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Diaz Del Oro & Hires - Royal Caribbean Building on Talent

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Building on Talent itinerary for getting the right leaders ready …

Building on Talent itinerary for getting the right leaders ready

Sonia Diaz Del Oro
Director, Global Learning & Organizational Development
Royal Caribbean Cruises, Ltd.
Teri Hires, Ph.D.
Regional Vice President,
PDI Ninth House
Royal Caribbean’s Itinerary for Getting the Right Leaders Ready

Published in: Business, Technology

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  • 1. Building on Talent Royal Caribbean’s Itinerary for Getting the Right Leaders Ready Sonia Diaz Del OroDirector, Global Learning & Organizational Development Royal Caribbean Cruises, Ltd. Teri Hires, Ph.D. Regional Vice President, PDI Ninth House 1
  • 2. Agenda Introductions Overview of Royal Caribbean Business Business Case and Challenges Building on Talent Framework Process Results Evolution of Talent Management Questions and Comments 2
  • 3. Questions 3
  • 4. About Royal Caribbean Cruises Ltd. Second largest cruise company in the world 40 Ships – 3 expansion projects $6.7 billion company 64K+ employees worldwide Strong brands Royal Caribbean International, Celebrity Cruises, Pullmantur, Azamara Club Cruises, CDR Croisieres de France, and Tui 4
  • 5. Competitive Strengths Innovative new ships – aggressive growth plans International presence Strong relationships with travel agents Multi-branded strategy Best people Strong ethics and values 5
  • 6. Challenges We Face At RCLBusiness People External business Shipboard/Shoreside conditions Diversity Geopolitical environment Recruitment & retention Regulatory environment Engagement Complexity of our business Movement & scheduling Competitive landscape Training Guest expectations Leadership Development & Succession Management 6
  • 7. Why must leadership development andsuccession management be a strategic business focus for the future of RCL? 7
  • 8. Business Case
  • 9. How We Define Building On Talent Major commitment towards identifying and developing leaders for tomorrow Develops leaders to assume multiple roles organization- wide High potentials selected based on: Current performance Advancement potential Key RCL attributes (Business, Personal, Interpersonal and Leadership Effectiveness) Launched to senior leaders, cascaded to manager level Drives business results 9
  • 10. Building On Talent Facts 28% of director and above population are in the program Average 11 years tenure Retention of 85% of our high potential population since program inception versus 78% of all employees 15% of participants no longer with RCL mainly due to: Reduction in force/position elimination Performance Personal reasons Internally filled Director and Above positions – 87% were BOT participants
  • 11. Building on Talent Framework Identify and Succession Assess Talent Develop Talent Review Talent Planning 11
  • 12. Building on Talent Framework Identify and Succession Assess Talent Develop Talent Review Talent Planning Leaders consider performance and potential of their direct reports Uniform tools, guides and worksheets ensure consistency Talent review meetings facilitated with leadership teams Talent discussed and debated during talent review meetings Formalized communication and program launch with selected high potentials Process occurs annually 12
  • 13. Talent Portfolio A High Achieving High Capacity Performance SOLID B PERFORMER At Risk Under Achieving NR C 3 2 1 Potential VP (two cases SVP) AVP Director **All eligible directors & above were placed in one of these categories when evaluated for performance/potential 13
  • 14. Building on Talent Framework Identify and Succession Assess Talent Develop Talent Review Talent Planning 360 Degree Feedback Psychometric evaluations – cognitive, work style, personality “Year in the life” business simulations Personalized feedback reports generated Debriefs of feedback with boss and development planning action plans created Stack ranking reports generated for executive leadership use and for “birds-eye” view to determine development themes 14
  • 15. Executive Development Center Structured Interview Prework Orientation 3 Business Simulations(to reflect a ‘year in the life’ of an Executive) Cognitive Ability Tests, 360 & Personality Inventories Developmental Development Integration Feedback Written Report Planning Meeting 15
  • 16. Using Data for Decisions 16
  • 17. Using Data for Decisions By Competency 17
  • 18. Building on Talent Framework Identify and Succession Assess Talent Develop Talent Review Talent Planning Tied to business results and core competencies Customized to the individual Executive coaching engagements On-site leadership workshops delivered Wharton, Harvard, UM and other external executive development programs Special projects Job rotations, new assignments Mentoring (current and past participants) 18
  • 19. Building on Talent Activities and Results 19
  • 20. Building on Talent Activities and Results**5 out of 6 top jobs have been promoted from within 20
  • 21. Building on Talent Framework Identify and Assess Talent Develop Talent Succession Review Talent Planning Completion of succession charts Short term emergencies and medium/long term succession considered Succession charts reviewed and updated on regular basis Job rotations and assignments as needed 21
  • 22. Outcomes 35% of current Officers in different functional role today than originally hired 52% of current Officers were promoted from within Groomed and promoted from within: 4 of 5 Named Executive Officers (NEOs) 5 of 7 direct reports to Chairman & CEO 23 out of 50 leaders from top 3 layers of organization Evolving our succession practices from effective to world- class with the adoption of a more formalized approach – Building On Talent
  • 23. Recognition and Reward 23
  • 24. RCL Succession Planning Evolution World-Class Talent Management Dynamic and Transparent Process, Ready-now Talent Pools, Global Job Rotations, Succession Cascades to Professional and Management Roles Integrated Building on Talent 2004 & Broad Business Focus, Talent Reviews, Assessment Centers, Executive Beyond Development, Enterprise Perspective, More Internal Promotions Traditional Succession Planning Prior to 2003 Key Positions Targeted, Specific Job Rotations, Some Internal Promotions, Female Male Business Unit Focus Emergency Planning Primarily External Replacements, Little Formal Development Internally No Formal Succession Process Ad-hoc Identification of Successors for Executive Positions
  • 25. Key Considerations Understand where your business is headed – paint a picture of the future Find early “adopters” Involve leadership – make it their own Partner with HR Know when to get help – external point of view Create linkages – tie into other talent management processes Avoid “big bang” approach – evolve appropriately Be relentless about process – but don’t forget the people 25
  • 26. Questions and Comments 26
  • 27. ContactSonia Diaz Del OroDirector, Global Learning and Organizational DevelopmentRoyal Caribbean Cruises, Ltd.(305) 539-6304sdiaz1@rccl.comTeri Hires, Ph.D.Regional Vice PresidentPDI Ninth House(972) 256-6504teri.hires@pdininthhouse.com 27