1. Reinventing Your Business By Reinventing Your Talent Jim Bethmann, Senior Partner, Heidrick & Struggles

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• If you always do

what youve always done, youll always get what youve always got

3. Where is your executive talent taking you? Past success assumes continued success Success reinforces neural pathways Success creates difficulties seeing alternatives

4. Organizations follow the same direction!

• If you dont reinvent your business strategy if your company continues doing what its been doing where are you likely to be in five years? Or less?

5. Reinventing is essential for continued success

• Reinventing your business as your customers, markets, and industry evolve is more than a good idea Its essential!!

• And, its nearly impossible to reinvent your business without reinventing your talent!

Why? ...

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• 1 2003 Survey of 730 Global CEOs by The Conference Board

Top 5 factors most important to CEOs success: 1

• • Developing and retaining potential leaders

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• • Top management succession

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• • Talent identification and growth

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• • Customer Retention

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• • Managing M&A and alliances

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7. The Current State

• McKinsey study War for Talent Conclusions:

• • Talent management cannot be isolated from business strategy.

• • Companies achieve the best outcomes by actively involving senior leaders in talent development during the early stages of strategy formation.

• • Those that rely solely on HR to drive their strategy for talent are missing an opportunity to align the workforce with the business.

• • Executives should find ways to make line managers responsible for developing the skills of employees.

8. What CEOs Can Do!

• • Assess current leadership talent

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9. Group Dynamics in Executive Teams 2006 by Lore International Institute, Inc.

10. What CEOs Can Do!

• • Assess current leadership talent

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• • Align key target positions in talent management program

2

• • Systematically develop internal leadership talent

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• • Determine whether to make or buy appropriate talent mix

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11. Lores Strategic Succession Management Process 2006 by Lore International Institute, Inc.

12. What CEOs Can Do!

• • Assess current leadership talent

1

• • Align key target positions in talent management program

2

• • Systematically develop internal leadership talent

4

• • On-board external leaders effectively

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• • Determine whether to make or buy appropriate talent mix

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13. New Leader Assimilation 2006 by Lore International Institute, Inc.

14. A HR Director should be able to tell their CEO

• • What are best practices for succession management?

• • What are projected trends in talent requirements for future business success?

• • How will demographic trends affect talent availability?

• • How can you best manage the organizational change required for a successful succession management process?

• • How can you create ongoing metrics for monitoring the succession management process and outcomes?

15. Conclusions: You can reinvent your talent in four ways Develop your current leaders Challenge your potential leaders Hire outside talent Grow your potential leaders

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