We were in Atlanta recently for the High Potential and Leadership Development Summit put on by Talent Management Alliance and it got us thinking as to what the state of leadership development is currently in the world of HR. In general, the industry has transformed rapidly however it seems there is still a lot of room for improvement within most organizations, especially when most managers admit to having no clue as to what they are doing when growing ‘high potential’ employees.
Jo crushed it as usual during her presentation on Experiential Talent Development addressing the room surrounding business agility and enabling an agile workforce to combat the changed career landscape. She discussed how to cross the talent chasm among this disrupted landscape. This disruption is largely due to the changing workforce demographics, rapid technology advancements and the global talent and skill shortage. One of the biggest takeaways delivered was to design careers around experiences, not positions, to increase employee satisfaction.
So what else did we take away for our community?
Giving it to you straight, as Jo and many shared, the old school 9 box is dead. Most have transitioned away from it and gone to 4, 6 or, like us, developed something else entirely.
Throughout the HiPo presentations the 70/20/10 rule had a lot of traction and while learning management systems aren’t dead per se, on-the-job training, mentor experiences and gigs/short-term assignments are the means to growing leaders now. As Jo also shared, the Fuel50 2016 Career Engagement Benchmarking Research revealed that on-the-job development opportunities such as stretch assignments increase engagement by up to 30%!
Despite the above, it appears the adoption of technology to enable these elements is lacking. Many we spoke to do use learning management or talent management systems yet no-one had a career experience platform to tie it all together. It was agreed by many in attendance that leadership development tends to get tons of budget, so we wonder why more isn’t being invested into technology. Platforms, like Fuel50 (shameless self-plug) can completely revolutionize and transform the career experience and leadership growth of employees within organizations.
Lateral moves were up there as being embraced by many firms as a retention strategy. The Director of Organizational Development from Piedmont Healthcare and her team coined the phrase “re-gifting” employees who don’t fit into a role after X amount of time. Wisely, they don’t want to lose their internal people, so they ‘re-gift’ them to the organization in hopes to find them a new spot where they can better use their talents and passions to further the company.
Speaking the Fuel50 language
Self reflection, self awareness, insights, stretch assignments, lateral moves and gigs are terms that we at Fuel50 speak on the daily and we were pleased to notice they are fast becoming pervasive in everyone’s acumen nowadays. Steve Towers, VP Principal Consultant Talent Management at Right Management had a particularly interesting session of which we instantly connected to, it was very reflective of what Fuel50 executes on. He shared that 87% of organizations do not believe they have future leaders identified to fill critical roles (Right Accelerating Business Performance Survey) but believes that that the missing link is ongoing career conversations, which are going to replace performance management but unfortunately are completely overlooked currently at so many companies. If these conversations were more frequent employees would be more engaged, more likely to stay with their current employer and more confident/likely to share their ideas (Source: Right Management Global Career Conversations Study, 2016).
Make yourself at Home
We enjoyed the Fuel50 sponsored panel which featured Joe Garcia (left), Head of Talent Management and Organizational Effectiveness at Home Depot. His session, where he shared an amazing and emotional story, stood out and held a lasting impression. To paraphrase what he said… 30 years ago Home Depot hired an immigrant from the Caribbean as a part time cashier. Over time, management caught wind of her desire and passion for Home Depot that she was put onto a leadership plan. Today this immigrant from the Caribbean is responsible for all US store sales which equates to $85B of the $105B sales at Home Depot. A brilliant story proving that hiring from within and giving employees the ability to have a “career” is critical to sustainable competitive advantage.
We always love hearing career transformational stories within each of our client’s organizations, hence our upcoming webinar where we put our best-in-class customers in the spotlight. Join us to hear stories from our panel featuring Jay Porter (Walmart), Christopher Rotolo, PhD (PepsiCo), and Dom Boon (Liberty Latin America). Anthony Luciano Jr (VP Business Development at Fuel50) will be provoking our panel with questions such as:
- What workforce changes they’ve seen take place in their organizations
- Future changes they see coming that will affect their workforce
- What they’re doing to adapt to these changes
Register for the webinar
Digitization of the Employee Experience featuring Walmart, PepsiCo, and Liberty Latin America | Wednesday, 6th June 2018 at 1pm (EST)