Finding the perfect hire for a senior executive position can take months of searching and interviewing — but that's only half the battle.
Without an effective onboarding strategy , you may end up repeating your search in 12-18 months. Whether you let them go for failing to hit their target or they leave out of frustration, the result is the same.
When that happens, you've not only wasted time and effort, but you've also lost a substantial chunk of your budget. Gallup research shows that it costs one-half to two times an employee's salary to replace them — and a senior executive's salary is substantial.
Their departure also leaves a hole in your leadership structure that can impact team morale and productivity.
Therefore, hiring and retaining senior executives requires a flexible onboarding process that strategically integrates them into their new roles and the company as a whole.
Related: How to Create a Strategic Hiring Plan
1. Start before their first day
Expecting new hires to "hit the ground running" doesn't make much sense. Why would you want them running before they know where the goal line is? They may end up heading in the wrong direction.
It's much more effective to give them a map of the territory and let them get their feet under them. Prepare all the information they'll need and have it ready before they walk in the door for the first time: key stakeholder names, organizational charts , a background on their department and team, etc.
That's not to say you should dump it all on the new executive all at once. To avoid overwhelming them, gradually provide the information over their first two or three weeks.
You can also start adding essential activities to their calendar before day one. Meaningful engagements might include meetings with board members, executive teams, and subordinates. Team or one-on-one lunches are a great way for them to get to know their direct reports and other leadership team members — and all the local lunch spots.
Related: How to Breathe New Life into Your Formal Onboarding Process
2. Set clear expectations from the beginning
When onboarding a senior executive, carefully assess their experience and determine which strategies align with your company culture. They may be eager to bring what they know to your table but respectfully decline it upfront if they propose an approach that isn't a good fit.
Likewise, develop a 30-, 60-, or 90-day plan with the new executive to establish realistic goals and create a definition of success. This gives them a target to shoot for and allows you to determine where they may need extra coaching.
Be careful not to make this plan seem punitive. Be clear that the goal is to align them with the leadership team's long-term vision. They should understand that it's a way to ensure success, not punish failure.
Related: 5 Ways to Keep Your Vision and Mission Intact as Your Team Grows
3. Foster a supportive environment
Success thrives in supportive environments, but what does a "supportive environment" look like for a newly hired senior executive? There's no magic formula, but some elements could be assigning them a mentor or coach, creating opportunities for feedback and open communication , and scheduling regular sync-ups with the leadership team.
Mentors fulfill a different role for executive-level hires than they do for entry-level employees. At the entry-level, mentors help hires adapt to the general corporate culture, learn new skills, teach them how to network, etc. Senior executives do not need that level of coaching but may value help assimilating into the company's unique culture, methodologies, and processes.
Communication is the foundation of a supportive environment. It helps build trust and rapport. Unfortunately, many businesses struggle with maintaining open lines of communication, especially at scale. They turn to bots and software automation to help bridge the gap, but this can come off as faceless and impersonal.
Nothing replaces regular meetings and informal gatherings for allowing new executives to engage in candid discussions about roles, expectations, and team dynamics. Maintaining continuous communication and regular sync-ups with the leadership team go hand-in-hand.
One-on-one meetings create opportunities for open dialogue, allowing new executives to discuss their progress, challenges, and ideas. These check-ins help the flow of communication and strengthen team relationships, and they also provide opportunities for course corrections, if needed.
4. Build a flexible runway
Onboarding programs aren't "one size fits all." Everyone adapts at their own pace, and some need a little more runway than others. Some fit into their new role in a few months, while others can take up to a year. It doesn't mean the latter is wrong for the role; there could be any number of reasons why it takes them a little longer.
For example, if they've relocated for the role, they're not just adapting to a new job and company culture. They're also adapting to a new city, a new house, new schools for their kids, new healthcare providers, etc. They have a lot eating up their mental bandwidth and energy. Given time to sort all that out, however, they might become one of the strongest leaders in the company.
As part of your onboarding runway, make ongoing leadership development programs available. Even senior executives look for opportunities for personal and professional growth within the company. On the flip side, they may be able to draw from the well of their experience to add to your leadership training efforts.
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