Today’s best managers know that the failure rate of new executives is roughly 64%. Newly hired executives fail due to: expectations about the job don’t match reality, changes in the direction of the company caused by leaders who leave, dependence on old skills that were successful at their former job, failure to find out what is required in the new job, not finding out what the new company culture is all about, and not establishing relationships early on with key people in the new organization. To combat the failure rate, today’s best managers know that coaching new hires about the new company is vital.
Source: Butterfield, S. 2008. Onboard coaching: New leaders can contribute faster. Leadership Excellence, 25/3, p. 14.
