5 Critical Steps Successful Leaders Make to Transition to the New Job

New Job 50 Critical Steps Successful Leaders Make to Transition to the New Job Transitioning to a new job is high risk for leaders and managers Front Line Leaders 40% 50% 33% of new external hires into frontline leadership roles fail1 of all direct reports don't consider their manager to be effective2 of new internal leaders into frontline leadership roles fail Senior Leaders 30% 27% 23% of all external hires not of new hires have exited of executives who make performing to expecta- tions within first 2 years3 the organization within 2 years internal transfers fail to meet expectations within 2 years 1 out of 3 new leaders fail within 2 years 33% Payout bonus & stock options Enormous Business Impact Unanticipated turnover of key employees Recruitment costs for re-hire Disruption to the immediate 12 Downtime of business unit people surrounding the new leader4 Poor business results What's the personal impact for leaders? // High personal stress Career derailment Loss of confidence Financial loss What's the financial cost? FOR SENIOR LEADERS FOR FRONTLINE LEADERS Impact 24 times base salarys- Assume impact 66% less or 8 times salary Imagine base salary of $115,000 Imagine base salary of $50,000 Cost is $2.7 million Impact is over $400,000 SOLUTION Scout and assess the situation before taking action Create a transition plan before executing Use coaches and mentors to improve performance Use information to get feedback Flex and adjust to the feedback Results of the Obair High Performance Solution REDUCE RISK HIGHLY COST EFFECTIVE SUCCESSFUL TIME SAVER 33% 12 ***** 5% The best way to get results 1 Assess the business unit and produce a report for the new leader before arrival Consultant briefed on position scope New leader briefed on transition New leader hired process 目 Consultant assesses business unit for new leader New leader briefed Successful Transition and integration plan developed Blueprint Report produced Create a plan for the new leader to enhance execu- tion and manage risk Support team integration Team meeting with Direct Reports Meeting with Boss and Peers within 5 days of starting 4 Executive coaching to support transition Obtain performance feedback at 60 days Development plan for new leader createds 360° feedback report generated OBAIR LEADERSHİP Helping Leaders Succeed Sources: 1. Wellins, R., Selkovits, A, & Mc Grath (2013). Be Better Than Average: A study on the state of frontline leadership. A Trend Research Manuscript of Development Dimensions International. 2. Weaver, P & Mitchell, S. (2102) Lessons for Leaders from the People Who Matter. A Trend Research Manuscript of Development Dimensions International. 3. 2011 Executive Transition Market Study by Institute of Executive Development and Alexcel Group. 4. Watkins, M. (2003). The First 90 Days. Harvard Business School Press 5. Smart, B. (2102) Topgrading. Penguin. 6. Burroughs, M. (2011). Before Onboarding. Seque Consulting Group