Crack the Code of the Diverse Leadership Pipeline

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Many of our nation’s most well-respected companies retain consulting firms to craft their marketing strategies, and invest millions in an attempt to increase market share, and show profitability down the road. At the same time, many of these companies have recognized that they face a lack of diverse leadership, but only a select few are taking a strategic approach to build diverse talent pipelines. In this webcast, MLT, who has helped organizations like Deloitte, Goldman Sachs, Google, Target, PepsiCo and Citigroup recruit and retain more high potential diverse talent, will share approaches that successful companies are taking to fundamentally change the shape of their diverse leadership pipelines and solve their diverse talent challenges. MLT will discuss: Taking a long-term strategic approach to recruiting more diverse talent at various career stages, retaining and developing the diverse talent already within your organization, and engaging and gaining buy-in from colleagues not directly involved in human capital.

Transcript of Crack the Code of the Diverse Leadership Pipeline

  • 1. Crack the Code of the DiverseLeadership PipelineNeed assistance? Call Member Services (866) 538-1909 or email support@hci.org

2. #HCIwebcast AgendaHousekeeping Feature Presentation Q&ANeed assistance? Call Member Services (866) 538-1909 or email support@hci.org 3. This presentation is made possible by: Thank You! www.mbafocus.com 4. Interact with us!Click the Q&A button to:1. ask the presenter(s) questions 2. contact HCI Tech SupportNeed assistance? Call Member Services (866) 538-1909 or email support@hci.org 5. To listen to this webcast using VoIP: you must first un-muteyour computer speakers and turn up the volumeClick the Voice & Video tab on themenu bar at the top of your screenand click on Join Audio*If you do not have this option please use the Q&A interface for technical support* Need assistance? Call MemberServices (866) 538-1909 or emailsupport@hci.org 6. You can find the slidesfrom this presentation on the community page onwww.hci.org under theWebcast on DemandsectionNeed assistance? Call Member Services (866) 538-1909 or email support@hci.org 7. Todays Moderator Alan Mellish@alanmellishalan.mellish@hci.orgNeed assistance? Call Member Services (866) 538-1909 or email support@hci.org 8. Todays Featured GuestKevin DonahueVice President, PartnershipsMLTNeed assistance? Call Member Services (866) 538-1909 or email support@hci.org 9. CRACKING THE CODE ON THE MINORITY LEADERSHIP PIPELINEMAY 2012 10. MLT RESULTS Driving breakthrough results for Fellows and Partners #1 source of minority MBA candidates for top 10 business schools 90%+ of undergraduate Fellows obtain full-time job offers from top-tier firms Leading source of minority talent for top firms, including Goldman Sachs, Google, Deloitte, Procter & Gamble and PepsiCo Generating high profile media coverage Profiled as the leading minority talent organization on CNNs Black in America 2: Tomorrows Leaders series John Rice (Founder and CEO) named top 30 global social entrepreneur by Forbes Cover story in Fortune Profiled on NPR, Wall Street Journal and BusinessWeekUNLOCKING CAREER POTENTIAL 3 11. MLTS CAREER POTENTIAL EQUATIONEvery senior leader would identify several critical drivers of their career successthat they did not get in the classroom. MLTs Key FulfilledClassroom = +Hard Work + Ingredients CareerEducation Potential Access to the bestCoaching / mentoring opportunities Door-opening relationships Preparatory roadmap High-performing peer Hard and soft skillscommunity UNLOCKING CAREER POTENTIAL 4 12. MLTS TALENT DEVELOPMENT SYSTEMSOURCE HI-PO TALENTCAREER ADVANCEMENT AT MULTIPLE STAGES PROGRAM (CAP) FOR Non-profit partnerships / feederRISING EXECUTIVESprograms (K-12 programs, Mid-career professionals identified asscholarship providers) highest potential by MLT partners Alumni / Fellow referrals 6 months of executive coaching and Partner referrals (b-schools and development around specificcorporate partners)roadblocks to senior leadership MLT recruiting teams efforts 75% promoted within first year MBA PREP FOR EARLYCAREER PROFESSIONALS Pre-MBAs with raw talent to succeedat top MBA programs 18 months of coaching and in-personworkshops focused on MBABUILDING A MOREapplication and career preparation ROBUST LEADERSHIP Coaching and guidance during b- PIPELINE FORschool to maximize job outcomes PARTNERS CAREER PREP FOR #1 source of minority students for top Leverage MBA Focus to efficientlyCOLLEGE STUDENTS10 MBA programs facilitate recruiting process Undergrad juniors and seniors Customized retention solutions atsourced from 90+ schools various stages of leadership pipeline 15-month curriculum with one-on-onecoaching and in-person workshops Data throughoutdriven by corporate partners 90% receive full-time job offers prior tograduationUNLOCKING CAREER POTENTIAL5 13. THE CHALLENGE: DIVERSE LEADERSHIP PIPELINECompanies are trying to solve for more diverse leadership, but minorities arefalling out of the leadership pipeline at a far greater rate than their non-minoritypeers.Black HispanicNative American30%23%15%8%0% US Population Bachelors Degrees Top Entry Level Biz Jobs Top 50 B-SchoolsSenior LeadershipSource: 2001 study conducted by BCG/MLT; updated in 2006 by Booz Allen Hamilton/MLTUNLOCKING CAREER POTENTIAL 6 14. POLL #1In your opinion, how effective are your companys diversity recruiting efforts?1. Very Effective2. Effective3. Somewhat effective4. Ineffective 15. POLL #2Which of the following are part of your diversity strategy?1. Scholarships / fellowships2. Skill building activities for diverse candidates (case studies, interview prep, immersion experiences)3. Early identification of talent (i.e. before the start of the traditional campus recruiting season)4. Diversity career fairs5. Recruiting at HBCUs 16. CASE STUDY: INCREASING MARKET SHARECompanies make big investments in advertising, betting that their investment willpay dividends in increased market share. Vendors are evaluated on pre-definedcriteria and held accountable for results.Issue RFP for Evaluate results and advertising agencyFormulate ad Execute campaigncontinue vendorincluding budget andcampaign and measure resultsrelationship or beginvendor criteria process againMany of these same companies hold themselves to a much lower standard of rigor when investing in strategies to build a more diverse senior leadership pipeline. UNLOCKING CAREER POTENTIAL 9 17. CREATING A STRATEGIC DIVERSE TALENT STRATEGYThe rigor used to create, execute and evaluate a diverse talent strategy shouldbe equal to that used to solve any other business challenge. Determine budget Work with partners Execute andEvaluate results andand criteria for(schools, diversitymeasure results continue vendorevaluating orgs, trainingbased on indicators ofrelationship or begin partnerships andresources) to pipeline changeprocess again investmentsformulate strategyCompanies have been employing many of the same diversity strategies for 10+ years, but have not changed course despite limited impact in their diverse leadership pipeline over that time period. UNLOCKING CAREER POTENTIAL 10 18. SOLVING FOR SENIOR LEADERSHIPBroadening the pool of senior leaders requires increasing the pool of qualifieddiverse candidates at various career stages. Leadership PipelineAnalystAssociate VP / Director MD xLeadership Pool Recruitment Senior mentors Recruiting ambassadors Diversity champions Bench strength Retention and Development UNLOCKING CAREER POTENTIAL 11 19. COMMON PRACTICE: RECRUITING STRATEGY Strategy: Vigorously compete for relatively limited pool of qualified diverse candidates at point of recruiting transaction.TacticsOutcomes Career fairs More intense competition to capture a Campus info sessions larger percentage of available talent pool No growth in the overall size of the Mass emails to candidatesavailable talent pool Invest in partnerships that help to access large pools of candidates UNLOCKING CAREER POTENTIAL 12 20. STRATEGIC APPROACH: RECRUITING STRATEGY Stage One: Invest in building the pool of qualified candidates pursuing your companys opportunities.TacticsOutcomes Take a data-driven approach to identifying A larger pool of qualified candidates to candidates early with high potential for recruit from success Engage candidates before the start of the traditional recruiting season Educate students about what it takes to be a successful candidate Help candidates build the skills they need to be successful (case studies, analytical skill building, interview prep, etc) UNLOCKING CAREER POTENTIAL 13 21. STRATEGIC APPROACH: RECRUITING STRATEGY (2) Stage Two: Cultivate candidates via personal relationships and outreach.Tactics Outcomes Target candidates that fit your companys Candidates understand that you want profile via MBA Focus them to be a part of your organization Conduct personalized outreach, The recruiting transaction can become an leveraging details from MBA Focus outgrowth of a relationship profiles (school, work experience, interests, etc) Stage Three: Efficiently close recruiting transaction with expanded candidate pool. UNLOCKING CAREER POTENTIAL 14 22. COMMON PRACTICE: DIVERSITY GOALS / METRICS Strategy: Recruiting goals targeting an incremental improvement over the prior year (e.g. 3 more diverse hires) and retention goals focused on culture- change and inclusiveness.Tactics Outcomes No shared goals among recruiting and Annual recruiting goals dont drive retention teams activities that lead to a more robust Recruiting goals solely focused on annual diverse leadership pipeline outcomes Retention strategies do not contribute to Retention and advancement goals solelystronger performance within todays focused on long-term drivers of changeenvironmentUNLOCKING CAREER POTENTIAL 15 23. STRATEGIC APPROACH: DIVERSITY GOALS / METRICS Strategy: Starting point for goal setting is a clear picture of what a robust diverse talent pipeline looks like in 5 years. Tactics Outcomes Annual goals are based on progress Annual strategies track to a more robust metrics toward achieving desired pipelinesenior leadership pipeline metrics Success = a sustainable solution to the Hiring strategies and metrics tied tocompanys diverse leadership pipeline retention and advancement strategies Near-term success stories (i.e. senior and challenges leaders) to celebrate and replicate Retention strategies include helping high potential individuals navigate / succeed within the current environment Disciplined focus on initiatives that impact levers that drive desired 5-year goals All strategy decisions are data and metrics-basedUNLOCKING CAREER POTENTIAL 16 24. COMMON PRACTICE: DIVERSITY TEAM ALIGNMENT Strategy: Recruitment (campus and/or lateral), retention and/or diversity teams focused on individual areas with limited alignment / coordination.Tactics Outcomes No shared goals Recruiting and retention strategies not Separate