dr martin factor - meeting tomorrow’s business challenges: global leadership forecast 2014/2015
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© Development Dimensions Int’l, Inc., MMXIV. All rights reserved. 1
Global Leadership Forecast 2014|2015
Ready-Now Leaders: Meeting Tomorrow’s Business Challenges
Why Are We In the Dark?
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Going Nowhere Fast
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$50 Billion/ year Spent on Leadership Development
Worldwide
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Africa Middle East 2%
7th and Largest Study so Far Since 1999
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Keeping CEOs Up at Night
Human Capital Customer Relationships
Innovation Operational Excellence
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Leaders who are very prepared to meet these challenges.
27% HR 9%
45%
26% 33%
CEOs Rank Top Four Challenges1
Sources: 1The Conference Board, 2014; 2 Self-reported leader readiness to address these challenges; Global Leadership Forecast 2014|2015
Quality of Leadership
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40% 2014
Leader Rating
38% 2011 37%
2009
25% 2014
25% 2011
HR Rating
46%
Critical Positions That Can Be Immediately Filled
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18% 2011 15%
2014
Ready-Now Leaders for the Future
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Why the Leadership Quality Deficit? 1. Business Context is Volatile, Uncertain, Ambiguous &Complex2. Frenetic Pace with Attention Deficit and overstimulation (not to
mention caffeine) in an universe of information overload3. Wrong people identified to lead4. Development content not relevant to Business Context5. HiPo Pools don’t have right focus, correct size, resources, and
support to ensure their success6. Learning is not blended and in the correct ratio for it to be
integrated and seamless7. Managers don’t provide dev. Support during skill acquisition
and Practice8. Insufficient time for application, reflection, and feedback
(harvesting eggs without taking care of the chicken!)
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Outcomes That Count
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Leader Perceptions of Effectiveness/Quality of leadership development programs
Leader level of engagement and retention
Current quality, future bench strength
Composite financials: profitability, earnings per share, 5-year rate of return to investors, and stockholder equity
SO WHAT ?
What Happens When You Get It Right?
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+ 4x
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Financial Impact
4.4x
11x
2014 2014 SO WHAT ?
+ 6x
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Financial Impact
7.4x
8.8x
2011 2014 SO WHAT ?
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5 Key Insights
1
HOW LEADERS DEVELOP
2
ENGENDERING DIVERSITY
3
THE HI-PO TALENT POOL
4 5
SOFT SKILLS EQUAL
HARD IMPACT
THE {new} ROLE OF HR
THE {new} ROLE OF HR
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What Role Do HR Think They Play? Ratings by those in HR:
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• Develops and administrates policy
• Ensures compliance • Source of HR expertise
when asked
Reactor Partner
• Embedded in business • Resolves talent issues • Supports rollout of talent
management initiatives
22% 60%
HR
Partner
• Embedded in business • Resolves talent issues • Supports rollout of talent
management initiatives
60%
What Role Does HR Play?
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• Develops and administrates policy
• Ensures compliance • Source of HR expertise
when asked
Reactor 22% Anticipator
• Align talent capabilities with business strategy
• End-to-end talent management architecture
• Interpret talent trends and translate into opportunities
18%
HR
Talent Planning Intersection with Strategic Planning
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STRATEGIC PLANNING PROCESS
Early/Strong Connection
Moderate/Late Connection
Weak/No Connection
5% Reactor 26% Partner 43% Anticipator
HR
Talent early links to Strategy Boosts Financial Performance
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Bottom 20%
6.2x
Top 20%
SO WHAT ?
Then We Asked Senior Leaders What They Thought of HR…
22%
18%
43%
37%
20%
…While Most Partners Over-Estimated, Anticipators Were Much More Accurate in Rating Themselves as Senior
Leaders Did
60%
Reactor
Partner
Anticipator
Reactor
Partner
Anticipator “Relevant”
Key Attributes of Anticipators
1. Possess strong Strategic Business Acumen; Students of the Business
2. Creativity and innovation as top skills 3. View Learning as a journey 4. Ensure Managers accountable for developing leaders 5. Advanced analytics 6. Accommodate geographical and cultural differences
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NOW WHAT !
HR
As a Result: More ready to meet CEO human capital challenge!!!
How Leaders Develop
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70 : 20 : 10 Myth Meets Reality
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70 : 20 : 10 On-the-Job Learning
(developmental assignments, special projects, task forces)
Learning from Others
(coaching by managers/mentors, shadowing others,
networking)
Formal Learning
(training courses, books/articles,
diagnostic assessments)
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Leadership Development Mix
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Leadership Development Mix
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WHAT NOW #
Leadership Development Mix
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SO WHAT ? Isolated companies whose leaders rated their LD programs as having highest quality
Top Barriers to Learning Make the Job more like the course and the course more like the job!!!!!
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NOW WHAT !
Informal Learning Formal
Learning
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Organizations Using Learning Journeys Are:
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Bottom 20%
2.5x
Top 20%
3.4X 2.9X
SO WHAT ?
How Leaders Develop Engendering Diversity
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• Women in senior management: 24% in 2007, 24% in 2013*
• Women in Fortune 500 CEO positions: 14.4 percent in 2010, 14.6 percent in 2013*
• Wage gap has not closed in 15 years; Women expect to make less
*Sources: 1Grant Thornton International Business Report; 2*Catalyst Statistical Overview of Women in the Workplace
Skill Gap Fallacy
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Skill Gap Fallacy
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WHAT NOW #
• More International Assignments
Where Are the Gaps?
• More Confident
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WHAT NOW #
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SO WHAT ?
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SO WHAT ?
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The Hi-Po Talent Pool
66% HAVE HI-PO PROGRAMS
74% NOT VERY EFFECTIVE
WHAT NOW #
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Drivers of Hi-Po Program Quality Rank Ordered
1. Objective assessment data on hi-po’s capability/potential
2. Mentoring/coaching program for hi-pos
3. Performance in developmental assignments is carefully evaluated
4. Measure hi-po program effectiveness
5. Identities of hi-pos revealed to organization
6. Includes all levels of leadership for hi-po programs not just senior managers
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High-Potential Management
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We measure the effectiveness of programs for developing high-potential leaders.
We have a mentoring/coaching program for high-potential leaders.
We collect objective assessment data on high-potentials’ capabilities, potential, and readiness.
Senior management is held accountable for identifying and developing high-potential leaders.
Percentage of Organizations Responding “TRUE”
IMPACT on Development
Viewed by High Potentials
47%
55%
77%
84% WHAT NOW #
HR
Most common practices are not the ones where HI PO’s see the most value
Organizations With Hi-Po Programs Are:
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4.4X 4.9X
Bottom 20%
3.6x
Top 20%
SO WHAT ?
Analytics: From Sight to Foresight
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Human Capital Analytics
19 out of 22 CEO Talent Strategies,
Conference Board 2013
#1 CEO HOT Button BIG DATA
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Analytics Use and Effectiveness
Benchmarking externally
Gathering business impact metrics
Data to design/optimize TM programs
Using data to forecast future talent needs
Gathering results metrics
Benchmarking internally
Gathering efficiency/reactions metrics
Not done at all Done effectively
66% 13%
49% 21%
46% 22%
45% 23%
44% 24%
43% 27%
38% 30%
47% DO
NOTHING/ INEFFECTIVE
5% DO IT
ALL WELL
WHAT NOW #
51 HR © Development Dimensions Int’l, Inc., MMXIV. All rights reserved.
Analytics Use and Effectiveness
Benchmarking externally
Gathering business impact metrics
Data to design/optimize TM programs
Using data to forecast future talent needs
Gathering results metrics
Benchmarking internally
Gathering efficiency/reactions metrics
Not done at all Done effectively
WHAT NOW #
66% 13%
49% 21%
46% 22%
45% 23%
44% 24%
43% 27%
38% 30%
© Development Dimensions Int’l, Inc., MMXIV. All rights reserved. 52 HR
Impact of Leadership Analytics
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NOW WHAT !
HR
30%
27%
Impact of Leadership Analytics
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NOW WHAT !
27%
24%
23%
21%
30%
Used Less but have a stronger Financial Impact
SOFT SKILLS EQUAL HARD IMPACT
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Time Spent Interacting vs. Managing
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Preferred Time Interacting vs. Managing
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WHAT NOW #
Asked Leaders What their Organizations Value
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WHAT NOW #
“Managing is a big part of my time—
coaching and team development needs
equal attention”
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“Provide more time for one-on-one
interaction versus just focusing on daily tasks”
“Decrease focus on managing
tasks and increase importance placed
on managing people”
Organizations That Value Interacting Benefit
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2.0X 3.5X
Bottom 20%
2.0x
Top 20%
SO WHAT ? It’s impossible to increase Employee
Engagement without ENGAGING!
Key Takeaways � Anticipate where your organization is going� Identify the right people to lead� If developing HiPo Pools, ensure you have focus, correct
size, resources, and nurture these seeds� Ensure the Relevance of the development content to the
Business Context� Blend learning in the correct ratio so its integrated and
seamless� Ensure Managers provide dev. Support during skill
acquisition and Practice� Provide time for application, reflection, and feedback� Measure the right things in the right measure
© Development Dimensions Int’l, Inc., MMXIV. All rights reserved. 62
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