Development

Assimilating New Employees to Manage Your Risk

Wendy R. Weidenbaum and Nancy E. Foxen

The time, effort and costs that go into hiring a new employee can be lost if the assimilation of that individual is not handled effectively. According to a recent study, 40% of senior executives entering a new position fail within the first 18 months because of performance issues — performing below expectations — or sensing that they don’t fit and therefore voluntarily resigning.

New hires not only face a steep learning curve, but they must also clarify performance expectations, identify and form important relationships with clients, colleagues and direct reports, adapt to a new culture and, for more senior positions, articulate a business strategy while managing and motivating a new employee group. At the same time, new hires are also held accountable for producing immediate results.

An effective approach to assimilation provides an organization with a more deliberate means to manage the risks associated with the investment made in its human capital. Careful thought should be given to the knowledge and tools an individual will need in order to succeed. Each organization has it own unique culture, style, operating procedures, economics and measurement standards. It is critical that these get embedded in the assimilation process so that new employees can successfully navigate through the organization. Consider the following:

• Business - Provide detailed information on how the firm makes money and the level of contribution that is expected of each individual. This includes explaining business economics, providing financial data and information on current and prospective client relationships. Be sure the individual understands their role in supporting the achievement of business objectives.
• Culture - Communicate the culture and style of the organization. New hires should understand that the firm is composed of top performers who share a common drive for excellence and integrity. Individuals need to not only understand what the organization’s values and work ethics are but be made aware that they will be measured against these important factors. Additionally, an understanding of what works or doesn’t work from a style perspective is a critical factor.
• Leadership - Articulate leadership’s expectations from an individual, team and financial standpoint. Reinforce these expectations, by word and action, to help minimize career derailment. Remember; don’t let an issue or behavior fester until it’s too late. Act quickly when it looks like something is off so that the individual’s career stays on track.
• Organization - Encourage individuals to build internal relationships with key players in the firm. This should be facilitated by the hiring manager. Help the new person learn who has technical and organizational knowledge as well as influence. Be very clear about reporting lines, decisions makers and how to get things done.

It is advisable to construct an approach to assimilation in time increments, i.e. the time between acceptance and employment, first week, first three months, etc. The hiring manager plays the most critical role in the assimilation process and should assume primary responsibility for the success (or failure) of a new employee.

After acceptance and before employment

• The hiring manager and other senior leaders should maintain contact with the new hire through e-mails, telephone calls and meetings. Make someone feel part of the team even before they begin work.
• Send generic or firm-related published materials on the marketing plan, newsworthy information, etc.
• Prepare and review a draft announcement with new hire that discusses the individual’s prior work experience and new role and responsibilities. Be sure to include reporting relationship. Clarity on this issue is critical.
• Ensure that all of the necessary paperwork, including contracts, non-competes, etc. are discussed and signed.

First week

• On the first day of employment, ensure the new hire has a working telephone, computer, PBA and business cards.
• Distribute an internal announcement that discusses the individual’s prior work experience, new role and responsibilities and the expected value the new employee will add to the firm’s business strategy and success.
• Send out an announcement to clients and key news services that the individual has joined the firm, in what capacity and with what responsibilities.
• The hiring manager should welcome the new employee and spend some time helping the individual get acclimated and answer any administrative or preliminary questions. Also the hiring manager should walk around, making introductions to colleagues and staff.
• Have a welcoming breakfast or lunch for colleagues and direct reports; if this is not possible, arrange for someone to take the new employee to lunch.
• Provide the new employee with important information and materials, e.g. business plan, firm economics, etc.

First three months

• Establish business objectives and agree to performance criteria against which the new employee will be measured.
• Encourage and facilitate the new employee meeting clients and developing business relationships, both internal and external.
• Ensure the new hire gains exposure and establishes credibility by including at the right meetings, spreading the word on successful accomplishments and providing insights and support.
• Take informed risks on new hires; balance the amount of structure and freedom needed to succeed.
• Plan periodic, informal meetings with senior management to check on how the new hire is doing and provide ongoing feedback.

The need to select the right person for the right role at the right time is critical. Helping this person to hit the ground running is just as important. You can influence a person’s success by articulating what’s expected, how to achieve these goals and identifying the people who can provide support and guidance. The objective for the organization is to get the expected return on its investment in both the short and long term.

Wendy Weidenbaum, founder and CEO of Weidenbaum Development & Associates, Inc. and Nancy Foxen, founder of Savvy Solutions, Inc. work collaboratively and bring over 20 years of experience in financial and professional services in the areas of leadership, performance assessment, executive coaching and communications. Wendy can be reached at 908-769-8899 or wweidenbau@aol.com. Nancy can be contacted at 917-446-9032 or nfoxen@savvysolutions.org.

Copyright © 2005. All rights reserved.