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redefining leadership: building tomorrow’s leaders today Nicole Pritchard Regional Manager, Talent Management, AXA Asia 4 June 2012. Overview. AXA at a glance Identifying, assessing, and developing AXA Asia’s future leaders Few tips and building leadership team ownership

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slide1
redefining leadership: building tomorrow’s leaders today

Nicole Pritchard

Regional Manager, Talent Management, AXA Asia

4 June 2012

overview
Overview
  • AXA at a glance
  • Identifying, assessing, and developing AXA Asia’s future leaders
  • Few tips and building leadership team ownership
  • Lessons learnt and pointers
slide5

How do we plan for the future when the world changes so quickly?

How do we build leaders for the unknown future?

axa asia our regional footprint
AXA AsiaOur Regional Footprint
  • As of 31 December 2011
leadership at axa
Leadership at AXA
  • Redefining
  • Leadership

Globally, AXA recognises leadership as a key business challenge

  • “Leadership is critical to our success. Indeed, this is the only driver that will help us make the cultural transformation required to engage all of our employees”
  • “We must developthe leadership qualitiesneeded to get the best fromevery staff in ourorganization. We need to capturetheirhearts and minds.”

Henri de Castries, Chairman and CEO, AXA

leadership challenges at axa asia
Leadership challenges at AXA Asia

Young company

High growth

aspirations

(organic & inorganic)

Challenges

Rapidly changing

markets

Talent starved

market

Importance of

having the right

leaders

The need to develop

leaders at all levels

Hence…

the top 20 research and findings an external perspective
The Top 20 Research and findings- an external perspective

Three key differences emerged between Top 20 Companies and other survey participants

  • Leaders lead the way
  • Unrelenting focus on talent
  • Practical and Aligned Programs

The Top 20 Companies for Leaders Study

Source: Hewitt/RBL Survey

leadership development journey
Leadership Development Journey

1. Begins with deeply understanding the businesses current and future requirements

2. The business analyses its leadership requirements…….

Leadership requirements are reviewed against what exists both today and what is needed in the future ………..

4. Actions are initiated to develop and source the right leadership ……..

5. The business is led effectively

3a. Quality of bench strength

4a. Development planning

Effective Business Leadership

Leadership skills/

attributes

Business strategy

3b. Quality/ quantity of pipeline

4b. Talent pipeline management

1 2 business strategy translated into key attributes required by future leaders
1 & 2. Business strategy translated into key attributes required by future leaders

Leadership success dimensions directly cascaded from business strategy

  • Embedded within all business processes
  • Regularly reviewed and updated to reflect business priorities
  • Expectations defined across the employee population
3a quality of bench strength
3a. Quality of bench strength

Consistent frameworkdefining potential at AXA Asia

Custom designed development centres

  • Asia Leadership League Development Centres launched in 2010 to identify and build tomorrow’s leaders:
  • Future country CEOs and Excom: three day Development Centre
  • Future country Leadership Team members: two day Development Centre
  • Key young talent: two day Development Centre
  • Identification and development framework for key talent groups
  • Consistent across all countries
3a quality of bench strength assessing future leaders at axa asia
3a. Quality of bench strengthAssessing future leaders at AXA Asia

Assessing the potential of future leaders to successfully lead AXA Asia is against a defined model and uses a robust, multifaceted approach

3b quality quantity of pipeline
3b. Quality/quantity of pipeline
  • Redefining
  • Leadership

Organisation and Talent Review (OTR)

  • Global standardised annual succession planning and talent review process
  • Review breadth and depth of talent within all companies in Asia
      • Critical leadership roles
      • Critical professional families
  • Regional Excom heavily involved
  • CEOs held accountable for conducting review within their company
  • Identify concrete development actions
  • Monitor and review
4a development planning
4a. Development Planning

Technical and behavioural skill planning & development

AXA University campuses in Singapore and Paris

  • Dedicated facility and faculty designing and delivering customisedprogrammes and forums

Long-term career planning

International mobility

  • Short and long term assignments encouraged to develop capabilities
  • Annual career development dialogues conducted with all staff
  • Annual individual development planning
  • Regional Training Needs Analysis linked to strategic business plan
  • Managers and staff held accountable for development plan execution
4b talent pipeline management
4b. Talent pipeline management

Internal pipeline management

External talent mapping

Candidate A

CEO, x entity

Candidate G

Candidate B

Candidate F

Candidate C

Candidate E

Candidate D

  • Review every six months the external pipeline of talent for key roles
  • Conduct in all countries
  • Proactive networking and relationship building
  • Active monitoring and management of movement of talent within the organisation
  • Balance buy versus build
retaining future leaders at axa asia
Retaining future leaders at AXA Asia
  • Targeted measures are used to retain future leaders
    • Career Track
    • Recognition
    • Development dialogue
    • Development plan execution
    • Market positioning of fixed compensation
    • Long Term Incentive Plans
  • Senior executives actively manage any derailing / plateauingof future leaders
    • Targeted actions to address concerns
    • Role movement
    • Coaching
building executive ownership
Building Executive ownership

A common issue with developing future leaders is gaining CEO & Leadership team ownership

  • At AXA Asia, engagement and ownership by the Leadership team has been gained by
    • Annual Talent Sessions: Regional CEO along with Regional HR discusses with each country annually and reviews the health of future leader pipelines & development plans
    • Quarterly reviews / Excom Off-sites:Along with the Business Quarterly Reviews, Regional CEO and Excom review the talent pipeline and development plans implementation with all countries
    • Assessing and developing future leaders: Senior executives commit significant time to assess the suitability of identified future leaders, participate as facilitators in Development Centers along with partnering with them for their development.
a quick audit
A quick Audit …
  • Do you know what your leaders of the future look like?
  • Do you know who your best talent is? Do they know?
  • Is there a significant difference between their total compensation and the average performers in their position?
  • What developmental opportunities do high potential leaders get compared to other leaders?
building tomorrow s leaders a few tips on what we can do
Initiate one on one CEO dialogue with the identified talent

Develop high-potential development programs

Create assignment-based development programs

Develop "on-boarding" programs to ensure success in new roles

Link high-potential status to total compensation review

Track high-potential growth to identify best growth paths

Building tomorrow’s leadersA few tips on what we can do…

Few

Tips

the right programs done right short term and long term opportunities
What can we Do Today

Assess- Ask senior team for feedback on current processes for developing leaders

Prioritize - Identify the 3 things that the company absolutely must do this year to build leadership depth and quality

Compare - Understand how the programs compare to those of the Top 20

Audit - Determine the total dollars spent by the organisation on developing leaders; assess return

Longer Term Actions

Leadership Strategy - Develop a holistic leadership strategy outlining how to source, align, develop and reward leaders

Implementation Audit - Assess capabilities to effectively implement leadership programs

Create the Practices – Create and implement those practices with the greatest leverage for building leaders

Few

Tips

The Right Programs, Done RightShort-Term and Long-Term Opportunities
lessons learnt at axa
Lessons learnt at AXA
  • Gain leadership team ownership early on
  • Identify the “right” leaders
  • Give future leaders the job and resources they need to succeed
  • Support, develop and encourage future leaders
  • Reward and empower
  • Be prepared to “Letthem soar high”
closing questions to ponder upon
Where do you see the greatest areas for improvement in your approach to building leadership depth and quality?

How committed is your CEO and Leadership Team members to build strong leaders?

What barriers exist to implement new leadership practices or processes?

Closing questions to ponder upon
  • Redefining
  • Leadership

Based on our conversation today . . .