blocks to getting other talented people in the door?

To learn more about managing a multi-generation workforce and to find out what industry leaders are doing to Hire4Impact, visit VisionSpark.

VisionSpark is the Talent Planning and Executive Search Firm of Alec Broadfoot and Adam McCampbell. For more news and updates, follow the conversation at@Hire4Impact.

Choosing Winners: An Introduction

Sep15
Attract winners to your winning team

Are companies today maximizing their talent’s potential? Better yet, do these companies have the right talent in place? We all know the costs associated with hiring the wrong people – high turnover rates and wasted resources. Many recruiters/ search agents talk about reducing employee turnover through continuous learning, career growth opportunities, and team support. On paper, this looks great – it’s a winning strategy, right? Well if that’s the case, why aren’t more companies doing this? The answer is simple, and it’s something we are all guilty of doing. We get caught up in the day-to-day tasks that are integral to your company’s success. This is especially true for small to medium sized business owners. Today’s society wants to give everyone a trophy for participating and not think in terms of winning and loosing. Business owners can not afford to think this way, in hiring there are winners and losers. Hiring the right people from the onset is vital, and it begins with hiring “leaders” and not “employees.”

As a small/medium sized business, what processes or structures do you have in place to attract talent for your specific culture? Once they are hired what plan do you use to grow talent throughout the organization? Really step back and scrutinize your organization. Are you empowering your employees at all levels throughout the organization? These are tough questions which, if answered correctly, will cause you to stop and think.

When bringing on new talent, you want to make sure that they understand your organization’s goals, culture, and the industry. I’m sure that as you’re reading this, you may be nodding your head. If this is true, shouldn’t the same apply if you’re working with a recruiter? After all, they’re an extension of your HR department. Remember that when hiring the talent, you also have to make sure that they are receiving the right training from the beginning – avoid committing one of the ‘7Deadly Sins of Hiring’ (On Boarding). At the very least, you should avoid using/implementing an incomplete HR plan. Once you have those new hires trained and acclimated with the organization, follow-up in a meaningful and measureable manner.

To learn more about the ‘7Deadly Sins of Hiring’ and to find out what industry leaders are doing to Hire4Impact, visit VisionSpark.

VisionSpark is the Talent Planning and Executive Search Firm of Alec Broadfoot and Adam McCampbell. For more news and updates, follow the conversation at @Hire4Impact.

 

Assessment Tests: Saving you Time and Money

Sep06

We’ve seen a recent trend develop that places heavy emphasis on corporate culture. As we mentioned in our previous article, the people in your organization are your greatest resource. Helping them realize their full potential will only help you in the long run. For this to happen, your organization has to be hiring the right people from the onset. Unless you’re a super-brand, finding that talent is easier said than done.

In our previous blog posts we shed some light on the issue of corporate culture, but more importantly in our ‘7 Deadly Sins of Hiring’ article, we identified some of the biggest mistakes hiring managers are still making today. That being said, you’re probably wondering how to avoid making such mistakes. Let’s take a look at Assessment Testing.

Assessment Testing measures your talent, both current and future prospects, against a predetermined set of criteria. These tests fall into a number of categories, but their results are generally used to screen and identify the ‘winners’ – those individuals that possess leadership qualities.  In the end, assessments will help you identify whether or not a candidate is the right fit for a given position. Below are some key benefits of assessment testing as detailed by Sharlyn Lauby – consultant and author of the HRBartender blog.

  1. Assessment tests allow you the opportunity to be objective in the hiring process, allowing you to focus on the candidates that will be the best fit for the position and your organization.
  2. Assessment tests let you streamline your hiring process, saving you time, money and other valuable resources in the future.
  3. Pre-employment assessments can help improve hire quality and reduce employee turnover.

In the long run assessments will save you time and money, while streamlining your organization’s processes.

If you’d like to learn more about assessment testing check out VisionSpark and register for the upcoming Hire4Impact event.

VisionSpark is the Talent Planning and Executive Search Firm of Alec Broadfoot and Adam McCampbell. For more news and updates, follow the conversation at @Hire4Impact.

 

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