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The Impact of Starting Leadership Development Earlier: Easier Recruiting, Better Retention, and Higher Performance

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We’ve all heard it said that “timing is everything.” This is especially applicable to the timing of leadership development. Most organizations wait nearly a decade before they provide serious development for leaders and individual contributors. This presentation provides evidence that leadership development strongly impacts recruitment of talent, retention of high potential employees and improved organization performance. By waiting organizations incur unneeded costs and deprive large numbers of employees from having the advantage of working for a good boss.

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The Impact of Starting Leadership Development Earlier: Easier Recruiting, Better Retention, and Higher Performance

  1. 1. © 2016 Zenger Folkman The Impact of Starting Leadership Development Earlier: Easier Recruiting, Better Retention, and Higher Performance Dr. Jack Zenger Chief Executive Officer Zenger Folkman
  2. 2. 2 ©2015QUALTRICSLLC. The recording for today’s presentation will be available on-demand at talentweek.com. Along with other content and webinars from Talentweek. Join the conversation on twitter by tweeting @qualtrics using #Talentweek and #HumanCapital. It’s not too late to register! Make sure your team and network register for Talentweek. Housekeeping
  3. 3. Dr. Jack Zenger Chief Executive Officer Jack Zenger, D.B.A., is a world-renowned behavioral scientist, bestselling author, consultant, and a national columnist for Forbes and Harvard Business Review. With more than five decades of experience in leadership development, he is recognized as a world expert in the field of people development and organizational behavior. His ability to connect with Executives and audiences though compelling research and inspiring stories make him an influential and highly sought-after consultant and speaker. For more go to: http://zengerfolkman.com/jack/ © 2016 Zenger Folkman
  4. 4. © 2016 Zenger Folkman A Client’s Retrospective View Q: You have had great success in your development of leaders. Your leaders have improved at a statistically significant level on all the competencies we measure. What would you do differently, if you were doing all this again? A: We would begin earlier in the leader’s career.
  5. 5. © 2016 Zenger Folkman The Urgent Need of Leadership • 60 percent of companies are facing leadership shortages that impede their performance. • 31 percent say developing leaders is their largest talent issue (Deloitte). • 10,000 baby boomers retire every day. • Recruiting and retention becoming a serious challenge.
  6. 6. © 2016 Zenger Folkman What Helps Recruit and Retain Leaders?
  7. 7. © 2016 Zenger Folkman How Might This Be Solved? Solution • Emphasize leadership development as a core component of firm’s value proposition. • Accelerate the development process.
  8. 8. © 2016 Zenger Folkman Potential Groups 1. Supervisors and Team Leads 2. Individual Contributors
  9. 9. © 2016 Zenger Folkman Young Supervisors
  10. 10. © 2016 Zenger Folkman Average Age at Different Levels 0 10 20 30 40 50 Supervisors Managers
  11. 11. © 2016 Zenger Folkman When do managers first receive leadership training? On average, at age 42— about 10 years after they began supervising people. At What Age Do We Start Developing Leaders Now? 25 & Under 26-30 31-35 36-40 41-45 46-50 51-55 56-60 60 & Over Age Source Zenger Folkman Training Database HBR.ORG 2.5% 7.8 13.6 18.5 19.0 15.9 13.1 6.7 2.9
  12. 12. © 2016 Zenger Folkman When Do We Start Developing Leaders? • The average supervisor would typically wait 9 years before participating in anything but a basic development program. • Most organizations are waiting until leaders move beyond the supervisory level before starting serious development.
  13. 13. © 2016 Zenger Folkman • Set expectations—everyone will progress. • Take development plans seriously. • Everyone is involved in everyone’s development. 1. Challenge: Create a Culture That Values Development
  14. 14. © 2016 Zenger Folkman • Powerful recruiting tool. • Strong force for retention. • Improves leaders’ performance. 2. Start Leadership Development Earlier
  15. 15. © 2016 Zenger Folkman • Every employee has the right to work with an excellent boss. • Learning by trial and error leads to unnecessary mistakes. • We rely heavily on prior role models a leader has had. • Graduates from the even the best universities have seldom had leadership development. 3. Fewer Painful Mistakes are Made
  16. 16. © 2016 Zenger Folkman • Noticeable difference in those who learn a skill at a young age versus an older age. • Instruction followed by deliberate, correct practice creates elevated levels of skill. 4. Good Habits are Acquired Early
  17. 17. © 2016 Zenger Folkman We have compelling data proving a strong relationship between leadership skills and: • Employee engagement • Employee retention • Customer satisfaction • Improved productivity • Greater innovation Beginning a decade earlier means the organization benefits from a longer period of stronger leadership. 5. Organizations Perform Better
  18. 18. © 2016 Zenger Folkman • At the current time, we practice a ”sink or swim” approach. • How many leaders who failed could have been saved with “early-on” development that gave them the basics for leading effectively? 6. Fewer Failures
  19. 19. © 2016 Zenger Folkman What Needs to Change? Continue to emphasize promotions from within. • Evidence shows that promotions from within work better. • Identify early those with leadership potential. • Provide more formal and informal development opportunities at a younger age.
  20. 20. © 2016 Zenger Folkman Focus More Attention on Younger Staff Classic breakdown of generational groups: 1. Traditionalists Born from 1930 to 1945 2. Baby Boomers Born from 1946 to 1965 3. Gen X Born from 1966 to 1981 4. Gen Y (Millennials) Born from 1982 to 2000 • Today we are devoting roughly 88 percent of our development effort to Gen X and older. • Only 12 percent to Gen Y.
  21. 21. © 2016 Zenger Folkman Individual Contributors
  22. 22. © 2016 Zenger Folkman Are they leaders? Do they influence others? Is “Individual Contributor Leader” an oxymoron? Forgotten Leaders Analyst Senior Accountant Engineer Chemist Senior Scientist
  23. 23. © 2016 Zenger Folkman How Important are Individual Contributors? • Accomplish the lion’s share of work. • Provide vital leadership. • Pool for future leaders. • Leadership occurs at all levels.
  24. 24. © 2016 Zenger Folkman Charles A. O’Reilly of Stanford University, “Competitive advantage comes not from attracting unusual talent, but from utilizing the people already there.” Organizational Success Depends on Them Peter Drucker observed: “The most effective organizations are those that enable ordinary people to do extraordinary things.”
  25. 25. © 2016 Zenger Folkman Results from 654 Individual Contributors—the greater the level of competencies, the more productive they are. Impact of Competencies on Productivity 0% 5% 7% 8% 15% 30% 29% 49% 63% 81% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 1st - 9th 10th - 19th 20th - 29th 30th - 39th 40th - 49th 50th - 59th 60th - 69th 70th - 79th 80th - 89th 90th - 100th Managers’ overall ratings of individual contributors’ competencies Percentage rated in the top 10% in Productivity
  26. 26. © 2016 Zenger Folkman How Can We Best Develop Leaders? • Everyone expected to grow. • Multi-rater assessment & feedback. • Identify fatal flaws. • Focus on strengths. • Follow-up coaching. • Managerial involvement. • Using current position as the classroom. • Action learning projects.
  27. 27. © 2016 Zenger Folkman Retention of Individual Contributors • Extremely vulnerable if not cared for. • Loss can be extremely damaging. • Everyone’s work needs meaning, purpose, and opportunity for mastery. • Need to be treated with respect and dignity. • Development programs can have a substantial positive impact.
  28. 28. © 2016 Zenger Folkman Conclusions About Early Development • Huge leg up in recruiting. • Moves people from having only a job, to having a career. • Greater skills increase individual and organizational productivity. • Development elevates retention.
  29. 29. © 2016 Zenger Folkman Thank You Contact us at info@zengerfolkman.com or www.zengerfolkman.com Better Leaders. Better Results. Our strengths-based leadership development programs are built with research gathered on more that 85,000 global leaders suing over a million 360-degree assessments. These finding are delivered through our unique cross-training approach that is proven to increase leadership effectiveness.
  • jch_2011

    Jul. 5, 2017

We’ve all heard it said that “timing is everything.” This is especially applicable to the timing of leadership development. Most organizations wait nearly a decade before they provide serious development for leaders and individual contributors. This presentation provides evidence that leadership development strongly impacts recruitment of talent, retention of high potential employees and improved organization performance. By waiting organizations incur unneeded costs and deprive large numbers of employees from having the advantage of working for a good boss.

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