The Modern Workforce - LASA National€¦ · How to future proof your career and your organisation. Julie Colvin Partner, Derwent Executive 3rd May 2018. 2 ... Leadership succession

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The Modern WorkforceHow culture, leadership and skills have shifted.

How to future proof your career and your organisation.

Julie Colvin

Partner, Derwent Executive

3rd May 2018

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Introduction

Derwent Executive

Derwent Executive is an established leader in Executive Search, Board Appointments and Talent Advisory. We

specialise in Board, CEO, C-Suite and Senior management appointments across sectors. We have over twenty years

of expertise across a range of industries and a strong regional presence. Our focus is to provide high calibre talent

and effective strategic guidance to help our clients build strong, dynamic and sustainable organisations.

Derwent’s specialist industry practices include Health & Not for Profit, Public Sector, Infrastructure, Digital,

Professional Services, Financial Services, Industrial, Education and Retail & Consumer.

Julie Colvin, Partner

Julie is a founding member and Partner of Derwent Executive in Perth. Julie has extensive experience in

recruitment and talent management, within international firms, focused on the Western Australian

market. This includes leading the recruitment of Chair and Non-Executive Board appointments, CEO,

Executive and C suite level mandates.

Julie has built her reputation on understanding the culture, business drivers and strategies of her clients

resulting in the successful placements of individuals who are able to drive future success and sustainability whilst

leading cultural change and broader transformation. Julie works closely with organizations on Board, CEO and

Leadership succession along with the establishment of newly formed Boards and Management teams.

Julie is a Chartered Accountant who commenced her career with PwC in Perth prior to working across healthcare,

resources, oil and gas and professional services in senior finance roles in London and Perth. She subsequently

supported the establishment of Michael Page in Perth. Julie is a key member of the Derwent National leadership

team and industry leader in Perth with a focus on supporting organizations to develop highly function and diverse

thinking Boards and Executive teams.

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What is Driving Change?

• Focus by the board on culture and strategic outcomes and changes to these

• Changes in the Boardroom (composition, skill sets, expectations)

• Changes of funding models and client/consumer expectations

• Ownership changes, private equity and commercial entities entering the sector

• Society/Business expectations: A modern day leader looks very different from what

they used to look like

• Career step changes: Boardroom, CEO, C-Suite Executive, Technical Manager

(What got you here may not get you there)

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Questions from the Boardroom

In a recent AICD Magazine there was an article on board involvement in talent

discussions.

“For Boards, talent should be widely discussed”

“A people strategy should be at the forefront of the CEO’s mind, if it’s not, it’s

something the board should be asking for”

“Culture is too important for the Board to limit their exposure to the Boardroom

only”

Suggested questions for Boards include:

• What is the talent strategy that supports our business?

• Which trends are affecting our organisations talent and how is this affecting our

strategy?

• How are we developing our talent to produce strong candidates for succession to

Executive positions and throughout the organisation?

• How do we address succession?

What got you here, may not guarantee future success

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• Recognise when step changes happen within an organisation/your career:

• When do these occur:

• Line role to Manager

• Manager to Executive

• Executive to CEO

• CEO to Board

• What are they:

• A way of thinking (your role, your team, your company, and beyond)

• A way of delivering (through yourself, through others – empowerment,

delegation, leadership)

• The way you interact with others (internally and externally)

• The way success is measured

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All levels now play a key role in:

• Performance - Strategy, management and performance of the organisation

• Culture - Contributing and shaping the organisational culture

• Leadership - Developing internal competencies of teams

• Stakeholders - Building and strengthening effective stakeholder relationships with

key Stakeholders

• Business Management - Effective and efficient management of the business

• Sustainability - Overall sustainability and growth of the business

• Reporting relationships - Working with the Board, executive and key Stakeholders

(external and internal) to develop and deliver effective strategies reflecting the

growth and needs of the business

• KPI’s - Leading and directing whole of business or your areas of the organisation to

achieve short and long term business objectives as directed by the Board/CEO

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How to Build Strong and Capable Teams

• Be thoughtful in what a strong and capable team looks like for you

• What does your business and your team need now and in the future

• Do create diversity in your team (diversity of thought, gender, skill set, age, background)

• Don’t create a team that all look like you or look exactly like the team was previously

• Review position descriptions, position KPI’s, selection criteria and selection panel

• Consider the trade-offs between:

• Skills and experience

• Attitude and aptitude

• There is a new wave of people entering the sector with fresh ideas and different skill sets

• Be thoughtful in what, and who, is your ideal target profile

• What will attract that individual

• What is going to retain that individual

• You need to assess them but they are also assessing you

• Recognise what is motivating new entrants to the sector

• Be mindful of culture and actions, not just what people say and present at interview

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Timeline for senior appointments

CEO Position Description

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Position Overview

The Chief Executive Officer reports to the Board and has overall responsibility for the strategy, management and performance of the organisation. The CEO plays a key role in shaping the organisational culture, developing internal competencies and building and strengthening effective stakeholder relationships key stakeholders.

This position is primarily responsible for:

• Ensure the effective and efficient management of the business

• Ensuring the overall sustainability and growth of the business

• Working with the Board, executive and key stakeholders to develop and deliver effective strategies reflecting the growth and needs of the business.

• Leading and directing the organisation so as to achieve short and long term business objective as directed by the Board.

• Develop and maintain strong relationships with key stakeholders

Key ResponsibilitiesLeadership• Champion a safe work environment and ensure safe working practices and procedures are in place to protect employees from injury• Act as a role model and ensure all activities of the Company comply with relevant legislation, the Company’s values and code of conduct• Energise and motivate the executive and broader team• Select, lead and develop a strong team of direct reports in such a way as to enable them to achieve their core objectives• Monitor performance of key executives and regularly review progress against objectives• Ensure a lean organisation with a highly productive and capable workforce that is well trained, motivated and adding value• Establish lines of control and delegate responsibilities to key executives and staff• Develop and maintain effective communication systems within the Company for employees, customers and stakeholders• Provide overall direction and management of key functions, resources, assets and people• Ensure optimal use of assets, materials and people to achieve goals and resolve any conflict between areas of responsibility• Represent the Company in its relationships with major customers, bankers, the community, government bodies and professional groups

Strategy and Planning• Create a vision for the Company and lead the development of a strategic plan around key business drivers• Drive the implementation of the strategic plan with short and long term objectives and KPIs clearly articulated and communicated• Examine economic and market trends and conditions as they affect the Company and modify plans, guidelines, policies and direction to suit changing

circumstances• Direct and oversee the preparation of consolidated budgets, forecasts and profit analysis and present with recommendations to the Board• Appraise the activities of the organisation based on agreed strategies and objectives and monitor and evaluate performance • Develop plans to improve performance and drive growth and regularly present current and long-term plans, analysis and performance against objectives to the

Board• Plan and direct negotiations relating to mergers, approvals, acquisitions and sales under guidance and approval from the Board

CEO Position Description Continued

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Financial• Ensure the financial soundness of the company by reviewing financial arrangements, capex, working capital and profitability • Direct the Company’s operations within established guidelines and authority delegated by the Board of Directors• Ensure a comprehensive risk management framework is implemented and executed across all aspects of the business• Direct and authorise remuneration arrangements for senior executives and approve overall remuneration plans for other employees, in conjunction with the

O& R Committee• Oversee the development and implementation of activities to protect the Company’s funds invested and the interests of the business• Ensure the security and development of assets and resources

Key Result Areas• EBIT/Profit after tax• Market share position• Business performance• Appropriate strategic business planning process• Quality of management team • Effective and timely communication standards• Ensure accuracy, timeliness, quality standards kept in all statutory and stakeholder requirements• Ensure compliance with all statutory and legal requirements including OH&S and environmental issues• Mission alignment

Qualifications and Experience• Tertiary and/or post-graduate qualifications• Several years proven successful experience in managing and leading a Company or large business unit with profit and loss responsibilities in a relevant business• Fix it or turnaround experience with associated culture change management and cost reduction experience• Sales, Marketing, Finance, HR, Product Development, Distribution/Manufacturing functional experience or exposure to and experience interstate/overseas• Exposure to M&A situations

CEO Position Description Continued

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CompetenciesBusiness Acumen & Execution• Has strong business acumen and stays informed on critical aspects of the business• Values short term and long term results and has the skill and time commitment to balance both• Diagnoses the degree to which the organisation is performing at full potential and identifies improvements to be implemented• Seeks and uses the latest information from the most important sources (customers, suppliers and employees) on the state of the Company• Action and results orientation

Catalyst for Setting Strategic Direction• Creates and communicates a compelling vision and sense of purpose• Has the strategic acumen to drive the business forward• Identifies assumptions about the changing nature of the industry, and what business models are needed for success

Managing the External Environment• Understands the agenda of all stakeholders and communicates well with Board members, educating them so they can provide informed advice• Has a strong “global” perspective on the business and is aware and active in solving the “global” problems (environment, safety, competitive threats, etc) that

confront the Company• Knows and understands key interest groups such as customers, suppliers, government agencies and media

Maximises the contribution of employees• Drives management development, keeps Company focused on selecting, developing and retaining high performers• Builds teams, establishes a productive and enthusiastic team• Energises employees, communicates in ways that energises large and diverse groups of employees, fosters employee recognition• Models positive relationships and exhibits charisma and persuasion • Genuinely appreciates contributions of employees and sets positive tone for how people will work together

Executive Capability• Experienced in adversity, has the emotional intelligence to make unpleasant decisions• Is comfortable with uncertainty, can manage and embrace change and use it to the organisation’s advantage• Solicits and is open to hearing bad news, handles criticism effectively and does not act threatened or get overly defensive• Learning orientation, seeks out experiences that may change perspective or provide opportunity to learn new things• Has the courage to take risks and learns from mistakes• Is proficient at thinking deeply about the business and the complexities of being a Chief Executive Officer• Is self confident and effectively communicates to diverse Stakeholders• Has ethics and integrity and acts in the best interest of the Company

Sourcing of Talent –Where do you look

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Candidate Sourcing: There are a wide range of approaches – you need to make

a decision on each role on internal sourcing capability versus external sourcing

capability.

Professional networks: Tapping the passive or inactive candidate - Engage networks to

identify and profile suitable candidates for an opportunity, who may otherwise not actively

be looking for a position.

Databases:Your own or search/recruitment firms - look for those that have a reputation in

the sector and job type. Do you have a way of recording direct approaches?

Advertising: Is your Brand well recognised and trusted. Will it attract quality responses

from active and passive candidates. Are you going through an evolution which means the

target audience may have a different understanding of who you are and where you are going.

On-line vs press. (Linked-in, Seek, other)

Target Sector and Company Research: Is there identified relevant market segments,

companies and teams in terms of their operations, results and culture that should be

potential targets for you.

Stages of Assessment

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• Application assessment

• Interview assessment

First round interview question focus

• Innovation and change

• Leadership

• Strategy

• Industry knowledge

• Technical skills

Case study presentations

• “Congratulations you have been appointed – talk us through what your 90 day-

plan will look like or what it will include”

• “Informal meetings” with others in the business, “coffee catch-ups”

First Interview Assessment Table

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CEO Recruitment

Competency

Assessment Candidate A Candidate B Candidate C Candidate D Candidate E

Strategic Leadership

Cultural Leadership

Stakeholder management and

savvy with regards to

political/regulated

environments

Communication Skills

Commercial Acumen

Experience as a change agent or

in leading transformation

X Factor

Total

Score rating

3 Exceeds

2 Meets

1 Not Met

Second Interview Assessment Table

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Score rating

3 Exceeds

2 Meets

1 Not Met

CEO Recruitment

Competency Assessment

Ability to drive accountability

Ability to break down silos

Ability to set and implement

strategy

Ability to lead transformation

Ability to create a modern

organisation that is:

Flexible

Outward looking

Competitive

Innovative

Total

Case Study Key Competencies

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Competency Assessment Level Assessed Comments (incl. follow-up required)

Not Met Met Exceeds

Conceptual Thinking – Quickly identifying key issues, seeking

relationships and drawing elements together into broad

coherent frameworks.

Decisiveness – making timely decisions, rendering

judgements, taking action where appropriate and committing

to a position.

Tolerance for Ambiguity – effectiveness in coping with

change, shifts gears comfortably, can handle risk and

uncertainty. Can act decisively without having the total

picture.

Critical Information Seeking (Priority Setting) – gathering

critical information from key sources to assist problem solving.

Once selected what next?

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• Onboarding (set up for success). If new to the sector be thoughtful in how you

can assist in this transition

• Allow the individual to deliver what they were recruited to do

• If it is an internal promotion, allow the person to move across into the role, backfill

the old role, support them appropriately (if it’s you don’t expect to be able to do

your old role and the new one too, don’t under recruit your current position)

• Allow the position to look and feel different

• Ask the question – What is this role here to deliver? Who does it impact? How

does it impact the business? Is it adding value to the business?

• Look for different and innovative ways of delivering and working across the

business and with stakeholders (internal and external).

Retention

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• Understand what motivates individuals not just the team as a whole? How does

this affect their performance and retention?

• Culture

• Opportunity (business and personal)

• Ability to influence outcomes or deliver results

• Ability to lead a team

• Relationships with stakeholders

• Financial (business and personal)

• Are they learning new skills/being challenged

• Is the role meeting their expectations or what they want out of their career

• The ability to manage the individual not just the team is vitally important

• Core values – respect, integrity, dignity, honesty

• People join companies – they leave individuals (and leadership teams)