Reinventing Your Business By Reinventing Your Talent

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By colleague Jim Bethmann

Transcript of Reinventing Your Business By Reinventing Your Talent

  • 1. Reinventing Your Business By Reinventing Your Talent Jim Bethmann, Senior Partner, Heidrick & Struggles
  • 2.
    • 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? ...
  • 6.
    • 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
    1
      • Top management succession
    2
      • Talent identification and growth
    3
      • Customer Retention
    4
      • Managing M&A and alliances
    5
  • 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
    1
  • 9. Group Dynamics in Executive Teams 2006 by Lore International Institute, Inc.
  • 10. What CEOs Can Do!
      • Assess current leadership talent
    1
      • Align key target positions in talent management program
    2
      • Systematically develop internal leadership talent
    4
      • Determine whether to make or buy appropriate talent mix
    3
  • 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
    5
      • Determine whether to make or buy appropriate talent mix
    3
  • 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
  • 16.