Even after your organization has successfully engaged the services of an executive search firm and made your selection from the presented candidates, there are still significant challenges ahead. It's incredibly important to have a plan in hand for onboarding the new executive, as high-level hires are some of the riskiest. In fact, according to Anne Fisher as quoted in Forbes, "About 40% of executives who change jobs or get promoted fail in the first 18 months."
Of course, this failure rate isn't entirely due to poor onboarding procedures, as many of these hires wouldn't have been a good fit for their new organizations anyway. Working with a global executive search firm can help you reduce the risk of your new hire failing for this reason.
However, it's still important to remember that a dramatic change like a new executive coming in needs to be handled delicately. To make the transition process easier for the new hire, be sure to speak to the other executives in the company and clearly outline how each of them can help their new team member integrate into the work environment. When introducing a new hire to current employees, it's important to explain why the decision was made and what this person will be able to bring to the company.
Once the new hire has actually started at the company, you should come up with an action plan with realistic timeframes for the first few months to help the transition go as smoothly as possible.
Finding people is easy, but finding the RIGHT people is not. YES Partners helps companies FIND the right people – for all company functions, across many industries and globally.
