Concurrent Sessions Round I Track A: Case Studies The New Wave of Women s Leadership

Transcription

1

2 Concurrent Sessions Round I Track A: Case Studies The New Wave of Women s Leadership Moderator: Barbara Turvett, Executive Editor, Working Mother Presenters: Danit Schleman, Senior Manager, Inclusion & Diversity, Oliver Wyman Group Kari Gearhart, Director, Executive Leadership Development, Merck & Co. Inc.

3 Concurrent Sessions Round I Track A: Case Studies The New Wave of Women s Leadership Danit Schleman Senior Manager, Inclusion & Diversity Oliver Wyman Group

4 Engagement and Retention Initiatives Overview Fall 2014

5 Turning around the Queen Mary

6 Retention Study: Moving slow to move fast Executive Sponsor BU Study Advisors Singapore Global Study Leaders NY Mini Focus Group Participants Local Interviewers Munich London Global Taskforce Boston Chicago Data Analysis Volunteers Paris SF Toronto Alumni Superconnectors Executive Committee Talent Analytics Leadership Forum Organizers/Participants

7 Retention Study: Participation 1,320 47% Completed surveys including 250 alums Response rate 2,646 Comments from 869 respondents

8 Retention Study: U-shaped curve Happiness with Consulting Across Career Stages High 1 Junior Senior Manager Principal Partner Explorer 2 Career planner 5 Survivor 7 Longtermer 8 Fulfillment seeker 3 Cross road 6 Juggler 4 Fighter Low

9 Retention Study: Issues identified Work-life-balance ability to dedicate time and energy to work and non-work commitments in line with life priorities Career development an individual s journey through the ranks, including training, mentorship, sponsorship, alternative career paths, clear roadmap to partnership Family and career ability of consulting staff to pursue a career at the firm with a family Inclusive environment ability of the organization to respect and utilize diversity, e.g., respect for personal commitments, recognition of contribution, appreciation for individuality, inclusive culture

10 Retention Study Outcomes: Selected Initiatives Work Life Balance Way We Work FlexOW Refresh Flexibility Resource Hub Family and Career Work-life Coaching Flex Success Profiles Work Redesign Career Development Overhaul of Training Curriculum Mid-Year Career Plans Inspiring Leaders Inclusive Environment Investment in I&D Function I&D Reps WOW Networking Events Reverse Mentoring

11 Inspiring Leaders: Program Focus Dual Focus Support Capability Development of Women Leaders Support and develop a pool of high-potential women to pursue a successful career within the firm Grow our pool of senior female role models Enhance Sponsorship Skills of Firm Leaders Develop a larger pool of senior leaders to act as sponsors, to role model, and to cascade their sponsoring interest to a wider leadership group

12 Inspiring Leaders: Program overview 28 pre-partner women were paired with 29 Senior Partners Participants met 3 times over a year and had various assignments in-between meetings The program covered a broad range of topics focused on leadership development and sponsorship Firm leaders participated actively as sponsors, guests, speakers, etc.

13 Inspiring Leaders: Sponsorship Framework Sponsor Sponsee Stakeholders Mentorship Promotion Build a trusting relationship Develop and monitor Advocate Enhance visibility/ open doors The biggest change that happens is developing a trusting relationship so that when a mentor says something which may be quite different from your own expectations, all of a sudden you believe that it s possible. Partner, London My mentor helped me think more broadly and push the boundaries of what I think I can do. I've definitely gotten more confident over the past year. Principal, Dallas My role as sponsor is not just to focus on vanilla facts and answer questions but to position their contribution in the light that they deserve. Partner, New York Because of Inspiring Leaders I was thinking about how to more actively create luck for her. Partner, Boston

14 Inspiring Leaders: Relationships over time It's not about storming in like a white knight to create an opportunity and the job is done. It's a million little things a constant relationship that you build over time. Partner, London

15 Inspiring Leaders: Participant Impact Impact on Future Leaders I finally feel like I have a voice. Principal, Dallas I m more purposeful about my career and wanting to become a partner. Principal, New York I felt for the first time like I was part of something across the firm and it was much clearer for me to see my future in Oliver Wyman. Engagement Manager, Istanbul Everyone's head was nodding, everyone leaned in we became a group that was more similar than not. Principal, Chicago Impact on Sponsors and the Firm It s really a mutual benefit for both of us. I am a better professional and a better person. As a Practice head it s part of my job description. Partner, Paris Partner, Madrid Partner, Dallas It s about creating a firm that is more robust and having someone be more embedded in the firm than before. Partner, Milan

16 Inspiring Leaders: Next Steps Catalyze integration of learnings across the firm Create Sponsorship tool Integrate into core training and HC processes Support business leaders in their own efforts Run the pilot again for men and women with a greater focus on sponsorship across differences Share learnings externally with clients and partners

17 Concurrent Sessions Round I Track A: Case Studies The New Wave of Women s Leadership Kari Gearhart Director, Executive Leadership Development Merck

18 Building a Strong Pipeline of Women Leaders at Merck Work Life Congress Kari Gearhart, Dir., Leadership Learning & Development October 2014

19 Our Mission 19 To discover, develop and provide innovative products and services that save and improve lives around the world.

20 The New Global Landscape & Merck s Response 51 % Of workforce are women Our Response Create a strong pipeline of women leaders to: Increase diversity of leadership to improve business results and leadership 55 % Equal Breadwinners in U.S. Our Response Better reflect the diverse nature of our customer base Increase retention of high potential women 90% Influence Health care decisions Be viewed as an employee of choice for senior women 20 20

21 What I ll cover today The Ecosystem: Building a Strong Pipeline of Women Leaders A Case Study: The Merck s Women s Leadership Program 21

22 It takes an Ecosystem Three Main Elements to Build a Pipeline 1 2 CEO Commitment CEO and Executive Team s visibly monitor progress in gender diversity programs Developing Women as Leaders Learning on the Job (70%) 70% (Learning On-the-Job) Learning Through Others (30%) Learning Through Training (10%) Women s Leadership Development Program 3 Manager Commitment Collective Enablers HR Processes & Policies Monitoring & Tracking Ecosystem elements : Sourced from Women Matter 2010 McKinsey & Co.

23 Program Objectives Create a wide network of senior women who can sponsor and mentor one another The Nominees Increase ability to manage gender differences and subtle microinequities that exist in the culture Strengthen ability to navigate within the organization; negotiate for legitimacy in their roles Sharpen skills and discuss strategies to grow, improve, and position themselves Create a sustainable learning community Director Level, High Potential Benefit from individual assessment, coaching, peer mentoring & networking Cross division/international mix

24 A Partnership: Taking a Challenge to Solution Simmons brings: Merck brings: 1 In-depth needs analysis Initial needs identification 1 2 Customized solutions Sr. Leader Sponsorship & Engagement Expert Faculty and Coaches Executive insights 4 4 Actionable ideas Merck Case Examples

25 Design Structure 4 Months of Integrated and Continuous Learning Phase One Classroom 3 Days Coaching Executive Manager Peer to Peer Phase Two Classroom 3 Days Action Learning Project Work Sr. Leader Engagement & Male Ally Support Sustained Network/Learning Community 25 25

26 Impact The Numbers. 230 Alumni Meaningful - Apply the knowledge and skills learned in this session to the job (L1 Eval. = 4.96/5) Retention: 95% Promotions: 20% in 3 yrs At end of program They re saying I immediately put the tools I learned into practice It feels like I have changed everything about my career, even though I m in the same job I now feel positioned for success and feel like I m creating my own opportunities Months later This program has helped me. Negotiate for what I want Build my credibility and influence - - Articulate the value of my leadership style and attributes

27