Tuesday, 27 February 2018

Transition Coaching—Internals Only Need Apply?

If an organisation uses external coaching, most often it is transition coaching—helping an executive step into a new role.   Why then are external hires typically left to their own devices when entering an organisation?   

Recently Talent Futures hosted an evening roundtable discussion on the topic, drawing on the expertise of our senior executive coaches and representatives from three organisations with deep coaching practices. 

It’s tough to succeed as an external hire.

In 2010, Harvard Business Review pegged the externally-hired executive failure rate at 30-40% after 18 months.  In the 2013 update to Michael Watkins’ seminal book The First 90 Days: Proven Strategies for Getting Up to Speed Faster and Smarter, up to 50% of external hires “fail to achieve desired results.”  Factor in the recruitment costs, lost opportunity of a poor hire, ill will that is generated in the organisation as a result of a poor hire, and the cost is easily a multiple of the executive’s annual salary figure.   So why do so many organisations fail to support executives with their own transition coach upon entry?

Wednesday, 3 January 2018

Proven ROI on Team Building & Coaching: Talent Futures Case Study

In late 2013, a German CEO turnaround expert was appointed to an acquired manufacturing subsidiary of a global engineering company.  Over three years he transformed it from worst Health and Safety site to the leading site in Health and Safety and Sales by developing a forward-thinking and engaged workforce.

A team of four coaches and consultants from Talent Futures:

  • Coached the CEO as he transitioned from turnaround expert to steady-state leader. 
  • Provided four team building workshops to the senior team over a 15-month period. 
  • Provided transition coaching for new Directors. 
One measure of the value of the outcomes came the week after the third workshop.  The CEO and directors decided to use their newly acquired ways of working together to address an ongoing manufacturing problem.  Previously, each time a particular part was manufactured, it failed to meet specifications and the run would have to be scrapped.  Despite numerous adjustments they had made to try to solve the problem over the past several runs, the same defect was occurring. This cost them 250,000 every time the part was made.  Prior to the leadership workshop, they thought they would have to outsource the manufacture of this part.  Using the new challenge and discussion methods, however, the team solved the problem within a week and has consistently and successfully manufactured the part since.

Executive Coaching of the CEO, 2014-15

The CEO had previously transformed other subsidiaries for the British company.  This challenge was different, however, in that he was also expected to make one of the hardest leadership adjustments—from transformation