Recently, I was in the room with a client discussing their need for a new CFO. They had what they believed to be the perfect candidate but with one issue. He had severance from his last role and wanted to begin this new position as a fractional employee to ensure it was a good fit. The leadership team had some push back to this idea because they felt all in and wanted him to have the same level of commitment. We solved the issue by creating a well defined roadmap for the CFO’s first 100 days.
Almost all companies struggle when bringing on a new C-suite member. But the one thing everyone can agree on is they want the transition to be as smooth as possible with a successful and stable outcome. The hardest part of onboarding is getting on the same page but you can attain this by creating and agreeing on these key themes at the beginning of onboarding:
Clarity of Roles & Expectations
Documenting the roles and responsibilities of the position may seem obvious but are commonly left assumed leaving both parties in frustration. The 5-5-5™ is a tool for well defined clarity so new hire can accept responsibility fully. Spell out the roles. Are they onboard with functions of the job? In addition to the responsibility of that specific position, list your company’s core values. Does this person share those beliefs? Simplify the expectations by assigning agreed upon key objectives (Rocks) with the intention that those will be accomplished in the first 100 days.
What does success look like? Establish key performance indicators that can be measured to help define success. Simple and concise measurables will help align expectations and reinforce accountability.
Establish a Consistent Meeting Pulse™
Regular check ins to make sure you are on the same page should happen on a consistent basis. The first meeting should consist of discussing the 5-5-5™ which includes the company’s core values, rocks for the first 100 days, and key roles for the position. Regularly review the the agreed upon measurables on a weekly basis. There should be a routine meeting pulse (e.g. weekly, biweekly, monthly) to track progress and address issues. Finally at the end of the first 100 days, review the results and you will be amazed at the progress and clarity that was achieved.
This is what the core process for the first 100 days looks like:
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