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High Potential andASPIRE ProgramsHigh Potential andASPIRE ProgramsASPIRE ProgramsASPIRE Programs
20102010
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20102010
You Are Not Alone – Failure Rates Are High and CostlyYou Are Not Alone – Failure Rates Are High and Costly
Fact:It is estimated that more than 40% of all new managers fail (replaced) in their first 18 months in position!
Fact:Management failures cost gorganizations over $676 billion every year!
That’s Right Billion!!
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g
Documented Impact – Just The Direct CostsDocumented Impact – Just The Direct Costs
Company* Number of Employees
(US)
Turnover Rate Estimated Turnover Cost
per Employee**
Reducing Turnover 1 % Savings / year(US)
Merck 39,489 9% $7592 $2,765,000
Cerner 2,953 14% $8000 $240,000
Charles Schwab 18,863 12% $8329 $1,512,000
MBNA America 16,960 15% $4800 $1,000,000
Average U.S. Company 10,000 15.6% $5000 $500,000
Not including the indirect costs of lost productivity or sales
Company
Based on Public Data from Fortune Magazine’s 100 Best Companies to Work for January 2001
** Estimated Turnover Costs calculated at 20% of most common entry level salary
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Estimated Turnover Costs calculated at 20% of most common entry level salary
Documented ImpactDocumented Impact
t 18
20Pe
rcen
t
16
nove
r P
12
14
Turn
8
10
Leadership Effectiveness
8
Bottom 30% Middle 60% Top 10%
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eade s p ect e essResults are from a study conducted for the book, The Extraordinary Leader by Folkman and Zenger
Why Such An Alarming Rate?Why Such An Alarming Rate?
We constantly promote incompetent people?
Newly promoted managers don’t have the desire toNewly promoted managers don t have the desire to succeed?
Exceptional talent is hard to find internally?Exceptional talent is hard to find internally?
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Proactive Selection and Identification ProcessProactive Selection and Identification Process
Best Practices are starting to emerge: Formalized pre-manager programs targeted at high potential management candidates that:
Reduce the cycle of costly selection mistakes
at high potential, management candidates that:
Identify the right talent for the right position
Provide candidates with clarity and understanding of the role of manager pre-understanding of the role of manager prepromotion
However, it does take a creative and ,fresh look at historical selection processes and how we prepare management candidates for success
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management candidates for success
Why Establish A Formal Pre-Manager Program?Why Establish A Formal Pre-Manager Program?
According to a 2001 Harvard Business School Study:
Leadership failure is the #1 reason for turnover and one of the top two
y
preasons for business failures
61% of managers do not exhibit appropriate managerial behavior
40% of workers say they have no l f db k fregular feedback on performance
Less than 50% of followers trust their leader
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leader
Four Critical Questions to Answer – Before PromotionFour Critical Questions to Answer – Before Promotion
Are you right for management?
What is management? A tA t I i htI i htWhat is management?
Is management right for you?
AssessmentAssessmentAre you right for
t?
Are you right for
t?
InsightInsight
What is management?
What is management?right for you?
Where do I start? AwarenessAwareness
management?management? management?management?
DevelopmentDevelopment
Where do I start?
Where do I start?
Is management right for you?
Is management right for you?
Solution: Initiate a formal program for high potentials that helps both the organization and participant to answer these questions
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both the organization and participant to answer these questions
Key Process ElementsKey Process Elements
1) Set participation parameters :
Ti i P iti
2) Design the critical components:
Ph O
Representative 9-12 Month Program Highlights:
Time in Position
Experience
Performance
Phase One –Self & Peer Assessments
Phase Two –M t R l Cl it
Willingness
Written Responses
Management Role Clarity
Phase Three –Awareness and Simulation
Phase Four –Foundational Development
3) Integrate seamlessly with your human capital development process
Formalize the process
Secure executive sponsorship
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Secure executive sponsorship
Framework For Success –High Potential ProgramFramework For Success –High Potential Program
Phase One: Assessment
Helps to answer the question –
AssessmentAre you Are you Helps to answer the question
Are you right for management?
Getting the right people in the right
right for management?
right for management?
g g p p gjob is key – The old adage “People are your most important asset” turns out to be wrong.turns out to be wrong.
“People are not your most important assetimportant asset.
The right people are”. Jim Collins, Good to Great
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Framework For Success – High Potential Program Framework For Success – High Potential Program
Assessment Phase:Helps to answer the question –
Are you right for management?
AssessmentAre you Are you y g g
ObjectiveConduct Harrison behavioral assessment and PeerView Profile with debriefing sessions to identify not
right for management?
right for management?
g yonly can they do the job but will they do the job.
ActivitiesProfiling and highlighting a participant’s natural
d i i ib kill htendencies, passions, attributes, skill set strengths and gapsIdentifying natural decision stylesIntroducing performance management conceptsIntroducing performance management concepts
ResultsParticipant gains a clear understanding of the match between their natural tendencies and
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match between their natural tendencies and abilities matched against the role of manager
Framework For Success – High Potential ProgramFramework For Success – High Potential Program
Assessment Phase:Timing and Activities
AssessmentAre you Are you
Months One and Two– Harrison links and PeerView invitations will
right for management?
right for management?
be sent and debriefing sessions conducted
– Results sent on to participant’s manager
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Framework For Success – High Potential Program Framework For Success – High Potential Program
Phase Two: InsightsHelps to answer the question –
What is management? Is Management
InsightWhat is What is g g
for me?
ObjectiveTransfer knowledge, experience
management?management?
g , pand insights of the responsibilities and expectations placed on the role of manager
ActivitiesClarifying management influence and obligationsClarifying management role and realities; dispelling mythsClarifying why leaders fail; the traps new
f ll i tmanagers fall into
Results Participant has a better understanding of the role and
t ti f th id th i t d i i
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expectations of a manager as they consider their next career decision
Framework For Success – High Potential Program Framework For Success – High Potential Program
Phase Two: InsightsTiming and Activities
InsightWhat is What is
Month Two and Three – Conduct a customized half day, highly
interactive Management Insights
management?management?
interactive Management Insights workshop that sets the foundation and common vision for management, leadership and coaching throughout company.
– Goal Planning Webinar – Aligning professional and career goals
– Follow up session with CornerStone advisor – Review Development exercises and Goal Planner
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Framework For Success – ASPIRE ProgramFramework For Success – ASPIRE Program
Awareness PhaseHelps to answer the question –
Is management right for you?
Awareness
Is managementIs managementObjective
Transfer information and experience through webinars, self-directed exercises and action team learning that provide a realistic feel for the day-to-day role of a manager
Is management right for you?
Is management right for you?
p y y gActivities
Webinar session: “Becoming the Obvious Choice” How to focus on development and career plans for advancement E i B ildi B d Y A hit ti L D iExercises: Building Brand You, Architecting your Legacy, Day in the Life Scenarios, Team building and problem solving, Presentation skills coaching. Articles to reinforce learningAction team learning that allows participants to actively engage in real life problem solvingin real life problem solving
– Participants will be broken into 4 or 5 teams, each team will be given a business issue to solve over the course of several months and present their ideas to leadership.
Results P ti i t i f th l th d d il d d f
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Participants experience for themselves the essence and daily demands of management
Framework For Success – ASPIRE ProgramFramework For Success – ASPIRE Program
Awareness Phase:Timing and Activities
Awareness
Is managementIs managementMonths Three thru NineOne activity per month will be conducted consisting of a mix of:
Is management right for you?
Is management right for you?
consisting of a mix of:– Self directed exercises coupled with orchestrated
debriefing sessions with their manager or mentorW bi f k l d t f– Webinar for knowledge transfer and reinforcement
– Action team planning, learning and executionlearning and execution
– Manager feedback on assessments and goals
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Framework For Success – ASPIRE ProgramFramework For Success – ASPIRE Program
Development Phase:Helps to answer the question – Where do I start?
Objective
DevelopmentDevelopment
Where do IWhere do IObjective Provide a foundation of management concepts and activities that bridge the initial 90 days as a manager until formal leadership development is initiated
Where do I start?
Where do I start?
p p
Activities Enhancing a participant’s effectiveness by introducing:
– The art of delegation
– Day one planning and organization
– Importance of setting the right expectations
Results Participants are better prepared to be effective day one as a manager having been exposed to certain key
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management concepts and tasks
Framework For Success – ASPIRE ProgramFramework For Success – ASPIRE Program
Development Phase:Timing and Activities
DevelopmentDevelopment
Where do IWhere do IgMonths nine - twelve
Activities focused on a mix of:
Where do I start?
Where do I start?
Activities focused on a mix of:– Continuation of self directed exercises coupled with orchestrated
debrief sessions with their manager or mentor
– Webinar: “I Quit But Forgot to Tell You”
– Foundational Leadership workshop consisting of simulations, team planning and goal development session
– Certification – criteria developed for participants
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Unique Opportunities for FacilitationUnique Opportunities for Facilitation
Excellent opportunity to leverage experience, insights and wisdom
Creative approachesWeb enabled information and knowledge transfer:g
Program instructions and logisticsPre and post reading materialsAssessments and self study exercisesAssessments and self study exercises
Mentor led instruction and guidance:Retired or semi-retired senior executives are used as facilitating mentorsused as facilitating mentorsSolicit and certify current senior management talentWe can retain noted industry experts
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We can retain noted industry experts
High Potential and ASPIRE ProgramHigh Potential and ASPIRE Program
Targeted Goals and ResultsHigh Potentials
E ll Hi h P t ti l t A t D b i fiExpose all High Potentials to Assessments, Debriefings sessions, Insights Workshop and Goal Planning
ASPIREAspire assists both the organization and participants match the role of a leader with the requisite traits displayed by each candidate
P id f ff ti l d hi iProvides a process for effective leadership succession planning
Establishes a foundation of development for day one leadership successleadership success
Creates opportunities for senior leadership to engage and support the future leaders and top talent of the organization
Engages top performers in developmental activities key
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Engages top performers in developmental activities – key retention driver
High Potential + ASPIRE Program TimelineHigh Potential + ASPIRE Program TimelineMonthsCheckpoints
Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb
Phase 1: Assessment Administer Harrison Behavioral Assessment and PeerView Profile
Phase 2:Insights
Debriefing sessions are conducted and managers are sent reports
Management Insights half day workshop, setting foundation and common vision and Management role clarity + Goal Based Activity Planning Webinar
Follow up sessions with advisor-Development exercises and Goal Planner completion
Program
Phase 3: Awareness Creating Leadership Awareness
Leadership on line scenarios – self directed exercises that provide insight to the day to day role of leaders. Once completed the responses are debriefed b theirday to day role of leaders. Once completed the responses are debriefed b their manager or mentor 2 Webinars – “The Next Level” – “Becoming the Obvious Choice” - how to position yourself as the next obvious choice for advancement
Participants will be broken into teams each team ill be gi en a
Teams will present their “sol tions” to all Aspire
Program
Phase 4: D l t
teams, each team will be given a business issue to solve over the course of several months
“solutions” to all Aspire participants and other invitees (BU leaders and executives)
Building a Leadership Foundation Coaching exercises that build awareness on effective coaching and
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Development mentoring skills, Webinar: I Quit But Forgot To Tell You – Getting Engagement and Commitment Final half day Leadership workshop consisting of simulations, team planning and goal development session
Aspire Certification
Program Investment Summary – High PotentialProgram Investment Summary – High Potential
High PotentialAssessments: Harrison Behavioral Assessment and PeerView Profile
1-on-1 debriefing of assessments
ID Manager Suitability of High Potentials – Harrison report
Workshop: Management Insights (half day)
Webinar: Goal Planning and The Next Level
Follow up session: One hour 1-on-1 session with CornerStone advisor for development exercises and Goal Planningfor development exercises and Goal Planning
CornerStone books: Management Insights and The Next Level
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Program Investment Summary – ASPIREProgram Investment Summary – ASPIRE
ASPIREWebinars: “Becoming the Obvious Choice”; Books: 12 Choices and Becoming the Obvious Choice;Books: 12 Choices and Becoming the Obvious Choice; “I Quit But Forgot to Tell You” Book: I Quit But Forgot to Tell You, Group and self-directed study and coaching by manager supported by CornerStone advisor; Exercises: “Building Brand You”, “Architecting your Legacy”, “Day in the Life Scenarios”; Tools - Time Allocation Planner, Goal Based Activity Planning, Personal Coaching Plan
Action Team Learning: Teams work on selected business issues identified by Senior Leadership and supported by manager and CornerStone advisor. Exercises: Team building and problem solving, Presentation skills coaching, Articles to reinforce learning
Workshop: Foundational Leadership (half day) – Books: Monday Morning Leadership, 7 Moments That Define Excellent Leaders
Ongoing coaching by manager supported by CornerStone advisor – selection of
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g g g y g pp yinternal Mentor