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Winning with Talent Emmy Miller President, Liberty Business Strategies, Ltd. July 29, 2009

Morison International 7 29 09 Presentation

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Page 1: Morison International   7 29 09 Presentation

Winning with TalentEmmy Miller

President, Liberty Business Strategies, Ltd.July 29, 2009

Page 2: Morison International   7 29 09 Presentation

1

“It is not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change.”

Charles Darwin

Page 3: Morison International   7 29 09 Presentation

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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

Page 4: Morison International   7 29 09 Presentation

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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

Page 5: Morison International   7 29 09 Presentation

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“At the end of the day, we bet on people, not strategies.”

Larry Bossidy

Former CEO, Honeywell

Page 6: Morison International   7 29 09 Presentation

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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

Page 7: Morison International   7 29 09 Presentation

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SURVEY RESULTS:VALUES

Page 8: Morison International   7 29 09 Presentation

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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

Page 9: Morison International   7 29 09 Presentation

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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

Page 10: Morison International   7 29 09 Presentation

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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

Page 11: Morison International   7 29 09 Presentation

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SURVEY RESULTS: DEVELOPMENT

Page 12: Morison International   7 29 09 Presentation

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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

Page 13: Morison International   7 29 09 Presentation

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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

Page 14: Morison International   7 29 09 Presentation

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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

Page 15: Morison International   7 29 09 Presentation

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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

Page 16: Morison International   7 29 09 Presentation

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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

Page 17: Morison International   7 29 09 Presentation

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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

Page 18: Morison International   7 29 09 Presentation

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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

Page 19: Morison International   7 29 09 Presentation

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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

Page 20: Morison International   7 29 09 Presentation

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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

Page 21: Morison International   7 29 09 Presentation

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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

Page 22: Morison International   7 29 09 Presentation

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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

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Break

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Today’s Workplace Population by Birth Years

1980-20001965 -19791946– 19641920 - 1945

45%5%

Matures Baby Boomers

Gen Xers Millennials

50%

Page 25: Morison International   7 29 09 Presentation

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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

Page 26: Morison International   7 29 09 Presentation

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Millennial’s Work Ethic

� Confident� Hopeful� Goal- and achievement-oriented� Civic-minded� Inclusive� Want feedback

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Tips to Manage Millennials

� Communicate 24/7� Teamwork� Involvement� Benefits that count� Mentoring

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“Learning is an active process. We learn by doing. Only

knowledge that is used sticks in your mind.”

Dale Carnegie

Page 29: Morison International   7 29 09 Presentation

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Learning Retention Rates

National Training Center’s pyramid graph of Average Learning Retention Rates

Page 30: Morison International   7 29 09 Presentation

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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?

Page 31: Morison International   7 29 09 Presentation

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Thank You!

Emmy Miller Liberty Business Strategies, Ltd.The Times Building, Suite 400

Suburban SquareArdmore, PA 19003610-649-3800 Tel.610-649-0408 Fax

[email protected]