Identifying & Growing Future Leaders

Transcription

1 Building The Management Pipeline: Identifying & Growing Future Leaders T h e O P E N M I N D S E x e c u t i v e L e a d e r s h i p R e t r e a t W e d n e s d a y, S e p t e m b e r 1 9, : 0 0 p m 3:30pm S t a c y D i S t e f a n o, C h i e f O p e r a t i n g O f f i c e r, O P E N M I N D S 15 Lincoln Square, Gettysburg, Pennsylvania info@openminds.com

2 I. The Seven Core Principles Of Developing Your Talen Pipeline II. Panel Discussion John Sheehan, MBA, FACHE, President and Chief Executive Officer, Harbor Behavioral Health Bob Lincoln, Chief Executive Officer, County Social Services Mental Health & Disability Services Region Tine Hansen-Turton, President & Chief Executive Officer, Woods Services 2

3 I start with the premise that the function of leadership is to produce more leaders, not more followers. Ralph Nader 3

4 The Seven Core Principles Of Developing Your Talent Pipeline 4

5 Core Principle #1 It starts with the business strategy. Talent pipelines should support the strategy. Start by looking at the drivers of your business: Is it Sales? Research & development? Clinical Services? How are you creating a sustained talent pipeline in those parts of the business? The necessary leadership qualities and the identification, development and review of key talent should be linked to the strategy to assure that the bench strength meets the organization s needs. Base the pipelines on where the business is currently, while preparing for future scenarios. 5

6 Core Principle #2 Hire for now and the future. As Marshall Goldsmith said, "What got you here, won't get you there." Leadership needs will vary based on the strategic needs of the organization. If you are looking at your current talent pool and don t see enough people with the potential to lead, you need to look at your hiring practices. People don t suddenly develop the potential to lead. Talent should be assessed not just on current needs but on future potential. 6

7 Core Principle #3 Recognize talent management as a core business process with impact on overall business and financial success. Make current leaders accountable for talent management, just as they are for the financial and operational success of the organization. To drive talent management into the culture of your business, integrate it with critical processes like selection, performance management, rewards, and compensation. At the individual level, let people know where they stand (e.g., A, B, C talent) and the implications. These practices need to be owned by the executive team and leaders/managers across the organization. 7

8 Core Principle #4 Make talent management a part of the business culture. This is a corollary to # 3. The internal talent conversation should be ongoing among your senior leadership teams. Until they take root in the culture, overt processes should be put in place so these conversations occur. In sustainable talent management processes, development comes from a variety of sources coaching, new assignments within the organization, mentoring, training programs, and so forth. With the application of each type of development, there needs to be clarity about what the individual is supposed to be developing from each experience or assignment. Frequent conversations about the development experience provide feedback to the individual about his progress, allowing him to make course corrections and accelerate growth. It also helps the organization learn more about the potential leadership talent and make course corrections. 8

9 Core Principle #5 Measure it and know if it's making a difference. Knowing what will create success now and in the future and focusing resources on those areas creates sustainability. Put performance measures in place to assess the return on the resources you are committing to development. As stated in principle #3, make it a key accountability for the executive team and for managers within the organization. As the saying goes you get what you measure. 9

10 Core Principle #6 Identify, develop, and promote high-potential talent. High potential performers have the capability to continue to take on larger, more complex levels of responsibility and often do it quickly. High potential employees are often voracious learners. They take on new tasks and are able to master them quickly. In addition to capability, high potential performers are engaged on an emotional and rational level with the organization. They aspire to rise into and succeed in more senior, critical positions. They want to be leaders. Your high-potentials should be the first place you look for promotable talent. If every senior executive in your business can t name at least three high potentials in their own organization, then you don t have a viable pipeline. If you look hard, and can t find many, the firm needs to assess its hiring and development practices and focus on improving them. 10

11 Core Principle #7 Address talent gaps with aggressive internal development. Hiring from the outside shouldn t be your initial reaction when an opening occurs. There are times when an infusion of outside talent can provide new skills and drive innovation. However, developing your internal talent should take precedence. Sometimes, promoting internally can feel risky. You may feel no one is totally ready. Internal talent with potential can have a shorter learning curve than external hires. The internal candidate already knows the business, the culture, and the products, and has internal networks that can support a more rapid path to success. 11

12 Panel Discussion John Sheehan, MBA, FACHE, President and Chief Executive Officer, Harbor Behavioral Health Bob Lincoln, Chief Executive Officer, County Social Services Mental Health & Disability Services Region Tine Hansen-Turton, President & Chief Executive Officer, Woods Services 12

13 Questions 13

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