May 3, 2017Time
7:30AM - 10:30AM Pacific Time (US & Canada)Location
The Pacific Club
4110 MacArthur Boulevard
Newport Beach, CA 92660
CPE Credits: 3
Field of Study: Business Management & Organization
Hosted by The CFO AllianceCost: Free for Executive Members
Registration for this event is closed.
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 and C-Suite Executives, Stakeholders, and 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.
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:
Doug Farren - Associate Director, The National Center for the Middle Market
Doug Farren joined The Ohio State University Fisher College of Business after an 11-year career at Limited Brands, where he most recently served as senior manager of supply chain planning. His responsibilities included developing the supply chain network and planning/allocation functionality for inventory to support three distinct international store channels. Farren started with Limited Brands as a summer intern while completing his MBA in Operations and Logistics Management at Fisher. Farren’s previous experience includes work for Six Sigma Qualtec, a process improvement consulting firm based on Scottsdale, Arizona. His primary functions included marketing strategy, new client relationships, and on-site training and implementation. As part of his responsibilities, he was certified in 1998 as a Six Sigma Black Belt in Transactional Quality. Farren holds a Bachelor of Science in Marketing from Penn State University, where he was a member of the football team as an athlete and student assistant under Joe Paterno. He is an active member of the Penn State Football Letterman’s Club.
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.
From the 2017 Annual CFO Sentiment Study. This is an infographic with some key findings of how CFOs are responding to the Talent Equation.
This presentation was used for the roundtable at the Pacific Club in Newport Beach on May 3, 2017. Doug Farren from the National Center for the Middle Market facilitated this session.
This article was created by the National Center for the Middle Market and discusses how middle market companies can establish an effective employer brands and employee value proposition.