- "40% of new leaders fail in their first 18 months", says George Bradt, author of The New Leader's 100-Day Action Plan and contributor to Forbes. He adds that it's up to boards of directors to successfully onboard new CEOs by first aligning the expectations of everyone.
- Bradt shares that the acquisition of a new leader isn't just about sealing the deal. It's about handling things in such a way that the potential CEO will have a lasting impact on how he or she feels about the organization. This also includes accommodating the CEO's needs from day one and making the announcement of the change at the right time.
- Any acceleration for change must be gaged by how quickly the new CEO assimilates into the company. Outside help can be brought in to help make this happen.
The PwC 2015 CEO Success Study indicated that in a, "four-year period (2012–15), boards chose outsiders in 22% of planned turnovers, up from 14% in 2004–07." This indicates that more companies are seeking new CEOs from outside of their organizations than ever before, meaning having a system for onboarding and bringing a new leader up to speed fast matters to the success of the company.
This is a vastly different approach than the one used for other employees, even at the executive level. Using Brandt's advice, boards can make a smooth transition from previous leadership to new leadership goals, and integrate the new CEO into the culture effectively.