Future FS Leadership Development

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Managing Talent to Deliver Value

Service Overview

An effective Talent Management strategy ensures that an organization has the people and skills, now and in the future, necessary to achieve its business strategy. Talent Management has changed significantly from a traditional siloed definition owned by the HR function to become a critical business issue led and owned by the Executive Team and CEO.

Organizations today face a dynamic business climate with a shrinking pool of qualified talent. To stay ahead of the rapid pace of change, organizations must proactively assess, plan, develop and deploy talent to assume leadership and pivotal roles.

PwC’s Talent Management Framework

Client Issues

Many companies in the financial industries are experiencing the same leadership development pain points:

  1. Challenges attracting executive talent
    • Supply and demand – Demand is outpacing supply for skilled employees, with management and executive talent at a premium.
    • Identifying talent – Targeted talent acquisition, development and mobility plans vary widely among organizations. Failure to identify emerging leaders to drive business growth tomorrow.
  2. Difficulty retaining top performers
    • Reductions in force – Cost cutting on the forefront and workforce reductions, including cuts among senior leaders, is a necessity for many organizations.
    • Keeping high performers – Increased risk regarding retention of high potentials and high performers to be groomed for leadership positions.
  3. Lack of programs to build bench strength
    • Lack of formal programs – Most of corporations do not have formal, long-term leadership development programs.
    • Deeper leadership bench strength – Risk of failing to achieve business goals and define competitive advantage.
  4. Keeping up with an ever-changing market
    • Clear leadership vision and strategy – For organizations to deliver value in a rapidly changing business environment, they must have a solid strategy.
    • Demand for global experience – Growing demand for leaders with broad and often global market experience. International experiences may be limited or unavailable.

Supply and Demand Changing Demographics Expectations and Values Changing Nature of Work
  • National and global workforce and population trends
  • Migration
  • Worker mobility
  • Ageing population
  • Education constraints
  • Drain of skills and experience
  • HR metrics –
  • Understanding and managing a diverse and changing workforce
  • Gender / Race / Ethnicity / Sexual Orientation diversity
  • Generational values, expectations and workplace adaptations
  • Worker mobility
  • Work / life balance
  • Salary and benefits
  • Influence of technology on the workplace
  • Globalization
  • Virtual office

Our Approach

  1. Define Leadership Strategy
    A tiered future-oriented leadership development strategy is linked to the organization’s strategy and provides development paths based on a leader’s experience levels and competencies.
  2. Design Leadership Architecture
    The leadership development program should be designed to embed key values and principles to drive business results.
  3. Create Development Paths and Programs
    Offering a suite of learning opportunities, which blends on-the-job experiences with formal and informal learning, builds the strongest leadership capabilities.
  4. Assess and Develop Leaders
    Our leadership development approach is based on our established training methodology, which provides the rigor to deliver this program, the creativity to make it inspiring, and the performance focus to drive behavioral change.
  5. Sustain and Reinforce Development
    To realize the full benefits of leadership development, it is essential to reinforce a continuous-learning and knowledge-sharing mindset.

Drive organization’s values and expectations Ensure ongoing alignment with business strategy and priorities Secure executive accountability and support Reach all levels of leaders Measure what matters and foster continuous development
Tailor leadership competencies

Put leadership development into an organizational context

Embrace diversity when targeting future leaders

Validate value of leadership profile through formal dialogue and consensus meetings
Establish leadership development needs in alignment with business strategy

Evolve leadership development as business strategy evolves

Integrate with talent management activities

Foster a culture of cross-functional collaboration
Involve executives and hold them accountable for the development of leaders

Gain top management support

Position leaders as standard bearers of the companies values

Engage business leadership in profile development
Target all levels of leadership

Build a Leadership development career path

Customize development opportunities to key leaders’ needs and their critical transitions

Develop succession planning approach that is proactive
Build scorecards and link competencies to results

Create a continuous development culture for all leadership levels

Ignite company-wide Interest in leadership

Impacts

Studies show that investments in leadership development have a direct positive impact on the following four organizational facets:

Improving financial performance
  • Organizations with high scores for their investments in human capital delivered stock market returns that were five times higher than that of companies with less emphasis on human capital.
Attracting and retaining talent
  • Companies with strategic approaches to leadership development are:
  • 84% more effective at increasing the quality of their leadership pipeline.
  • 73% more effective at improving overall employee retention.
Driving a performance culture
  • 67% more effective at increasing the engagement, retention and teamwork of leaders.
Increasing organizational agility
  • When facing changes in the business environment, 86% of companies with strategic leadership development programs are able to respond rapidly, compared with just 52% of companies with less mature leadership programs.

Building a leadership pipeline through leadership development, continuous learning and comprehensive succession management proactively addresses the demands of an organization's changing workforce − ensuring the right people are in right roles at the right time.