GE Healthcare’s Chief Learning Officer believes Talent Development is changing. Bob Cancalosi, GE Healthcare's CLO, shared his thoughts on Long Term Strategic Leadership Advantage (LTSLA) and how organizations can create a corporate culture with a focus on Strategic Leadership Advantage. Effective leadership creates a climate that encourages innovation, growth and creativity that leads to greater productivity. His slides can be accessed below.
We were pleased to see that his slides showed that the differential between the best and average organizations was large and the single most important contributor (35% of the gain) was based upon mentoring and coaching. This was based on research from the Hays Group. Based on these insights, 85% of all future leadership training at GE is expected to be team-based.
In addition to Mentoring and Coaching, Bob has many points worth considering around Collaboration, Conflict Management, Communication and Self-Awareness. A full side deck of his presentation is available through Slideshare by clicking here.
The Hay Group's research focused on five areas for Talent Development and their relative importance in results: 1) Training, 2) Career Assignments, 3) Mentoring and Coaching, 4) B-Schools and 5) Off-The-Shelf Training. The research forcused on Best Performing Companies versus Average Companies.
1) Training - 52% for Best versus 51% for Average. Essentially there was no differential, yet training was required to avoid being below average.
2) Career Assignments - This was the single most important factor, with a differential of 61% vs 35%, but the key is execution and implementation, which are impossible for the CLO to impact through standardized programs.
3) Mentoring and Coaching - 57% vs. 22% - this 35% gain is the low hanging fruit for Talent Development programs.
4) B-Schools - 35% vs 16% The business school education helps develop business planning skills.
5) Off-The-Shelf Training - This seemed most useful to the average performers, with a 1% increase in best performers and a 6% improvement in average companies.
But Bob's key message is that that talent development is changing. CLOs need to be aware of the following changes:
Leadership Development as Strategic output --> Now LTSA is a Strategic Input
Expert utilization --> Communities of Practice and Mentoring
Singular Approach --> Holistic Approach
Mainly USA Driven --> Emerging Market Driven
Social Media Lagging --> Social Media Leading
At GE, it takes three years to identify a High Potential, and another ten to groom him or her for a senior role. So, LTSLA is a core part of building GE's results oriented culture.
Going forward, CLOs will be responsible for the nurturing of the High Potentials and orchestrating the culture which encourages their growth and corporate productivity. They will lead the integration of talent strategy into the business plans. They will find themselves building competencies and developmental curriculum for roles that don’t exist yet.
Bob believes the traditional triumvirate structure of CEO, CFO, Vice President of Human Resources will morph into a new quad structure with the CLO as a key member of the table. The CLO will oversee the development of new processes to help employees find information faster and reduce the cycle time of Discovery to Behavior Change