Think about the last time your company purchased a piece of capital equipment or computer system. Assume the purchase price was between $150,000 and $300,000. Then let’s add in the cost of installation, service contracts, additional hardware and software, and insurance. People will need to be trained on how to use the new equipment or computer. Lastly, there is the cost benefit analysis to monitor the investment against predetermined parameters.
Now think about the last time your company hired a senior executive. Assume the salary and bonus was between $150,000 and $300,000. Add the direct costs of employee benefits and pension, and a multitude of indirect costs. And these are recurring costs where as the purchase price of the machine or computer is paid once.
When a costly piece of equipment or computer hardware is purchased, measures are taken to ensure correct installation. It is tested and checked to make sure it is working properly before putting it on line. Staff is trained to operate the new equipment and to understand why the company brought it in, but what about the investment in a new executive? Typically, when new executives arrive on the job, they are shown to their office, introduced around the company, meet with human resources, are taken to lunch, and then left to “get on with it.”
It is common for companies to view capital expenditures differently than employee compensation. They feel that senior executives should not need the same care and attention as a large capital investment. The long-term success of a new senior executive is often determined within the first 60 days of employment. First interactions with the rest of the senior management team are critical. Usually the new executive has no knowledge of the history or dynamics of the team. Consequently, these interactions are fraught with danger. In large companies, it can be compared to walking through a mine field, and sometimes new executives do not know they have blown themselves up for six months. If new executives are allowed to self-destruct, the investment becomes worthless. So how can a company protect its investment in a new executive hire?
There are two very effective ways to help ensure the long-term investment in a new senior executive. The first is a strong in-bounding program and the second is coaching. In-bounding is a program that maps out the first 45 – 60 days the new executive is with the company. It is designed to help the new executive integrate into the company quickly and successfully. In-bounding formalizes a process that is often left to the individual hired and to chance. Coaching helps the new executive better understand culture, personalities and style of the new company, and adjust to a new environment.
In-Bounding
In-bounding should be a custom-designed program that helps new employees understand the company, the management, their peers and their reports. It should carefully map out everyone this individual needs to meet and what information the executive needs to know in order to have a full understanding of the company. In the beginning, this program would include a detailed schedule for the first two or three weeks with the company. It would provide a brief summary of the background of people to be met, their respective roles in the company, and how and why they and their department will interact with the new executive and his role. Having met the senior management team, the new executive should also meet key direct reports of each senior manager. This will serve to develop an understanding in the company of why the new executive was hired and to help the new executive understand how to get things done in a new company.
In addition to meeting key employees, the new executive should be walked through key business processes. Those senior managers responsible for each key segment or function of the business should personally provide this overview. The new executive should understand how the company goes to market, manufactures or provides its goods or services, develops and designs new products or services, and the relationship with key customers. This will facilitate for the new executive an understanding of key opportunities and challenges that will need to be addressed. It allows the new executive to develop a deeper understanding of the company so he or she can add immediate value.
Coaching
Organizations are organic, behaving like living organisms. Personalities, internal culture, egos and territory are all carefully protected. It is quite easy for a new executive to say or do something that seems completely neutral, but may, in fact, set off red alerts in other senior managers. This is where coaching can be of enormous value. Coaches should be very familiar with the company, but not an “insider.” They need their independence to be respected by the company in order to provide the new executive with an objective and confidential source of advice. The ability to discuss events, conversations, issues and concerns with an objective, well-informed third party can be crucial to the success of the new executive.
The coach can help the new executive understand how other managers react to new ideas, articulate the internal culture and how it work, and lay out potential “mine fields.” Behaviors and attitudes that were encouraged and successful at a former company may not work at the new company. In one recent example, a client, with a deep and complex culture, hired a talented key executive from another company and accepted the advice to also provide coaching. Over the course of three months, the coach was able to help the new executive adjust her own personal and management style to better fit with the culture of the new company. Consequently the executive learned how to raise issues and be heard, and quickly proved to be especially effective. She is considered to be one of the best hires the company has made.
The Role of Human Resources
The role of human resources is important as they should play a critical part in the development of the in-bounding program. Working closely with the hiring manager, they can develop a plan that accelerates the value a new hire brings to the company. Just as importantly, they create the foundation for success and, therefore, help the company protect its investment. They can also provide the coach with important details and background information about the company and the management. Human resources should facilitate open communication and understanding in order to provide the coach with an appreciation of the nuances of the culture and its various management styles. By providing this consultative service, human resources can step into a virtuous cycle with management and strengthen their role as a valuable partner with the business.
In-bounding and coaching are important parts of a larger human capital effort. Some companies recognize that their people are just as valuable, if not more valuable, than their equipment and facilities. The care and feeding of these important assets is very important. These companies at the boardroom level understand the importance of organizational and human capital development. They approach it strategically from the top down and back again.
More and more potential candidates demand to know that a hiring company will commit to their success and development. They recognize the importance of knowing what processes and services a prospective employer has in place to help them grow and develop as professionals and as managers. They want to know how their success will be measured. In-bounding and coaching are two key elements of the successful integration of a new executive into your company. It’s the best insurance you can buy.
Francis Goldwyn
Managing Director
Quorum Associates LLc
Tuesday, February 17, 2009
Friday, February 13, 2009
An Invitation to Participate in the Human Resource Professionals Research Project
Quorum Associates ( www.quorumassociates.com ) is beginning a research project to learn more about the issues facing Human Resource Professionals. We are looking to recruit Human Resource Professionals to participate in and be a member of our Human Resources Professionals Research Project.
The purpose of the project is to develop a better understanding of the challenges and issues Human Resource Professionals face in today's environment.
This is not an attempt to sell anything or solicit business. It is exclusively for the purpose of understanding the world of Human Resource Professionals. This project will entail a series of short and simple digital surveys. All surveys will be conducted by the independent national research firm Action Research.
We would like to invite you to join this project and share your thoughts, observations and advice. At the conclusion of each survey, a summary document will be sent to all participants.
I wish to repeat that this is not an attempt to sell anything or solicit business. It is exclusively for the purpose of understanding the world of Human Resource Professionals.
To participate in this project, please sign up though the Opt-in form.
Francis Goldwyn
Managing Director
Quorum Associates LLC
The purpose of the project is to develop a better understanding of the challenges and issues Human Resource Professionals face in today's environment.
This is not an attempt to sell anything or solicit business. It is exclusively for the purpose of understanding the world of Human Resource Professionals. This project will entail a series of short and simple digital surveys. All surveys will be conducted by the independent national research firm Action Research.
We would like to invite you to join this project and share your thoughts, observations and advice. At the conclusion of each survey, a summary document will be sent to all participants.
I wish to repeat that this is not an attempt to sell anything or solicit business. It is exclusively for the purpose of understanding the world of Human Resource Professionals.
To participate in this project, please sign up though the Opt-in form.
Francis Goldwyn
Managing Director
Quorum Associates LLC
Hiring the best: It’s more than interviewing good people
Hiring managers want to hire the best, of course, and often use face-to-face interviews as the primary path for hiring decisions. Defining “the best” may be more difficult than it seems. Five individuals with identical credentials and experience may not have equal chances of succeeding in a given position at a given company. Success or failure in a new position goes beyond credentials and experience and into the culture, personality and temperament of the company as well as the perception of the position by both the candidate and the company. What can line managers and human resource professionals do to ensure that on the day of the interview they really are looking at the best candidates for the job?
Line managers, in addition to their day-to-day responsibilities, are charged with building good teams. In any workplace there are internal assumptions and terminology that are believed to be well understood. Consequently, as discussions for a new position take place, these assumptions and terminology are included without critical review. The hiring manager and the human resource partner are deeply imbedded in the organization. They use language that is clear and understood between them. There is no perceived need for further clarity. These internal codes are almost sub-conscious and very difficult to detect. When someone from outside the organization reads or hears about a position, those assumptions or terminology are translated into another context, not necessarily the same as that of the hiring manager.
An executive search consultant, listening carefully to a discussion between the HR professional and the line manager, identifies those internal codes and helps the client understand how a thoughtful candidate will hear and understand a position description. Writing a detailed position document for a client allows them to understand how positions will be perceived by candidates. In addition, reframing the internal language allows clients to hear their own assumptions and terminology. This enables them to make critical revisions to the nature and scope of a position description and to be clear about expectations. When there is a shared and clear understanding of expectations, it is much more likely that the candidate will meet them.
Successful individuals want engaging, strategically important and rewarding work. Understanding why a position is strategically important to an institution frames the larger context of any position. A clear discussion about the tactical issues associated with the larger strategic objectives provides candidates with an understanding of the level of institutional commitment to the role and whether the opportunities and challenges are engaging. Clear concrete measures of success, with specific delivery periods, allow candidates to evaluate how thorough management has been in developing the position. When measures of success are specific, and clearly relate to the strategic and tactical objectives of the institution, potential candidates’ reaction to any position will be much more positive. The thoughtfulness of it demonstrates to the candidate the importance of the position within the organization.
Line managers and their supporting HR professionals should be as candid as possible about challenges and issues within the organization. It is human nature to avoid discussing anything that might be perceived negatively. Organizations have external reputations that are based on interactions with third parties and former employees. Negative perceptions and experiences tend to travel faster than positive views as people “warn” friends and colleagues. Regardless of the challenge or issue, it is important is that these issues are well understood and discussed openly.
In one instance, a global investment management client was seeking to hire a country manager. Many candidates found the position interesting but perceived the designated country of operations as a career dead end. The client, on the other hand, felt its name and reputation should more than compensate for the location of the position. After a frank and open discussion, including a review of both internal and external candidate reactions, it became clear that the role needed redefining to include career advancement outside of the host country.
Potential candidates need to be sure a position is right for them. They will try to determine how the role fits with their professional development and if they have the right experience or skill set to be successful. They may have some knowledge of the hiring company and a sense of whether or not they are a “fit.” This last point is very important. This is where the culture of a company becomes critical. Cultural attributes are difficult to define and even harder to communicate. So now the candidates understand the range and scope of the role. They have an understanding of the issues and challenges that need to be faced. But they still do not know what it will feel like to work in the client organization. They need and want to understand the culture and temperament of the business. The word culture raises a wide range of complex issues. Many companies spend a significant amount of money to define their culture and values. So how can line managers and their HR partners help an outsider understand the environment within the company?
Reviewing experiences of recent hires, whether successful or not, can help to articulate different dimensions of the institution’s culture and temperament. Discussing how decisions are made and how issues are raised within the organization discloses important aspects of the company culture. Asking how bad news is received is a good way to learn about the temperament of a company. There are a few ways to facilitate this understanding. In the first instance, it starts with line managers and their immediate reports. Listening to the line manager describe each member of his team; how and why they are valued, providing a balanced assessment of key skills and abilities, and defining specifically what it is that makes them effective both within and outside the department. This should include a discussion of the line manager’s management style, how the manager gets comfortable with members of the team, and how trust is built or broken.
It is also important to understand what challenges the line manager has with the institution and what are the most effective ways of managing those issues. The HR business partner can provide insight into how other managers negotiate their way through the institution and deal with similar issues. By listening carefully to these conversations and synthesizing them, it is possible to define the culture and temperament of an organization that rings true to the line manager and HR professional, yet is clear to someone unfamiliar with the company.
The issues discussed here are neither easy nor trivial. However, what they yield is a deeper understanding on the part of clients and candidates about the goals, objectives and expectations for a given position. The time and energy invested in the deeper understanding of the company allows potential candidates to decide quickly if the opportunity presented is right for them and to subsequently make a solid, well-informed decision to accept a position.
Quorum markets clients to potential candidates. Each client has a story to tell and marketing that story is a part of attracting high quality candidates. By the time candidates reach the interview, the client will still have a difficult decision. But rather than having to decide if they would hire any individual, they will have to decide which individual to hire, since they’ll want to hire them all.
Francis Goldwyn
Managing Director
Quorum Associates LLC
Line managers, in addition to their day-to-day responsibilities, are charged with building good teams. In any workplace there are internal assumptions and terminology that are believed to be well understood. Consequently, as discussions for a new position take place, these assumptions and terminology are included without critical review. The hiring manager and the human resource partner are deeply imbedded in the organization. They use language that is clear and understood between them. There is no perceived need for further clarity. These internal codes are almost sub-conscious and very difficult to detect. When someone from outside the organization reads or hears about a position, those assumptions or terminology are translated into another context, not necessarily the same as that of the hiring manager.
An executive search consultant, listening carefully to a discussion between the HR professional and the line manager, identifies those internal codes and helps the client understand how a thoughtful candidate will hear and understand a position description. Writing a detailed position document for a client allows them to understand how positions will be perceived by candidates. In addition, reframing the internal language allows clients to hear their own assumptions and terminology. This enables them to make critical revisions to the nature and scope of a position description and to be clear about expectations. When there is a shared and clear understanding of expectations, it is much more likely that the candidate will meet them.
Successful individuals want engaging, strategically important and rewarding work. Understanding why a position is strategically important to an institution frames the larger context of any position. A clear discussion about the tactical issues associated with the larger strategic objectives provides candidates with an understanding of the level of institutional commitment to the role and whether the opportunities and challenges are engaging. Clear concrete measures of success, with specific delivery periods, allow candidates to evaluate how thorough management has been in developing the position. When measures of success are specific, and clearly relate to the strategic and tactical objectives of the institution, potential candidates’ reaction to any position will be much more positive. The thoughtfulness of it demonstrates to the candidate the importance of the position within the organization.
Line managers and their supporting HR professionals should be as candid as possible about challenges and issues within the organization. It is human nature to avoid discussing anything that might be perceived negatively. Organizations have external reputations that are based on interactions with third parties and former employees. Negative perceptions and experiences tend to travel faster than positive views as people “warn” friends and colleagues. Regardless of the challenge or issue, it is important is that these issues are well understood and discussed openly.
In one instance, a global investment management client was seeking to hire a country manager. Many candidates found the position interesting but perceived the designated country of operations as a career dead end. The client, on the other hand, felt its name and reputation should more than compensate for the location of the position. After a frank and open discussion, including a review of both internal and external candidate reactions, it became clear that the role needed redefining to include career advancement outside of the host country.
Potential candidates need to be sure a position is right for them. They will try to determine how the role fits with their professional development and if they have the right experience or skill set to be successful. They may have some knowledge of the hiring company and a sense of whether or not they are a “fit.” This last point is very important. This is where the culture of a company becomes critical. Cultural attributes are difficult to define and even harder to communicate. So now the candidates understand the range and scope of the role. They have an understanding of the issues and challenges that need to be faced. But they still do not know what it will feel like to work in the client organization. They need and want to understand the culture and temperament of the business. The word culture raises a wide range of complex issues. Many companies spend a significant amount of money to define their culture and values. So how can line managers and their HR partners help an outsider understand the environment within the company?
Reviewing experiences of recent hires, whether successful or not, can help to articulate different dimensions of the institution’s culture and temperament. Discussing how decisions are made and how issues are raised within the organization discloses important aspects of the company culture. Asking how bad news is received is a good way to learn about the temperament of a company. There are a few ways to facilitate this understanding. In the first instance, it starts with line managers and their immediate reports. Listening to the line manager describe each member of his team; how and why they are valued, providing a balanced assessment of key skills and abilities, and defining specifically what it is that makes them effective both within and outside the department. This should include a discussion of the line manager’s management style, how the manager gets comfortable with members of the team, and how trust is built or broken.
It is also important to understand what challenges the line manager has with the institution and what are the most effective ways of managing those issues. The HR business partner can provide insight into how other managers negotiate their way through the institution and deal with similar issues. By listening carefully to these conversations and synthesizing them, it is possible to define the culture and temperament of an organization that rings true to the line manager and HR professional, yet is clear to someone unfamiliar with the company.
The issues discussed here are neither easy nor trivial. However, what they yield is a deeper understanding on the part of clients and candidates about the goals, objectives and expectations for a given position. The time and energy invested in the deeper understanding of the company allows potential candidates to decide quickly if the opportunity presented is right for them and to subsequently make a solid, well-informed decision to accept a position.
Quorum markets clients to potential candidates. Each client has a story to tell and marketing that story is a part of attracting high quality candidates. By the time candidates reach the interview, the client will still have a difficult decision. But rather than having to decide if they would hire any individual, they will have to decide which individual to hire, since they’ll want to hire them all.
Francis Goldwyn
Managing Director
Quorum Associates LLC
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