© 2014 Halogen Software Inc. Confidential – Not to be used, copied or redistributed without Halogen’s prior written permission.Strategic Talent Management 1
Developing LeadersBeyond the Boardroom
Sponsored by
© 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 BownessSolutions ConsultantHalogen Software
Catherine CormierProduct ManagerHalogen Software
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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
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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 disconnect86% 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’
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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)
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A generational shift10K 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
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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?
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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?
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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.
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Growing your own leaders pays off
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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% AnticipatorUses data to predict talent gaps in advance; provides insights about how talent relates to business goals.
60% PartnerOpenly exchanges information with the business about current issues; collaboratively works towards mutual goals.
22% ReactorEnsures compliance with policies/practices; responds to business needs by providing tools/systems when asked.
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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
Keep
up
Out‐perform
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Leadership development as part of succession planning…
Identification
Assessment
Development
Management
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Identification
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Dimension 1: identification
Identification of succession planning needs, linking needs to goals, and linking goals to strategic vision
Identification
49% Average Rating: 49% (FAIL)
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Dimension 1: identification Identification
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Identification
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Identification
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Dimension 1: identification Identification
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Assessment
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Assessment
Using the identification elements to assess needs and individual/department promotion potential
47% Average Rating: 47% (FAIL)
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Assessment
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Assessment
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Assessment
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Assessment
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Development
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Development
Working with individuals to shrink the development gaps, and moving forward to help each area develop talent pools
49% Average Rating: 49% (FAIL)
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What motivates employees
Source: DDI Global Leadership Forecast 2014|2015
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DevelopmentDevelop a plan for closing development gaps
Goal
Formal
Informal
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1:1 Exchange
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Development plan report
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Prepare for future responsibilityUse feedback tools for ongoing input
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Prepare for future responsibilityOffer job aids to reinforce new skills
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Provide great coaching and management tools
Prepare for future responsibility
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Measurement
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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
47% Average Rating: 47% (FAIL)
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Management
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Management
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Management
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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
developmentanalysis
repeat
Strategic Talent Management 44© 2015 Halogen Software Inc. Confidential – Not to be used, copied or redistributed without Halogen’s prior written permission.
Questions?
Anita BownessSolutions ConsultantHalogen Software
Catherine CormierProduct ManagerHalogen Software
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Download your own copy …
www.halogensoftware.com/learn
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Contact Information
Julie HarrisonProduct Marketing Manager
Anita BownessSolutions Consultant
Catherine CormierProduct Manager
Thank You!
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