surviving the “retirement wave”—lessons learned in preparing the next generation of finance...
TRANSCRIPT
Surviving the “Retirement Wave”—Lessons Learned in
Preparing the Next Generation of Finance Directors
CSMFO Annual Conference
San Francisco
February 18, 2009
Dr. Frank Benest
Palo Alto, CA
(650) 444-6261
Let’s Start with 2 Questions:
1. In the minds of line employees and support staff, what are the images of the work of senior management?
2. From your perspective, what are the rewards, benefits, and joys of senior management?
Overview
Demographic Crisis for Local Government Focusing on Talent Development Importance of People Skills Succession Planning Obstacles Ten Lessons Learned Resources and Questions
The Demographic Crisis
• The Numbers80 million Baby Boomers (1946-1964) leaving
economy50 million Gen Xers (1965-1981) replacing
them
• Large “Talent Replacement Gaps”
Age Distribution of Gov. &Private Sector Workers – 2001
0
5
10
15
20
25
30
<25 25-34 35-44 45-54 55-64 65+
Gov.Private
City of Palo AltoOrganization Chart
City Manager
Asst City Mgr
Asst to the CM
Asst to the CMExec Asst to CM
Office Specialist
Public Comm Mgr
Office Specialist - Reception Desk
Administrative Asst
Director, CSD (#
Director, ASD
Director Libraries
Fire Chief
Dir Human Res
Dir Pln/Com Envn
Dir PW/Cty Eng
Director Utilities
Police Chief
City Manager’s Office
City of Palo AltoOrganization Chart
City of Palo Alto’s “Retirement Wave”
50% of Management and Professional Employees are eligible to retire in three years
35% say they will definitely retire
Talent Development
The GoalsCreate “leader-full” organizationDevelop a pool of talent able and ready to
step into leadership positions at top levels and throughout organization
Talent Development
Historic ViewTalent Development = classroom training
Contemporary ViewTalent Development = series of “stretching” job experiences coupled with helpful and candid coaching
The Importance of People Skills
Top Mgmt
Mid Mgmt
An
alytic SkillsTechn
ical Skills
Peo
ple S
killsLower Mgmt
80 percent of management failure is related to poor people skills
Technical S
kills
Peo
ple S
kills
Succession Planning--Key Steps--
1. Identify key talent2. Assess readiness to advance3. Offer array of development opportunities
Examples: Cal-ICMA Coaching Program
Management Talent Exchange Program Action Learning Teams Interim or Special Assignments
4. Create development plans5. Monitor progress
“What are the barriers in my organization to undertaking an
effective talent development and succession planning effort?”
Barriers
•Early retirement•Few monetary incentives to move up•No one perceives rewards and joys of leadership•“Quiet Crisis”•Talent development is not a primary responsibility of senior managers•Management is overwhelmed with “adminis-trivia”•Few leadership development and coaching programs to support succession planning•Over emphasis on technical training and knowledge
Ten Lessons Learned
1. Ensure leadership from top
2. Make “talent development” a primary responsibility of senior managers
3. Target efforts but make development opportunities available to all
4. Integrate “growing leaders” into strategic plan
5. Go beyond classroom training to provide job experiences that stretch aspiring leaders
Ten Lessons Learned (con’t)
6. Provide array of opportunities
7. Align all organization systems
8. Partner with governing board and unions
9. Place responsibility on employee
10.Allow mistakes
Resources Cal-ICMA Coaching Program
www.cal-icma.org
Municipal Management Associations and/or International City/County Management Associationwww.mmanc.org or www.mmasc.org www.icma.org
Management Talent Exchange Program www.cityofpaloalto.org/mtep
Contact Frank Benest at [email protected]
and request:
Case Study: Palo Alto’s “Growing Our Successors” Initiative
• Questions?
• Perplexing Issues?
• Concerns?
Thank you!www.frankbenest.com