QUESTION: Business Case for Onboarding Coaching?

Dear Merry,

I am a Director of HR in a large technology company. I am about to recommend that the company develop an onboarding coaching program to help integrate new hires at the executive level. I anticipate that getting the funding could be a challenge. What advice do you have for making the case for funding?


RESPONSE: Solve a Business Issue

Dear Executive,

I just returned from the Conference Board on Executive Coaching where onboarding was a hot topic. Many companies are beginning to realize that they do a poor job of retaining and integrating new hires at the executive level. More importantly, they are discovering that the cost of losing new hires is quite high and that onboarding coaching can help bring their executives up to speed faster, improve retention and engagement, and more quickly acclimatize new hires to the culture.

Here are my suggestions for making a business case for onboarding coaching:
1. Solve a Business Issue: Align with the executive team to solve a business issue they are interested in. For example, if engagement is a hot topic at the senior executive level then position your onboarding coaching program as a solution to this hot issue.
2. Look at the History of Your New Hires: Many companies are surprised when they look at the actual statistics for new hire retention. Gather your stats for the company as a whole and by department, geography or business unit.
3. Cite Any Available Statistics: There are some very compelling published facts about new hire success rates. For example:
a. According to Dan Ciampa and Michael Watkins, in Right from the Start (Harvard Business School Press, 1999), 64% of new executives hired from outside the company will fail at their new jobs.
b. Losing talent costs the company 1.5 times the executive's total compensation (HCI).
c. Every manager has a ripple effect to at least 12.4 other employees (Watkins).
4. Cite Anecdotal Evidence: Gather anecdotal evidence from people within the company about the business impact of getting new hires up to speed quickly and retaining then as an engaged employee.
5. Speak Business Language: All of the points above will help you craft a business case for coaching that uses business language to make a compelling argument. Be sure to solve a business issue, site business statistics and discuss potential business impact.
6. "Socialize Your Ideas: "Socialize your onboarding coaching plan in advance of making a formal request for funding. Speak to as many people as possible to rally support and understand any objections.
7. Run a Pilot Program: Consider running a smaller scale pilot program to generate enthusiasm and capture the potential impact of onboarding coaching. Then seek funding for a larger program.
8. Measure & Promote with Business Results: Be sure that the impact of your onboarding coaching program is measurable and that you appropriately promote the business results of your program.

Onboarding coaching is a powerful way to protect your company's hiring investment. In addition, it can be a wonderful opportunity for you to enhance your strategic presence in the organization by aligning with the business units and using the results of a successful onboarding coaching program to drive your business reputation.

Dare to Deliver!
Merry

Merry Marcus
President
www.breakthroughconsulting.com