How successful are your new hires?
Ten questions to find the Gap
Can you (or your delegate) answer most questions/statements with a strong 'yes'?
Do you have a comprehensive onboarding plan for new leadership members, outlining key places and individuals to visit and meet during the initial period?
Do you have a clear understanding of the organization's performance under the previous job holder?
Are you familiar with the best-in-class standards for procurement within your industry?
If not, have you researched and identified best-in-class standards for procurement across industries?
Is procurement and supply chain considered a valued and integral part of the organization, with the CPO reporting directly to the CEO, CFO or COO?
Do you prioritize functional expertise when selecting CPO candidates?
Do you recognize that candidates with functional expertise can come from different industries?
Do you evaluate the cultural fit of CPO candidates through interviews with multiple senior leadership members?
Is the design of the procurement function aligned with the overall organizational structure?
Is there a mentorship program in place for new executive hires, providing support and guidance during the first year?