Preparing IR for Senior Leadership Roles: What got you here may not get you there

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Evan Richardson
5 years ago
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1 Preparing IR for Senior Leadership Roles: What got you here may not get you there Julia Sweeney Leadership and Talent Consulting Stephanie Buckles Executive Search 2014 Korn Ferry. ALL RIGHTS RESERVED.

Korn Ferry A heritage of innovation and growth 1969 1970s 1980s 1990s 2000s 2010s Firm founded in Los Angeles, CA by Lester B. Korn & Richard M.

2 Korn Ferry A heritage of innovation and growth s 1980s 1990s 2000s 2010s Firm founded in Los Angeles, CA by Lester B. Korn & Richard M. Ferry Specialty Practices include Board Services, High Technology, Retail 1973: First major USbased search firm in Asia 1974: Paris office opens 1975: Sao Paulo and Singapore offices open 1977: Merger with Hazzard & Associates expands Latin American market 1977: Fortune cites Korn Ferry as the world s leading executive search firm Offices include Caracas, Frankfurt, HK, Kuala Lumpur and Sydney Specialty Practices expand to Healthcare and Education Offices in Bangkok, Buenos Aires, DC, Melbourne, Newport Beach, Seattle, Stamford 1984: Peter Ueberroth placed as Olympic CEO 1986: development of comprehensive computerized database Global footprint expands with offices in Central and Eastern Europe, North America, Latin America and Asia employees 1993: videoconferencing introduced as recruitment tool 1998: development of innovative proprietary search software 1998: Futurestep launches 1999: Korn Ferry goes public First search firm to reach $500M in annual revenue; 500 global consultants 2000: e-korn Ferry Executive Center launched Retained by Mexican President to assist in cabinet position searches Executive Coaching launched : Lominger, The Newman Group and LeaderSource acquisitions 2009: Whitehead Mann Partnership acquisition #1 in global and US market share FY13: $813M annual revenue 40% of which was generated outside Search 2012: Global Novations diversity and inclusion firm acquisition 2013: PDI Ninth House leadership solutions firm acquisition 2014 Korn Ferry. ALL RIGHTS RESERVED. 1

3 Our solution framework covers the spectrum of talent and leadership Design Build Attract Talent Strategy & Organizational Alignment Board & CEO Services Board, CEO & Executive Recruitment Leadership Development Professional Recruitment Succession Management Recruitment Process Outsourcing Workforce Performance, Inclusion & Diversity Employer Brands & Talent Communications Onboarding 2014 Korn Ferry. ALL RIGHTS RESERVED. 2

4 Our clientele Over the last three years, Korn Ferry has partnered with: 100% of Dow Jones Industrial companies 92% of Fortune 100 companies 88% of the Fortune Most Admired companies 79% of the FTSE % of NYSE Euronext companies 2014 Korn Ferry. ALL RIGHTS RESERVED. 3

5 NIRI Leadership Successful investor relations officers meld strategy, finance, communications, marketing and compliance. Superb technical knowledge and skills are a job requirement. In addition, demonstration of leadership skills differentiates even the most successful professionals from the pack Korn Ferry. ALL RIGHTS RESERVED. 4

6 Part I: Leadership Trends and Research

7 Trends of today s business landscape Globalization Globalization Innovation and Changing Strategies Flatter and Leaner M&A / Restructuring / Spin Offs Technology Marketplace Disruptions 2014 Korn Ferry. ALL RIGHTS RESERVED. 6

8 21 st century challenges and opportunities It s a VUCA world

9 Today s business environment VOLATILITY UNCERTAINTY COMPLEXITY AMBIGUITY It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is the most adaptable to change. - Charles Darwin 2014 Korn Ferry. ALL RIGHTS RESERVED. 8

10 21 st Century Leaders

11 21 st century leaders needed today Global Leaders Attract global talent, operate across boundaries, meet diverse customer needs Require global perspective, cultural agility, self-awareness, openness, and flexibility Depend on their capable, self-directed teams Change Leaders Pivot the organization in anticipation of or in response to market changes Swiftly change the business model and lead competitors because of adaptability, foresight Master the ability to inspire and motivate people in a dynamic environment with unprecedented diverse teams Innovation Leaders View problems as challenges to be overcome Use technology for new products / services Work hard to stay in front of trends by creating new markets See and understand how to reach, design for, and serve traditionally underrepresented consumers and clients Growth Leaders Thrive in new, complex, and crowded business environments Open to diverse points of view Grow business under difficult circumstances that may involve a lack of resources, fierce competition, or razor-thin margins 2014 Korn Ferry. ALL RIGHTS RESERVED. 10

Where performance comes from Research indicates that functional

distinguisher between superior and average performance.

characteristics, or behavioral competencies 40% Leadership

12 Where performance comes from Research indicates that functional and technical skills are important, but they are not the primary distinguisher between superior and average performance. 10% 50% 50% of performance is derived from leadership characteristics, or behavioral competencies 40% Leadership Characteristics Job / Technical Motivation / Experience 2014 Korn Ferry. ALL RIGHTS RESERVED. 11

Competencies are measurable, observable characteristics that contribute to high

15 Competencies Understanding the business Making complex decisions Creating the new and different Keeping on point Getting organized Getting work done through others Managing work processes Dealing with trouble Making tough people calls Focusing on the bottom line Being organizationally savvy Communicating effectively Managing up Relating skills Caring about others Managing diverse relationships Inspiring others Acting with honor and character Being open and receptive Demonstrating personal flexibility Balancing work / life 2014 Korn Ferry. ALL RIGHTS RESERVED. 14

16 Self awareness critical, yes, but common? Study after study has demonstrated that selfawareness is a key factor associated with high performance and potential and an indicator of long-term success, especially for leadership roles Korn Ferry. ALL RIGHTS RESERVED. 15

18 Spot a Blind Spot?

20 A Hidden Strength?

23 Break

24 Part II: Development Planning

26 Activity Passion and goals interview

27 The GAPS Grid WHERE AM I NOW? WHAT MATTERS? MY VIEW Abilities Goals & Values What I believe I can do What I want to do VIEW FROM OTHERS Perceptions Success Factors How others see me What others expect of me

28 Career milestone review Helpful reflection exercise when considering next move HIGH Level of Satisfaction LOW Milestone 1 Milestone 2 Milestone 3 Milestone 4 Milest 2014 Korn Ferry. ALL RIGHTS RESERVED. 27

29 Development priorities

30 What is a development priority? A specific development need that is critical for your career goals and opportunities, AND, you are motivated to work on it. For example: Strengthen my ability to work well with diverse teams, including people from different disciplines and those who have varying degrees of technical expertise Improve my ability to communicate with and influence executive team, peers, board, industry groups Improve my knowledge of process improvement methodologies Deepen my knowledge of the other products and services within my business line 2014 Korn Ferry. ALL RIGHTS RESERVED. 29

32 From needs to priorities Most people have multiple development needs all of which may be important The challenge trim this list to the top 2 or 3 development priorities Best practice suggests this is realistic target 2014 Korn Ferry. ALL RIGHTS RESERVED. 31

33 Decision criteria for selecting priorities A specific development need that is critical for your career goals and opportunities, AND, you are motivated to work on it. Criteria: The importance of a development need to your goals and possibilities How hard it will be to develop this need right now A need may be very important, but very difficult to address now 2014 Korn Ferry. ALL RIGHTS RESERVED. 32

34 Development planning is just the beginning. Let s put it to work.