Crack the Code of the Diverse Leadership Pipeline

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Many of our nation’s most well-respected companies retain consulting firms to craft their marketing strategies, and invest millions in an attempt to increase market share, and show profitability down the road. At the same time, many of these companies have recognized that they face a lack of diverse leadership, but only a select few are taking a strategic approach to build diverse talent pipelines. In this webcast, MLT, who has helped organizations like Deloitte, Goldman Sachs, Google, Target, PepsiCo and Citigroup recruit and retain more high potential diverse talent, will share approaches that successful companies are taking to fundamentally change the shape of their diverse leadership pipelines and solve their diverse talent challenges. MLT will discuss: Taking a long-term strategic approach to recruiting more diverse talent at various career stages, retaining and developing the diverse talent already within your organization, and engaging and gaining buy-in from colleagues not directly involved in human capital.

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Crack the Code of the Diverse Leadership Pipeline

  1. 1. Crack the Code of the Diverse Leadership Pipeline Need assistance? Call Member Services (866) 538-1909 or email support@hci.org
  2. 2. #HCIwebcast Agenda Housekeeping Feature Presentation Q&A Need assistance? Call Member Services (866) 538-1909 or email support@hci.org
  3. 3. This presentation is made possible by: Thank You! www.mbafocus.com
  4. 4. Interact with us! Click the Q&A button to:1. ask the presenter(s) questions 2. contact HCI Tech Support Need assistance? Call Member Services (866) 538-1909 or email support@hci.org
  5. 5. To listen to this webcast using VoIP: you must first un-mute your computer speakers and turn up the volumeClick the “Voice & Video” tab on themenu bar at the top of your screen and click on “Join Audio” *If you do not have this option please use the Q&A interface for technical support* Need assistance? Call Member Services (866) 538-1909 or email support@hci.org
  6. 6. You can find the slidesfrom this presentation on the community page on www.hci.org under the “Webcast on Demand” section Need assistance? Call Member Services (866) 538-1909 or email support@hci.org
  7. 7. Today’s Moderator Alan Mellish @alanmellish alan.mellish@hci.org Need assistance? Call Member Services (866) 538-1909 or email support@hci.org
  8. 8. Today’s Featured Guest Kevin Donahue Vice President, Partnerships MLT Need assistance? Call Member Services (866) 538-1909 or email support@hci.org
  9. 9. CRACKING THE CODE ON THE MINORITY LEADERSHIP PIPELINE MAY 2012
  10. 10. MLT RESULTS Driving breakthrough results for Fellows and Partners • #1 source of minority MBA candidates for top 10 business schools • 90%+ of undergraduate Fellows obtain full-time job offers from top-tier firms • Leading source of minority talent for top firms, including Goldman Sachs, Google, Deloitte, Procter & Gamble and PepsiCo Generating high profile media coverage • Profiled as the leading minority talent organization on CNN’s “Black in America 2: Tomorrow’s Leaders” series • John Rice (Founder and CEO) named top 30 global social entrepreneur by Forbes • Cover story in Fortune • Profiled on NPR, Wall Street Journal and BusinessWeek UNLOCKING CAREER POTENTIAL 3
  11. 11. MLT’S CAREER POTENTIAL EQUATIONEvery senior leader would identify several critical drivers of their career successthat they did not get in the classroom. MLT’s Key Fulfilled Classroom = + Hard Work + Ingredients Career Education Potential Access to the best Coaching / mentoring opportunities Door-opening relationships Preparatory roadmap High-performing peer Hard and soft skills community UNLOCKING CAREER POTENTIAL 4
  12. 12. MLT’S TALENT DEVELOPMENT SYSTEM SOURCE HI-PO TALENT CAREER ADVANCEMENT AT MULTIPLE STAGES PROGRAM (CAP) FOR• Non-profit partnerships / feeder RISING EXECUTIVES programs (K-12 programs, • Mid-career professionals identified as scholarship providers) highest potential by MLT partners• Alumni / Fellow referrals • 6 months of executive coaching and• Partner referrals (b-schools and development around specific corporate partners) roadblocks to senior leadership• MLT recruiting team’s efforts • 75% promoted within first year MBA PREP FOR EARLY CAREER PROFESSIONALS • Pre-MBAs with raw talent to succeed at top MBA programs • 18 months of coaching and in-person workshops focused on MBA BUILDING A MORE application and career preparation ROBUST LEADERSHIP • Coaching and guidance during b- PIPELINE FOR school to maximize job outcomes PARTNERS CAREER PREP FOR • #1 source of minority students for top • Leverage MBA Focus to efficiently COLLEGE STUDENTS 10 MBA programs facilitate recruiting process• Undergrad juniors and seniors • Customized retention solutions at sourced from 90+ schools various stages of leadership pipeline• 15-month curriculum with one-on-one coaching and in-person workshops • Data throughout driven by corporate partners• 90% receive full-time job offers prior to graduation UNLOCKING CAREER POTENTIAL 5
  13. 13. THE CHALLENGE: DIVERSE LEADERSHIP PIPELINECompanies are trying to solve for more diverse leadership, but minorities arefalling out of the leadership pipeline at a far greater rate than their non-minoritypeers. Black Hispanic Native American30%23%15%8%0% US Population Bachelor’s Degrees Top Entry Level Biz Jobs Top 50 B-Schools Senior LeadershipSource: 2001 study conducted by BCG/MLT; updated in 2006 by Booz Allen Hamilton/MLT UNLOCKING CAREER POTENTIAL 6
  14. 14. POLL #1In your opinion, how effective are your company’s diversity recruiting efforts? 1. Very Effective 2. Effective 3. Somewhat effective 4. Ineffective
  15. 15. POLL #2Which of the following are part of your diversity strategy? 1. Scholarships / fellowships 2. Skill building activities for diverse candidates (case studies, interview prep, immersion experiences) 3. Early identification of talent (i.e. before the start of the traditional campus recruiting season) 4. Diversity career fairs 5. Recruiting at HBCUs
  16. 16. CASE STUDY: INCREASING MARKET SHARECompanies make big investments in advertising, betting that their investment willpay dividends in increased market share. Vendors are evaluated on pre-definedcriteria and held accountable for results. Issue RFP for Evaluate results and advertising agency Formulate ad Execute campaign continue vendor including budget and campaign and measure results relationship or begin vendor criteria process againMany of these same companies hold themselves to a much lower standard of rigor when investing in strategies to build a more diverse senior leadership pipeline. UNLOCKING CAREER POTENTIAL 9
  17. 17. CREATING A STRATEGIC DIVERSE TALENT STRATEGYThe rigor used to create, execute and evaluate a diverse talent strategy shouldbe equal to that used to solve any other business challenge. Determine budget Work with partners Execute and Evaluate results and and criteria for (schools, diversity measure results continue vendor evaluating orgs, training based on indicators of relationship or begin partnerships and resources) to pipeline change process again investments formulate strategyCompanies have been employing many of the same diversity strategies for 10+ years, but have not changed course despite limited impact in their diverse leadership pipeline over that time period. UNLOCKING CAREER POTENTIAL 10
  18. 18. SOLVING FOR SENIOR LEADERSHIPBroadening the pool of senior leaders requires increasing the pool of qualifieddiverse candidates at various career stages. Leadership Pipeline Analyst Associate VP / Director MD x Leadership Pool Recruitment Senior mentors Recruiting ambassadors Diversity champions Bench strength Retention and Development UNLOCKING CAREER POTENTIAL 11
  19. 19. COMMON PRACTICE: RECRUITING STRATEGY Strategy: Vigorously compete for relatively limited pool of qualified diverse candidates at point of recruiting “transaction”. Tactics Outcomes • Career fairs • More intense competition to capture a • Campus info sessions larger percentage of available talent pool • No growth in the overall size of the • Mass emails to candidates available talent pool • Invest in partnerships that help to access large pools of candidates UNLOCKING CAREER POTENTIAL 12
  20. 20. STRATEGIC APPROACH: RECRUITING STRATEGY Stage One: Invest in building the pool of qualified candidates pursuing your company’s opportunities. Tactics Outcomes • Take a data-driven approach to identifying • A larger pool of qualified candidates to candidates early with high potential for recruit from success • Engage candidates before the start of the traditional recruiting season • Educate students about what it takes to be a successful candidate • Help candidates build the skills they need to be successful (case studies, analytical skill building, interview prep, etc) UNLOCKING CAREER POTENTIAL 13
  21. 21. STRATEGIC APPROACH: RECRUITING STRATEGY (2) Stage Two: Cultivate candidates via personal relationships and outreach. Tactics Outcomes • Target candidates that fit your company’s • Candidates understand that you want profile via MBA Focus them to be a part of your organization • Conduct personalized outreach, • The recruiting transaction can become an leveraging details from MBA Focus outgrowth of a relationship profiles (school, work experience, interests, etc) Stage Three: Efficiently close recruiting transaction with expanded candidate pool. UNLOCKING CAREER POTENTIAL 14
  22. 22. COMMON PRACTICE: DIVERSITY GOALS / METRICS Strategy: Recruiting goals targeting an incremental improvement over the prior year (e.g. 3 more diverse hires) and retention goals focused on culture- change and inclusiveness. Tactics Outcomes • No shared goals among recruiting and • Annual recruiting goals don’t drive retention teams activities that lead to a more robust • Recruiting goals solely focused on annual diverse leadership pipeline outcomes • Retention strategies do not contribute to • Retention and advancement goals solely stronger performance within today’s focused on long-term drivers of change environment UNLOCKING CAREER POTENTIAL 15
  23. 23. STRATEGIC APPROACH: DIVERSITY GOALS / METRICS Strategy: Starting point for goal setting is a clear picture of what a robust diverse talent pipeline looks like in 5 years. Tactics Outcomes • Annual goals are based on progress • Annual strategies track to a more robust metrics toward achieving desired pipeline senior leadership pipeline metrics • Success = a sustainable solution to the • Hiring strategies and metrics tied to company’s diverse leadership pipeline retention and advancement strategies • Near-term success stories (i.e. senior and challenges leaders) to celebrate and replicate • Retention strategies include helping high potential individuals navigate / succeed within the current environment • Disciplined focus on initiatives that impact levers that drive desired 5-year goals • All strategy decisions are data and metrics-based UNLOCKING CAREER POTENTIAL 16
  24. 24. COMMON PRACTICE: DIVERSITY TEAM ALIGNMENT Strategy: Recruitment (campus and/or lateral), retention and/or diversity teams focused on individual areas with limited alignment / coordination. Tactics Outcomes • No shared goals • Recruiting and retention strategies not • Separate budget and reporting integrated and not focused on the key relationships drivers of sustainable long-term outcomes • Difficult to implement integrated solutions • Recruiting strategies disconnected from retention strategies and key drivers of that involve multiple departments success in organization • Difficult for partners to propose integrated solutions UNLOCKING CAREER POTENTIAL 17
  25. 25. STRATEGIC APPROACH: DIVERSITY TEAM ALIGNMENT Strategy: Recruitment and retention teams develop joint integrated strategy (with senior executives providing oversight). Tactics Outcomes • Senior line executive(s) convene internal • Recruitment and retention teams departments and facilitate an integrated coordinating to most efficiently drive organization approach pipeline impact • Shared goals address key levers of pipeline impact • Ability to jointly fund initiatives UNLOCKING CAREER POTENTIAL 18
  26. 26. STRATEGIC APPROACH: SAMPLE TOP-LEVEL SCORECARD Minority Representation 2012 2017 (Recruiting and Retention) VP ## / X% ## / X% Director ## / X% ## / X% Manager ## / X% ## / X% Associate ## / X% ## / X% Pipeline Indicators of Health 2012 2017 (Recruiting, Retention, Development, Impact) Attrition Rates: VP / Director / Manager / Associate X% X% Promotion Rates: VP / Director / Manager / Associate X% X% Active Affinity Group Membership ## ## Recruiting: Interview to offer conversion X% X% Offer to hire conversion X% X% Summer internship to full-time conversion X% X% Pipeline: ## Number of diverse candidates from target schools ## ## Number of diverse candidates from technical majors ## ### Average GMAT of diverse candidates ### UNLOCKING CAREER POTENTIAL 19
  27. 27. COMMON PRACTICE: DIVERSITY PARTNERSHIPS Strategy: Invest in portfolio of organizations / initiatives based on executive relationships, profile or ability to do good / positive work. Tactics Outcomes • High-profile investments that show • Partnership investments not cohesive commitment to diversity (but do not • Successful partnerships do not equate to contribute to results) a broader diverse talent pipeline • Investments in organizations that do good work, but do not contribute to a more robust leadership pipeline • Prioritize relationships over results • Reward predictability in partners (as opposed to innovation) • Investments are scaled back backed based on size of investment (rather than results) when budgets are reduced UNLOCKING CAREER POTENTIAL 20
  28. 28. STRATEGIC APPROACH: DIVERSITY PARTNERSHIPS Strategy: Invest in partnerships that impact the key levers that contribute to a more robust diverse talent pipeline. Tactics Outcomes • Investments are made based on a clear • Cohesive partnerships working toward a criteria that demonstrate potential to common goal impact key pipeline levers • Successful partnerships translate directly • Foster collaboration among partners to a more robust talent pipeline within the • Collaborate up front to determine metrics organization that contribute to 5-year strategy • More robust data set to enhance decision • Partners held accountable for delivering making and facilitate trouble shooting / results and data to track progress (e.g. change in tactics candidate progress data via MBA Focus) • Investments are scaled back based on results when budgets are reduced UNLOCKING CAREER POTENTIAL 21
  29. 29. CONTACT USMBA FOCUS MLTTodd Erdy Kevin DonahueVP Global Partnerships VP Partnershipstodd.erdy@mbafocus.com kdonahue@ml4t.org613.339.2080 646.810.6113www.MBAFOCUS.com www.ML4T.org
  30. 30. Questions?Kevin DonahueVice President, Partnerships MLT Need assistance? Call Member Services (866) 538-1909 or email support@hci.org
  31. 31. Stay Tunedanother presentation starts at the top of the hour www.hci.org Human Capital Institute (HCI) @human_capital
  32. 32. Thank You!Please join us for another Webcast in this series on August 8, 2012 www.hci.org Human Capital Institute (HCI) @human_capital

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