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Career development and the leadership pipeline

Career development and the leadership pipeline

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Global hr forum2008-mary fontaine-career development and the leadership pipeline Global hr forum2008-mary fontaine-career development and the leadership pipeline Presentation Transcript

  • ® Career Development and the Leadership Pipeline Creating the top leadership you will need for the future November 5, 2008 Mary Fontaine
  • A Perfect Storm is looming upon us Economic Uncertainty Changing Capital Markets/Credit Crisis Shifting Demographics Increased Competition Globalization © 2008 Hay Group. All Rights Reserved 2
  • A drought of talent around the globe Demographic projections show a growing talent shortage around the world, particularly in Europe and Asia *Source: “It’s 2008, Do you know where your talent is? Why acquisition and retention strategies don´t work.” Deloitte Consulting White Paper © 2008 Hay Group. All Rights Reserved 3
  • A harsher environment for executives Two out of every five new CEOs fail in first 18 months – average global tenure down to 7.6 from 9.5 years Harvard Business Review Rate of involuntary CFO turnover growing due to lack of fit Russell Reynolds 60% of CIOs at risk due to lack of strategic approach to solving business problems Gartner survey of CEOs Average tenure of CMOs now lasting only 26 months due to lack of quantitative skills Spencer Stuart © 2008 Hay Group. All Rights Reserved 4
  • Effective talent management makes a difference Resulting in more of this… Source: 2006 Chief Executive magazine/Hay Group “Best Companies for Leaders” Survey Results from our 2006 survey with CEO Magazine – 20 best companies for managing talent © 2008 Hay Group. All Rights Reserved 5
  • A critical issue that impacts the entire organization Essential to current and future success CEO and CEO’s Successor • Develop current leaders for future business needs Key Executives: • Identify future CEO successors • Top Team • Top Team’s Direct Reports • Fill mission critical roles with qualified people • Identify future leaders Managers: • Identify future functional heads • Departmental Mgr. • Determine critical roles • Directors • Determine critical experiential roles • Key Technical Experts • Identify future managers Individual Contributors: • Identify future experts • Non-exempt • Professional Individual Contributors • First Line Supervisors • First Line Managers A1 A2 A3 © 2008 Hay Group. All Rights Reserved 6
  • At the top: The CEO role is changing Dimensions of the CEO Job Makes Role Smaller Dimension Makes Role Larger Subsidiary, owned by venture Ownership Public capitalists, family, etc. (Home), domestic, regional Markets Global Limited Functionality Complete Simple Technology Complex Low Diversity High Regulated External Constraints Unregulated $10M Scale $100B Business friendly Institutional Context Business unfriendly © 2008 Hay Group. All Rights Reserved 7
  • At the top: Unique requirements and competencies are emerging Emerging CEO Accountabilities Some Emerging Competencies Drive balance sheet, enterprise worth Integrity/Embodies the Values § “Walks the talk,” acts on values even at significant personal cost or risk Develop broad business strategy Aligns Organization Systems to Develop acquisition strategy and Drive Strategy ensure ROI § Ensures organization as a system has what it needs to deliver the strategy Drive organizational capability to Senior Team Leadership sustain growth § Recognizes, composes, and develops the senior leadership team into a strategic Manage effective Board and investor decision making body relationships Conceptualizes Constituencies § Integrates a complex and broad set of relationship into his or her conception of Ensure access to capital and debt the CEO role Conceptual Openness Serve as an organizational and industry § Explores and integrates conflicting leader perspectives into one’s viewpoint © 2008 Hay Group. All Rights Reserved 8
  • It is best to start with demand, then evaluate supply Demand ? Understand current & future business needs, organizational ? requirements, & position demands Assess & Manage the Gaps Create robust plans to manage risks in moving talent into key roles Supply Assess capability of current & future leaders to assume specific roles © 2008 Hay Group. All Rights Reserved 9
  • Start from the outside in to determine your strategic leadership demands 1. What are your strategic Market Demands priorities? Business Strategies/Models 2. What business model do you need to support Global Local those priorities? Operations/ Innovation Efficiency 3. What are the key roles you need to support Revenue/Growth Margin/Profitability your business model? Long-Term Short-Term (tomorrow’s business) (today’s business) Varying Implications for Leadership Roles © 2008 Hay Group. All Rights Reserved 10
  • Different leadership roles require and develop different capabilities Advisory Roles Matrix Roles Delivery/Operational Roles Global Enterprise Provides advice and Manages and The job holder is held Leadership guidance to support coordinates internal visibly and directly the achievement of resources and/or accountable for the develops relationships achievement of business Enterprise business results through Leadership the development of with external partners to results/outputs which are functional capability and deliver measurable achieved through the the interpretation and business results. direct control of application of significant resources. Strategy Formation functional policies. Strategic Levels of Work Strategic Alignment Strategic Operational Implemen- tation Tactical Implemen- tation © 2008 Hay Group. All Rights Reserved 11
  • Different career paths develop different leadership capability: And not how you think! n “Stretching” is not strengthening: Moving through roles quickly develops operational strength but is detrimental to key competencies needed for the future: - Integrity/Embodying Values - Interpersonal Sensitivity - Reading the Customer Landscape n Staying too long in pure delivery roles develops narrow leadership and can undermine accurate self-assessment and integrity n Collaborative/matrix roles appear to develop more leadership capabilities than pure operational or staff roles, particularly self confidence and organizational savvy © 2008 Hay Group. All Rights Reserved 12
  • How do you become more like the companies that manage talent well? n The quality and breadth of leadership in their organization Most Admired 83 83 Peer Group 54 54 0 20 40 60 80 100 % "Very Effective" n Their effectiveness in identifying future leaders Most Admired 65 65 Peer Group 4949 0 10 20 30 40 50 60 70 80 90 100 % "Very Effective" n The size of their ‘high potential’ pools Most Admired 73 73 Peer Group 43 43 0 10 20 30 40 50 60 70 80 90 100 % "Very Effective" © 2008 Hay Group. All Rights Reserved 13
  • What the most admired companies do to develop people that’s different 1. Make leadership development a top priority 2. Invest early in leadership development for managers 3. Spot future stars early and support their progress 4. Train the team 5. Make leaders accountable for creating leaders © 2008 Hay Group. All Rights Reserved 14
  • Differentiator 1: Make leadership development their top priority n Do you rate your company’s efforts to develop leaders as above average? Most Admired 57 57 Peer Group 24 24 0 10 20 30 40 50 60 70 80 90 100 % "Very Effective" n Leaders develop a significant amount of time to hiring and developing talent Most Admired 67 67 Peer Group 48 48 0 10 20 30 40 50 60 70 80 90 100 % "Very Effective" Action Points n Start at the top: developing leaders is a core part of your governing body’s objectives n Senior leadership is in charge of leadership development and is accountable to the board n Share knowledge: your company’s best leaders support the training of the next generation n Mentors assigned to managers at every level of the organization © 2008 Hay Group. All Rights Reserved 15
  • Differentiator 2: Invest early in leadership development n My company makes it a priority to provide leadership development opportunities to mid level managers Most Admired 62 62 Peer Group 37 0 10 20 30 40 50 60 70 80 90 100 % "Very Effective" Action Points n Designed career paths for managers in order to allow them to pick up the variety of skills that ‘silo’ career ladders miss out on n Development roles such as Executive Assistants in order to rotate executives through the organization n Develop a future leaders shadowing program n Create a ‘speed to competency’ first 100 days program for new leaders © 2008 Hay Group. All Rights Reserved 16
  • Differentiator 3: Spot future stars early and support their progress n Do you have a formal process for identifying future leaders? Most Admired 92 92 Peer Group 57 57 0 10 20 30 40 50 60 70 80 90 100 % "Very Effective" Action Points n Create a formal process to identify and retain high potentials n Create fast track training to accelerate the development of high potentials n Expose high potentials to the company’s leadership team as often as possible n Monitor the effectiveness of training and development with a telling 360 degree appraisal program n Create opportunities for high potentials to work together on the process © 2008 Hay Group. All Rights Reserved 17
  • Differentiator 4: Train the team n To what extent do you provide training and other activities to help leadership teams work together more effectively? Most Admired 52 52 Peer Group 27 27 0 10 20 30 40 50 60 70 80 90 100 % "Very Effective" Action Points n Assess the development needs of the team as a whole n Ensure all training has clear goals and supports the overall direction of the team n Provide team training on a regular basis © 2008 Hay Group. All Rights Reserved 18
  • Differentiator 5: Make leaders accountable for leading, not just business results n To what extent so you measure the motivational impact of your leaders on their teams? Most Admired 52 52 Peer Group 26 26 0 10 20 30 40 50 60 70 80 90 100 % "Very Effective" Action Points n Don’t simply measure personal success, assess how the leader is leading n Make leaders accountable for cascading best practice throughout the organization © 2008 Hay Group. All Rights Reserved 19
  • ® Career Development and the Leadership Pipeline Creating the top leadership you will need for the future November 5, 2008 Mary Fontaine