Flipping a Coin on New Executives? (page 2)
Ask yourself these questions before you set them up to fail:
- “Do they have the time, tools, and training to do the job?”
- “Are your expectations clear?”
- “Who will mentor them in their new role, and realistically, has time been set aside for that activity?”
Both external and internal hires need support. Organizations are accustomed to providing outside hires with resources and tools to get up to speed. New hires often require them too, but are reluctant to ask.
Invest in coaching and mentoring. An executive coach who works in transition management can provide assistance in helping a new leader become comfortable in their new role.
Other senior leaders, including the recently retired, can can be a transitional resource. They know the job because they have done it. This isn’t always an option, depending on current situation. Perhaps their retirement was under uncomfortable circumstances. Or maybe yours is a case of “out with old thinking and in with new.” Our point is simply,
“Get your new executives some help in assimilating their respective roles.”
Results suggest that the few hours it takes to help senior executives assimilate in their new roles can prevent the expensive loss of talent as well as the loss of critical time getting them up to speed.
It’s a big investment. Why wouldn’t you back it up with a transitional catalyst?
Find mistakes early and take decisive action. Be vigilant to what is going on. If problems occur, jump on them sooner than you might in a typical situation. Interventions are essential. As the authors of the study say, “the cost of having an under-performing executive in a critical role for too long is too high.”
Organizations must be honest with themselves when they hire a senior leader. The individual, as talented and competent as he or she may be, will need the support of others when taking the new job. New leaders also must challenge themselves to develop their leadership style so that they effectively influence their new stakeholders.
At Magis, we believe that new leaders are more effective when responsibly mentored.
This information is the property of Magis – The Achievement Company, and may not be copied or reproduced without specific written permission.
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