Top Companies for Leaders 2011 Study · 2016-09-07 · various means such as 360 degree feedback,...

Aon Hewitt I Consulting 1

Top Companies for Leaders 2011 StudyInsights and Best Practices

Asia Pacifi c

ConsultingTalent & Rewards

Top Companies For Leaders 2011 Study 2

About the Study

Aon Hewitt's Top Companies for Leaders (TCFL) study is one of the most comprehensive studies on organizational leadership practices around the globe. 478 organizations participated in the 2011 global study. Our fi rst study results, published in 2002, uncovered a link between fi nancial success and great leadership practices and identifi ed differentiating elements found only in Top Companies. We conducted this study again in 2003, 2005, 2007 and 2009.

The data derived from these fi ve studies provided the foundation for our 2011 study which we believe to be the most comprehensive global study available on leadership to date. Aon Hewitt conducted the 2007, 2009 and 2011 Top Companies for Leaders studies in partnership with FORTUNE and The RBL Group.


Organizations that have great leadership practices demonstrate strong fi nancial results over the long term. Leadership is the single most valuable competitive advantage today. While it helps in gaining an edge over competition, it proves to be even more valuable as economies go through ups and downs. It was within this economic context that Aon Hewitt and its study partners - The RBL Group and FORTUNE - undertook the 2011 Top Companies for Leaders study.

Globally, 478 companies participated in the research of which 152 companies were from Asia Pacifi c (APAC). A comprehensive evaluation process comprising of a scan of leadership practices and policies of organizations, in-depth interviews with HR leaders, CEOs and senior leaders, and fi nally blind judging from the shortlist, culminated in the Global Top Companies for Leaders.

This research suggests that the biggest business challenge that organizations in Asia Pacifi c are grappling with today is 'Business Growth'. More than half the participating organizations rated 'Business Growth' as the most pressing challenge currently. 'Margin Pressures' and 'Increased Competition' are the two other top business challenges being faced by organizations in the region.

A strong workforce, yet untapped business potential, enabling governments, entrepreneurial spirit and a large domestic demand for consumption defi ne the economies of APAC. It also explains the challenge of business growth. Organizations in the region have realized the need to develop a leadership pipeline that will enable this growth.

Our research shows that the Top Companies have succeeded in creating and sustaining quality leadership. These Top Companies consider leadership development as a way of doing business. A comprehensive study of their leadership development practices brings out fi ve key themes that differentiate them from others:

1. Building a Leadership Brand: All of the Top Companies intentionally build a strong leadershipbrand and invest in opportunities for its senior leaders to cascade this leadership brand internally through various institutionalized processes. Top Companies also ensure external visibility of their leadership brand in order to attract top talent from the market.

2. Unrelenting Focus on Talent Assessment: All of the Top Companies have an institutionalizedtalent review process as compared to many of the other participants that do not have such a process. The Talent Review Process rigorously measures competencies, values and potential of the employees. They assess talent through multiple lenses and with great rigor.

3. Customized Learning Opportunity: Top Companies provide accelerated and customizedlearning for their top talent. One size does not fi t all for them. They emphasize one-to-one development interventions, such as exposure, coaching, mentoring, and action learning projects.

4. Taking Top Talent Out of Their Comfort Zone: Senior leaders encourage their top talent totake up new challenges outside of their comfort zones in order to create additional long-term value for the organization. To them, it is important to create a “creative tension” in the organization and bring out the best in their talent.

5. Diversity of Thought: Top Companies work toward increasing the diversity of their leadershipgroup as part of the leadership strategy. These organizations make conscious efforts to build an inclusive workplace promoting cultural agility, global mindset and diverse experiences.

Executive Summary


Importantly, the study fi nds that the key to success at Top Companies is a maniacal focus on execution for all their leadership programs and processes. The CEO scorecard carries measures against leadership development. The top leaders are seen to champion each of these systems. The Board of Directors reviews the progress in board meetings and actually gets involved in strategic leadership development initiatives. Indices are used to measure effectiveness of the programs at frequent intervals.

At Aon Hewitt, our take from the study is that leadership development is no longer an informal discussion in corner offi ces or board rooms. It has clearly evolved as a science. During the process of evaluating and shortlisting the Best of Asia Pacifi c organizations, we witnessed a passion, drive and a smart process for building a strong pipeline of leaders at the Top Companies. Clearly, a strong leadership development process creates a sustainable and diffi cult-to-replicate competitive advantage - a necessity for evolving high-growth businesses in growth economies of this region.


4 Top Companies for Leaders 2011

5 Business Challenges in Asia Pacifi c

6 Asia Pacifi c Top Companies for Leaders Study Highlights

• Building a Leadership Brand • Unrelenting Focus on Talent Assessment • Customized Learning Opportunity • Taking Top Talent Out of Their Comfort Zone • Diversity of Thought

32 Leadership Development Health Review Questionnaire

33 How the Top Companies Were Selected

34 Asia Pacifi c Judges’ Panel

35 Research Partners

36 Top Companies for Leaders Study Reports, Info-share and Strategy Sessions

Contents

Page



Top Companies for Leaders 2011

Global – Top 25

1. IBM Corporation

2. General Mills, Inc.

3. The Procter & Gamble Company

4. Aditya Birla Group

5. Colgate-Palmolive Company

6. Hindustan Unilever Limited

7. ICICI Bank Limited

8. McDonald’s Corporation

9. Whirlpool Corporation

10. PepsiCo, Inc.

11. General Electric Company

12. Banco Bilbao Vizcaya Argentaria S.A. (BBVA)

13. Natura Cosméticos S.A.

14. Deere & Company

15. 3M Company

16. Eli Lilly and Company

17. McKinsey & Company

18. L’Oréal

19. Unilever plc

20. Siemens AG

21. Intel Corporation

22. China Vanke Co., Ltd.

23. Wipro Limited

24. Bharti Airtel Limited

25. Novartis AG

Asia Pacifi c – Top 20

1. Aditya Birla Group

2. Hindustan Unilever Limited

3. ICICI Bank Limited

4. China Vanke Co., Ltd.

5. Infosys Technologies Limited

6. Wipro Limited

7. Mahindra & Mahindra Limited

8. Bharti Airtel Limited

9. Whirlpool of India Ltd.

10. Kotak Mahindra Bank Ltd.

11. Advanced Info Service PLC

12. HNA Group

13. S P Setia Berhad

14. Kasikorn Bank PLC

15. Coca-Cola Amatil Limited

16. Oil & Natural Gas Corporation Ltd.

17. Mindtree Limited

18. Marico Limited

19. NZ Refi ning

20. Commonwealth Bank of Australia

Asia Pacifi c - Special Recognition

• 3M China Limited • Accenture India

• Aegis Limited • Pitney Bowes Software India

• Schneider Electric India • Titan Industries Limited


Business Challenges

in Asia Pacifi c

Business leaders in Asia Pacifi c are witnessing paradoxical times. On one hand, the region is full of opportunities; on the other hand, the global business scenario throws up signifi cant challenges. In course of the TCFL study 2011 we asked companies to share their top challenges.

The following top 5 business challenges emerged:

1. Business Growth: In these times of economic uncertainty, managing business growth is the most pressing challenge for organizations across Asia Pacifi c. Growth continues to be the primary strategy for this region.

2. Margin Pressure: As more and more companies vie for the same opportunity in this market,margin pressure is a big challenge that business leaders are facing. Post 2008, companies no longer want growth at any cost and therefore productivity and profi tability are cornerstones of the growth strategy for corporates today.

3. Increased Competition: As large parts of the globe witness continued economic uncertainty and more companies look at Asia for growth, Asian companies see increased competition as inevitable. Companies that manage to consistently delight the customers will be able to leverage the growth opportunity better.

4. Globalization: Local businesses are either going global or are facing increased competition fromglobal fi rms. This region is expected to be a major source of business growth for many multinational corporations (MNCs). Globalization is a pressing challenge for both local as well as MNCs in APAC today.

5. Quality of Leaders: In a way this challenge emerges out of the four business challenges above.Companies are realizing that they need to develop quality of leaders who can grow the business profi tably, create distinctive competitive advantage, and manage cross-cultural operations. Most organizations realize that they currently are not built to grow quality leaders fast enough to meet these challenges. However Top Companies have succeeded in addressing these challenges and are taking immediate actions to move ahead in the talent race.

The next section, the Asia Pacifi c Top Companies for Leaders Study Highlights, describes in more detail what these Top Companies are doing differently to develop leaders and leadership pipelines that help them combat the above challenges.


Asia Pacifi c Top Companies

for Leaders Study Highlights

The winners of the Top Companies for Leaders study are well positioned to face the challenges mentioned in the earlier section. They do this by developing a robust leadership pipeline. These leading organizations - with a mix of focus, diligence, perseverance, diversity, creativity and innovation - are not shying away from their leadership agenda amid the complexities of a rapidly growing economy. They recognize that building top leaders requires a long-term commitment, which cannot be derailed by short-term distractions.

When compared to other organizations, the Top Companies have a strong focus on developing and preparing the next generation of leaders through smart selection, robust assessment, rich talent pipelines, and accelerated, customized development opportunities with an emphasis on the art of execution. Our research has identifi ed fi ve key differentiators that enable Top Companies to build a distinct competitive advantage over other organizations -

building a leadership brand

unrelenting focus on talent assessment

customized learning

opportunity

taking toptalent out of

the comfort zone

diversity of thought What Top

Companies do differently


1. Building a Leadership Brand: Top Companies intentionally build a strong leadership brand. The leadership brand is clearly articulated and then propagated throughout the organization. This brand becomes the glue that binds the internal talent to the origination and also becomes the magnet that attracts the top external talent into the organization. Current leaders are ambassadors of this brand and future leaders are gauged and then developed around this.

2. Unrelenting Focus on Talent Assessment: Top Companies realize the criticality of identifying the “right” talent. Big chances are taken with the top talent and thus top talent identifi cation is an extremely rigorous process. It is just not good enough to have a fair and transparent performance management system. That in fact, is just a prerequisite. These companies have a robust and institutionalized “talent review process.” This process measures potential through various lenses such as competencies, values as well as performance through various means such as 360 degree feedback, assessment centers, client feedback, engagement scores, and performance ratings. With all this data, the top leadership invests signifi cant effort and time to evaluate the talent in the organization. In fact this process is seen to be mission critical and thus the outcomes of the talent review process is an agenda item in the board of directors’ meetings.

3. Customized Learning Opportunity: Top Companies realize the individuality of its talent. They do not treat the talent pipeline as a single mass. They believe in growing and developing talent, one person at a time. Individuals are encouraged to develop on their strengths and are provided with accelerated, customized learning. One size does not fi t all for them. They have very heavy emphasis on one-on-one development interventions, such as exposure, coaching, mentoring, and action learning projects. In addition, leaders are being held accountable for the development of their talent more than ever and this metric has started showing up very frequently in the scorecard of executives in Top Companies.

4. Taking Top Talent Out of Their Comfort Zone: Top Companies believe in growing their top talent by providing them varied opportunities and encouraging them to take up new challenges outside their comfort zones. They believe in stretching their talent beyond their own boundaries.

5. Diversity of Thought: Eighty-four percent of the Top Companies formally work towardsincreasing the diversity of their leadership group as part of the leadership strategy. These organizations make conscious efforts to build an inclusive workplace by promoting cultural agility, global mindset and diverse backgrounds. They hire a broad spectrum of people, to ensure that they get the best and brightest talent in the entire population. In doing so, their employee population starts to mirror their customer base.

Top Companies For Leaders 2011 Study 8 Top Companies For Leaders 2011 Study 8

Building a Leadership Brand


Just as all organizations have a customer brand, there also exists a need for a leadership brand. A good customer brand leads to customer loyalty and attracts new customers; a good leadership brand helps retain current and future leaders and also attracts the “right” talent.

Our research shows that 100% of Top Companies for Leaders in Asia or Asia Pacifi c demonstrate a clear intent in building a strong leadership brand. These organizations invest time and effort to build a reputation of strong leadership. Top Companies leverage their brands to shape how people perceive, talk about, and respond to their organizations.

Views of CEO, Key Senior Leaders APAC Top APAC Others and HR Team Companies

Organization intentionally builds a 100% 71% reputation for strong leadership

Senior executives act as role models 95% 76% to support what we want to be known for by external stakeholders

Top Companies articulate their leadership brand as a set of desired tangible behaviors called the “Leadership DNA .“ This DNA is connected to the customer brand promise and stakeholder experience. These organizations focus on propagating these behaviors across all levels so that they are passed on from one generation to the next.


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Articulation of Leadership DNAThe articulation of the Leadership DNA goes beyond a generic competency model. It establishes a clear linkage to the customer brand and strategic priorities of the organization for the next –three to four years, thereby making it unique for every organization. Top Companies ensure that the leadership DNA is not only well articulated at every level of the organization, but also clearly understood by every employee in order to display essential behaviors necessary to deliver the brand promise.

The organization’s leadership DNA framework robustly encompasses high commitment for success, an entrepreneurial spirit, empowering & developing, customer delight, and a co-winning attitude. ~ An Executive at one of the Top Companies for Leaders

“Living the Brand”Once articulated, Top Companies enable an environment for their leaders to “live the brand” they propagate. They invest in various opportunities for senior leadership to act as brand ambassadors, both internally and externally.

The top leaders in these companies get involved in choosing their future leaders who display the required leadership DNA. The senior leadership devotes signifi cant time and effort in participating in various development initiatives in the organization to enable the emerging leaders to observe and imbibe the Leadership DNA from close quarters. Top Companies also encourage their leaders to focus on external visibility by participating in forums, conferences, universities thereby enabling impactful contribution at various levels, be it the market economy, talent market or society and community at large.

“Living the brand” results in increased retention and attraction of leaders in a very volatile and changing talent market. It establishes the uniqueness of the company in the Talent market. Top Companies understand that if there is a gap between the perception of an organization’s leadership brand and actual displayed behaviors, their reputation will defi nitely suffer. Therefore, it becomes extremely critical for leaders to conscientiously and continuously leverage on the available opportunities to live their brand.

Wherever I am…I am the walking brand of my organization – I'd better be doing what I want all my employees to be doing.

~ An Executive at one of the Top Companies for Leaders


Top Company Case

A leading Asian Technology company that serves more than 150 global Fortune 500 clients across fi ve continents has a clearly defi ned leadership DNA, which it considers the spirit of the organization. This leadership DNA is at the heart of all critical talent processes in the organization, including recruitment and orientation, performance and rewards, and learning and development. Some examples of its Leadership DNA are:

• Reward and Recognition Programs: The Chairman gives awards to a select set of employees who are seen to be living the Leadership DNAs at an annual award function at the end of every year.

• Recruitment Process: Leadership DNAs are used to assess suitability of the candidates for hiring. There are training programs held for interview techniques for new managers to ensure consistency. Leadership Quality (LQ) is measured one year after hiring to check if the hiring is in alignment to the required Leadership DNA.

• Talent Review Forum:A one page LQ Assessment (based on leadership DNA 360 degree) for each employee is provided to the Talent forums. The decisions with regards to exposure, movements, promotion etc, are taken based on this LQ assessment.

• Learning and Development:Leaders role model the leadership brand by conducting learning sessions with the emerging leaders in which they share their own growth journey, experiences, stories and leadership dilemmas.

• Mentoring: Each member of the management team mentors four emerging leaders. This helps the leaders propagate the Leadership DNA deep into the organization.

This ensures that every employee is well aligned to the desired leadership behaviors. As a consequence the Leadership Team consists of home grown leaders, who have been with the company for 10 to 15 years. The organization has a process in place to check the relevance of the leadership behaviors every 3 years to ensure they are in line with the current business strategy and market scenario. This review of Leadership DNA is seen as an extremely critical process and is spearheaded by the leadership team itself. This constant renewal has helped the organization to realign very quickly to changing customer and market requirements.



Unrelenting Focus on Talent

Assessment


““

In order to live the articulated leadership DNA, an organization needs to identify the right talent who not only live the brand but also pass on the legacy from one generation to another. With a deep commitment to identify and develop the best talent to run future businesses, Top Companies in Asia adopt robust and deep talent assessment processes as part of their high potential identifi cation.

Top Companies for Leaders study suggest that organizations adopt a comprehensive three-pronged approach for talent assessment:

Scouting for Talent: Talent Review ProcessAll of the Top Companies have a talent review process. This involves leaders across different levels working to review the performance and potential of each of the employees in the organization. The purpose of these forums is not limited to talent identifi cation but also to leverage strengths of their talent, cater to their aspirations, and create higher value for the organization and the individual. The outcome of these forums is development plans, customized learning opportunities, upwards, horizontal and vertical movements as well as identifi cation of high potential talent in the organization. These forums are not a one-time activity but are an ongoing annual exercise of review and course correction.

When I work with leaders I don’t just ask them about their work but also ask them about who their star [employees] are and what they are doing to retain them.


assessment across levels

robust talent assessment

talent review forum

multiple assessment

tools+ +=


While different organizations evaluate their employees on their own Leadership DNAs (or Leadership Competencies), our research found some themes on common behaviors that organizations assess their talent on across the region. The research fi ndings were that there are three key behaviors that are mostly common across the Asia Pacifi c. They are:

• Delivering Results

• Building Teams

• Managing Change

These competencies are especially relevant for the current and next generation of leaders as they mirror the change that business in Asia Pacifi c is going through. Companies in Asia Pacifi c need to start operating as global companies while continuing to keep an eye on their local markets. "Managing Change" has become important today, more than ever to deliver results and build teams across cultures, given the ambiguity and complexity in the business world. The commonalities and differences in the priority assigned to various competencies across Asia Pacifi c have been captured in the diagram below.

Representative Competencies Across Asia Pacifi c Countries

Top Companies believe in taking big risks with their top talent and thus it becomes extremely critical that the talent assessment is based on robust and multiple data points.

Deliver Results

Build Teams

Common Competencies Across Markets

Manage/Lead Change

China

Find and develop next-gen talentMeet growing demand for quality

leaders to run businesses

Communicate effectivelyGlobal outreach of leaders to

expand business

India

Create aligned directionManaging third level of

emerging leaders

Build positive work environmentAttract and retain high

performing talent

Australia & New Zealand

Create strategic tractionCascade strategic

focus across organization

Encourage networks and relationships

Building partnerships across businesses

South East Asia (SEA)

Create aligned directionManaging third level of

emerging leaders

Help people manage their careers

Ensure career growth and developement

Accountability & Meeting organization

objectives

Collaborative working style; nurturing trust; enhance cooperationChange the way

organizations work locally and abroad

* Japan: 73% of participating organizations do not have a clearly defi ned competency model


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Looking at Talent Through Multiple Lenses: 360 Degree Feedback and More

Top Companies Assess Talent Through Multiple Tools Beyond Performance Rating (eg. 360-degree feedback, competency assessment etc.)

Global Top Companies

Global Others

APAC Top Companies

APACOthers

86% 64% 80% 63%

In photography the same scene may be captured differently by different angles. Similarly, viewing talent holistically requires observations made from multiple perspectives. Top Companies recognize this and thus view their talent with various lenses: competencies, values as well as performance. Also, they use multiple tools such as 360-degree feedback, assessment centers, behavioral event interviews, job-related simulations, psychometric tests, customer feedback, team engagement score, and team retention rates. Some of the key tools used for competency assessment by Top Companies are listed below:

• 360-degree Feedback: Organizations realize that leadership, to a large extent, is about communication and perception. Thus it is very important to understand how a future leader is perceived by colleagues who work with him/her. It’s no surprise that almost all of the Top Companies rely on 360-degree feedback for their current and future leaders on the articulated leadership DNA. We do not observe the rest of the companies making an effective use of this tool.

• Assessment Centers (both internal and external): Assessment centers are a preferred tool for assessment as they provide a neutral point of view on behaviors.

• Job-related Simulations and Behavioral Event Interviews: These are conducted by internal/external experts and help explain the results of some of the feedback in greater detail.

• Psychological Tests: These tests are able to give insights into the personality makeup of the individual and thus indicate “right fi t” with regards to different jobs.

Top Companies not only assess their talent on performance and competences but put great emphasis on assessing employees on their values as well. Senior leaders communicate the importance of values to the employees, by exhibiting these values themselves.

If sticking to the values means growing a percentage or two slower than competitors, then so be it. In the leadership development process, values come before growth.



Emergence of a Third Pool

Top Companies are going deeper into their organizations to identify the emerging and young leader pool. Our extended research shows that this is indeed a new trend with far reaching consequences. In the early years of the Millennium, leadership development focused on creating effective senior management teams. In the middle of the last decade, organizations started working on accelerating development of mid-level leaders. Our current research shows that companies are now starting to invest in a third pool of leaders; identifying leaders early and grooming them for future roles.

Top Companies realize that innovation and creativity are critical while deploying methods and avenues for development for this new generation of future leaders. Most of these organizations have institutionalized a young leaders’ program where entry-level talent are exposed to key functions, verticals, and geographies to gain hands-on experience in key operations. The career aspirations of this young talent are tracked very closely and they are given continuous support and opportunities to build their careers in alignment with the growth of the organization. This practice is gaining prominence because it is deeply rooted in the leadership philosophy of “catching them young”.

Senior

Middle

Junior

Emergence of new leadership pool


Top Company Case

The talent assessment and review process at a leading Asian consumer organization is extremely comprehensive, robust, and integrated to other business processes. Its uniqueness lies in its scientifi c approach to assessing and measuring talent on multiple dimensions such as skills, leadership, processes, fi tment, diversity, and culture.

The review of talent is undertaken fi rst at the business unit level and subsequently cascaded upwards. This review includes discussion of each employee on several parameters which are part of their individual capability scorecard:

• Performance-potential grid positioning

• Coach-coachee feedback

• 360-degree feedback

• Performance for the last three years

• Mentor-mentee feedback

• High potential status

• Employee engagement score

• Career aspirations

The review also encompasses whether there is a risk related to succession or retention of the individual.

At the organization level, the metrics that are kept in mind are:

• Key talent-key role match (high potential talent take up key roles for maximum impact)

• High potential talent percentage

• Succession plan compliance

• Diversity

• Residence time compliance in roles (average time to spent in one role)

The continuous evaluation and measurement of these parameters enable business leaders to consider talent assessment & development as a way of doing business.



Customized Learning

Opportunity


““

As we see an evolution in the process of how organizations assess and identify talent, a similar evolution can also be seen in the way organizations develop their talent. Not too long ago, leadership development meant a once in a year event of two-to-three days during which the entire top and senior management came together and listened to lectures by leading gurus. No longer is that the way of leadership development. Just as engagement is created one person at a time, more and more companies are realizing that leadership development needs to be done one person at a time. The table below bears this out quite clearly. There is clear trend towards customization against off-the-shelf training in Top Companies.

As a leader, if I have an opportunity to grow, I must provide it to all my people by ensuring there is transparency in the processes laid down, customization, and making these not just a yearly ritual, but a part of life.


The comparison of the Winning Companies in 2009 and 2011 shows that there’s a signifi cant growth in use of individual focused one-on-one development processes such as coaching and mentoring in these organizations.

Top Companies Rely on Multiple Tools to Provide CustomizedLearning Opportunity

Top Companies Others

Customized Leadership Training 85% 64%External Customized Leadership Programs 75% 63%

Customized e-learning Programs Available Online 35% 17%

Leaders as Teachers 35% 23%

Percentage of Top Companies 2009 2011

Coaching 57% 87%

Mentoring 68% 95%

Action Learning Projects – 58%


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The details of some of these development processes are given in detail below:

Coaching Organizations use coaching as an effective approach for developing a workforce that is ready to meet the present and future needs of the organization. Our research shows that most of the Top Companies are looking into external or internal coaching as an effective tool for accelerated and customized learning. Coaching in these companies is not a tool to improve performance, but rather is only made available to extremely successful employees to gain specifi c competencies that will be key for future growth of the company and the individual.

MentoringTop Companies create formal mentoring programs within their organizations to groom their best performers and help them advance in their careers. Such programs help build a safe learning environment where employees feel free to discuss their career aspirations openly and honestly. Mentoring is also a great tool for building leadership DNA in the organization, which then becomes part of the leadership culture. "Reverse Mentoring" as a concept is also catching up and has been found to be prevalent in organizations which have a very well entrenched culture to build leaders in-house.

Action Learning Projects (ALP)With growing complexities in today’s business world, some Top Companies use action learning projects as a quick and powerful tool to develop and build their leaders. Companies choose these projects with great care and ensure that these are of great strategic importance to the company and are sponsored by one of the top business leaders.

Top talent is given a choice of being a part of one of these ALPs depending upon his/her development area. During the project the top talent not only hones his/her desired competencies but also builds stronger networks within the organization.

Surprisingly we do not see a predominance of ALP as a development tool in Top Companies. In fact only 58% of these companies use ALPs for development purpose. However, we believe that ALPs are a strong tool that customizes and accelerates learning for the talent in the organization. The signifi cance of ALPs increases when they are metric-driven and have the sponsorship of senior leaders or board members in the organization.

We ensure ‘accelerated learning’ to build new capabilities faster. Our action learning approach facilitates development of leadership qualities, skills, and strategic thinking by way of experience-based exercises.


Senior leaders in Top Companies induct their successors into their roles through formal coaching/mentoring program


Global Others

APAC Top Companies

APACOthers

92% 62% 74% 59%


Top Company Case

A Leading Asian conglomerate has an underlying philosophy that every employee has the potential of being a leader. Every individual has abundance of unique capabilities and potential, which are not fi xed and can be developed.

The organization, as a result of this belief, puts great emphasis on building a coaching culture within the organization. The Vice President and above participate in a three-tier program aimed at coaching all the employees in the organization. They are put through a 9-month course involving classroom and practice sessions before receiving certifi cation as a coach. There are also continuous coaching sessions to re-certify coaches at various levels to strengthen and reinforce this culture.

The leaders of this company spend 20% of the leadership development time on coaching as part of a larger pipeline building initiative. They consider it their responsibility to identify, build and nurture the future leaders of the organization.



Taking Top Talent Out of Their

Comfort Zone


The earlier section talked about the customized learning opportunities for top talent. Another thrust area for development of top talent in Top Companies is the philosophy of taking people out of their comfort zones. Senior leaders, in Top Companies, encourage their top talent to enter “unchartered territories.” They believe some amount of ignorance is needed for creative tension in the organization.

Our research suggests that twice as many Top Companies, when compared to the rest, enable movement of leaders across different functions, businesses, or geographies. The human resource team in these organizations works closely with their business leaders to design new talent movement opportunities across units.

Top Companies enable movement of leaders across different functions, businesses, or geographies


Global Others

APAC Top Companies

APACOthers

91% 45% 68% 35%

Top Companies follow two philosophies in order to take people out of their comfort zones. First, the organization has a huge appetite for taking risk with the top talent and second, they believe in providing varied experiences to their employees.

Taking Risk with Top TalentSenior leadership at Top Companies is willing to take risks with their top talent. The organization creates an environment where top talent, once identifi ed, is provided with challenging opportunities, even if they are not completely ready for it. This risk taking is counterbalanced through robust leadership processes:

• The assessment process to identify the top talent, as outlined in section 2 earlier, is deep and ruthless. A great amount of leadership effort and time goes into identifying high potential.

• Being a high potential is not a lifelong license - it is renewed on a periodic basis. Some people fall out of the pool and some others enter the pool based on performance and potential.

• The right fi t and potential career moves for the employees are identifi ed based on the strengths of the individuals years in advance.

• The organization then creates a process of grooming, guidance and preparation for the target roles.

This risk taking philosophy is an engrained feature of leadership development. Current leaders are a product of this and they propagate the same to create a pipeline of home grown leaders.


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“We bet on an internal talent currently ready or even 60% ready (9 out of 10 hires are internal). Just the fact that they have been identifi ed is such a motivation boost, and people strive extra hard to deliver on it.


Variety of ExperiencesOne of the questions we asked all the business leaders that we met during the course of the research was what contributed most in their own personal journey of developing as a leader. Each one of them mentioned “variety of experiences” as one of the most important aspects. Top Companies believe that people learn much faster when they are put in new areas and feel challenged. Top Companies create an environment in which leaders don’t hoard their top talent but seek out great opportunities for them. Leaders are held responsible for metrics such as job rotations and stretch assignments for their top talent.

This strategy is also seen to be instrumental in creating a well rounded leader who is not just adaptable, but also has the ability to look into the future, anticipate potential challenges, build mitigating strategies, and leverage a diverse workforce.



Top Company Case

A leading Asian bank believes in keeping its employees motivated and growing by providing a variety of experiences within the organization and outside as well. They provide employees various new opportunities which helps them develop new perspective and capabilities in numerous ways. Some of those are listed below:

• The organization targets the development of high potentials employees by offering them exposure to different businesses and markets.

• They engage talent in programs that partner them with not for profi t organizations. This helps them build community links and helps them refl ect on leadership and business challenges from a different perspective.

• This organization gives job enrichment to its employees through increased responsibility, greater width and variety in their jobs, which builds greater leadership capabilities within the organization.

Top Company Case

A leading Asian fi nancial fi rm’s CEO believes that the career path of its people is not just gathering functional expertise. He believes that leadership expertise can only be built by exposing leaders to a broad range of career growth experiences.

In order to formalize this philosophy, the organization has setup an internal mobility forum to enable movement of top talent across businesses, functions and geographies. High potentials that transition across divisions or functions are supported by their new direct manager who has the responsibility for their success. He/she coaches and mentors them for the new job.

The Board of Directors and Executive Committee monitor and support this initiative. According to HR, because of this support the company has not had a single failure for those non-obvious moves.



Diversity of Thought


Eighty fi ve percent of Top Companies in Asia Pacifi c have diversity as a core element of their overall leadership strategy. These organizations understand that diversity in a leadership team is about the differences and similarities that people bring to an organization, and leveraging the power of these differences and similarities to create positive business impact.

Top Companies formally work towards increasing the diversity of leadership group as part of the leadership strategy


Global Others

APAC Top Companies

APACOthers

100% 65% 85% 64%

Our research shows that organizations view diversity largely through three dimensions: Cultural agility, Global mindset, and Innovation. Top Companies strategically drive for cultural agility and global mindset in order to create diversity in workforce. Innovation is the fruit these companies then enjoy. The section below details these three dimensions:

innovation

cultural agility

global mindset

diverse workforce


Cultural AgilityGlobal multinational companies are enhancing their presence in the Asia Pacifi c region while more local Asian companies are entering emerging markets. Even those companies that are completely local are looking at foreign countries for sourcing raw materials or as potential markets. In all cases it is imperative that leaders, current and future, are culturally agile.

Cultural agility refers to a concept that organizations must create and sustain a culture that is accepting of individual differences. Top Companies achieve this cultural agility by building an inclusive workplace characterized by an amalgamation of different cultural backgrounds, ideas, perspectives and business experiences. It goes much beyond merely focusing on more women in leadership positions. These companies achieve this cultural agility by:

• Clearly defi ning the long term goals around diversity and inclusion;• Hiring right, year after year, to achieve the right mix;• Targeting learning and development interventions for underrepresented segments.

More than 55% of Top Companies measure diversity within their leadership pipeline as part of leadership effectiveness. The business leaders in these organizations set defi ned goals to enhance the cultural agility of their units through increased diversity in their leadership pipeline. Top Companies realize that doing so also enhances an organization's responsiveness to its different clusters of customers and increase the organization's ability to cope with the ever changing global environment.

Views of CEO, APAC Top APAC Key Senior Leaders and HR team Companies Others

Measure diversity within leadership pipeline as part of leadership effectiveness

Organization actively takes steps to increase female representation in leadership positions

55% 31%

59% 52%


““ ““

Global MindsetIn today’s interconnected world, the leaders need to have a global mindset irrespective of whether their business is local, regional or truly global. What happens in Europe has an impact in the Philippines and what happens in China impacts Mexico. Companies are realizing the need for their current and future leaders to be able to connect these seemingly unconnected dots. Thinking global is a mindset shift – going from concrete known space to ambiguous unknown scenarios.

Top companies are creating this mindset shift in a variety of ways:

• Stepping up their recruitment processes to hire talent from outside the home country • Giving global experiences to their managers through exchange programs, and transfers • Creating interaction forums with other companies (collaborators, vendors, and customers)

As the world becomes smaller, the interconnectivity between events that happen across the globe is increasing and hence you need people who have the intellectual bandwidth. A holistic approach is required.


InnovationThe above two dimensions of Diversity unleash creativity and the power of innovation in the workplace. Top Companies typically hire a broad spectrum of talent to develop a diverse leadership pipeline, which in turn mirrors their customer base. This helps an organization deliver on their customer promise, which further helps to deliver on their Leadership Brand.

Diversity in the workplace unleashes creativity and the power of innovation. ~ An Executive at one of the Top Companies for Leaders


Top Company Case

A group of companies have come together and created a Group Learning Forum of top talent from their organizations. A leadership development agenda has been created for the group and there are learning labs held to impart specifi c skills/competencies. This group is exposed to different organizations and learns their business, processes and culture. Top leaders from the participating organizations do story telling of their experiences to this high potential group. The exercise has been highly impactful in the providing cultural nuances, diverse experiences and creating global mindset in the participants.

Top Company Case

A large Global consumer organization operating in Asia, provides ‘Immersion’ courses to selected group of employees. These employees are made to visit external markets for 2 to 3 weeks to build a new perspective. In addition to gaining practical insights, formal courses are also organized to know and learn what is working well. Once back, they are expected to apply learnt best practices in their own market.

This exercise has been quite successful in making employees more culturally agile to the market trends and consumer behavior in other geographies.



Singular Focus on Execution:

The Overriding Differentiator

Top Companies for Leaders actively work on each of the above fi ve themes, but what really differentiates them from the rest is their singular focus on execution. Our research suggests that Top Companies adopt the following ways to effectively execute leadership development:

1. Integration of people practices to the business agendaTop Companies ensure successful execution through integrating their people practices into their business practices. These organizations make “Leadership” a focus of every business agenda across the organization globally. Each of their business meetings has an important leadership development agenda included as part of the schedule. The topics may vary with the calendar, one meeting may focus on talent reviews, while succession planning may be discussed at the next.

2. Clearly establishing and measuring successTop Companies not only defi ne their leadership priorities, but they also measure the success of their programs and people agenda. Ninety fi ve percent of Top Companies have specifi c metrics to evaluate the effectiveness of their leadership development process against only 55% in other organizations. The measures include: depth of leadership pipeline; coverage ratio; movement of talent; high potential attrition; and evaluation of learning programs. These organizations also measure how much time their managers, senior leaders, and the Board spend on talent related matters.

3. Rewarding leaders for key people behaviorsTop Companies for leaders ensure that their rewards structure incentivizes leaders to focus on building a leadership pipeline to meet future challenges. They do this through continuous measurement of their leadership benchstrength through multiple assessment tools. These organizations also include leadership development related outcomes and behaviors in their short and long-term incentive plans.

4. Leveraging commitment from leadershipFinally, Top Companies have strong commitment from their leadership at the highest levels. Since the talent development priorities are driven from the top, systematic execution becomes a reality. Our research suggests that in Top Companies, leadership development is not only a Top Leadership agenda, but is also a Board agenda. Individual top leaders drive specifi c development initiatives themselves.

Conclusion

Despite the paradoxical business realities of the region – of high growth and pressures of increasing competition, leadership remains a panacea for sustainable growth. It is also a diffi cult-to-replicate competitive edge for organizations.

Our research confi rms that leadership development is a unique experience for each organization, but the tools to make a success of the process remain the same. The companies that focus on building a robust leadership pipeline are better equipped to leverage the growth opportunities in the region. They also have a “killer app” of high-performing, adaptable leaders who can ride through the economic uncertainties better.

Thus, the leadership development teams in Asia Pacifi c have their work cut out for them: grow and attract high performers, build and engage leaders. Creating Asia Pacifi c’s best will no longer be enough, the region’s business heads and HR functions have to create the world’s best.

For a sneak preview into where your organization stands on the journey to being a Top Company for Leaders, we recommend you take fi ve minutes to fi ll out the Leadership Development Health Review questionnaire below. You may send the fi lled-in responses to your Aon Hewitt Relationship Manager and a copy to Ajay Soni ([email protected]).


Leadership Development Health Review

Score calculation: Add the points allocated for your response to all questions (e.g., Agree = 4; Strongly Agree = 5)

Evaluate your score:More than 40: Role models I 20 – 40: Making progress I Less than 20: Time to start now

My organization is widely known for strong leaders in the industry The leaders of my organization are exemplary fi gures acting as brand ambassadors to the employees My organization has strong emphasis on “building leaders from within” My organization employs fair, transparent and systematic tools to assess performance My organization employs fair, transparent and systematic tools to assess potential In my organization, the leaders get actively involved to assess and identify talent pipeline for the future In my organization, the leaders get actively involved to develop future leaders

The high potentials of my organization move into unrelated roles across products, markets, and functions Diversity (of thought or gender or nationality) among top leaders is considered important in my organization Talent development initiatives taken up by my organization are always successfully implemented and executed My organization has robust processes to enable growth and development for every individual

Question 1 Strongly 2 Disagree 3 Neutral 4 Agree 5 Strongly Disagree Agree


How the Top Companies

Were Selected

Aon Hewitt and our research partners, FORTUNE and The RBL Group, invited HR executives from around the world to participate in the Top Companies for Leaders study in early 2011. Study participation was open to organizations of any type (e.g., public, private, nonprofi t), size (employee and revenue), and location.

From those invitations, 478 companies from around the globe participated. Participating companies completed a detailed 72-item questionnaire examining the factors infl uencing both the depth and quality of leadership. Aon Hewitt analyzed all entries for responses consistent with strong leadership practices and identifi ed 182 global fi nalists. Each fi nalist company completed in-depth interviews to provide greater clarity and precision around their specifi c leadership practices. In addition to the HR and senior executive interviews, we interviewed CEOs in a majority of the fi nalist companies. Aon Hewitt scored company survey data by assigning points to questions and responses, yielding both category-specifi c and overall scores. In addition, Aon Hewitt screened all fi nalist companies for fi nancial performance relative to their industry.

An esteemed panel of judges—composed of authors, academics, and journalists—convened in each region to select and rank a 2011 Top Companies for Leaders list in Asia-Pacifi c, Europe, Latin America, and North America. The judges considered many variables in selecting and ranking the lists, including survey and interview data, company reputation, leadership programs and practices, culture and values, as well as business performance over a three year period. Finally, a separate panel of judges, composed of one representative from each regional panel, considered all regional Top Companies (57 in total) to select and rank the Global Top Companies for Leaders list. In addition to the Regional and Global Top Companies lists, the 2011 judges’ panels in North America, Latin America and Asia Pacifi c felt that there were a small number of companies that given the strength of their leadership practices today, deserved special recognition.

Eligibility for Regional and Global Top Companies ListsAll organizations were eligible to participate in the survey process. However, global organizations were eligible for the list only in the region in which they are headquartered. Subsidiaries of publicly traded companies were eligible for the list if they were publicly traded, separate from their parent company. Subsidiaries of non-publicly traded parent companies were eligible only if they had a separate board of directors.


Asia Pacifi c Panel of Judges

Dr. Arthur Yeung served as Chief Learning Offi cer and subsequently Chief HR Offi cer of Acer before his return to academia. At China Europe International Business School (CEIBS), his outstanding teaching has been repeatedly recognized through numerous awards like “Outstanding Teaching Award”, “Most Favorite EMBA Professor Award”, and the most prestigious “CEIBS Medal for Teaching Excellence”. He was the founding director of CEO Learning Consortium and also directs Center of Organizational and People Excellence (COPE) to research and benchmark best practices related to talent management and organizational effectiveness. Author of eight books and dozens of articles, Dr. Yeung’s research interests focus on building organizational capability for strategic implementation, creating unique value propositions for talent management, growing talent for business growth, and leading large-scale organizational transformation. He has received research awards from two leading human resource associations in the United States: Yoder-Heneman Personnel Research Award presented by the Society of Human Resource Management (1989) and Best Research Paper of the Year by the Human Resource Planning Society (1995). In 2002, he also received the Gold Book Award jointly presented by the Ministry of Economic Affairs and Chinese Management Association in Taiwan. Dr. Yeung also serves as Global Editor (Asia-Pacifi c) for Talent and Strategy Journal (USA), ex-associate editor and current editorial board member of Human Resource Management Journal (USA), editorial board member of Harvard Business Review (China), Human Relations Journal (USA), and Thunderbird International Business Review (USA).

Dr. John Zhuang Yang is the Dean of the Beijing International MBA Program at Peking University (BiMBA), Professor of Management at the National School of Development (NSD), Peking University, and tenured Professor of Management at the Fordham University Graduate School of Business. Dr. Yang’s main teaching, research and consulting interests involve fundamentals of management, human resource management, comparative and global Management, key success factors of MNC strategies and management in China, global leadership and organizational behavior. He has published several books and translated two books on leadership and management. He has also published many articles on management in leading academic and practitioner journals in the U.S. and in China.

Mr. Nripendra Misra is currently the Director of Public Interest Foundation, a Delhi-based non-profi t organization engaged in advocacy for concrete action to bring about necessary reforms with a view to maximizing public welfare. He is also an Independent Director in the Board of Usha Martin Industries Limited and Ginni Filaments Limited (the position of Independent Director is a non-functional Director position on the Board). Among the senior positions he held were Chairman, Telecom Regulatory Authority of India (TRAI), Secretary to Government of India responsible for Departments of Telecommunications, Fertilizers & Agricultural Input and Commerce, including World Trade Organization. He also served in Uttar Pradesh in the rank of Secretary in the Department of Finance, Taxation, and Commercial Taxes. His foreign assignment included Minister, Economic in the Indian Embassy in Washington, D.C. (USA) where he was responsible for relationships with multinational funding agencies and bilateral aid programs – World Bank and I.M.F. His other assignments were as consultant to the World Bank and Asian Development Bank. He has many publications in his name.

Dr. Pankaj Chandra is the Director at Indian Institute of Management, Bangalore. He has held senior academic positions at the Indian School of Business, Hyderabad, Indian Institute of Management, Ahmedabad and is also a visiting Professor for many top universities across the globe. His research areas include manufacturing management, supply chain coordination, building technological capabilities, and hi-tech entrepreneurship. Dr. Chandra has consulted for several national and international institutions such as World Bank, Washington D. C.; Department of Biotechnology, Govt. of India; NASSCOM, New Delhi; SEDF-IFC, Bangladesh; Venmar Ventilations, Drummondsville, Canada; Eicher Consulting, Mumbai; Torrent Pharma, Ahmedabad; Northern Telecom, St. Laurent, Canada, among others. He is a prolifi c author and has written numerous research papers for Indian and International journals.


Research Partners

About Aon Hewitt

Aon Hewitt is the global leader in human resource consulting and outsourcing solutions. The company partners with organizations to solve their most complex benefi ts, talent and related fi nancial challenges, and improve business performance. Aon Hewitt designs, implements, communicates, and administers a wide range of human capital, retirement, investment management, health care, compensation and talent management strategies. With more than 29,000 professionals in 90 countries, Aon Hewitt makes the world a better place to work for clients and their employees. For more information on Aon Hewitt, please visit www.aonhewitt.com/apac.

FORTUNE is a global leader in business journalism known for its unrivaled access to industry leaders and decision makers. Founded in 1930, FORTUNE magazine has a worldwide circulation of more than one million and a readership of nearly fi ve million and is home to some of the strongest business franchises, including FORTUNE 500, FORTUNE 100 Best Companies to Work For, the World’s Most Admired Companies, Fastest Growing Companies, and Most Powerful Women. FORTUNE Live Media extends the brand’s mission into live settings, hosting a wide range of annual conferences for top-level executives, including the FORTUNE Global Forum and the Most Powerful Women Summit. FORTUNE magazine’s online home is www.CNNMoney.com, the most visited and utilized business destination web site, attracting nearly 10 million unique visitors per month, according to Nielsen/NetRatings. FORTUNE, along with MONEY and CNNMoney.com, is part of The FORTUNE Money Group, a division of Time Inc., a subsidiary of Time Warner, a leading media and entertainment company.

The RBL Group is a strategic HR and leadership systems advisory fi rm. For over 25 years, its principals have collaborated with leading global organizations to strategically align corporate and business strategy to ensure sustainable high performance through the integration of theory, applied research, and practice. The RBL Group has trained and redesigned some of the best-managed companies in the world, helping them achieve signifi cant improvements in bottom-line results. It is recognized internationally for innovative research and publications on leadership, intangible assets, and strategic HR, including hundreds of articles, more than 400,000 books sold, numerous industry awards, and recognition as outstanding educators and advisors by leading business publications.


Becoming a Top Company

for Leaders

Aon Hewitt Top Companies for Leaders Study Reports, Info-share and Strategy Sessions

Benchmark Options.

Select one:

A. Top Companies for Leaders (TCFL) 2011 Benchmark Report Only

You will receive a comprehensive comparison of your company’s 2011 benchmark survey submission against the Top Companies for Leaders benchmark comparison group(s) of your choice on over 800 data points; highlighting external best practices and recommended priorities for action. Comparison groups include: Global Top Companies, Asia Pacifi c Top Companies, Europe Top Companies, Latin America Top Companies, and North America Top Companies. A number of Industry group comparisons are also available. Please note, a standard benchmark includes only one comparison group.

Activities: 1 preparation callOutputs: 1 PDF copy and 4 bound, color copies of the TCFL 2011 Benchmark Report

B. Top Companies for Leaders Debrief and 2011 Benchmark Report

Includes a two-hour debrief discussion with your company following delivery of benchmarking report providing a detailed review of your company's strengths and opportunities based on the report, as compared to the comparison group(s) of your choice (i.e., North American Top Companies vs. all other North American participants), and suggested actions to take.

Activities: 1 preparation call, two-hour debrief meeting Outputs: Meeting materials, TCFL 2011 Benchmark Report as outlined in Option A against one comparison group

C. Leadership Strategy Meeting (one full day) and Top Companies

for Leaders 2011 Benchmark Report

Involves a full-day strategy meeting with your company to discuss and determine highest priority items to improve leadership practices based on Aon Hewitt insights and best practices. Included in this meeting is how your company compares to Top Companies in highest priority leadership practices, as well as an overview of external leading practices and trends. The strategy session also includes discussions surrounding prioritization and actionable next steps.

Activities: 2 preparation calls, full-day facilitated meetingOutputs: Meeting materials, TCFL 2011 Benchmark Report as outlined in Option A against one comparison group


Top Companies for Leaders

Project Team

Ajay Soni Shelli GreensladeLeadership Consulting Practice Leader - Asia Pacifi c Global Project Lead, 2011 Top [email protected] Companies for Leaders [email protected] & New Zealand

Mollie KohnLeadership Consulting Practice [email protected]

Greater China

Wells TianLeadership Consulting Practice [email protected]

India

Radhika GopalkrishnanLeadership Consulting Practice [email protected]

Japan

Izuho ShiojiriDirector Global Strategy Consulting [email protected]

Korea

James KimLeadership Consulting Practice [email protected]

Southeast Asia

Kulshaan SinghLeadership Consulting Practice [email protected]

For more information on Aon Hewitt’s leadership consulting services, please visit www.aon.com/topcompanies

We look forward to your feedback, comments and suggestions on the report -

Richard Payne (Rick)Talent & Rewards Practice Leader - Asia Pacifi c [email protected]

Ajay SoniLeadership Consulting Practice Leader - Asia Pacifi [email protected]

Gitansh MalikLeadership Consultant - [email protected]

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aonhewitt.com/apac

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No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any way or by any means, including photocopying or recording, without the written permission of the copyright holder, application for which should be addressed to the copyright holder.

Job Code No.: 00009-RP

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Aon Hewitt’s Pre hire assessments provide the following benefi ts:

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We invite you to join our cross industry Selection & Assessment Consortium Study and participate in an opportunity to create an industry validated assessment. The outcome of the Consortium Study will be 3 assessments targeted at the following population:

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Top Companies for Leaders 2011 Study · 2016-09-07 · various means such as 360 degree feedback,...

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