Onboarding (Executive Orientation)
Onhoarding is the process companies use to help new executives quickly learn an organization's structure, culture, and politics so that they can start making contributions to the organization as soon as possible. According to T&D Magazine, “Onboarding is a systematic process to establish a positive trajectory early in a new managers career.“ The purpose of onboarding is to reduce the time for an executive to get “up to speed."69 However, in one survey, only 30 percent of hiring executives were satisfied with their process.“ For instance, when Bristol-Myers Squibb, the global pharmaceutical manufacturer, studied the retention rates of its recently hired executives it discovered that the company was losing promising new executives because it was not taking steps to ensure their success. It made new executives the object of keen focus during the first 100 days of their employment, providing guidelines, clarifying roles, setting up meetings with influential colleagues, and fostering each newcomers understanding of the company‘s cultural norms." Follow-up meetings need to be held during the