developing leaders beyond the boardroom
TRANSCRIPT
© 2014 Halogen Software Inc. Confidential – Not to be used, copied or redistributed without Halogen’s prior written permission.
Strategic Talent Management 1
Developing Leaders Beyond the Boardroom
© 2014 Halogen Software Inc. Confidential – Not to be used, copied or redistributed without Halogen’s prior written permission.
Strategic Talent Management 2
Today’s Presenters
Anita Bowness Solutions Consultant
Halogen Software
Catherine Cormier Product Manager Halogen Software
© 2014 Halogen Software Inc. Confidential – Not to be used, copied or redistributed without Halogen’s prior written permission.
Strategic Talent Management 3
What we’ll cover …
• Leadership investments
• Leadership outside of the boardroom
• HR’s evolving role in developing leaders
• Development as an element in succession planning
• How to leverage a talent management solution to help
• Questions and answers
© 2014 Halogen Software Inc. Confidential – Not to be used, copied or redistributed without Halogen’s prior written permission.
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Poll
What is the state of your organization’s bench strength?
• We have individuals identified and ready to fill critical leadership and frontline manager roles, should the need arise
• We have identified individuals that have potential, but we aren’t really developing them as leaders
• We’re not sure what potential exists within the organization to fill key roles
© 2014 Halogen Software Inc. Confidential – Not to be used, copied or redistributed without Halogen’s prior written permission.
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Investing in Leadership
Organizations worldwide spend $50 billion to develop leaders, yet only…
15% Of organizations have the supply and quality of
leaders to meet future business goals
46% Of critical leadership positions have ready-now
back-ups
1 in 4 HR professionals gives high marks to current
leaders in their organizations
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The disconnect
86% Of global HR & business leaders cite leadership as a top issue
Source: Global Human Capital Trends 2015. Leading in the new world of work. Bersin by Deloitte. Deloitte University Press.
6% Of organizations believe their leadership pipeline is ‘very ready’
© 2014 Halogen Software Inc. Confidential – Not to be used, copied or redistributed without Halogen’s prior written permission.
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What happens when organizations get leader development…
Right
• 20% Higher than average leadership quality and bench strength
• 26% More critical positions can be filled immediately
• 2.3 Times more likely to outperform other companies on financial metrics
Wrong
• 67% Lower than average leadership quality and bench strength
• 21% Fewer critical positions can be filled immediately
Source: Ready-Now Leaders: Meeting Tomorrow’s Business Challenges. Global Leadership Forecast 2014 l 2015
(The Conference Board, DDI)
© 2014 Halogen Software Inc. Confidential – Not to be used, copied or redistributed without Halogen’s prior written permission.
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A generational shift
10K Boomers will enter retirement EVERY DAY for the next decade!
Millennials make up more than half the workforce
Source: Bersin by Deloitte. Global Human Capital Trends 2015. Leading in the new world of work. 2015
© 2014 Halogen Software Inc. Confidential – Not to be used, copied or redistributed without Halogen’s prior written permission.
Strategic Talent Management 9
Effective frontline managers
Source: Harvard Business Review: 2013. Frontline Managers: Are They Given the Leadership Tools to Succeed?
“Managers on the front line are critical to sustaining quality, service,
innovation, and financial performance.” Linda A. Hill
Wallace Brett Donham Professor of Business Administration Harvard Business School
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The importance of frontline managers
70%
73%
76%
77%
78%
Contributing to effective communications
Achieving a high level of employee engagement
Achieving high levels of productivity
Helping your organization reach its business goals
Achieving a high level of customer satisfaction
Source: Harvard Business Review: 2013. Frontline Managers: Are They Give the Leadership Tools to Succeed?
© 2014 Halogen Software Inc. Confidential – Not to be used, copied or redistributed without Halogen’s prior written permission.
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Frontline managers – Low marks on business competencies
19%
20%
21%
21%
27%
33%
Inspirational leadership
Developing talent
Innovative thinking
Strategic thinking
Organizational savvy/judgment
Business-based decision-making
Source: Harvard Business Review: 2013. Frontline Managers: Are They Give the Leadership Tools to Succeed?
© 2014 Halogen Software Inc. Confidential – Not to be used, copied or redistributed without Halogen’s prior written permission.
Strategic Talent Management 12
Retention of high-performing and high-potential employees
• Top performer differential is 2.5 - 10 x that of an average employee*
• “Superstars” produce up to 12 x more than an average employee**
• Cost of replacing a key role is 1.5 x burdened salary***
• Cost / day of operating without a key player in a strategic role is as high as $7,000 / day****
Source: *Sullivan, 2008. **Corporate Executive Board. ***HCI Research, 2008. ****Sullivan, 2005.
© 2014 Halogen Software Inc. Confidential – Not to be used, copied or redistributed without Halogen’s prior written permission.
Strategic Talent Management 13
Growing your own leaders pays off
© 2014 Halogen Software Inc. Confidential – Not to be used, copied or redistributed without Halogen’s prior written permission.
Strategic Talent Management 14
HR’s evolving role
Source: Ready-Now Leaders: Meeting Tomorrow’s Business Challenges. Global Leadership Forecast 2014 l 2015 (The Conference Board, DDI)
How do HR professionals contribute to business?
18% Anticipator
Uses data to predict talent gaps in advance; provides insights about how talent relates to business goals.
60% Partner
Openly exchanges information with the business about current issues; collaboratively works towards mutual goals.
22% Reactor
Ensures compliance with policies/practices; responds to business needs by providing tools/systems when asked.
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Strategic Talent Management 15
Raise the bar
Link expectations to strategy
Define leadership competencies
Establish leadership competencies as foundation
Give feedback to leaders
Use a systematic process
Have highly effective development plans
Regularly review leadership development plans
Employ formal programs to ensure smooth leadership transition
Source: DDI Global Leadership Forecast 2014|2015
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Strategic Talent Management 16
Leadership development as part of succession planning…
Identification
Assessment
Development
Management
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Strategic Talent Management 17
Identification
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Strategic Talent Management 18
Dimension 1: identification
Identification of succession planning needs, linking needs to goals, and linking goals to strategic vision
Identification
Average Rating:
49% (FAIL)
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Strategic Talent Management 19
Dimension 1: identification Identification
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Strategic Talent Management 20
Identification
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Strategic Talent Management 21
Identification
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Strategic Talent Management 22
Dimension 1: identification Identification
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Strategic Talent Management 23
Assessment
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Strategic Talent Management 24
Assessment
Using the identification elements to assess needs and individual/department promotion potential
Average Rating:
47% (FAIL)
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Strategic Talent Management 25
Assessment
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Strategic Talent Management 26
Assessment
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Strategic Talent Management 27
Assessment
© 2014 Halogen Software Inc. Confidential – Not to be used, copied or redistributed without Halogen’s prior written permission.
Strategic Talent Management 28
Assessment
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Strategic Talent Management 29
Development
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Strategic Talent Management 30
Development
Working with individuals to shrink the development gaps, and moving forward to help each area develop talent pools
Average Rating:
49% (FAIL)
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Strategic Talent Management 31
What motivates employees
Source: DDI Global Leadership Forecast 2014|2015
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Strategic Talent Management 32
Development
Develop a plan for closing development gaps
Goal
Formal
Informal
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Strategic Talent Management 33
1:1 Exchange
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Strategic Talent Management 34
Development plan report
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Strategic Talent Management 35
Prepare for future responsibility
Use feedback tools for ongoing input
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Strategic Talent Management 36
Prepare for future responsibility
Offer job aids to reinforce new skills
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Strategic Talent Management 37
Provide great coaching and management tools
Prepare for future responsibility
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Strategic Talent Management 38
Measurement
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Strategic Talent Management 39
Management
Actively keeping senior management, department-level management, and individuals appraised of progress; encouraging participation in succession planning programming; and evaluating the program and responding to needed changes
Average Rating:
47% (FAIL)
© 2014 Halogen Software Inc. Confidential – Not to be used, copied or redistributed without Halogen’s prior written permission.
Strategic Talent Management 40
Management
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Strategic Talent Management 41
Management
© 2014 Halogen Software Inc. Confidential – Not to be used, copied or redistributed without Halogen’s prior written permission.
Strategic Talent Management 42
Management
© 2014 Halogen Software Inc. Confidential – Not to be used, copied or redistributed without Halogen’s prior written permission.
Strategic Talent Management 43
Identification Assessment
Development Management
Achieving your goals
Your workforce is your organization’s only sustainable competitive advantage and the
most critical means to achieve your company’s strategic goals
strategy
goals
workforce
development analysis
repeat
Strategic Talent Management 45
© 2015 Halogen Software Inc. Confidential – Not to be used, copied or redistributed without Halogen’s prior written permission.
Poll
How may we follow up with you after today’s webcast?
• I’d like a free trial or personalized demo of Halogen TalentSpace™
• Please send me more information on Halogen TalentSpace™
• No information required, thanks
© Development Dimensions Int’l Inc., 2015. All rights reserved.
Strategic Talent Management 46
© 2015 Halogen Software Inc. Confidential – Not to be used, copied or redistributed without Halogen’s prior written permission.
Questions?
Anita Bowness Solutions Consultant
Halogen Software
Catherine Cormier Product Manager Halogen Software
© 2014 Halogen Software Inc. Confidential – Not to be used, copied or redistributed without Halogen’s prior written permission.
Strategic Talent Management 47
Download your own copy …
www.halogensoftware.com/learn
© 2014 Halogen Software Inc. Confidential – Not to be used, copied or redistributed without Halogen’s prior written permission.
Strategic Talent Management 48
Contact Information
Julie Harrison
Product Marketing Manager
Anita Bowness
Solutions Consultant
Catherine Cormier
Product Manager
Thank You!