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Building on Talent itinerary for getting the right leaders readySonia Diaz Del OroDirector, Global Learning & Organizational DevelopmentRoyal Caribbean Cruises, Ltd.Teri Hires, Ph.D.Regional Vice President,PDI Ninth HouseRoyal Caribbean’s Itinerary for Getting the Right Leaders Ready
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Building on Talent
Sonia Diaz Del OroDirector, Global Learning & Organizational Development
Royal Caribbean Cruises, Ltd.
Teri Hires, Ph.D. Regional Vice President,
PDI Ninth House
Royal Caribbean’s Itinerary for Getting the Right Leaders Ready
1
Agenda
� Introductions� Overview of Royal Caribbean Business� Business Case and Challenges� Building on Talent
� Framework
� Process� Results
� Evolution of Talent Management� Questions and Comments
2
Questions
3
About Royal Caribbean Cruises Ltd.
� Second largest cruise company in the world� 40 Ships – 3 expansion projects� $6.7 billion company� 64K+ employees worldwide� Strong brands� Royal Caribbean International, Celebrity Cruises,
Pullmantur, Azamara Club Cruises, CDR Croisieres de France, and Tui
4
Competitive Strengths
� Innovative new ships –aggressive growth plans
� International presence� Strong relationships with
travel agents� Multi-branded strategy� Best people� Strong ethics and values
5
Challenges We Face At RCL
Business� External business
conditions� Geopolitical environment� Regulatory environment� Complexity of our business� Competitive landscape� Guest expectations
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People� Shipboard/Shoreside� Diversity� Recruitment & retention� Engagement� Movement & scheduling� Training� Leadership Development &
Succession Management
Why must leadership development and succession management be a strategic business focus for the future of RCL?
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Business Case
How We Define Building On Talent
� Major commitment towards identifying and developing leaders for tomorrow
� Develops leaders to assume multiple roles organization-wide
� High potentials selected based on:� Current performance � Advancement potential
� Key RCL attributes (Business, Personal, Interpersonal and Leadership Effectiveness)
� Launched to senior leaders, cascaded to manager level� Drives business results
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Building On Talent Facts
� 28% of director and above population are in the program� Average 11 years tenure� Retention of 85% of our high potential population since
program inception versus 78% of all employees� 15% of participants no longer with RCL mainly due to:
� Reduction in force/position elimination� Performance
� Personal reasons
� Internally filled Director and Above positions – 87% were BOT participants
Building on Talent Framework
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Identify and Review Talent
Assess Talent Develop Talent Succession Planning
Building on Talent Framework
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� Leaders consider performance and potential of their direct reports
� Uniform tools, guides and worksheets ensure consistency
� Talent review meetings facilitated with leadership teams
� Talent discussed and debated during talent review meetings
� Formalized communication and program launch with selected high potentials
� Process occurs annually
Identify and Review Talent
Assess Talent Develop Talent Succession Planning
Talent Portfolio
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Per
form
ance
Potential
**All eligible directors & above were placed in one of these categories when evaluated for performance/potential
VP (two cases SVP) AVPDirector
C3
A
2 1
BSOLID
PERFORMER
High Achieving High Capacity
At Risk Under Achieving
NR
Building on Talent Framework
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� 360 Degree Feedback � Psychometric evaluations – cognitive, work
style, personality� “Year in the life” business simulations
� Personalized feedback reports generated
� Debriefs of feedback with boss and development planning action plans created
� Stack ranking reports generated for executive leadership use and for “birds-eye” view to determine development themes
Identify and Review Talent
Assess Talent Develop Talent Succession Planning
Executive Development Center
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Orientation
3 Business Simulations (to reflect a ‘year in the life’
of an Executive)
Development Planning Meeting
Integration Developmental Feedback
Structured Interview
Written Report
Cognitive Ability Tests, 360 & Personality
Inventories
Prework
Using Data for Decisions
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Using Data for Decisions By Competency
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Building on Talent Framework
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� Tied to business results and core competencies
� Customized to the individual
� Executive coaching engagements
� On-site leadership workshops delivered � Wharton, Harvard, UM and other
external executive development programs
� Special projects� Job rotations, new assignments
� Mentoring (current and past participants)
Identify and Review Talent
Assess Talent Develop Talent Succession Planning
Building on Talent Activities and Results
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Building on Talent Activities and Results
**5 out of 6 top jobs have been promoted from withi n
Building on Talent Framework
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Develop TalentIdentify and
Review TalentAssess Talent Succession
Planning
� Completion of succession charts
� Short term emergencies and medium/long term succession considered
� Succession charts reviewed and updated on regular basis
� Job rotations and assignments as needed
Outcomes
� 35% of current Officers in different functional role today than originally hired
� 52% of current Officers were promoted from within � Groomed and promoted from within:
� 4 of 5 Named Executive Officers (NEOs)
� 5 of 7 direct reports to Chairman & CEO
� 23 out of 50 leaders from top 3 layers of organization
� Evolving our succession practices from effective to world-class with the adoption of a more formalized approach –Building On Talent
Recognition and Reward
23
RCL Succession Planning Evolution
Male
Female
World-Class Talent Management
Integrated Building on Talent
Traditional Succession Planning
Emergency Planning
No Formal Succession Process
Dynamic and Transparent Process, Ready-now Talent Pools, Global Job Rotations, Succession Cascades to Professional and Management Roles
Ad-hoc Identification of Successors for Executive Positions
Primarily External Replacements, Little Formal Development Internally
Broad Business Focus, Talent Reviews, Assessment Centers, Executive Development, Enterprise Perspective, More Internal Promotions
Key Positions Targeted, Specific Job Rotations, Some Internal Promotions, Business Unit Focus
Prior to 2003
2004 & Beyond
Key Considerations
� Understand where your business is headed – paint a picture of the future
� Find early “adopters”� Involve leadership – make it their own� Partner with HR� Know when to get help – external point of view � Create linkages – tie into other talent management
processes� Avoid “big bang” approach – evolve appropriately� Be relentless about process – but don’t forget the people
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Questions and Comments
2626
Contact
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Sonia Diaz Del OroDirector, Global Learning and Organizational DevelopmentRoyal Caribbean Cruises, Ltd.(305) [email protected]
Teri Hires, Ph.D.Regional Vice PresidentPDI Ninth House(972) 256-6504 [email protected]
27