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Even the best companies are rethinking their approach to talent management due to prominent market and workforce trends such as heightened competition for talent, cost reduction pressures, an aging workforce and increasing global mobility. Spear-headed by HR as a strategic business partner, moving talent management and leadership development initiatives forward require organizational buy-in and commitment.
Given this direction, HR must work cross-functionally at every level to ensure a stable talent pipeline, sound leadership development programs and promising succession plans to stabilize the company for long-term success.
At the June 2008 Global Benchmarking Council conference, members and guests gathered to discuss generational characteristics and challenges, leveraging action learning approaches, strategic workforce planning, fast-track development programs and managing the workforce during difficult economic times.
Vice presidents, directors, managers and generalists in human resources, leadership development, talent management, training, organizational effectiveness, strategic planning, operations and related functional areas will benefit most from these case studies from leading companies and the summarized transcripts from a targeted panel discussion and two facilitated roundtable discussions.
COMPANIES AND CASE STUDIES
Case studies include speaker biographies and company background before describing key challenges company leaders faced and how they overcame them, managing workforce during difficult economic times, a quantitative look into workforce planning or the multigenerational aspects of today's workforce. Speaker anecdotes, quotes, select slides, insights and key take-aways all liven the case studies with personal touches and graphics.
- Cardinal Health shared how talent management drives growth and business success, how to remain focused on developing talent when faced with simultaneous changes and how companies can stay flexible and respond to difficult times of transition with multiple approaches to talent management in "Keeping and Growing your Talent in Times of Transition."
- Nationwide Insurance provided a research-driven analysis of the progression of workforce planning from the traditional, short-term recruiting activities to the very strategic, forward-looking human capital planning that relies on workforce segmentation and trends to drive strategic investments in "Strategic Workforce Planning - What You Already Know May Surprise You."
- Shire Pharmaceuticals provided insights about how the company built a start-up leadership development program within 90 days focusing on assembling effective practices already in place in different areas of the organization into one program without re-inventing the wheel in "Leadership Development and Talent Management: A 90 Day Accelerated Start-up Approach."
- 3M detailed information on its accelerated leadership development program and how the company uses action learning to identify leadership potential in "Developing Leaders at 3M: One Program's Approach."
- MetLife described the changing face of our workforce caused by generational differences in work styles and attitudes that leaders have to understand to effectively manage and develop employees in "New Face of the Workforce."
Following the first four presentations on leadership development, talent management and strategic workforce planning, Global Benchmarking Council members and guests divided into smaller groups for roundtable discussions and information exchanges on Sales Force & Marketing Leadership Development or Fast Track Leadership Development. Discussion topics included:
- The Home Depot offered insight into objectives, structure and design of the company’s accelerated leadership development program as well as the company's executive development program in "Action Learning in Executive Development Programs."
Effective Development Tactics
The second day of networking and best practice sharing closed with a targeted panel discussion on Attracting and Retaining Top Talent: Keys to Success in Economic Downturn and Times of Change. Representatives from American Red Cross, Genentech and Johnson & Johnson fielded questions from the facilitator and from Global Benchmarking Council members and guests on:
Centralized vs. Decentralized Development
Best Practices in Communication to High-Potential Employees
Mentor Programs that Work
Key Leadership Success Factors
This report was compiled from notes taken during speaker presentations and in-depth roundtable and panel discussions at the June 2008 Global Benchmarking Council conference, "Leadership Development: Finding, Growing & Retaining Top Talent." For more information on the Global Benchmarking Council or to register for the upcoming conference, visit http://www.best-in-class.com/gbc.
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Pharmaceutical; Insurance; Financial Services; Manufacturing; Medical Device; Retail
Cardinal Health; Nationwide Insurance; Shire; 3M; MetLife; The Home Depot; Inc.