Core Executive Transition Practices to Prioritize Strategic Goals for the Future.
What it is
Over the past decade, much of the workforce has evolved into a more fluid, “gig-like” environment, taking advantage of internal and external opportunity marketplaces. The expectation that a worker grows up and stays with the same organization or business line has decreased substantially. This is even more true when discussing executive-level roles, where diverse backgrounds and a breadth of experiences are now key recruiting points. This shift creates a number of transitioning executives within organizations each year, many of whom are joining the organization for the first time. The onboarding process of getting a new executive “up to speed” can be intimidating, long, and sometimes disorganized, causing a lag in productivity and perhaps a longer time to value.
This focuses on the foundational work and attention needed for an executive to successfully start a new position. One way to imagine it is the narrowest part of a funnel, considering only the most critical and urgent steps to gain quick momentum. At a minimum, a smooth executive transition should empower the person in role to quickly grasp the strategic needs and priorities required and determine a short- and long-term plan to succeed. This should be done through a series of interviews with peers, historical context, information of the job, and strategic planning on how to best prioritize individual and team time.
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Why use it
Most new executives are eager to jump right into the role and show immediate actions, therefore proving they were the right “fit” for the job. However, while the first few months in role tend to feel like a whirlwind, that’s when executives usually have the most flexibility and grace of time. Capitalizing on time up front to strategically plan and prioritize allows for a shorter time to value in role and may not present itself again once business is in full swing.
Having a step-by-step guide from day 1 which shows an accelerated time to value and an actionable plan is key to starting a transitioning executive on the right foot. It’s critical that they undergo a strategic thought process, and come away with a list of priorities, a stronger network of peers, and a 180-day plan to use as a guide and continue to evolve as time passes.
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Key practices at this level
Identifying Critical Needs and Goals for the Role.
Reviewing available information and insights to gain an understanding into the immediate priorities and goals for the new position.?
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Networking with Internal Clients & Peers to Understand Priorities.
Identifying the key stakeholders and partners and developing a data and insight collection process that leads to an expanded list of priorities.
Determining the most strategic allocation of time for an Executive.
Understanding the key roles that the new executive will play and developing a time allocation framework to guide the amount of time to be spent in each role.
Defining the highest strategic Initiatives to prioritize.
Reviewing ?the key priorities and assessing their relative importance and urgency in order to assess the timeframes for each to be addressed and completed.
Creating a 180-day plan with actions and milestones.
Developing an action plan for the first six months that will address each ley priority and its associated actions and milestones.
This overview is part of a progression set comprised of Core, Advanced, and Emerging Executive Transition practices. As a Wowledge member, you will have access to the specific step-by-step guides, tools, templates, and insights needed to implement each of these practices for all three levels of executive transitions and many other key HR topics. Check our catalog to learn more.
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