thedrifter
03-10-07, 06:29 AM
Training Top Execs To Hit The Ground Running
Gary M. Stern
Fri Mar 9, 7:00 PM ET
In boot camp, Marines jump over obstacles, do push-ups and paddle rivers to prepare for combat.
To toughen up for rough and tumble corporate life, recently hired CEOs and senior executives are going through their own boot camp.
Organized to help senior executives make a quick impact on the job is CEO Boot Camp, a two-day workshop run by consultants Korn/Ferry International (NYSE:KFY - News) and Prime Genesis. Another is RHR International's Executive Integration program, which does ongoing coaching. These programs, also known as onboarding, train executives to avoid in-house minefields and help them devise a strategy to succeed, before or upon starting the job.
Why is it called CEO Boot Camp? "We try to give CEO's the same intellectual toughness that Marines go through in their camp, gaining physical toughness," said George Bradt, a managing director at Prime Genesis, in Stamford, Conn.
CEOs are asked to volunteer their own crises and issues at work and get feedback from other CEOs, just as Marines must pass through physical gau-ntlets.
The pressure on recently hired CEOs and senior-level executives to succeed has never been more intense. In 2006, the chief operating officer at J.C. Penney (NYSE:JCP - News), two marketing managers at Wal-Mart (NYSE:WMT - News) and one at Home Depot (NYSE:HD - News), and CFOs at Sears Holdings (NasdaqGS:SHLD - News) and Adobe Systems (NasdaqGS:ADBE - News) were dismissed in under a year of being hired. There's no longer a honeymoon; CEOs and senior executives must produce immediately and make a difference on the bottom line or say farewell.
Why has the pressure intensified? "People are expected to come in and get immediate results but that's unrealistic. They can hit singles, but not home runs. There are very few situations where someone can come in, figure out the culture, gain immediate credibility, and get results," explained David Astronio, a Philadelphia-based managing director at RHR.
Companies are quick to dismiss foundering executives since they have disastrous effects on company results. "It can be paralyzing for a company" if it's a bad fit, Astronio noted. Rather than see their business plan go awry and losses multiply, companies are quick to let executives go.
Many CEOs and senior executives fail because "after day one they lose control of what they said they want to do and get dragged down by details," Bradt said. CEO Boot Camp sets the stage for an early win, which will boost the team's confidence, show immediate results and help gain momentum.
CEO Boot Camp focuses on three areas: helping CEOs manage boards, ensuring that the right people are in place and developing a communication plan, Bradt notes.
Executive Integration, on the other hand, focuses on "role clarity, key stakeholder relationships, understanding the culture, and establishing early wins," Astronio said. Many executives enter a company, try to make a major splash with an innovative project and fail because they haven't gained the credibility from peers and subordinates, he adds.
John Sheppard, ex-CEO of beverage company Cott Corp. (NYSE:COT - News) from 2001 until May 2006, participated in CEO Boot Camp, several months after leaving his CEO post. Sheppard was about to open C-Level Partners, a consulting firm in Tampa, Fla., and was interested in learning more about "how to handle the political landscape." Cott says that during his tenure as Cott's CEO, its revenue rose. But he faced some difficulty handling its board of directors.
At the workshop, Sheppard learned two key skills. The first was developing a 100-day plan when starting. The second involved acting more aggressively in dealing with the company's board of directors. If he were named CEO in the future, he'd meet with other executives, subordinates and customers to uncover the minefields so he could start and "hit the ground running," he said.
When David Kaufman, chief information officer at Aramark, a food services company based in Philadelphia, came on the job in April 2005, he participated in a three-month RHR onboarding program to learn about Aramark's culture. Kaufman, who moved from drug company Schering-Plough (NYSE:SGP - News), was "immersed" in learning the Aramark culture, he said. He visited Aramark sites such as the University of Pennsylvania's dining facilities and met with chefs and computer staff. Kaufman learned that Aramark's culture stressed collaboration, which helped him manage more openly.
After three months of learning Aramark's culture, Kaufman met with his manager to discuss his goals and objectives. "There's nothing like seeing computer problems firsthand to understand it. You can't solve problems in a conference room," Kaufman said.
The plunge into corporate culture helped Kaufman build rapport with peers, get in sync with Aramark's culture and interact with customers. "I learned what's working and what's not working," he said, which helped him succeed on the job.
An RHR study says 82% of firings were due to a CEOs failure to build partnerships with peers and subordinates. Fifty-eight percent were dismissed because CEOs were unclear or confused about role expectations. Another 58% were given the heave-ho due to a lack of political savvy.
Defining the job and its expectations are critical to success. "Many CEOs hire someone for a role that is big and broad but haven't thought through clearly what is important," Astronio said.
Adjusting to a firm's culture is also necessary for success. Julie Roehm, a top marketing executive for Wal-Mart who was eventually dismissed, got considerable press coverage about her cheeky ad campaigns and aggressive style, which didn't fit into Wal-Mart's more conservative culture.
The minefields that can destroy CEOs at the start of their tenures are manifold, Bradt notes.
The "mines" include joining an organization that has hidden problems (one CEO joined a company and didn't know that it was about to announce its bankruptcy), not being the right fit for the new role and rubbing boards the wrong way.
Brad suggests that if a CEO joins a company in an industry he's unfamiliar with, the officer tap an expert in the company to act as a resource. To help spot minefields, choose a chief of staff or chief operating officer who is knowledgeable about the industry to help with the transition.
Quick success for a CEO boils down to preparation and teamwork, Bradt says. Too many executives "don't prepare for all the eventualities, don't have an onboarding plan, and don't know how to build the team in the first 100 days," he said.
Getting the right people in the right jobs and removing those unsuited to their roles are crucial.
Companies also must play a major role in easing the transition. "It shouldn't be the survival of the fittest mentality," Astronio said. "Communicating what's expected, determining who are the most important people to work with, and learning the culture and how the culture works" can go a long way in ensuring success, he said.
Ellie
Gary M. Stern
Fri Mar 9, 7:00 PM ET
In boot camp, Marines jump over obstacles, do push-ups and paddle rivers to prepare for combat.
To toughen up for rough and tumble corporate life, recently hired CEOs and senior executives are going through their own boot camp.
Organized to help senior executives make a quick impact on the job is CEO Boot Camp, a two-day workshop run by consultants Korn/Ferry International (NYSE:KFY - News) and Prime Genesis. Another is RHR International's Executive Integration program, which does ongoing coaching. These programs, also known as onboarding, train executives to avoid in-house minefields and help them devise a strategy to succeed, before or upon starting the job.
Why is it called CEO Boot Camp? "We try to give CEO's the same intellectual toughness that Marines go through in their camp, gaining physical toughness," said George Bradt, a managing director at Prime Genesis, in Stamford, Conn.
CEOs are asked to volunteer their own crises and issues at work and get feedback from other CEOs, just as Marines must pass through physical gau-ntlets.
The pressure on recently hired CEOs and senior-level executives to succeed has never been more intense. In 2006, the chief operating officer at J.C. Penney (NYSE:JCP - News), two marketing managers at Wal-Mart (NYSE:WMT - News) and one at Home Depot (NYSE:HD - News), and CFOs at Sears Holdings (NasdaqGS:SHLD - News) and Adobe Systems (NasdaqGS:ADBE - News) were dismissed in under a year of being hired. There's no longer a honeymoon; CEOs and senior executives must produce immediately and make a difference on the bottom line or say farewell.
Why has the pressure intensified? "People are expected to come in and get immediate results but that's unrealistic. They can hit singles, but not home runs. There are very few situations where someone can come in, figure out the culture, gain immediate credibility, and get results," explained David Astronio, a Philadelphia-based managing director at RHR.
Companies are quick to dismiss foundering executives since they have disastrous effects on company results. "It can be paralyzing for a company" if it's a bad fit, Astronio noted. Rather than see their business plan go awry and losses multiply, companies are quick to let executives go.
Many CEOs and senior executives fail because "after day one they lose control of what they said they want to do and get dragged down by details," Bradt said. CEO Boot Camp sets the stage for an early win, which will boost the team's confidence, show immediate results and help gain momentum.
CEO Boot Camp focuses on three areas: helping CEOs manage boards, ensuring that the right people are in place and developing a communication plan, Bradt notes.
Executive Integration, on the other hand, focuses on "role clarity, key stakeholder relationships, understanding the culture, and establishing early wins," Astronio said. Many executives enter a company, try to make a major splash with an innovative project and fail because they haven't gained the credibility from peers and subordinates, he adds.
John Sheppard, ex-CEO of beverage company Cott Corp. (NYSE:COT - News) from 2001 until May 2006, participated in CEO Boot Camp, several months after leaving his CEO post. Sheppard was about to open C-Level Partners, a consulting firm in Tampa, Fla., and was interested in learning more about "how to handle the political landscape." Cott says that during his tenure as Cott's CEO, its revenue rose. But he faced some difficulty handling its board of directors.
At the workshop, Sheppard learned two key skills. The first was developing a 100-day plan when starting. The second involved acting more aggressively in dealing with the company's board of directors. If he were named CEO in the future, he'd meet with other executives, subordinates and customers to uncover the minefields so he could start and "hit the ground running," he said.
When David Kaufman, chief information officer at Aramark, a food services company based in Philadelphia, came on the job in April 2005, he participated in a three-month RHR onboarding program to learn about Aramark's culture. Kaufman, who moved from drug company Schering-Plough (NYSE:SGP - News), was "immersed" in learning the Aramark culture, he said. He visited Aramark sites such as the University of Pennsylvania's dining facilities and met with chefs and computer staff. Kaufman learned that Aramark's culture stressed collaboration, which helped him manage more openly.
After three months of learning Aramark's culture, Kaufman met with his manager to discuss his goals and objectives. "There's nothing like seeing computer problems firsthand to understand it. You can't solve problems in a conference room," Kaufman said.
The plunge into corporate culture helped Kaufman build rapport with peers, get in sync with Aramark's culture and interact with customers. "I learned what's working and what's not working," he said, which helped him succeed on the job.
An RHR study says 82% of firings were due to a CEOs failure to build partnerships with peers and subordinates. Fifty-eight percent were dismissed because CEOs were unclear or confused about role expectations. Another 58% were given the heave-ho due to a lack of political savvy.
Defining the job and its expectations are critical to success. "Many CEOs hire someone for a role that is big and broad but haven't thought through clearly what is important," Astronio said.
Adjusting to a firm's culture is also necessary for success. Julie Roehm, a top marketing executive for Wal-Mart who was eventually dismissed, got considerable press coverage about her cheeky ad campaigns and aggressive style, which didn't fit into Wal-Mart's more conservative culture.
The minefields that can destroy CEOs at the start of their tenures are manifold, Bradt notes.
The "mines" include joining an organization that has hidden problems (one CEO joined a company and didn't know that it was about to announce its bankruptcy), not being the right fit for the new role and rubbing boards the wrong way.
Brad suggests that if a CEO joins a company in an industry he's unfamiliar with, the officer tap an expert in the company to act as a resource. To help spot minefields, choose a chief of staff or chief operating officer who is knowledgeable about the industry to help with the transition.
Quick success for a CEO boils down to preparation and teamwork, Bradt says. Too many executives "don't prepare for all the eventualities, don't have an onboarding plan, and don't know how to build the team in the first 100 days," he said.
Getting the right people in the right jobs and removing those unsuited to their roles are crucial.
Companies also must play a major role in easing the transition. "It shouldn't be the survival of the fittest mentality," Astronio said. "Communicating what's expected, determining who are the most important people to work with, and learning the culture and how the culture works" can go a long way in ensuring success, he said.
Ellie