May 11, 2017Time
7:30AM - 10:30AM ESTLocation
The Congressional Country Club
8500 River Road
Bethesda, DC 20817
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.
7:30 - 8:00 - Registration and Networking
8:00 - 8:15 - Welcome and Introductions
8:15 - 9:00 - SME Presentation
9:00 - 9:30 - Roundtable Discussion
9:30 - 10:00 - Group Discussion and Key Takeaways
10:00 - 10:30 - Closing Remarks and Networking
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:
Thomas A. Stewart - Executive Director, The National Center for the Middle Market
Thomas A. Stewart is the Executive Director of the National Center for the Middle Market, the leading source for knowledge, leadership and research on mid-sized companies, based at the Fisher College of Business and in collaboration with The Ohio State University and GE Capital. Stewart is an influential thought leader on global management issues and ideas: an internationally recognized editor and publisher, authority on intellectual capital and knowledge management, and a best-selling author.
Before joining the National Center for the Middle Market, Stewart served as Chief Marketing and Knowledge Officer for international consulting firm Booz & Company (now called Strategy&), overseeing the firm’s intellectual agenda, major research projects, and strategy + business magazine. Prior to that, he was for six years the Editor and Managing Director of Harvard Business Review, leading it to multiple finalist nominations for a National Magazine Award. He earlier served as the Editorial Director of Business 2.0 magazine and as a member of Fortune’s Board of Editors.
He is the author of two books, Intellectual Capital: The New Wealth of Organizations and The Wealth of Knowledge: Intellectual Capital and the Twenty-first Century Organization, published by Doubleday Currency in 1998 and 2003, respectively. He has contributed chapters to four other books and published articles in Harvard Business Review, Fortune, Business 2.0, the Financial Times, BNET, and elsewhere. A twelve-time participant in the World Economic Forum, he has delivered lectures and seminars across the U.S. and in more than two dozen countries worldwide.
Stewart is a summa cum laude graduate of Harvard College and holds an honorary Doctor of Science degree from Cass Business School, City University London.
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.