June 7, 2017Time
7:15AM - 10:00AM Pacific Time (US & Canada)Location
Los Altos Golf & Country Club
1560 Country Club Drive
Los Altos, CA 94024
CPE Credits: 3
Field of Study: Personal Development
Hosted by The CFO AllianceCost: Free
Registration for this event is closed.
The CFO Alliance, a community of financial leaders and experts who share their experience, knowledge, and wisdom.
Talent is crucial to the success of any business. Talent planning plays 2 essential roles ensuring:
(1) that companies have the highest quality people in critical roles, and
(2) that they have a plan in place to fulfill their talent needs as the company grows and changes. Talent planning is an overarching concept that identifies key positions and players, understanding skills gaps, and creates succession plans to keep crucial roles filled today and in the future.
We invite Finance Executives and their HR counterparts for an interactive Roundtable Discussion as we discuss how organizations are leveraging technology and partnering with other functional leaders to empower high performance across the enterprise. Together we will define the framework to cultivate a culture of innovation and what is needed to create high performance teams to deliver competitive advantage.
7:15 - 7:45 - Registration and Networking
7:45 - 8:00 - Welcome and Introductions
8:00 - 8:45 - SME Presentation
8:45 - 9:30 - Roundtable Discussion
9:30 - 10:00 - Group Discussion and Key Takeaways
If your business wants to successfully compete for the best talent on the market, then it needs a plan. According the National Center for the Middle Market’s latest research, that plan works best when it’s both formalized and comprehensive in nature. It other words, middle market firms can benefit from a systemic framework for performing multiple talent planning activities—such as identifying high potential employees, identifying skills gaps, and bench strength analysis for key positions—in a coordinated way.
Value in Participation
Learn how to change your approach to talent planning strategy from the perspective of risk reduction, to the lens of risk optimization. In other disciplines, such as investment, risk is viewed differently not as, “How can we avoid risk?”, but “How do we find opportunity in risk?”. The risk of a wrong hire, the risk of hiring too soon, or the risk of not having the business to support the new hire. However, think about the opportunity of hiring an additional team member. That’s a tradeoff that very often doesn’t get a lot of discussion in organizations.
The CFO Alliance’s research demonstrates a strong correlation between superior talent planning and overall company growth and performance. Companies that do talent planning well—specifically those companies that have a formal talent planning process in place, engage in a comprehensive assortment of talent planning initiatives, and encourage involvement in the talent planning process by senior executives and top line executives—tend to be among the fastest growing and best performing companies in the middle market.
FACT: The fastest growing, best performing middle market businesses place more importance on talent planning than their slower growing peers, and are more likely to engage in talent planning activities.
Companies that enjoy annual revenue growth of 10% or more are significantly more likely than slower growing organizations to say they perform very or extremely well at talent planning initiatives, such as identifying critical positions and can’t-lose players within the organization, and engaging senior and line management in the talent planning process.
As firms grow, they tend to place greater emphasis on talent planning and to adopt more formalized talent planning processes.
Businesses with private equity investment are also more likely to follow guidelines for talent planning, while many family-owned businesses keep the process relatively informal.
Large middle market firms are more concerned with aligning talent and business strategy, and smaller middle market companies focus more on identifying and retaining their can’t-lose players.
About Our Facilitator:
Nick Araco Jr. - Chairman and Founder of The CFO Alliance
He is considered the voice of the “middle market” CFO and one of the industry’s most prominent business, career and life ‘Connectors.’ Recently named one of the Philadelphia region’s ’40 Under 40,’ Nick has spent over 15 years cultivating and educating his ever-growing professional network. Before launching AchieveNext and The CFO Alliance, Nick served in a leadership role for a national firm helping companies work through issues and connecting them to other finance executives. Prior to that, Nick established and led a human capital firm. Nick began his career as a practicing attorney.
Nick has a Bachelor of Business Administration degree, with a concentration in Finance, from Loyola College in Maryland. He earned his law degree from Widener University School of Law and lives outside of Philadelphia with his wife and three children.
Talent planning is a broad category that includes activities such as succession planning, talent review, human resource planning, bench strength analysis, staffing, development, and performance management.
This event is part of the CFO Discussion: Human Capital Strategies Discussion. Join the discussion today and share your voice.
This is an excel file of the Leadership Bench Strength Assessment that you can utilize for your business that was presented in Los Altos!