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redefining leadership: building tomorrow’s leaders today
Nicole PritchardRegional Manager, Talent Management, AXA Asia
4 June 2012
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Overview
AXA at a glance
Identifying, assessing, and developing AXA Asia’s future leaders
Few tips and building leadership team ownership
Lessons learnt and pointers
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How do we plan for the future when the world changes so quickly?
How do we build leaders for the unknown future?
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Leadership at AXA
Globally, AXA recognises leadership as a key business challenge
Henri de Castries, Chairman and CEO, AXA
“We must develop the leadership qualities needed to get the best from every staff in our organization. We need to capture their hearts and minds.”
“Leadership is critical to our success. Indeed, this is the only driver that will help us make the cultural transformation required to engage all of our employees”
Redefining Leadership
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Leadership challenges at AXA Asia
Young companyHigh growth aspirations
(organic & inorganic)
Talent starved market
The need to developleaders at all levels
Importance ofhaving the right
leaders
Rapidly changing markets
Challenges
Hence…
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The Top 20 Research and findings- an external perspective
Three key differences emerged between Top 20 Companies and other survey participants
Leaders lead the way Unrelenting focus on talent Practical and Aligned Programs
Source: Hewitt/RBL Survey
The Top 20 Companies for Leaders Study
Leadership Development Journey
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Business strategy
Leadership skills/
attributes
3a. Quality of bench
strength
3b. Quality/ quantity of
pipeline
4a. Development
planning
4b. Talent pipeline
management
Effective Business
Leadership
1.Begins with deeply understanding the businesses current and future requirements
2. The business analyses its leadership requirements…….
3.Leadership requirements are reviewed against what exists both today and what is needed in the future ………..
4. Actions are initiated to develop and source the right leadership ……..
5. The business is led effectively
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1 & 2. Business strategy translated into key attributes required by future leaders
Leadership success dimensions directly cascaded from business strategy
Embedded within all business processes Regularly reviewed and updated to reflect business priorities Expectations defined across the employee population
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3a. Quality of bench strength
Asia Leadership League Development Centres launched in 2010 to identify and build tomorrow’s leaders:
i) Future country CEOs and Excom: three day Development Centre
ii) Future country Leadership Team members: two day Development Centre
iii) Key young talent: two day Development Centre
Consistent framework defining potential at AXA Asia
Custom designed development centres
Identification and development framework for key talent groups
Consistent across all countries
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3a. Quality of bench strength Assessing future leaders at AXA Asia
Assessing the potential of future leaders to successfully lead AXA Asia is against a defined model and uses a robust, multifaceted approach
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Potential Model
DRIVE
ABI LITY
ENGAGEMENT• Results Orientation• Team Leadership• Change Leadership• Share to Succeed
• Strategic Vision• Building Capability• Focus on Customer• Mental/Cognitive ability• EQ• Learning Agility
• Living Through AXA Values• Rational Commitment
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Structure of the program
Day 1
Introduction Career Dev elopment
Interv iew In-tray exercise Peer Meeting Mini Feedback Learning log Debrief
Pre-centre Indiv idual debrief Self ref lection & Self assessment Online exercises - aptitude tests and personality questionnaire
Day 2
Direct report meeting Customer Meeting Boss Meeting Group exercise
Day 3
Dev elopment workshop Sharing session with Mi ke
Bishop & Bill Henderson Wor kshop on Recei ving
feedback & Lear ning Styles
Feedback (60 min) with f acilitator pairs
Post-centre Indiv idual report summarising key observ ations, strengths and dev elopment opportunities 90-min f eedback session with facilitator pairs Session with line manager to agree dev elopment themes and actions
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3b. Quality/quantity of pipeline
Global standardised annual succession planning and talent review process
Review breadth and depth of talent within all companies in Asia Critical leadership roles Critical professional families
Regional Excom heavily involved
CEOs held accountable for conducting review within their company
Identify concrete development actions
Monitor and review
Organisation and Talent Review (OTR)
Redefining Leadership
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4a. Development Planning
AXA University campuses in Singapore and Paris
Technical and behavioural skill planning & development
Long-term career planning International mobility
Annual individual development planning
Regional Training Needs Analysis linked to strategic business plan
Managers and staff held accountable for development plan execution
Annual career development dialogues conducted with all staff
Short and long term assignments encouraged to develop capabilities
Dedicated facility and faculty designing and delivering customised programmes and forums
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4b. Talent pipeline management
Internal pipeline management External talent mapping
Active monitoring and management of movement of talent within the organisation
Balance buy versus build
CEO, x entity
Candidate A
Candidate B
Candidate C
Candidate D
Candidate E
Candidate F
Candidate G
Review every six months the external pipeline of talent for key roles
Conduct in all countries
Proactive networking and relationship building
Leadership Team2011 People Movements
4 promotions
0 promotion
0 promotion
4 joiners (1 external; 3 internal transfers)- John D- Jane M- Fei X- Alan B
11 joiners (6 external; 5 internal transfer) - Shane B - Dean S- Kevin M - David P-Jim B - Rebecca A-Calvin S - Steve K-Ben P - Ahmed P-Aran P
7 joiners (all external)- Eric P - John J-Ian C - Rob S-Brad S - Lisa M-Stephanie S
x joiners (x external hires, x internal transfers)
2 departures- Gareth M- Albert J
11 departures (9 external; 2 internal transfers)- Ruby C - Clement B- Esther T - Michael F- Mark D - Eric C- Jan T - Cynthia B- Kevin W - Mike W- Daniel Q
x (x departures; x internal transfers)
New Joiners (to 1 Nov)
Principal/Senior Manager (n=x)
Excom (n=x)
PF Leader/SVP-EVP (n=x)
2 lateral moves
Functional Leader/Vice President (n=x)
7 lateral moves
Departures (to 1 Nov.)
8 departures (6 external; 2 internal transfers)- Tony B - Simon G-Kim D - Jean W-Oliver F -Steven S-Tom B -Ellen B
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Retaining future leaders at AXA Asia
Targeted measures are used to retain future leaders Career Track Recognition Development dialogue Development plan execution Market positioning of fixed compensation Long Term Incentive Plans
Senior executives actively manage any derailing / plateauing of
future leaders
Targeted actions to address concerns Role movement Coaching
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Building Executive ownership
A common issue with developing future leaders is gaining CEO & Leadership team ownership
At AXA Asia, engagement and ownership by the Leadership team has been gained by
Annual Talent Sessions: Regional CEO along with Regional HR discusses with
each country annually and reviews the health of future leader pipelines &
development plans Quarterly reviews / Excom Off-sites: Along with the Business Quarterly Reviews,
Regional CEO and Excom review the talent pipeline and development plans
implementation with all countries Assessing and developing future leaders: Senior executives commit significant
time to assess the suitability of identified future leaders, participate as facilitators in
Development Centers along with partnering with them for their development.
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A quick Audit …
Do you know what your leaders of the future look like?
Do you know who your best talent is? Do they know?
Is there a significant difference between their total compensation and the average performers in their position?
What developmental opportunities do high potential leaders get compared to other leaders?
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Building tomorrow’s leadersA few tips on what we can do…
Initiate one on one CEO dialogue with the identified
talent
Develop high-potential development programs
Create assignment-based development programs
Develop "on-boarding" programs to ensure success
in new roles
Link high-potential status to total compensation
review
Track high-potential growth to identify best growth
paths
FewTips
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The Right Programs, Done RightShort-Term and Long-Term Opportunities
What can we Do Today
Assess - Ask senior team for feedback on current processes for developing leaders
Prioritize - Identify the 3 things that the company absolutely must do this year to build leadership depth and quality
Compare - Understand how the programs compare to those of the Top 20
Audit - Determine the total dollars spent by the organisation on developing leaders; assess return
Longer Term Actions Leadership Strategy -
Develop a holistic leadership
strategy outlining how to
source, align, develop and
reward leaders Implementation Audit -
Assess capabilities to
effectively implement
leadership programs Create the Practices –
Create and implement those
practices with the greatest
leverage for building leaders
FewTips
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Lessons learnt at AXA
Gain leadership team ownership early on
Identify the “right” leaders
Give future leaders the job and resources they need to
succeed
Support, develop and encourage future leaders
Reward and empower
Be prepared to “Let them soar high”
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Closing questions to ponder upon
Based on our conversation today . . .
Where do you see the greatest areas for improvement in your approach to building leadership depth and quality?
How committed is your CEO and Leadership Team members to build strong leaders?
What barriers exist to implement new leadership practices or processes?
Redefining Leadership
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