090915_Succession Matters for Your Future Workforce

7/24/2019 090915_Succession Matters for Your Future Workforce

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HCI #HCIwebcast

Succession Matters for YourFuture Workforce


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HCI #HCIwebcast

Todays Moderator

@AndyWebcast

Andrew Bateman
https://twitter.com/AndyWebcasthttps://www.facebook.com/humancapitalhttp://www.linkedin.com/company/human-capital-institute-hcihttps://twitter.com/Human_Capitalhttps://twitter.com/AndyWebcasthttps://twitter.com/AndyWebcast


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HCI #HCIwebcast

THANK YOUwww.kornferry.com


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HCI #HCIwebcast

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For a PDF copyof the slides usedduring thiswebcast


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2015 Korn Ferry. ALL RIGHTS RESERVED.

Succession Matters for yourFuture Workforce

HCI webcast

September 9, 2015


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Korn Ferry 2015. ALL RIGHTS RESERVED. 5

Our speakers

James Peters

Senior Partner, Global Lead

for Succession Management,

Korn Ferry

Ronny Vansteenkiste

Senior Vice President, Group

Head Talent Management and

Organizational Development,

Willis Group Holdings


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What does One have to do with succession?

One is the loneliest number that youll ever do

Two can be as bad as oneIts the loneliest number since the number one

Succession management should offer line executives choicesideally three.


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Our agenda

Three questions to drive succession.

Identification of potential.

Right leadership capabilities.

1

2

3


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What the

research says


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Succession Matters key findings

Korn Ferry Succession Matters survey, 2014.

Dissatisfaction with the status quo.1

Too much talent bought not built.

2

Succession planning does not go deep enough.3

Confusion about potential vs. performance.4

Not enough ready now talent.5


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The perception of succession programs


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Build vs. buy


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Depth of succession management programs


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How potential is being measured


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Potential for key roles


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To build the necessary talent capabilities, organizations

need effective succession and talent management

What leadershiptalent do we need?

What leadershiptalent do we have?

How do we closethe gaps?

Increased value to the organization.


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What talent do you need?

Answer:

Align talent and business

strategies.

Prioritize criticalroles andtalent pools.

Create success profiles.


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What talent do you have?

Answer:

Assess your talent for

current and future

capabilities. Review and segment

your talent.

Drive decision making on

talent deployment throughtalent analytics.


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How do you close the gaps?

Answer:

Build: Throughdevelopment of individualsand talent pools.

Buy: By benchmarkingand attracting externaltalent.

Deploy: Ensure that keytalent is at the right placeat the right time.


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Do we have the

leadership talent we needto execute our strategy?

Who do we promoteor select?

Who has leadershippotential?

What is our leadership

bench strength?

Where is my talent?

How do the groups in myorganization differ?

How does my talentcompare to my

competitors?

Using analytics to inform better talent decisions

Where should we invest

in development? How should we focus our

recruiting?

How does my talentcompare to mycompetitors?

What does great

look like? In our industry

Most innovative companies

For our strategy


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Leveraging comparative analytics

Talent and business

strategies.

Group comparisons

and benchmarking.

Predicting outcomes

and impact.


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Talent and business strategies

What talent is needed for innovation strategy?

Korn Ferry Four Dimensions of Leadership and Talent (KF4D)


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Talent and business strategies

Do we have the talent we need? Where should we invest in development?


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Multiple group comparisons and benchmarking

Where is my talent? How do my organizations groups differ?


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Multiple group comparisons and benchmarking

How does my talent compare to competitors?

Client XYZ Competitors


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Predicting outcomes and impact

Organizations that use data for development outperform those who dont.

Source: Aberdeen 2011 Survey: Follow-up after high stakes assessment impacts results.


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Predicting outcomes and impact

Correlating assessment and outcome data gives insight into performance drivers.


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An individuals capacity

and interest to develop the

qualities required for

effective performance in a

significantly more

challenging leadership role.

Leadership potential


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Seven signposts

Experience

Learning agility

Leadership traits

Drivers

Awareness

Capacity

Derailment risksManagedderailment risks.

Aptitude forlogic andreasoning.

Self-awareness ofstrengths anddevelopmentalneeds.

The drive andmotivation toserve as aleader.

Leadershiptraits associated

with advancement.

The ability to

learn fromexperience.

A track recordof formative

experiences.


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Performance and potential matrix summary

H

L

M

M H

Potential

Performance(ove

rtime)

A valuable tracking tool

that is useful for

differentiating talent and

managing human

capital.

Its not enough to

differentiate in

assessmentyou must

apply differentialdevelopment!


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Talent calibration: performance and potentialA research-based, validated, and repeatable process that provides a clear view of your talentplaced into 9 cells, with associated development plans unique to their cell placement.

Benefits to the organization

Develops the ability within yourleaders to objectively and

accurately assess performanceand potential.

Emphasizes the creation ofpragmatic and meaningful

development assignments.

Reinforces a culture where

talent and potential are valued. Leaders learn how to have

discussions about talent and

how to take action to develop it.


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Is potentialimmutable?


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Is potential immutable?

Michael Oher


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On leadership potential

Leadership potential is mutable it can be developed.

Assessing leadership potential allows you to determinealtitude, velocity, and path.

Being a high potential is not forever potential can and does change.

Being a high potential is a responsibility and not a right.

Leadership potential is about the high potentials and the high professionals.

Companies over focus their attention on high potentials.


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The right leadership capabilities

The Einstein quadrant.


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With roots dating to 1828, Willis operates today on every continent, with more than 18,000employees in over 400 offices.

Across geographies, industries and specialties, Willis provides its local and multinationalclients with resilience for a risky world.

Willis is known for its market-leading products and professional services in risk managementand risk transfer.

Willis experts rank among the worlds leading authorities on analytics, modelling andmitigation strategies at the intersection of global commerce and extreme events.

Leading global risk advisor, insurance and reinsurance broker.

WillisGlobalFranchise

Willis Subsidiaries and Associates

2014 Commissions and Fees by Segment

2014 C&F: $3.8 billion

NorthAmerica

38%

International29%

Global

33%


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Focusing on subject matter experts...

Nature of your businessa high-potential or a high-professional

organization.

Talent management is more than high-potential development.

Many of the most critical roles require deep mastery.

Have known this since the Renaissancemaster crafters and explorers.

The last decade has called for a more balanced view on talent.

Increasing emphasis on big data and analytics calls for deep specialization.

Increasing requirement for true top performers who are also true masters.

Talent management too often too concentrated at top of the organization.

Succession management does not go deep enough.

As you go deeper, you deal with more craftmanship.

Some are in most important leadership positions.

Hence focus on the Einstein quadrant keepers of your core competence.


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Mastery or learning agility?

Going deep vs. going broad.

Recognized functional, technical expert: unique

knowledge, skill and expertise which is rare, and

therefore difficult to replace or buy.

Know curent job extremely well so can be counted

on, especially in tough times.

Superior performers year after year.

Work independently with little or no supervision.

Love wht they do, may not aspire to broader

management.

Have depth of organisational knowledge.

Excellent at developing people.

Trusted resources within the organisation.

Hate to lose as difficult to replace in kind.

Widely recognised outside the company.

Easily learns and applies new ways, new

technologies, and new functions.

Clever problem solvers.

Think strategically.

Perform well under new, tough conditions.

Change behaviour or approach easily.

Have wide interests (highly curious).

Deal well with ambiguity & complexity.

Promotable outside their areas, especially into

general management and senior leader roles.

Like to try different approaches.

Impatient, dont accept the status quo, therefore

sometimes low tolerance for marginal processes or

behavior of people.

Both are considered consistently high performers in their given context.

Depth: High mastery,high professional

Breadth: High learning agility,high potential


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Top experts in their field, expertise area, and professional services.

Our global growth capabilitiesall mastersto create competitiveadvantage.

Risk analytics.

Global client advocates.

Placement specialists. Industry specialists.

Shift from traditional insurance broker to the risk advisor.

The analytical broker.

The (global) client advocate.

Deep dive in the sales function. Field sales leaders.

The farmers vs. the hunters.

examples


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Any questions? kornferry.com/contact-us

James Peters

Senior Partner, Global Lead

for Succession Management,

Korn Ferry

Ronny Vansteenkiste

Senior Vice President, Group

Head Talent Management and

Organizational Development,

Willis Group Holdings
http://www.kornferry.com/contact-ushttp://www.kornferry.com/contact-ushttp://www.kornferry.com/contact-ushttp://www.kornferry.com/contact-us


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