June 27, 2017 – Search firms continue to break out new solutions platforms, be it through acquisition, alliance or start up. The latest example: HVS Executive Search has launched an executive onboarding service, a holistic approach of ensuring that new executives have the tools and information needed to quickly become an integrated, effective and contributing member of their new team. The new initiative is led by Dr. Michael Grimes and Tim Savage.
In an environment in which statistics show significant new-hire turnover within the first 18 months of joining a new firm, HVS Executive Search’s onboarding service is designed to help executives effectively assimilate to the professional, social and cultural challenges of a new role and organization.
“Given the time and expense associated with the hiring of executives, we felt it important to offer our clients a professional onboarding service that would accelerate a new executive’s productivity and cultural alignment,” said Court Williams, head of HVS’s Executive Search division. “This service provides a comprehensive, phased progression of consultations that cover the key integration steps and coach the use of pragmatic tools to provide the new hire with a plan to address each key milestone during his/her first year and lead them to succeed.”
After spending several months and significant resources searching for and interviewing a new senior executive, onboarding is an essential investment to help position and support new executives to succeed, said Mr. Williams. “Dr. Michael Grimes and Tim Savage are experienced executive coaches that will be leading this HVS initiative globally,” he said.
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Dr. Grimes is a 30 year veteran in applied behavioral sciences. His ongoing participation in global leadership initiatives enables him to consistently bring high levels of professional competence and business insight to his clients which include: AIG, AT&T, Citi, Paine Webber/UBS, MetLife, Merrill Lynch, Verizon and American Express. For over 30 years he has run his own company, Grimes Consulting Group.
An industry human resources specialist, Mr. Salvage brings over three decades of experience as a HR and culture change specialist, as well as a strong industry network. He specializes in providing advice on organizational structure, change management and employee engagement, and bespoke coaching and development solutions to clients. He has delivered numerous consulting mandates across a broad range of disciplines, serving hospitality companies that include Forte, Marriott and Le Meridien, both in the U.K. and internationally. Through his own business, TSolutions, he has also worked on an independent basis, consulting for clients across a broad spectrum of sectors.
HVS Executive Search provides human capital advisory services to leaders in the hotel, restaurant, food service and travel / leisure industries. Practice areas include senior level executive search, mid-management recruitment and performance improvement. The firm has offices in New York, London, New Delhi and Hong Kong.
Effective onboarding can be the difference between success or failure for a new executive. But many organizations lack a structured onboarding process. A recent CareerBuilder study found that over a third of employers (36 percent) lack a structured onboarding process, and a significant number are reporting costly consequences. Forty-one percent of these employers said the lack of a structured onboarding process had a negative impact on their company, including lower productivity (16 percent), greater inefficiencies (14 percent), higher employee turnover (12 percent), lower employee morale (11 percent), lower level of employee engagement (10 percent), lower confidence among employees (10 percent), lack of trust within the organization (seven percent) and missed revenue targets (six percent).
“While onboarding is a critical component of setting new employees up for success from Day One, this study shows some companies are neglecting fundamentals in the onboarding process – and running into serious consequences that can impact the bottom line,” said Rosemary Haefner, chief human resources officer at CareerBuilder. “Employers need to establish a comprehensive checklist for every new employee and incorporate more automation to provide a better, more efficient experiences for employees, their managers and HR.”
An Egon Zehnder study of global HR executives and newly appointed leaders shows less than a third of organizations actively support their executives to adapt to the cultural and political climate – which rank as the top reasons new leaders fail.
“Too many businesses believe they are successfully bringing newly hired executives into the fold, when in reality they are simply covering administrative basics,” said Egon Zehnder partner Mark Byford. “That level of onboarding is outdated and largely ignores the most challenging obstacles for new leaders – unfamiliar cultural norms and expectations.”
The consequences of improper onboarding include financial repercussions and talent retention issues. “Organizations must focus on getting integration right upfront to ensure new leaders succeed in today’s high-stakes environment,” said Mr. Byford.
Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Managing Editor; Stephen Sawicki, Managing Editor; and Chase Barbe, Managing Editor – Hunt Scanlon Media