{"id":9152,"date":"2020-02-26T15:56:10","date_gmt":"2020-02-26T14:56:10","guid":{"rendered":"https:\/\/avs-advisors.com\/?p=9152"},"modified":"2021-09-28T17:55:13","modified_gmt":"2021-09-28T15:55:13","slug":"ceo-succession-maximising-success","status":"publish","type":"post","link":"https:\/\/avs-advisors.com\/es\/ceo-succession-maximising-success\/","title":{"rendered":"CEO succession: maximising success"},"content":{"rendered":"\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-8vgb1o-6917258f33da21f07e60183664e54de0\">\n.flex_column.av-8vgb1o-6917258f33da21f07e60183664e54de0{\n-webkit-border-radius:0px 0px 0px 0px;\n-moz-border-radius:0px 0px 0px 0px;\nborder-radius:0px 0px 0px 0px;\npadding:0px 0px 0px 0px;\n}\n<\/style>\n<div class='flex_column av-8vgb1o-6917258f33da21f07e60183664e54de0 av_one_fifth  avia-builder-el-0  el_before_av_three_fifth  avia-builder-el-first  first flex_column_div av-zero-column-padding '     ><style type=\"text\/css\" 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srcset=\"https:\/\/avs-advisors.com\/wp-content\/uploads\/2019\/11\/AvS_TTA_02-2019_CEO-Nachfolge_150x150.jpg 150w, https:\/\/avs-advisors.com\/wp-content\/uploads\/2019\/11\/AvS_TTA_02-2019_CEO-Nachfolge_150x150-80x80.jpg 80w, https:\/\/avs-advisors.com\/wp-content\/uploads\/2019\/11\/AvS_TTA_02-2019_CEO-Nachfolge_150x150-36x36.jpg 36w, https:\/\/avs-advisors.com\/wp-content\/uploads\/2019\/11\/AvS_TTA_02-2019_CEO-Nachfolge_150x150-120x120.jpg 120w\" sizes=\"(max-width: 150px) 100vw, 150px\" \/><\/div><\/div><\/div><\/div>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-7ldcto-9f1016c7c66bb4ad71a854dcaae0ea63\">\n.flex_column.av-7ldcto-9f1016c7c66bb4ad71a854dcaae0ea63{\n-webkit-border-radius:0px 0px 0px 0px;\n-moz-border-radius:0px 0px 0px 0px;\nborder-radius:0px 0px 0px 0px;\npadding:0px 0px 0px 0px;\n}\n<\/style>\n<div class='flex_column av-7ldcto-9f1016c7c66bb4ad71a854dcaae0ea63 av_three_fifth  avia-builder-el-2  el_after_av_one_fifth  el_before_av_one_fifth  flex_column_div av-zero-column-padding '     ><p>\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-av_heading-d2410fcd237244e6f396ca96ce21b9b5\">\n#top .av-special-heading.av-av_heading-d2410fcd237244e6f396ca96ce21b9b5{\npadding-bottom:10px;\n}\nbody .av-special-heading.av-av_heading-d2410fcd237244e6f396ca96ce21b9b5 .av-special-heading-tag .heading-char{\nfont-size:25px;\n}\n.av-special-heading.av-av_heading-d2410fcd237244e6f396ca96ce21b9b5 .av-subheading{\nfont-size:15px;\n}\n<\/style>\n<div  class='av-special-heading av-av_heading-d2410fcd237244e6f396ca96ce21b9b5 av-special-heading-h1 blockquote modern-quote  avia-builder-el-3  el_before_av_heading  avia-builder-el-first '><h1 class='av-special-heading-tag'  itemprop=\"headline\"  >CEO succession: maximising success<\/h1><div class='av-subheading av-subheading_below'><p>Onboarding is an absolute must to ensure a smooth transition<\/p>\n<\/div><div class=\"special-heading-border\"><div class=\"special-heading-inner-border\"><\/div><\/div><\/div><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-av_heading-0c80e514ad0f617f3f5fe5719fe3f26c\">\n#top .av-special-heading.av-av_heading-0c80e514ad0f617f3f5fe5719fe3f26c{\npadding-bottom:10px;\n}\nbody .av-special-heading.av-av_heading-0c80e514ad0f617f3f5fe5719fe3f26c .av-special-heading-tag .heading-char{\nfont-size:25px;\n}\n.av-special-heading.av-av_heading-0c80e514ad0f617f3f5fe5719fe3f26c .av-subheading{\nfont-size:15px;\n}\n<\/style>\n<div  class='av-special-heading av-av_heading-0c80e514ad0f617f3f5fe5719fe3f26c av-special-heading-h5 blockquote modern-quote  avia-builder-el-4  el_after_av_heading  el_before_av_font_icon '><h5 class='av-special-heading-tag'  itemprop=\"headline\"  >by Carolyn Lutz and Philipp Fleischmann<\/h5><div class=\"special-heading-border\"><div class=\"special-heading-inner-border\"><\/div><\/div><\/div><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-k61yt6pc-4b3d0b31c33d1ba5940ad0ea1382b06a\">\n.av_font_icon.av-k61yt6pc-4b3d0b31c33d1ba5940ad0ea1382b06a .av-icon-char{\nfont-size:40px;\nline-height:40px;\n}\n<\/style>\n<span  class='av_font_icon av-k61yt6pc-4b3d0b31c33d1ba5940ad0ea1382b06a avia_animate_when_visible av-icon-style- avia-icon-pos-left av-no-color avia-icon-animate'><span class='av-icon-char' aria-hidden='true' data-av_icon='\ue819' data-av_iconfont='entypo-fontello' ><\/span><\/span><br \/>\n<section  class='av_textblock_section av-k61ywyoh-aa80164a0bbcfe1a68ac25d8daf20471'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock'  itemprop=\"text\" ><p>Let\u2019s imagine you are a shareholder of a large and successful diversified family business, operating globally with several fully owned companies, joint ventures, and participations and other businesses. The time had come for a CEO succession, there was nobody from within the family that was qualified to take over. You hired an executive search firm, you found your candidate, everyone agreed he is the one, you negotiated, he was hired. The search firm strongly suggested that an onboarding and integration program would be very helpful to help this new CEO navigate the family and firm culture and all the hidden traps he could fall into as he attempts to make his mark and get some early wins. You refused, thinking you and your team would succeed in doing the onboarding and integration on your own. Now, 18 months later, the new CEO is out, and you are back at square one. What went wrong, and how can this be avoided in future?<\/p>\n<p>First, some data from different sources around the world of onboarding and integration:<\/p>\n<ul>\n<li>Organizations with a standard onboarding and integration program experience 54% greater new hire productivity, and 50% greater retention over the first three years.<\/li>\n<li>Manager satisfaction increases by 20% when their employees have formal onboarding training.<\/li>\n<li>32% of global executives say the onboarding they received was very poor.<\/li>\n<li>73% of respondents in a recent study said their onboarding programs accelerate new employees\u2019 performance, and improve employee retention and loyalty.<\/li>\n<li>50% of all senior outside hires fail within 18 months in a new position.<\/li>\n<li>Almost 60% of newly hired C-suite executives said it took them six months \u2013 and close to 20% said it took them more than nine months \u2013 to have full impact in their new roles. Less than one-third received any meaningful support during their transitions, a shame since 80% of this fortunate minority thought such support made a major difference in their early impact.<\/li>\n<\/ul>\n<p>Most firms do well with the administrative formalities of onboarding: making sure the IT needs are organized, business cards are printed, paperwork is filled out, and compliance is organized. However, what is often missing is a clear and benevolent immersion into the unwritten rules of the company, which can lead to the biggest faux pas in terms of derailing an otherwise well-suited candidate. After all, privately held organizations tend to keep their employees a long time; their culture evolves differently and more slowly than a publicly traded firm which will have more heterogenous talent and probably more \u2018fresh blood\u2019 from outside the organization. Family-controlled company culture can be overly influenced by outsize personalities; official reporting lines may belie the actual power and influence of certain individuals. Candidates who are \u2018best in class\u2019 but who have come out of a publicly traded organization, or even a different family-controlled business with a different culture, can quickly fall foul of \u2018the way things are done here\u2019 if they are not guided even before their first day on the job.<\/p>\n<p><strong>Tips for the organization<\/strong><\/p>\n<ul>\n<li>Begin the \u2018onboarding\u2019 already during the interview phase \u2013 be open about the strengths and weaknesses of the company and the culture, stakeholder maps, and how decisions are made.<\/li>\n<li>Dedicating time to discussing team and organizational dynamics during interviewing and onboarding stages can help the new executive avoid invisible cultural barriers.<\/li>\n<li>Assessing how an executive\u2019s strengths and weaknesses align with objectives for the role can help provide a customized roadmap for onboarding. Consider using an impartial executive coach who can give the executive an objective sounding board, and\/or give the hiring manager course correction if necessary.<\/li>\n<li>Ensure operational overviews and clear performance expectations, which derive from strategic priorities, are communicated with the executive. Avoid surprises.<\/li>\n<li>If a problem area is identified, address it quickly \u2013 the earlier an issue is exposed, the easier it can be resolved.<\/li>\n<li>Do not forget to help with family orientation and integration if the move required a relocation \u2013 and career counseling for the executives\u2019 spouse in the case of dual-career couples. An unhappy spouse is the leading cause of failed expat assignments. Remember: \u2018happy wife, happy life\u2019.<\/li>\n<\/ul>\n<p><strong>Tips for the hired candidate<\/strong><\/p>\n<ul>\n<li>Be proactive in communicating and alert for cues on culture. In some cases, it is a fine line to work within the culture while seeking to change it.<\/li>\n<li>Signal that building relationships is a priority for you.<\/li>\n<li>Don\u2019t focus only on your superiors. Building the relationships with your team and knowing how to work the matrix will have a huge influence on your success.<\/li>\n<li>Consider crafting an \u2018elevator speech\u2019 with your reason for joining and what you hope to contribute to the company.<\/li>\n<li>Do use HR \u2013 there is a reason it is called \u2018Human Resources\u2019 \u2013 they can help you not only with team capability and gaps, but also with a \u2018reality check\u2019, giving you feedback from the organization on your performance and style is perceived.<\/li>\n<li>Be mindful of different stakeholders and communicate clearly, openly, and frequently; in particular if you were brought in as a change agent.<\/li>\n<\/ul>\n<p>Know yourself \u2013 your style, preferences, values and motivations \u2013 and how these fit with the organization and team culture.<\/p>\n<\/div><\/section><br \/>\n<div  class='avia-buttonrow-wrap av-k61ze9w6-f76018f3fb98b17a0aff0b6ac95eb808 avia-buttonrow-right  avia-builder-el-7  el_after_av_textblock  avia-builder-el-last '>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-av_buttonrow_item-da2fef32b6925ac6e1df2d61bc60ec1c\">\n#top #wrap_all .avia-button.av-av_buttonrow_item-da2fef32b6925ac6e1df2d61bc60ec1c{\nmargin-bottom:10px;\nmargin-left:10px;\n}\n<\/style>\n<a href='https:\/\/avs-advisors.com\/es\/trustedadvisor'  class='avia-button av-av_buttonrow_item-da2fef32b6925ac6e1df2d61bc60ec1c avia-icon_select-yes-left-icon avia-size-small avia-color-theme-color'  ><span class='avia_button_icon avia_button_icon_left ' aria-hidden='true' data-av_icon='\ue830' data-av_iconfont='entypo-fontello'><\/span><span class='avia_iconbox_title' >back<\/span><\/a>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-av_buttonrow_item-e0bbdcd291e014bc24a3a938a265e79b\">\n#top #wrap_all .avia-button.av-av_buttonrow_item-e0bbdcd291e014bc24a3a938a265e79b{\nmargin-bottom:10px;\nmargin-left:10px;\n}\n<\/style>\n<a href='https:\/\/avs-advisors.com\/wp-content\/uploads\/2020\/03\/TTA_2019_02_CEO-succession_EN.pdf' class='avia-button av-av_buttonrow_item-e0bbdcd291e014bc24a3a938a265e79b avia-icon_select-yes-left-icon avia-size-small avia-color-theme-color' target=\"_blank\" rel=\"noopener noreferrer\"><span class='avia_button_icon avia_button_icon_left ' aria-hidden='true' data-av_icon='\ue82d' data-av_iconfont='entypo-fontello'><\/span><span class='avia_iconbox_title' >Download PDF<\/span><\/a>\n<\/div><\/p><\/div>\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-2a6n1o-6aeba8d515cc66995d2ad0cbef497f1c\">\n.flex_column.av-2a6n1o-6aeba8d515cc66995d2ad0cbef497f1c{\n-webkit-border-radius:0px 0px 0px 0px;\n-moz-border-radius:0px 0px 0px 0px;\nborder-radius:0px 0px 0px 0px;\npadding:0px 0px 0px 0px;\n}\n<\/style>\n<div class='flex_column av-2a6n1o-6aeba8d515cc66995d2ad0cbef497f1c av_one_fifth  avia-builder-el-8  el_after_av_three_fifth  avia-builder-el-last  flex_column_div av-zero-column-padding '     ><\/div><\/p>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":5,"featured_media":8015,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[54],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.6 - 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