Executives are on the move, perhaps now more than ever. A global study by Booz Allen reported CEOs were turning over at the rate of 15% annually. Aon Consulting reports that in its study that 50% of executives in transition fail, either quitting or getting fired.

The Institute of Executive Development (IED) and Alexcel Group have just completed a year-long study of executives in transition. According to respondents, more than 90% of executives hired from the outside said it took more than 90 days to become productive. Over 60% said it took six months. Reaching productivity is not simply an outsider phenomenon. More than 70% of executives promoted from the inside said it took them more than three months, with a quarter saying it took six months or longer.

“This is important information for leaders to understand,” says Patricia Wheeler, Managing Director of Alexcel Group, “because it raises the important issue of building and sustaining new stakeholder relationships.” The study by IED and Alexcel Group has recommendations to improve the successful outcomes of executives in transition.

Revisit the hiring process. Find ways to measure quantitative as well as qualitative skills. Past accomplishments are de rigueur for hiring but it pays to investigate how those results were gained. How well the individual works with others is essential. Assessments can play a role in such evaluation.

Set reasonable expectations. Do not set artificial deadlines such as “90 days”! Challenging jobs can take a period of time to master. Be clear at the outset that high productivity is not expected right out of the gate.

Support both external and internal hires. Organizations are accustomed to providing outside hires with resources and tools to get up to speed. New hires often require them, too. But don’t wait to be asked; provide them to both newcomers and veterans.

Invest in coaching and mentoring. An executive coach who works in transition management can provide get assistance in helping a new leader get more comfortable in his new role. And other senior leaders, including the recently retired, can help with the transition. They know the in’s and out’s of the job because they have done it. “Our results suggest that the few hours it takes to help senior executives assimilate in their new roles may prevent the loss of thousands of dollars and hundreds of work-hours,” says Wheeler.

Find mistakes early and take decisive action. Be vigilant to what is going on. If problems occur, jump on them sooner than you might in a typical situation. Interventions are essential. As the authors of the study say, “the cost of having an underperforming executive in a critical role for too long is just too high.”

Organizations must be honest with themselves when they hire a senior leader. The individual, as talented and competent as she may be, will need the support of others when taking the new job. As Wheeler notes, “New leaders also must challenge themselves to develop and flex their leadership style so that they effectively reach their new stakeholders.”

(Disclosure, I am a member of Alexcel Group. I did not contribute to the study.)