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Succession Matters: Impactful leadership development

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Impactful leadership development and
accelerate readiness.

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Succession Matters: Impactful leadership development

  1. 1. © 2015 Korn Ferry. ALL RIGHTS RESERVED. Succession Matters: Impactful leadership development and accelerate readiness. May 28, 2015
  2. 2. © 2015 Korn Ferry. ALL RIGHTS RESERVED. 2 Today’s speakers Noah Rabinowitz Global Lead of Leadership Development and Senior Partner Cori Hill Global Lead, High-Potential Leadership Development
  3. 3. © 2015 Korn Ferry. ALL RIGHTS RESERVED. 3 Korn Ferry
  4. 4. © 2015 Korn Ferry. ALL RIGHTS RESERVED. 4 The Succession Matters global survey
  5. 5. © 2015 Korn Ferry. ALL RIGHTS RESERVED. 5 • Assess your talent for current and future capabilities. • Review and segment your talent. • Drive decision making on talent deployment. What talent do you have? How do you close the gaps? • Develop individuals and talent pools. • Benchmark and attract external talent. • Deploy key talent to the right place at the right time. What talent do you need? • Align talent and business strategies. • Prioritize critical roles and talent pools. • Create success profiles.
  6. 6. Do organizational leaders think they have a solid pipeline of “ready now” talent within the ranks?
  7. 7. © 2015 Korn Ferry. ALL RIGHTS RESERVED. 7 Development findings
  8. 8. © 2015 Korn Ferry. ALL RIGHTS RESERVED. 8 Development findings
  9. 9. © 2015 Korn Ferry. ALL RIGHTS RESERVED. 9 Development findings Build vs. Buy?
  10. 10. © 2015 Korn Ferry. ALL RIGHTS RESERVED. 10 Four core pillars of leadership development
  11. 11. © 2015 Korn Ferry. ALL RIGHTS RESERVED. 11 Competencies: Combine Korn Ferry’s KFLA and your business insights to identify the critical skills your leaders need to activate strategy. Experiences: Leaders need a breadth and depth of experience including operations, tough people challenges and high visibility assignments. Research informs what leaders need to do Leadership development needs to pair experiential challenges and critical reflection to accelerate the readiness of leaders to activate strategy.
  12. 12. © 2015 Korn Ferry. ALL RIGHTS RESERVED. 12 •  Transformational development starts with facilitating insight into a leader’s core characteristics. •  Reflection that helps leaders focus on the core of who they are and who they want to be can help create authentic motivation to change. Traits: Authentic, learning agile, self-aware, and vital. Drivers: Power, relationships, autonomy, balance, security and achievement. Research informs what leaders need to be
  13. 13. © 2015 Korn Ferry. ALL RIGHTS RESERVED. 13 •  Leadership strategy implemented inconsistently. •  No clear performance and potential criteria. •  Targeted leadership development varies among business units and is determined largely by individual managers. •  Little executive engagement in business unit level talent decisions. •  Little understanding of short-term critical talent supply and demand. •  No integration of leadership development strategy with other talent processes. •  Leadership development strategy implemented company-wide. •  Potential and performance criterion are consistent. •  Targeted leadership development varies among business units and is determined largely by individual managers. •  Moderate executive engagement in pivotal leadership talent decisions. •  Short-term planning & understanding of critical talent supply and demand. •  Integration of leadership development strategy with select other talent processes. •  Inconsistent transparency regarding talent review results. •  Leadership development strategy implemented company- wide. •  Potential and performance evaluation criteria are consistent. •  Targeted leadership development implemented consistently •  Moderate executive engagement in leadership talent development decisions. •  Longer-term planning & understanding of critical talent supply and demand. •  Integration of leadership development strategy with select other talent processes. •  Full and consistent disclosure to employees regarding talent review results. •  Support for leaders in transitions. Where is your organization right now? No leadership development strategy. High potential leaders identified via ad-hoc process and without clear criteria. No targeted leadership development. •  Leadership development strategy implemented company-wide. •  Clear identification criteria. •  Targeted leadership development implemented consistently across the enterprise. •  Full executive engagement in company-wide pivotal leadership talent decisions. •  Longer-term planning & understanding of critical talent supply and demand. •  Full integration of the leadership development strategy with other talent processes. •  Full and consistent disclosure to employees regarding talent review.. •  Leadership strategy drives competitive advantage for the organization as documented through business metrics (low turnover, high engagement). •  High potential leadership talent is visible enterprise-wide and shared. •  Support for leaders in transitions. Reactive Inconsistent Standardized Transparent Business Integrated 11% 10% 31% 29% 19%
  14. 14. © 2015 Korn Ferry. ALL RIGHTS RESERVED. 14 Senior Leadership Develop: Strategic business focus Industry, change, strategy structure & systems, critical thinking, markets, culture. Mid-level Leaders Develop: Business acumen Strategic thinking , finance, innovation, marketing, risk analysis, 360 feedback. First Level Leaders Develop: Fundamentals Team development, efficacy, decision making, coaching, communication, problem solving. Differentiated development strategies Ready-now, High potentials, and High professionals. Business as usual development. Develop for depth. Develop for breadth. Develop for next role.
  15. 15. © 2015 Korn Ferry. ALL RIGHTS RESERVED. 15 Why “sink or swim” is a poor talent strategy Over 25% of high potentials are at risk of derailment. Why? •  Failure to align performance expectations. •  Unable to adapt to differences. •  Political missteps. •  Blocked personal learner. •  Defensiveness. •  Failure to staff effectively. •  Overdependence on a single skill. •  Failure to build key relationships. •  Attempting to do too much. •  Negative credibility. Leadership transitions are known danger zones. Source: Korn Ferry research 2012
  16. 16. © 2015 Korn Ferry. ALL RIGHTS RESERVED. 16 During transitions: give swimming lessons • Who do you want to be as a leader? • What values do you want to lead by? • What do you need to accomplish? • What’s the best way to get there? • How do you engage and enlist the people you need? • Who do you want to be as a person? • What values do you want to live by? • What do you need to get better at, short- term and long-terms to accomplish your agendas?
  17. 17. © 2015 Korn Ferry. ALL RIGHTS RESERVED. 17 •  Activate your strategy through development. •  Develop the whole person: Engage the head and the heart. •  Treat development as a journey: Address the necessary conditions for development. •  Development for readiness is more highly individualized, targeted, challenging and supportive. •  Support leaders as they transition into new roles. Key takeaways
  18. 18. © 2015 Korn Ferry. ALL RIGHTS RESERVED. 18 Pick up the Succession Matters report series! Reports series for essential Succession Management: •  Effective succession management planning. •  Accurate identification of leadership potential. •  Successful development and accelerated readiness. Available at www.kornferry.com/successionmatters
  19. 19. Any questions?
  20. 20. © 2015 Korn Ferry. ALL RIGHTS RESERVED. 20© 2015 Korn Ferry. ALL RIGHTS RESERVED.

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