The Corporate Executive Board estimates that 50% to 70% of executives fail within 18-months of taking on a new role, regardless of whether they were an external hire or promoted from within. Harvard Business Review estimates that the cost of this failure equates to 400% of the executive’s salary.
Why the high failure rate? Research by McKinsey found that three-quarters of executives considered themselves unprepared for a new position because of poor onboarding processes. And in a survey of 2,600 Fortune 1,000 executives conducted by Navalent, 76% said that leadership development processes were inadequate, and 55% rated executive coaching insufficient – if it existed at all.
Our Executive and Team Onboarding program blends the experience of our Executive Coaches and the proprietary Prism® online psychometric tool in a way which enables our clients to more effectively support the transition of Executives into a new role, thereby gaining a significant competitive and commercial advantage.
Scientifically proven, the proprietary Prism® online psychometric tool provides the richest, most nuanced understanding of the "whole person" by integrating six modules across 54 traits and attributes:
During the 30-days before the new Executive joins the organization, both the Executive and the members of their Team complete their Prism® Portraits. Via our technology platform, these Portraits are comparable side-by-side or in aggregate as a Team roll-up for gaining insights on team culture, communication, potential areas of conflict, and more. The Executive will be given access to this platform, with the insights it generates also contributing to the Post-Hire Coaching process …
Our experienced and accredited coaching professionals work with the Executive to help them leverage Prism® insights to achieve greater self-awareness around their leadership strengths, development opportunities, and potential derailers. This is supported by a personalized development program powered by Prism® and featuring world-class, AI-curated digital content from Harvard Business Publishing across 75 practice areas.
Our coaches will also discuss with the Executive insights from the Team Prism® Portraits and help prepare for the first Team Meeting …
The first meeting the Executive has with their new Team is facilitated by the coach. Here, the Executive and the Team to share insights from the Prism® Portraits, the Executive’s vision of success for the Team, and address any concerns the Team may have. The Executive and Team then align on next steps, with the Executive committing to integrate Team feedback and insights into a purpose, vision, and plan for the Team.
Following the meeting, the Executive and coach work together to:
• Create a Team plan based on Prism® Portrait data and feedback from the meeting.
• Identify the most appropriate approach for communicating back to the team (e.g.: one-on-one discussions, coach-facilitated Team meeting, Executive-led Team meeting, etc.)
The Executive the presents the Team Plan to Team and receives final confirmation, agreement, alignment, and inputs.
All of the above is supported by our online Relationship Advisor tool which empowers individuals to improve one-on-one relationships with real-time communication coaching based on their Prism® profiles, and our Team Advisor tool which enables leaders to align and optimize their teams by understanding how the traits and attributes of individuals impact overall group dynamics.