Why does it matter?
The lifespan of boards, executive teams, and senior management is decreasing. Board members and members of Executive Committees have less time to familiarise themselves with the roles they take on. They must demonstrate faster than ever before that they are right for the role.
This depends firstly on the expertise, and talent and secondly on the ability to understand the complex dynamics involved in these roles from the outset. Individuals must be able to build effective relationships, develop strategies, carry out actions and achieve results.
However, a survey carried out by the Institute of Directors in 2013, revealed that nine in ten executive board members feel they are not prepared for their roles. Nearly 70 percent report that they were given no formal support following their appointments. Boards and investors are therefore increasingly requiring systematic onboarding processes that enable new incumbents to fill their new role more quickly and to justify their appointments.