Cultivating the Talent Pipeline. LeadingAge Maryland April 30, 2014

Transcription

1 Cultivating the Talent Pipeline LeadingAge Maryland April 30, 2014

2 Introduction Dr. Chris McNiven, President Aspire Consulting Partners, Inc. Michael Brady, CFO National Lutheran Communities & Services

3 Objectives Discuss the coming challenges to the Long Term Care industry and identify key steps organizations need to take in advance of preparing for succession Create a framework for succession planning that takes into account Global, Organizational and Individual perspectives

4 Objectives Encourage the embrace of Succession Planning not only as a means of filling an immediate C-level need, but also as a comprehensive leadership development program to meet future organizational needs

5 Why Succession Planning? What s coming to our Industry Externally? According to the Pew Research Center there are roughly 10,000 Baby Boomers turning 65 today and this will continue every day for the next 19 years...

6 Why Succession Planning?... they re coming and they re going to expect things from us

7 Why Succession Planning? What s happening to our Industry Internally? In the next 3-5 years an estimated 50% of the Senior Level positions in Long Term Care will turn over Case Study by Financial Executives International 97% of Senior Leaders think it is important to have a Succession Plan for the CFO

8 Why Succession Planning?... but only 43% of those same organizations had a Succession Plan in place

9 Succession Planning 101 Start to have the discussion

10 Succession Planning 101 Can be (but doesn t have to be) an awkward discussion Some organizations may be in a comfortable position to address transition strategies; others may be addressing this issue after navigating a difficult transition experience

11 Succession Planning 101 Realize that the plan we develop will probably not be ideal Succession Planning is not just for the CEO this plan needs to be across each Leadership position within the organization May not happen in the order we think

12 Succession Planning 101 Succession Plan needs to be in alignment with the Strategic Plan of the Organization Collaborative Approach: Lay out the Goals and direction of the organization Give staff time to buy-in

13 Succession Planning 101 Succession Plan (much like the Strategic Plan) needs to be pushed down (It s not a secret)

14 Succession Planning 101 Realize that there is a continual assessment that needs to be done with any Succession Plan Identify the plan s limitations External Limitations Internal Limitations

15 Succession Planning 101 Succession Planning Goals: Get a plan in place Identify the right person, or best fit, for the organization Avoid the kneejerk or crisis hire Develop a plan that is nimble

16 REALITIES THE TALENT PIPELINE

17 The Talent Pipeline Organizational Perspective Paths for Managing Perspectives to Consider Pragmatics to Leverage Individual Perspective A Process of Building A Process for Choosing

18 A Definition: But First A Proactive and Collaborative Strategy that Develops and Leverages today s talent for success tomorrow.

19 But First

20 Paths, Perspectives, and Pragmatics ORGANIZATIONAL VIEW

21 Paths for Managing The 4 primary paths include: Relay Non-Relay Internal Parachuting Boomerang What might be some strengths or weaknesses of each of these?

22 Paths for Managing Things to remember: There is not one right path for: all organizations all positions What are some variables that might impact the path you choose?

23 Perspectives to Consider Identity & Culture Management 1. Identity (who you are as an organization) has both an internal and external face. 2. Every person you hire represents your identity and influences the culture of your organization. 3. Culture eats strategy for lunch.

24 Perspectives to Consider Identity & Culture Management Two Things to Remember: Be thoughtful about your trajectory. Have a deep and explicit understanding of your VABEs.

25 Perspectives to Consider Risk Management 1. Everyone s job, regardless of position, is to manage risk for the good of the organization and those it serves. 2. Transitions necessarily result in gaps related to risk and performance. 3. Being aware of the risk is an insufficient strategy.

26 Perspectives to Consider Risk Management Three Things to Remember: Create a risk mitigating stop-gap. Understand the new player s bent toward risk (especially if they are a leader). Transition from stop-gap to permanent solution.

27 Pragmatics to Leverage Transition Management Talent Development Talent Assessment Workforce Planning

28 Pragmatics to Leverage Project needs of organization. Workforce Planning Understand the shifts in workforce management (skills, positions, etc.)

29 Pragmatics to Leverage Talent Assessment Understanding what you need, conduct a gap analysis and determine what you have. Assessment can take many forms, and if you have time, more is better.

30 Pragmatics to Leverage Broad-based and targeted talent development. Talent Development A philosophy of openhanded development.

31 Pragmatics to Leverage For those you are bringing in. Transition Management For those you are moving up. For those that are moving on.

32 A Few Considerations INDIVIDUAL PERSPECTIVE

33 Building and Choosing Explore Entry Evaluate

34 Building and Choosing Entry Explore Evaluate Explore: 1. What are the gaps that need to be addressed so I can take my next step? 2. What networks do I need to develop to expand my horizons?

35 Building and Choosing Entry Explore Evaluate Evaluate: 1. How will I know the right opportunity when it presents itself? 2. Who will provide me with the reality check I need?

36 Building and Choosing Entry Explore Evaluate Entry: 1. What do I need to do to start well? 2. What resources will I need to mitigate issues that inevitably arise?

37 The Village at Rockville CASE STUDY