Business Week wrote a piece on executive onboarding.
“Despite having a name only a consultant or HR professionsal could love, onboarding is also know as management integration or worse, assimilation coaching—the practice is taking off.
Key Benefits of executive onboarding which the article does not address:
1. Organizations are investing significant amounts or time and money in the process beccuase data shows that CEO failure rate exceed 40% . Given the very high CEO compensation packages, failure of a key leader can cost an organization big bucks. Not to mention internal CHURN—loss of barnd image, strained key customer loss and loss of potential sales.
2. Executive onboarding is like insurance and a tool to help mitigate risk. Like any good insurance policy it protects the executives success and coporate profitability.
3. The trend is emerging now because companies want to help their newly hired executives get “in the saddle” or hit the ground running” and performing at high levels.