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Winning with TalentEmmy Miller
President, Liberty Business Strategies, Ltd.July 29, 2009
1
“It is not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change.”
Charles Darwin
2
Intended Outcomes� Establish the role of practitioner development in the sustainability of
professional services firms
� Understand the priorities of “Millennials” based on survey results
� Recall outstanding development experiences from the past, in order to inform the future
� Acknowledge the shift in coaching approaches necessary to develop a population of millennials
� Identify potential strategies to build capacity within your respective organizations
3
Agenda
I. Introduction
II. Acknowledging the Importance of Practitioner Development in Professional Services
III. Review Survey Data
IV. Recall Compelling Professional Development Experiences
V. Highlights from Your Partner’s Story
VI. Coaching and Mentoring in the New Millennium
VII. Building Internal Capacity
VIII. Wrap Up and Close
4
“At the end of the day, we bet on people, not strategies.”
Larry Bossidy
Former CEO, Honeywell
5
The Big Eight to the Big Four
Prior to 1989 1989 - 1998 1998 – 2002 2002 - Present
BIG EIGHT BIG SIX BIG FIVE BIG FOUR
1. Arthur Andersen
2. Arthur Young & Co.3. Coopers & Lybrand4. Ernst & Whinney5. Deloitte Haskins &
Sells6. Peat Marwick
Mitchell
7. Price Waterhouse8. Touche Ross
1. Arthur Anderson
2. Ernst & Young3. Coopers & Lybrand4. Deloitte Touche5. KPMG6. Price Waterhouse
1. Arthur Anderson
2. Ernst & Young3. Pricewaterhouse
Coopers4. Deloitte Touche5. KPMG
1. Ernest & Young
2. Pricewaterhouse Coopers
3. Deloitte 4. KPMG
6
SURVEY RESULTS:VALUES
7
A: #7 - Why do new partners/directors join
your firm? What draws them to you?
0
5
10
15
20
25
30
Wan
t to le
ave
Big-4
Know a
sen
ior
part
ner
By re
ferr
al
Our
spec
ialty
Our
val
ues
Oth
er: B
righ
ter p
rosp
ects
Oth
er: M
erger
of p
ract
ice
Oth
er: S
uccess
ion
plannin
g
8
B: #1 - What attracted you to your firm?
0
10
20
30
40
50
60
70
Leave the
Big 4
Senior
partner
Referral The
firm's
specialty
Their
values
Other
9
B: #2 - Why do you continue to stay with this firm?
0
10
20
30
40
50
60
70
80
Like the
size of the
firm
A senior
partner
The firm's
specialty
Their
values
Other
10
SURVEY RESULTS: DEVELOPMENT
11
A: # 6 - How important an issue is developing staff to your firm?
0
10
20
30
40
50
60
Very Im
portant . . . . . . . .
Not
Import
ant A
t All
12
B: #3 - What would cause you leave the firm?
05
10
15
20
25
3035
40
45
Firm
siz
e is li
miti
ngM
y m
anage
r
Lack
of d
evel
opment
The fi
rm's
cultu
re
Being
recr
uited
by
a clie
nt
Being
recr
uited
by
a Big
4
Start
my
own fi
rm
Change
to a
nother
fiel
d
Oth
er
13
A: #11 - What does your firm do to intentionally retain your staff?
0
10
20
30
40
50
60
70
80
Noth
ing
BonusM
entorin
g
Trai
ning
Spec
ial A
ssig
nmen
ts
Oth
er
14
A: #8 - What skills and attributes do you look for in new partners?
They are looking for technical skills, communication skills and interpersonal skills.
0
10
20
30
40
50
60
Indust
ry k
nowle
dge
Tech
nical s
kills
Self-
awar
enes
s
Comm
unic
atio
n ski
lls
Inte
rpers
onal s
kills
Consulti
ng pro
cess
Gro
up p
roce
ss
Team
deve
lopm
ent
Consulta
tive
sel
ling
Pract
ice
man
agem
ent
15
A: #9 - What skills are new partners/directors missing?
They look for and get technical skills; they look for, but do not get, communication and interpersonal skills.
0
10
20
30
40
50
Indust
ry k
nowle
dge
Tech
nical s
kills
Self-
awar
enes
s
Comm
unic
atio
n ski
lls
Inte
rpers
onal s
kills
Consulti
ng pro
cess
Gro
up p
roce
ss
Team
deve
lopm
ent
Consulta
tive
sel
ling
Pract
ice
man
agem
ent
16
B: #11 - Which competencies are important for you to exhibit?
0
5
10
15
20
25
Stro
ng per
form
ance
Being
tech
nica
lly a
dept
Inte
grity
, eth
ics
and c
haract
er
Usi
ng fe
edbac
k eff
ectiv
ely
Conflict
res
oluti
on
Thin
king
stra
tegi
cally
Change
lead
ersh
ip
Enga
gem
ent m
anagem
ent
Consulta
tive
sel
ling
Dev
elopi
ng se
lf an
d oth
ers
17
B: #8 - Where do you feel you need the most development in order to succeed?
0
5
10
15
20
25
30
35
40
45
50
Indust
ry k
nowle
dge
Tech
nical s
kills
Self-
awar
enes
s
Comm
unic
atio
n ski
lls
Inte
rpers
onal s
kills
Consulti
ng pro
cess
Gro
up p
roce
ss
Team
deve
lopm
ent
Consulta
tive
selli
ng
Pract
ice
man
agem
ent
18
A: #12 - How does your firm currently develop staff? (from partner/director survey)
0
1020
3040
50
6070
8090
Let p
eople
rise
to th
e to
p
Ment
oring
progr
am
Pract
ical
work
Shad
owin
g
Ass
ess
asso
ciat
e in
tere
st
In-h
ouse tr
ainin
g
Send to
sem
inar
s
Intr
oduce p
eople s
ocial
ly
Oth
er
19
B: #9 - How does your firm currently develop staff? (from staff survey)
01020
30405060
7080
Let p
eople
rise
to th
e to
p
Ment
oring
progr
am
Pract
ical
work
Shad
owin
g
Asses
s ass
ocia
te in
tere
st
In-h
ouse tr
ainin
g
Send to
sem
inar
s
Intr
oduce p
eople s
ocially
20
Compelling Professional Development Experiences
1. Find a partner (turn to the person next to you)
2. Decide who will be the interviewer and interviewee first
3. Take turns interviewing each other using the questions below
4. Jot notes down so that you can talk about your partner’s experience
As professionals, each of us has had a development experience that was memorable. Perhaps it was a “stretch assignment” that required you to expand your knowledge base and work in ways that you never had before…………. You may have had an excellent coach at some point in your career…………….. Maybe it was an outstanding training program from which you learned skills and concepts you are still using today.
1. Think of a time when you had an outstanding professional development experience. Perhaps, you are still drawing from its value?
� What happened during this experience? Talk about the specifics, the things that you did, learned, observed, etc.
� What were some of the methods used? (Stretch assignments? case studies? group based work? classroom based lecture?)
� Who encouraged you to participate in this development experience?
TASK ONE
21
Compelling Professional Development Experiences
Group Discussion
� Offer some highlights from your partner’s story.
� What does this tell you about what professionals value in terms of development?
TASK TWO
22
Break
23
Today’s Workplace Population by Birth Years
1980-20001965 -19791946– 19641920 - 1945
45%5%
Matures Baby Boomers
Gen Xers Millennials
50%
24
What Matters to Each Workforce
�Open, constant
communication
�Leaders who help
achieve goals
�Fulfilling work
�Less stress
�“Don’t rush me.”
�Loyal consumers
�Digital natives
�Open
communication
�Control of their time
�Invest loyalty in
people
�Eschew phoniness
�Network with peers
�Options
�Embrace
technology
�Respect hours
worked
�Team work
�Expect loyalty
�Control of their time
�Use technology
�Visibly successful
�Two-way loyalty
�Faith in institutions
�Quality
�Rules for a reason
�Flexibility with their
time
�Initially
technophobic
MillennialsGen XersBaby BoomersMatures
25
Millennial’s Work Ethic
� Confident� Hopeful� Goal- and achievement-oriented� Civic-minded� Inclusive� Want feedback
26
Tips to Manage Millennials
� Communicate 24/7� Teamwork� Involvement� Benefits that count� Mentoring
27
“Learning is an active process. We learn by doing. Only
knowledge that is used sticks in your mind.”
Dale Carnegie
28
Learning Retention Rates
National Training Center’s pyramid graph of Average Learning Retention Rates
29
Building Internal Capacity
� What will it take for your organization to build the necessary developmental capacity, in order to retain the right people and sustain your business?
� What kinds of development experiences will be the most useful to your people?
� What are you personally willing to commit to, to ensure that your people are getting the right development?
30
Thank You!
Emmy Miller Liberty Business Strategies, Ltd.The Times Building, Suite 400
Suburban SquareArdmore, PA 19003610-649-3800 Tel.610-649-0408 Fax