Retained search – an elite model of executive search committed to helping companies place top corporate leaders – is kind of like corporate matchmaking.
Firms engage with client to meet their needs and build lasting relationships with candidates, and their goal is to curate the perfect match between the hire and the company.
Companies that invest in retained search firms expect to see a pool of top-quality candidates and first-class support to hire a new leader. The client company pays a retainer (a fee paid in advance), which means the retained search firm must go above and beyond to deliver top-quality results.
Unfortunately, 40% of executives fail in their new role within the first 18 months. When this happens, the retained search firm has to find a replacement, at their own cost.
Everyone knows that high employee turnover is costly, but when a retained search firm is involved, there is a domino effect of consequences for all the players involved.
Which brings us to the focus of this article – executive onboarding. Specifically, why it is important to all stakeholders in the executive search process, and how retained search firms can bridge the gap between recruiting, hiring, and onboarding executive placements.
I asked George Bradt – executive onboarding expert and author of The New Leader’s 100-Day Action Plan – to share his thoughts on common challenges for new executive onboarding.
- How retained search firms can help with executive onboarding
- Common executive onboarding challenges
- Impact of remote work on executive onboarding
- Key elements of a successful and robust executive onboarding program
- Advice for successful executive pre-boarding and onboarding experience
- Stages of executive onboarding
- Podcast: Executive onboarding with Gianna Driver