Talent Management Puzzle In Turbulent Times

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Preston Bates
5 years ago
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Talent Management Puzzle In Turbulent Times Reza Ghazali, OMD, Korn

2 What s keeping leaders up at night? 39% Little more than one-third of CEOs are confident about their companies revenue growth prospects over the next 12 months 78% Four in five are concerned about over-regulation especially in uncertain times 72% Seven in ten are concerned about geopolitical uncertainty and effect on their business future 56% More than half think competition & convergence will increase with shrinking market, without knowing where the competition comes from Korn Ferry ALL RIGHTS RESERVED. 1

4 How can we address talent management issues in these turbulent times?

5 But which talent?

6 Fundamental talent management questions Performance How effectively are your leaders performing? Who are your A players? Potential Who has the capacity to be effective beyond their current level in more challenging roles how far and how fast? Readiness Who is ready to move to the next level or into specific roles how prepared and what gaps need to be filled? Fit Who is best suited (internal or external) for an immediate role with its specific business context and culture? Korn Ferry ALL RIGHTS RESERVED. 5

11 Best talent to see through turbulent times High performers are not always high potentials but, high potentials are mostly high performers. 29% of high performers are high potentials. 7% of high potentials are not high performers. High potentials Not high potentials 71% of high performers are not high potentials. Not high performers High performers 93% of high potentials are high performers. Korn Ferry ALL RIGHTS RESERVED. 10

13 You are not riding this out alone A case in example

CASE STUDY Solving talent puzzle in turbulent times Company has been in steady growth state for many years. Grown from regulator to corporation to PLC over the years Highly regulated industry.

14 CASE STUDY Solving talent puzzle in turbulent times Company has been in steady growth state for many years. Grown from regulator to corporation to PLC over the years Highly regulated industry. Malaysian company with strong presence around the country and internationally New business direction needed all the more in these turbulent times. Board approved new business structure Huge assets. Service provider, B to B as well as B to C Korn Ferry ALL RIGHTS RESERVED. 13

Methodology Used KF 4D measures 4 aspects of leadership related to high performance

Structured Behavioral Interview Learning Agility for Leadership Potential Learning

transition into leadership roles with greater capacity.

15 Methodology Used KF 4D measures 4 aspects of leadership related to high performance and meaningful impact driving results. Structured Behavioral Interview Learning Agility for Leadership Potential Learning Agility for Leadership Potential) measures readiness and potential of executives to transition into leadership roles with greater capacity. Structured Behavioral Interview explores track record, mission critical competencies and career experiences of the leader. Korn Ferry ALL RIGHTS RESERVED. 14

16 Company A Executive Insights MORE AVG LESS Drivers / Motivators Unique Client Profile (UCP) GMs Group Average They are generally confortable in their roles. They need to be energized and motivated by the core ingredients of transformation 80% show low on Power Not optimally motivated to seek influence, recognition and increasing levels of responsibility 50% show high on Independence Half of those assessed are more entrepreneurial in their ways and prefer less organisational constraints 60% show high on Structure More than half still prefer a working environment which is process oriented, structured and stable Korn Ferry ALL RIGHTS RESERVED. 15

Company A Executive Insights Assertiveness Traits Empathy 6 Composure To support Company A s transformation, the leaders need to have optimal levels of social leadership, energy and agility

17 Company A Executive Insights Assertiveness Traits Empathy 6 Composure To support Company A s transformation, the leaders need to have optimal levels of social leadership, energy and agility Persistence Need for Achievement Risk Taking Tolerance of Ambiguity 0 Influence Affiliation Situational Self Awareness Socialibility Risk Averse 50% of those assessed do not show a willingness to take a stand or chances based on limited information. Low tolerance of uncertainty. Afraid of making mistakes! Need of Achievement 60% of those assessed may not have tendency to work to achieve and exceed difficult standards. Eg Are KPIs to unattainable? Focus Curiosity Adaptability Persistence is constantly high This is a positive trait. They push on despite obstacles or distractions. But are they pushing forth on the right targets / agendas? UCP Group Average Korn Ferry ALL RIGHTS RESERVED. 16

18 Leadership Maturity Having assessed the leadership benchmark, we are able to identify a few leaders with the most agility We refer to them as Smart Growth Leaders 7 These are individuals capable of consolidating, extending and expanding into adjacent 4 These are thought leaders capable of producing game changing IP / product innovation Growth Enablers 4 Growth Builders 7 Growth Wizards 9 9 These are highly mature and versatile individuals, capable of creating new growth through radical change and transformation 2 These are consistent performers but may not effectively adapt to new situations Reliable Professional 2 Growth Managers 5 Growth Takers 8 8 These individuals are capable of aggressive strategies to capture emerging markets 1 These individuals may require strong performance action or redeployment Question Marks 1 Leadership Potential Developing 3 Diamonds in the Rough 3 These are individuals with some growth potential, but immature in leadership 6 6 These are wild cards with growth potential for the long term, but immature in leadership 5 These are individuals contributing through projects and operations, innovating and growing in a limited context Korn Ferry ALL RIGHTS RESERVED. 17

19 Leadership Maturity Most leaders are technically biased with low learning agility Central Function Roles High Professional Growth Builders Growth Wizards Business fronting roles Reliable Professional Growth Managers Growth Takers LEADERSHIP MATURITY: FIT AGAINST GLOBAL BENCHMARK AND COMPETENCY ASSESSMENT Question Marks Developing Diamonds in the Rough LEADERSHIP POTENTIAL: ABILITY TO DO WELL IN GREATER LEADERSHIP CAPACITY Leadership Potential (Agility) Korn Ferry ALL RIGHTS RESERVED. 18

20 All those assessed are obviously deemed fit to play their roles, to varying degrees of success. Upon closer evaluation, we observe that: 60% of those assessed have a strong technical bias and are likely to excel upward in their respective roles as their leadership maturity increases 25% of those assessed have the potential of upward and lateral movement into more challenging opportunities as their leadership maturity increases 15% of those assessed may have reached their full potential and would not likely succeed in new roles Korn Ferry ALL RIGHTS RESERVED. 19

Top 3 succession and development priorities Overall Conclusions Large proportion of technical specialists means that transformational leadership is limited in the group.

21 Top 3 succession and development priorities Overall Conclusions Large proportion of technical specialists means that transformational leadership is limited in the group. Aligning leadership to transformation Recommendations Determine the mix of broader leaders you require to drive the agenda at senior level and identify and develop (different) leaders with potential. Emerging group of talent with future potential. Invest in building influencing capability. Provide broader business exposure by filling key roles with the most challenging leadership agendas. Stakeholder management and networking is a key development area across the group. Provide strong organizational support and align your highest potential talent with the most talented leaders. Korn Ferry ALL RIGHTS RESERVED. 20

22 Why Korn Ferry?