GameChangingTalentStrategy:! From!Inspira8on!to!Implementa8on!cdn.executive.mit.edu/01/...game-changing-organization-webinar-slid… · Phase 1 Building vision, strategies, brands…

Game-‐Changing Talent Strategy: From Inspira8on to Implementa8on

Presented by Dr. Douglas Ready

MIT Sloan Senior Lecturer at MIT Sloan

Moderated by Dr. Peter Hirst

Execu3ve Director, MIT Sloan Execu3ve Educa3on

September 25, 2014

MIT Sloan Executive Education Webinar –

http://executive.mit.edu Twitter: #MITWEBINAR

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MIT Sloan Execu3ve Educa3on, Douglas Ready, and his course: Building Game-‐Changing Organiza4ons: Aligning Purpose, Performance, and People

MIT Sloan Execu3ve Educa3on Webinar – hIp://execu3ve.mit.edu TwiIer: #MITWEBINAR

ABOUT Dr. Douglas

Ready

•  Senior Lecturer in Organiza3on Effec3veness at the MIT Sloan School of Management

•  His research has led to the popular concept of implemen3ng a company's Collec3ve Ambi3on and also focuses on strategic talent management and enterprise-‐wide change

•  Authored numerous highly popular Harvard Business Review and Sloan Management Review ar3cles

•  Founder and President of the Interna3onal Consor3um for Execu3ve Development Research (ICEDR), an interna3onally renowned collabora3ve in talent management and leadership development, comprised of many of the world's leading companies and business schools

•  Led major change and leadership development ini3a3ves for: Con3nental AG, Ford Motor Company, Four Seasons, Hess Oil, HSBC, LG Group, PwC, Royal Bank of Canada, Samsung Group, and United Technologies Corpora3on

•  In 2013, Dr. Ready was named to the Thinkers50 list, a global ranking of the world's leading management thinkers

•  Ready holds a BA from the University of MassachuseIs, Amherst; a Masters from Harvard University’s Kennedy School of Government; and the PhD from the Cranfield School of Management in the UK


© Doug Ready

Game-Changing Organizations…

• Stand out • Think differently • Beyond value creators • Craft a “special place”

Strategic and Operational Priorities

Bold Driving Vision

Values/ Principles

Brand

Driving Performance

Creating Climate Purpose

The Story? Your Path to Becoming a Game-Changer

© Douglas A. Ready 2014

© Doug Ready

What are the hallmarks or distinguishing characteristics of a

Game-Changing Organization?

Easier said than done!

Why is it so difficult to build these capabilities simultaneously?

•  purpose-‐driven •  performance-‐oriented •  principles-‐led

Game-changing companies are…


from McKinsey Global Survey Building organizational capabilities 2010


The Enterprise Leader’s Job: Building the Capabilities to Move from

Inspiration to Implementation

“Nearly 60 percent of respondents to a recent McKinsey survey say that building organizational capabilities such as lean operations or project or talent management is a top-three priority for their companies. Yet only a third of companies actually focus their [development] programs on building the capability that adds the most value to their companies’ business performance.”

Why?

Collective Ambition Audit

Statement Rating (1 = strongly disagree, 5 = strongly agree)

1. Our company has a well-articulated, well understood, and powerful statement of purpose.

1 2 3 4 5

2. We have a high performance culture and our decision-making is driven by this performance orientation.

1 2 3 4 5

3. We are crystal clear about our guiding principles and our core values and we remain true to them in good times and bad.

1 2 3 4 5

4. We are able to be purpose-driven, performance-oriented, and principles-led simultaneously.

1 2 3 4 5



If we aspire to build game-changing companies, we’ll need game-changing leaders.


Traditionally, organizational leaders have been very effective at building and far less effective at brokering. As such, future development efforts should yield the highest returns from emphasizing this “brokerage role.”

For example, leaders have traditionally been effective at...


Phase 1 Building vision, strategies, brands…

but less so at brokering generalized statements of vision into shared meaning between units and the group.

Phase 2 Building enthusiasm for a new vision…

but less so at brokering enthusiasm into mutual accountability.

Phase 3 Building unit strategies… but less so at brokering business unit know how into integrated organizational capability.

Phase 4 Articulating values and principles…

but less so at brokering those statements into an authentic culture and climate.

Phase 5 Building teams and developing individuals…

but less so at brokering talent across units and geographies to build organizational agility.

Builders Brokers


Why is it that many leaders today are highly effective builders but struggle

with being effective brokers?


Why? •  The blessing and the curse of a strong culture! •  Those damned quarterly reports and analysts! •  It’s easier being a silo leader! •  Consequences are few and far between!

Game-Changing Talent Strategy!

So, if we aspire to build game-changing organizations, and develop game-changing leaders, we had better build a

Earlier we indicated that a key hallmark of a game-changing company is its

capacity to be: purpose-driven; performance-oriented; and principles-

led simultaneously.

Does your talent strategy play a role in making this happen?


Does any of this matter?

“We don’t need to waste time building a talent management process for our company…that’s what headhunters are for!”

Division President, Fortune 100 Manufacturing Company


Source: Harvard Business Review, Journal of Applied Psychology, McKinsey & Company

“For above average growth, companies need a cri3cal mass of senior execu3ves with superior competency levels.” For example, to be among the top 25% revenue growth companies, a minimum of 40% of senior execu3ves would need to be rated excellent. "Return on Leadership" – joint study by Egon Zehnder International and McKinsey & Company 2011

Developing Great Talent MaOers…

Hay Group Research has found that “effec3ve leaders” create a beIer organiza3onal climate and can posi3vely affect financial results by 30% (as opposed to ineffec3ve leaders). from HayGroup.com


Connec8ng the Dots

Superior Produc8vity

Above Average Growth

BeOer Organiza8onal Climate

Game-‐Changing Talent Strategies


Case example

Talent Management at


Strategic Priorities

Vision

Internal Values

External Brand

Enterprise Leaders Focus AOen8on on Building and Execu8ng Two Capabili8es Simultaneously

Performance

Principles

Purpose

“What makes us a game-changer in my mind is that our clarity of purpose is crystal clear,

has never changed, and never will.”

“We are maniacal about driving high performance, but we are also a family.”

“We are fiduciaries to our clients…we are innovators… we are One BlackRock.”


Larry Fink, Co-founder & CEO

Our talent strategy: raising the bar on performance

Investing in BlackRock talent to raise the bar on our performance – while strengthening our brand as an employer with the best talent in the industry

Hiring the Best

•  Source and select the best talent in the marketplace

•  Develop a strong, diverse pipeline of talent

•  Onboard employees effectively

Driving a High-Performance Culture

•  Differentiate performance •  Provide ongoing feedback •  Deepen the leadership bench •  Increase engagement and

connectivity

Developing Our Talent

•  Create world-class learning experiences

•  Foster leadership at all levels

•  Promote internal mobility across functions and geographies

Highest Standards – Diversity & Inclusion – Philanthropy – Values & Behaviors for Success

Sales Capability

Product Knowledge

Robust development opportunities mapped to the most critical needs

Leadership and Management Development

ENTERPRISE LEADERSHIP

INFLUENCING FOR RESULTS

DRIVING PERFORMANCE THROUGH TEAMS

MANAGING AT BLACKROCK

Institutional: Driving Excellence

MDs in critical roles with enterprise impact

Directors & MDs with broad leadership responsibilities

Transition from individual contributor to manager

Experienced people managers and project team leaders

Business Knowledge

Investor Knowledge

Technical and IT Skills

The Women’s Leadership Forum Development for High-Potential Female Leaders

Quarterly Chairman’s Forum Speaker Series For All Managing Directors

Executive Coaching and 360 Feedback For Selected Senior Leaders

Programs to build strength in top priority business needs Core programs mapped to key leadership transition points; specialized development for key groups

Professional Development

U.S. Retail: Professional Development Institute

BlackRock

Investment

Institute

The Hallmarks of a Game-Changing Talent Strategy


•  Serves as the “glue” and the “grease” that enables your company to be Purpose-Driven; Performance Oriented: and Principles-Led…simultaneously

•  Line leaders are “in deep” as Talent Champions─ deeply committed; highly engaged; and thoroughly accountable. •  HR partners who are no-nonsense, highly skilled,

strategically oriented doers. •  Together, these talent champions and HR partners

are passionate about creating and sustaining “a special place” that sets them apart.

Talent Factory Audit: Energizing the Organization (take-away audit)

Ques8on Ra8ng (1= we’re poor performers, 5= we’re at or near benchmark status)

1. Do you know what skills your company needs to execute its growth objec3ves? 1 2 3 4 5 2. Does your company have a process for iden3fying, assessing, and developing its next genera3on of leaders in all its businesses and regions? 1 2 3 4 5 3. Do you have specific development plans for your high-‐poten3al leaders? 1 2 3 4 5 4. Are you able to deploy the right people when emerging opportuni3es arise quickly and without significant disrup3on to other parts of your company? 1 2 3 4 5 5. Do you have diverse and plen3ful pools of talented employees who are ready, willing, and able to be deployed to new opportuni3es at the technical, managerial, and leadership levels of your organiza3on?

1 2 3 4 5 6. Do you have a diverse and plen3ful pool of leaders who are capable of moving into your company’s most senior execu3ve roles? 1 2 3 4 5 7. Do you offer managers and execu3ves developmental experiences specifically aimed at preparing them for the unique challenges of leading large, complex, global organiza3ons?

1 2 3 4 5

8. Do your company’s top leaders use words and deeds to unequivocally demonstrate that they are fully commiIed to developing talent globally at your company?

1 2 3 4 5 9. Would the people around your line leaders consider them ac3vely engaged in your company’s talent management ini3a3ves? 1 2 3 4 5 10. Does your top leadership team hold its managers and leaders accountable for iden3fying and developing talent in their businesses, func3ons, and regions? 1 2 3 4 5

Rate your company’s strength on a scale of one to five in the following areas.

Which 3 did you rate strongest? Why? Which 3 did you rate weakest? Why? How might you be able to capitalize on your strengths to correct your weaknesses?

For Q&A

Please submit your ques3ons through the webinar panel


Featured Reading Ar8cles "The Power of Collec3ve Ambi3on,” Harvard Business Review, December 2011

"Make Your Company a Talent Factory,” Harvard Business Review, June 2007

"Leading at the Enterprise Level,” MIT Sloan Management Review, April 2004


Related Program


Building Game-‐Changing Organiza8ons: Aligning Purpose, Performance, and People

•  October 14-‐15, 2014 (Sold Out) •  March 23-‐24, 2015 •  June 18-‐19, 2015 •  October 15-‐16, 2015

For informa3on on our portolio of 30+ Execu8ve Educa8on programs and various Execu8ve Cer8ficate op8ons, please visit: hOp://execu8ve.mit.edu

THANK YOU


Documents

GameChangingTalentStrategy:! From!Inspira8on!to!Implementa8on!cdn.executive.mit.edu/01/...game-changing-organization-webinar-slid… · Phase 1 Building vision, strategies, brands…