
Dan Heiman:
We launched a new initiative together two years ago, where you’ve been coaching Cornerstone-placed leaders transitioning into new companies. What kind of impact has the Executive Onboarding Coaching had on leaders during their first 90 days?
Jeremy Foster:
This program is so important because executive transitions are such high-stakes events – they are expensive, risky, and have a significant influence on business outcomes. A seminal study by McKinsey & Company found that executive transitions cost more than two times annual salary, yet nearly half of leadership transitions are considered disappointments or failures just two years after the placement. Can you imagine? For all the money and time companies put into these transitions, such a failure rate is devastating and has a huge impact on the bottom line.
Transitions are also incredibly challenging personally and professionally for the transitioning leaders. These leaders are stepping into a new company and a new role, with a new manager, new peers, and new subordinates. Based on the same study, 74 percent of US leaders think they are unprepared for their new roles. Executive coaching has been found to double the likelihood of a transition being successful, but only about 32 percent of transitions ever include executive coaching. It’s a huge, missed opportunity!
Together, we are changing that narrative. Our Executive Onboarding Coaching supports the new leader during the first three months and is designed to increase retention, clarify and align success around shared goals—both for the company and the new leader—and help the new leader get up to speed faster and more confidently than they could on their own. As a coach, I walk alongside the newly hired leader and also stay in communication with the hiring manager. This creates a context for conversations that can help clarify expectations from both parties early in the process, so we can identify and address roadblocks before it’s too late. I see both the hiring manager and new employee upping their game because of the coaching.
For example, a recent participant in this program was a new Ivy League-educated HR leader who was an exceptional performer in her previous role. She came from a large, world-renowned organization on the East Coast and was stepping into a completely different kind of culture—a much smaller organization in the Midwest. That’s a massive shift!
For her, the key to a successful transition wasn’t about doubling down on what had worked in the past. Instead, she had to recalibrate. The fast-paced, high-profile environment she had known was all about speed, direct communication and individual brilliance. But in this new role, success required a very different approach: slowing down to speed up. She needed to become more relational, take the time to truly understand the culture, and learn to lean on her team by enhancing her planning and delegation skills.
Through our coaching, she quickly embraced the idea that her real power in this new environment would come from empowering others rather than doing it all herself. After making this shift in mindset, she was able to integrate much faster into the organization than anyone expected. Her transition was smoother and she was able to accelerate her impact, helping the organization move forward in ways that aligned with its unique culture.
No matter the transition, I highly recommend executive coaching – it gives new leaders a confidential space to process the challenges of the transition and speeds up the time it takes for them to integrate into the new organization. The hiring managers and transitioning leaders have been raving about the program and I’m excited to share this with more organizations in 2025. It’s a real differentiator for Cornerstone and its clients.
Placing a great leader in a great company is one thing, but helping that leader get a great start takes the value of the engagement to a whole new level.
Link to McKinsey study on leadership transitions: https://www.mckinsey.com/capabilities/people-and-organizational-performance/our-insights/successfully-transitioning-to-new-leadership-roles#/