In the war for talent, hiring is just the first battle.
50% = the probability that your new hire will leave or be fired in the first three years.
40% = the percentage of new hires that fail within the first 18 months.
1.4-10+ times the employee’s salary = the cost estimates for unsuccessful hires.
(Sources are the American Management Association and the California Strategic Human Resources Partnership, a consortium of Fortune 500 executives.)
Many organizations are attempting to beat these odds with onboarding processes to make new hires feel welcome, valued and prepared.
The effectiveness of these processes is compromised when they fail to address the leadership challenges executives face in a new environment. Stakeholders and networks of influence must be assessed and relationships developed. Style and approach must be made to fit the new culture. Ineffective behaviors that can prove fatal in the new organization must be recognized and eradicated. And all too often new leaders are left to figure out this “soft stuff” without support.
There are a multitude of leadership issues that can cause new hires to fail. The most cost effective way to address this is with onboarding coaching.
Onboarding coaching:
- Significantly shortens the ramp time to effectiveness for leaders in new roles
- Maximizes the return on coaching by investing early and reaping the benefits for years to follow
- Leverages the window of vulnerability created by transition, to eradicate ineffective leadership behaviors that even the best leaders bring with them
- Includes stakeholders for an integrated approach, and keeps organizational effectiveness high by identifying any resistance or uncertainty created by transition
- Preserves treasured aspects of organizational culture while capitalizing on fresh ideas and approaches that new hires bring
Our onboarding coaching has been effective in organizations ranging from Fortune 500 companies and the US House of Representatives.
Our comprehensive solution can be tailored to address the onboarding coaching needs of medium-sized businesses through the scalability and intercultural savvy required in a global enterprise.
Click here to learn more about our solution in depth.