There’s always a relatively high degree of risk for an executive onboarding into a new company. If a private equity firm owns that company, the risk is magnified as those executives must converge into the culture of the company they are joining and into the culture of the private equity firm that owns the portfolio company.
Executive onboarding is the key to accelerating success and reducing risk in a new job. People generally fail in new executive roles because of poor fit, poor delivery or poor adjustment to a change down the road. They accelerate success by 1) getting a head start, 2) managing the message, 3) setting direction and building the team and 4) sustaining momentum and delivering results.
Private equity firm leaders suggest executives in their portfolio companies should pay attention to five critical differences versus what they may be used to: context, objectives, strategy, relationships and required impact.