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Lessons from Bank of America's Executive On-Boarding Process, Featuring Brian Fishel, SVP Leadership Development and Learning for Bank of America, & Jay Conger, Ranked #5 on Business Week's Top 10 Management Educators and Author of Over 90 Articles and 12 Books on Leadership
Thursday, 2/14/08 4pm EST
A well designed on-boarding intervention for executives can
and should serve three purposes. The first is to minimize the possibility of derailment on the job. By accelerating
the new executive's understanding of the role demands and by providing support through
constructive feedback, coaching, and follow-up, a well designed program can and
should pre-empt failures. The second role is to accelerate the performance results of the new leader. For example,
research suggests that a senior level manager requires an average of 6.2 months
to reach a 'break-even point' - the moment at which the new leader's
contribution to the organization exceeds the costs of bringing them on board
and their acquiring a critical base of insight into the job. Effective on-boarding interventions should
shorten this cycle of learning by accelerating the development of a network of
critical relationships, clarifying leadership and performance expectations, and
facilitating the formulation of more realistic short and medium term performance
objectives. A third role for on-boarding interventions concerns organizations
that are aggressively pursuing acquisitions or experiencing high growth rates.
In both cases, they must grapple with socializing an influx of outside senior managers. An effective on-boarding
intervention should facilitate
a far smoother integration experience for these incoming executives. It
accomplishes this by helping them to rapidly acquire an understanding of the
business environment, socializing them into the organization's culture and
politics, building a network of critical relationships, and familiarizing them
with the operating dynamics of the executive team. In this presentation, we
will look at the Bank of America's executive onboarding program which
accomplishes these three objectives in a highly sophisticated manner.
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