4. Successful Strategies for Executive Transitions

In my previous article we learnt that nearly half of executive transitions fail[1].

When was the last time that you witnessed a new executive having a perfect transition?

Executive Transitions are one of the most delicate undertakings for any executive and their organisation. Arguably, there are some great guide books out there. Whether it is the seminal work of Michael Watkins “The First 90 Days”[2] or the more recent work by Bradt et al. titled “The New Leader’s 100-Day Action Plan”[3].

Both books are really useful and address a good part of what a leader could work with when going through an onboarding. The First 90 Days uses the so-called STARS Framework as outlined below:

Source: The STARS Framework from The First 90 Days: “Critical Success Strategies for New Leaders at All Levels“, by Michael D. Watkins, Harvard Business Press, 2003

The New Leader’s 100-Day Action Plan also uses a somewhat similar framework:

Source: The New Leader’s 100-Day Action Plan (adapted and updated from the executive summary of “The New Leader’s 100-Day Action Plan 4th” ed. by George B. Bradt et al., 2009

The Issue with Puristic 90-120 Day Frameworks - Whilst some organisations often try to help newly appointed executives by supplying them with mentors or informal “buddy” networks, less than half of external hires and 29% of internal ones find these to be helpful[4].

Watkins came back to revisit his own model from 2008 and in a HBR article in 2017 suggested that “Onboarding Isn’t Enough”[5].

Whilst both models from Watkins & Bradt have their merits and are valuable to be considered, the key question is whether a 90-120 Day focus is enough to propel an executive into a new leadership role and organisation. HBR surveyed 588 senior executives who had recently transitioned into new roles, and found out that it was organisational culture and politics, not lack of technical competence or managerial skills as primary reason for failure as outlined below:

Source: Watkins, Michael D. et al., “Harvard Business Review: Onboarding Isn’t Enough”, May-June 2017 Issue, HBR.org

In 2017 a global survey conducted by Egon Zehnder/Genesis Advisors 198 HR Executives assessed their organisation’s onboarding efforts. Most thought their company did a good job with basic orientation and the legal and procedural formalities of signing up new hires. But only half said their organisations were effective at facilitating alignment between leaders and their teams, and fewer than a third said they actively helped executives adapt to the cultural and political climate; and documented that

robust integration of executive hires can shorten time to productivity by about two months, from six months to four, e.g. through support provided by an Executive Coach specialised in Executive Transitions.

Although organisations invest heavily in their generic leadership development, the onboarding process for the same executives is often rudimentary, failing to accelerate executive transitions & preventing effective returns on investment[6].

Source: Egon Zehnder/Genesis Advisors from: Watkins, Michael D. et al., “Harvard Business Review: Onboarding Isn’t Enough”, May-June 2017 Issue, HBR.org

HBR: “Onboarding” involves not much more than bringing the executive safely on deck.

Moving the focus from pure Onboarding to Integration therefore is more effective. Integration is also a much more aspirational undertaking—doing what it takes to make the new executive a fully functioning and effective member of the senior leadership team as quickly and smoothly as possible. A joint study from the Institute of Executive Development (IED) and Alexcel Group found out that

it takes more than six months for a new Executive to be successfully integrated.

There are variances however between internal and external hires:

McK: The idea that new executives have 100 days to make their mark is a myth.

Source: Gaines-Ross, Leslie, “CEO Capital: A Guide to Building CEO Reputation and Company Success”, Hoboken, NJ: John Wiley & Sons, 2002; “Executive Transitions market study summary report 2008”, a joint report from The Institute of Executive Development and Alexcel Group, 2008

That being said some would argue that Executives who are supported with a specialised Executive Coach and with a high level of mastery of executive transitions are able to significantly reduce the time required in order to successfully transition[7].

A great example are serial Interim Managers. They transition with a high level of effectiveness in often varied circumstances[8]. The study conducted by Alium Partners also found out that remarkably, then manage their transitions in a consistent and structured ways as well as at an extraordinary pace. So whilst Executives are often granted about a 100 days by their organisation to manage their transition and prepare for appropriate action,

interim executives complete their transition and flip into meaningful action in less than 10 days!

One of the reasons is that they use their time effectively and systematically. All of that being said, the research also found out that all too often executives and interim executives still fall into consistent patterns of mistakes.

And identified qualities that enable Executives to successfully manage their transitions:

McKinsey & Co. suggests executives should think about mounting a transition in two equal steps: first take stock, and then take action across the following five dimensions[9]:

1.????Your business or function

2.????Culture

3.????Team

4.????Yourself

5.????Other stakeholders

In Before Onboarding: How to Integrate New Leaders for Quick and Sustained Results, Michael Burroughs[10] goes further to suggest that the executive integration process...

1.????…begins before the new executive’s start date

2.????…is overseen by a process consultant (e.g. an Executive Coach specialised in Executive Transitions)

3.????…involves the new executive leader’s universe so line manager, peers and direct reports (at a minimum) and

4.????…extends beyond the start date for at least the first 90 days

Burroughs goes further to recommend that ?Executive Coaching has proved to be the most effective developmental vehicle for executives. An experienced executive coach can serve a larger role than a leadership or management developer. A good executive coach can also serve as a sounding board and guide during leader transitions. The one-on-one private nature of the coaching process works especially well in this role. The addition of an executive coach at the end of a New Leader Integration process can help ensure that the new leader continues to advance in the right direction once on board.“

HBR: Custom-designed experiences will enable an Executive to

assimilate more rapidly and more effectively.

Michael Watkins et al. subsequently came up with a new framework in order to assess an organisation on its commitment to basic orientation?(signing up new hires and explaining roles and organizational structure),?active assimilation?(making modest efforts to help people understand organizational culture and politics), and?accelerated integration?(investing resources in bringing people up to speed quickly). Their research also found out that custom-designed experiences are key to success. An example of the framework is provided below with sample scores:

Source: Watkins, Michael D. et al., “Harvard Business Review: Onboarding Isn’t Enough”, May-June 2017 Issue, HBR.org

Don’t hesitate to reach out in case you would like to have a conversation about Executive Transitions, how to avoid the biggest mistakes and implement successful strategies that work.

-> If you enjoyed reading this article, you will definitely benefit from reading #MasteringExecutiveTransitions: The Definitive Guide, the #1 New Release on Amazon: https://www.amazon.com/dp/B09NSPW473

[1] Nazemian, Navid, ”The Massive Costs of Failed Executive Onboarding“, LinkedIn, July 2020

[2] Watkins, Michael D., ”The First 90 Days: Critical Success Strategies for New Leaders at All Levels“, Harvard Business Press, 2003

[3] Bradt, George B. et al., “The New Leader’s 100-Day Action Plan: How to Take Charge, Build Your Team, and Get Immediate Results”, John Wiley & Sons, Inc., 2009

[4] Wheeler, Patricia, Phd “Executive transitions market study summary report: 2008,” The Institute of Executive Development, 2008, and “Ascending to the C-Suite,” April 2015, McKinsey.com.

[5] Watkins, Michael D. et al., ”Onboarding Isn’t Enough“, Harvard Business Review, May-June 2017 Issue

[6] Nazemian, Navid, “Successful Strategies for Executive Transitions“, LinkedIn, August 2020

[7] Wheeler, Patricia PhD, “Senior Leadership Transitions: What Makes Them Work and What Causes Them to Fail?”, Worldwide Association of Business Coaches, December 2013

[8] Fishman, Anton: “How Interim Managers transition into new roles a behavioural investigation of successful entry strategies”, First International Conference for Research into Interim Management, Cass Business School, November 2008, Alium Partners Limited

[9] Keller, Scott and Meaney, Mary, McKinsey & Company, “Successfully transitioning to new leadership roles”, May 2018

[10] Burroughs, Michael K., ”Before Onboarding: How to Integrate New Leaders for Quick and Sustained Results“, CreateSpace Inc., Charleston, SC, 2011