The secret to successful external hiring: building an on-ramp

Bringing in an external hire for a leadership position — or any position — can be tricky. Even family businesses, though, must at some point look outside of their own walls for good people. The trick is finding the right person and successfully onboarding them. Finding the right candidate, though, is only the beginning. Successful external hires are the result of months and even years of integration into the company and its culture — and it’s not always easy. In fact, the failure rate for external hires in the first two years ranges from 40-60%. 

The hiring process is time-consuming and expensive. Hiring the wrong person, and eventually firing them, can damage a company’s bottom line. So why do so many businesses make mistakes in hiring? Judgement plays a part, but the biggest driver of failed external hires is a lack of a plan to integrate that hire into the company and its culture. New hires need direction: They need to learn what is expected of them and how to thrive in the company’s unique culture. They need the support of management. They need an on-ramp. You can hire the best talent in the world, but if you don’t show them the road map to success, they will end up failing. Building the right on-ramp for new hires requires planning, and above all, it requires buy-in and engagement from leadership.