Management Leadership for Tomorrow (MLT) Redefining College Success: Career Readiness April 2017

Transcription

1 Management Leadership for Tomorrow (MLT) Redefining College Success: Career Readiness April 2017 MANAGEMENT LEADERSHIP FOR TOMORROW

2 Today s Agenda I. Welcome & Introductions II. MLT Overview III. College Persistence Rate & Career Readiness Gap IV. MLT s Career Development Framework V. Contact Us

3 Interactive Activity: How do you define and implement career development?

4 MLT transforms minority talent into senior leaders OUR MISSION: To build the Premier Career Development Institution that equips high potential minorities with the key ingredients to unlock their career potential. OUR VISION: We see a nation where high potential under-represented minorities represent a critical mass of senior leaders in key sectors that drive our economy. 4

5 and is committed to transforming the leadership pipeline Create 1,000 senior leaders with 10,000 more in the pipeline. Build a network of leaders who are driving critical change across society. Revolutionize how individuals work toward reaching their potential. Transform talent pipelines at corporations, non-profits, and start-ups. 5

6 The MLT leadership pipeline drives measurable impact for all stakeholders MLT S Leadership Pipeline SENIOR LEADERS 95% on track to graduate from college within 4 to 6 years 90% receive fulltime offers by graduation Career Prep #1 source of minority students for top 10 MBA programs MBA Programs Exclusive access to MLT partners experienced hire roles Lateral Recruiting 75% promoted within 1 yr Career Advancement Programing Ascend Roadmap for succeeding early college 18 months of coaching/ seminars preparing for first career 18 months of coaching/in-person workshops focused on MBA application and career preparation Alumni conferences, weekly alumni job bulletin, and MLT coaching opportunities 6 months of executive coaching and development around specific roadblocks to senior leadership 6

7 We have over 300 Scholars from 19 community partners

8 MLT fellows and scholars come from over 100 academic institutions 8

9 We also have over 90 corporate partners in a breadth of industries

10 This is critical because under-represented minorities are falling out of the leadership pipeline ~30% of the US population is Black, Hispanic or Native American Growing to 45% by % of senior leaders are Black, Hispanic or Native American MLT s Focus While minorities have achieved critical mass at the college level, they are significantly under-represented at every stage in the professional world. Chart source: 2001 study conducted by BCG/MLT; updated in 2006 by Booz Allen Hamilton/MLT *Source: US Census Bureau 10

11 In addition, the college graduation rates continues to be a hurdle for under-represented minorities Under-represented minorities are 13%+ more likely to not persist and graduate College within 4yrs. 1-Graduation rate as of 2012; Graduating within four years after start (males and females) Source: National Center for Education Statistics 11

12 Today, more than 4 out of 5 College Grads graduate without a full-time offer Source: The Economic Policy The unemployment rate for under-represented minority college grads is 2Xs that of its White counterparts 12

13 And those who do graduate, they are not prepared for their professional career Unemployment Rates for College Graduates Under 25 1 Minority vs. White: Bachelor s Degree Holders 2 25% 22% 20% 15% 15% Minority vs. White: Professional Entry-Level Job Holders 2 10% 9% 5% 0% White Black Hispanic Economic Policy Institute, THE CLASS OF 2012Labor market for young graduates remains grim: Chart source: BCG/Booz Allen Hamilton 13

14 The gap between the academic and professional worlds is wider for under-represented minorities 1 Taught from childhood that educational achievement is key to success. 2 Limited access to network who can pass down the winning playbook for the professional world. 5 Underperforming their talent level in the recruiting process and on the job. Making poorly informed decisions. 3 Reliant on guidance from people who have not been where they want to go and have the wrong playbook. 4 Limited knowledge of the highperformance bar and the roadmap to hit it. Traditional offerings like scholarships and internship programs do not address these gaps. 14

15 Several key factors perpetuate the career readiness gap Lack of Professional Network Lack of Career Knowledge Low Confidence Low Income First Generation 15

16 Moreover, self-confidence plays a vital role in the success of under-represented minorities in their professional career Self-reported Ways To Increase Minority Student Confidence These are top answers when minority students were asked what could be done to increase their confidence in career paths where they do no think they can succeed. 16

17 A professional playbook and coaching is necessary to help students achieve success Playbook + Coaching Personal Clarity Alignment of passions, strengths and long-term goals leads to well-informed career path decisions One-on-One Coaching Translates and personalizes the roadmap, drives accountability, and ensures informed decisions Knowing the Bar Understanding what high performance looks like at every stage from the lens of the decision-makers Support Network Access to mentors and peers who can decode the unwritten rules of the game, and provide access to opportunities Roadmap Detailed action to meet / exceed the professional bar 17

18 The framework informs long-term goals, which helps to drive each chapter of the journey 1 Personal Clarity 2 Knowing the Bar 3 Roadmap to Hit the Bar Skills Accomplishments Relationships Story Social Impact - Milestone D - Milestone C - Milestone B - Milestone A Supported throughout by Alumni Rising Leaders Partners Volunteers One-on-One Coaching MLT Network 18

19 Undergraduates who are at risk for falling off track were 55% more likely to enroll in college 78% more likely to volunteer regularly 90% are interested in becoming a mentor 130% more likely to hold leadership positions because they had a mentor Source: 19

20 There is a difference between coaching and mentoring COACH MENTOR Focus Performance Goals Personal Development Arena College Success Career Readiness LIFE Role Specific agenda No defined agenda Relationship Assigned or selected Self-selecting Timeframe Defined, short-term, and contractual Long-term, evolving relationship Outcomes Goals Accomplished Lessons Learned

21 MLT College Programs Roadmap Academics/GPA Management Financial Aid Relationship Development Extra-Curriculars/ Leadership Career Preparation/ Professional Skills Personal Problem Solving 21

22 Example #1: Roadmap Road Map Focus Area Academics/ GPA Management The MLT Bar : Scholar Success Profile ~15 credits per semester Solid GPA for major and interests Course completion/enrollment ratio of at least 0.75 Identified (or on track to identify) a major/minor SCHOLAR: Where Am I Now? Step 1 Step 2 Step 3 TIMELINE Plan of Action Financial Aid Extra-Curriculars/ Leadership Relationship Development Career Preparation/ Professional Skills A thorough and diversified financial aid plan for existing and future semester Involvement in clubs/organizations related to the scholars short and long terms goals (career, personal, hobby, exploration) Attends activities that reflect a sense of belonging on campus (cultural, social, etc) Knows and has met with an academic advisor Has and meets with relevant informal mentors Develops friendships with students from different backgrounds/experiences Meets with professors A thorough, targeted, relevant and layered plan for summer. Have identified clear career paths of interest based on understanding of opportunity and assessment of personal strengths and interests. Personal Problem Solving Able to identify challenges, develop SMART goals around actionable solutions, and have follow through on goals set.

23 Example #2: Roadmap Target Role Timeframe Months Target Organizations Success Profile (the Bar) Where I am Today Plan of Action Skills and Competencies What high performers do really well Specific and measurable skills and competencies (can build corporate cost model in 2 hours vs. advanced excel) What I can do today relative to the bar Planned actions to close the gap Accomplishments GPA, quant courses, test scores 1+ academic honor Extra curricular Years of relevant experience Have done / accomplished XYZ 3.2+ GPA (core) 1 quant course, 1 academic honor SAT 720 math Planned actions to close the gap Relationships Person who can get you in the door Person who can reinforce your candidacy Person who can give green light What relationships (MLT included) do I have today who may be able to help Who will I target and how will I cultivate the relationship Story Number of mock cases with folks in job 3 examples of why company to demonstrate fit 3 examples of why me for the job What I have done to prepare Quality of key reasons / examples Complete number of mock cases Research why company Informational interviews to determine ideal candidate profiles Social Impact Volunteer activities Board service Recruiting activity at firm Things I m doing in the community and to help younger individuals / MLT fellows Volunteer and community engagement action plan

24 Where do you apply this playbook? 24

25 Contact Us