Firms go to enormous lengths to hire leaders from the market – what exactly is the success rate of such hires? What proportion of ‘wow’ with their performance – exceeds expectations when the firm rolls out the first formal performance evaluation for the new leader?
Our research shows that success in hiring leaders from the external market has been a mixed bag for corporates, with only 35-40% being ‘wow’. This seems low. Yet new leaders from outside the organization infuse fresh perspectives and are crucial – so, what can organizations do to get the external hiring right? In this paper, we present our findings and best practices that can help to improve hiring outcomes.
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