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redefining leadership: building tomorrow’s leaders today

Nicole PritchardRegional Manager, Talent Management, AXA Asia

4 June 2012

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Overview

AXA at a glance

Identifying, assessing, and developing AXA Asia’s future leaders

Few tips and building leadership team ownership

Lessons learnt and pointers

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Before we begin...

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Before we begin...

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How do we plan for the future when the world changes so quickly?

How do we build leaders for the unknown future?

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AXA Group Leading Global Insurer and Wealth Manager

Our Mission

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AXA AsiaOur Regional Footprint

As of 31 December 2011

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Leadership at AXA

Globally, AXA recognises leadership as a key business challenge

Henri de Castries, Chairman and CEO, AXA

“We must develop the leadership qualities needed to get the best from every staff in our organization. We need to capture their hearts and minds.”

“Leadership is critical to our success. Indeed, this is the only driver that will help us make the cultural transformation required to engage all of our employees”

Redefining Leadership

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Leadership challenges at AXA Asia

Young companyHigh growth aspirations

(organic & inorganic)

Talent starved market

The need to developleaders at all levels

Importance ofhaving the right

leaders

Rapidly changing markets

Challenges

Hence…

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The Top 20 Research and findings- an external perspective

Three key differences emerged between Top 20 Companies and other survey participants

Leaders lead the way Unrelenting focus on talent Practical and Aligned Programs

Source: Hewitt/RBL Survey

The Top 20 Companies for Leaders Study

Leadership Development Journey

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Business strategy

Leadership skills/

attributes

3a. Quality of bench

strength

3b. Quality/ quantity of

pipeline

4a. Development

planning

4b. Talent pipeline

management

Effective Business

Leadership

1.Begins with deeply understanding the businesses current and future requirements

2. The business analyses its leadership requirements…….

3.Leadership requirements are reviewed against what exists both today and what is needed in the future ………..

4. Actions are initiated to develop and source the right leadership ……..

5. The business is led effectively

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1 & 2. Business strategy translated into key attributes required by future leaders

Leadership success dimensions directly cascaded from business strategy

Embedded within all business processes Regularly reviewed and updated to reflect business priorities Expectations defined across the employee population

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3a. Quality of bench strength

Asia Leadership League Development Centres launched in 2010 to identify and build tomorrow’s leaders:

i) Future country CEOs and Excom: three day Development Centre

ii) Future country Leadership Team members: two day Development Centre

iii) Key young talent: two day Development Centre

Consistent framework defining potential at AXA Asia

Custom designed development centres

Identification and development framework for key talent groups

Consistent across all countries

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3a. Quality of bench strength Assessing future leaders at AXA Asia

Assessing the potential of future leaders to successfully lead AXA Asia is against a defined model and uses a robust, multifaceted approach

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Potential Model

DRIVE

ABI LITY

ENGAGEMENT• Results Orientation• Team Leadership• Change Leadership• Share to Succeed

• Strategic Vision• Building Capability• Focus on Customer• Mental/Cognitive ability• EQ• Learning Agility

• Living Through AXA Values• Rational Commitment

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Structure of the program

Day 1

Introduction Career Dev elopment

Interv iew In-tray exercise Peer Meeting Mini Feedback Learning log Debrief

Pre-centre Indiv idual debrief Self ref lection & Self assessment Online exercises - aptitude tests and personality questionnaire

Day 2

Direct report meeting Customer Meeting Boss Meeting Group exercise

Day 3

Dev elopment workshop Sharing session with Mi ke

Bishop & Bill Henderson Wor kshop on Recei ving

feedback & Lear ning Styles

Feedback (60 min) with f acilitator pairs

Post-centre Indiv idual report summarising key observ ations, strengths and dev elopment opportunities 90-min f eedback session with facilitator pairs Session with line manager to agree dev elopment themes and actions

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3b. Quality/quantity of pipeline

Global standardised annual succession planning and talent review process

Review breadth and depth of talent within all companies in Asia Critical leadership roles Critical professional families

Regional Excom heavily involved

CEOs held accountable for conducting review within their company

Identify concrete development actions

Monitor and review

Organisation and Talent Review (OTR)

Redefining Leadership

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4a. Development Planning

AXA University campuses in Singapore and Paris

Technical and behavioural skill planning & development

Long-term career planning International mobility

Annual individual development planning

Regional Training Needs Analysis linked to strategic business plan

Managers and staff held accountable for development plan execution

Annual career development dialogues conducted with all staff

Short and long term assignments encouraged to develop capabilities

Dedicated facility and faculty designing and delivering customised programmes and forums

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4b. Talent pipeline management

Internal pipeline management External talent mapping

Active monitoring and management of movement of talent within the organisation

Balance buy versus build

CEO, x entity

Candidate A

Candidate B

Candidate C

Candidate D

Candidate E

Candidate F

Candidate G

Review every six months the external pipeline of talent for key roles

Conduct in all countries

Proactive networking and relationship building

Leadership Team2011 People Movements

4 promotions

0 promotion

0 promotion

4 joiners (1 external; 3 internal transfers)- John D- Jane M- Fei X- Alan B

11 joiners (6 external; 5 internal transfer) - Shane B - Dean S- Kevin M - David P-Jim B - Rebecca A-Calvin S - Steve K-Ben P - Ahmed P-Aran P

7 joiners (all external)- Eric P - John J-Ian C - Rob S-Brad S - Lisa M-Stephanie S

x joiners (x external hires, x internal transfers)

2 departures- Gareth M- Albert J

11 departures (9 external; 2 internal transfers)- Ruby C - Clement B- Esther T - Michael F- Mark D - Eric C- Jan T - Cynthia B- Kevin W - Mike W- Daniel Q

x (x departures; x internal transfers)

New Joiners (to 1 Nov)

Principal/Senior Manager (n=x)

Excom (n=x)

PF Leader/SVP-EVP (n=x)

2 lateral moves

Functional Leader/Vice President (n=x)

7 lateral moves

Departures (to 1 Nov.)

8 departures (6 external; 2 internal transfers)- Tony B - Simon G-Kim D - Jean W-Oliver F -Steven S-Tom B -Ellen B

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Retaining future leaders at AXA Asia

Targeted measures are used to retain future leaders Career Track Recognition Development dialogue Development plan execution Market positioning of fixed compensation Long Term Incentive Plans

Senior executives actively manage any derailing / plateauing of

future leaders

Targeted actions to address concerns Role movement Coaching

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Building Executive ownership

A common issue with developing future leaders is gaining CEO & Leadership team ownership

At AXA Asia, engagement and ownership by the Leadership team has been gained by

Annual Talent Sessions: Regional CEO along with Regional HR discusses with

each country annually and reviews the health of future leader pipelines &

development plans Quarterly reviews / Excom Off-sites: Along with the Business Quarterly Reviews,

Regional CEO and Excom review the talent pipeline and development plans

implementation with all countries Assessing and developing future leaders: Senior executives commit significant

time to assess the suitability of identified future leaders, participate as facilitators in

Development Centers along with partnering with them for their development.

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A quick Audit …

Do you know what your leaders of the future look like?

Do you know who your best talent is? Do they know?

Is there a significant difference between their total compensation and the average performers in their position?

What developmental opportunities do high potential leaders get compared to other leaders?

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Building tomorrow’s leadersA few tips on what we can do…

Initiate one on one CEO dialogue with the identified

talent

Develop high-potential development programs

Create assignment-based development programs

Develop "on-boarding" programs to ensure success

in new roles

Link high-potential status to total compensation

review

Track high-potential growth to identify best growth

paths

FewTips

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The Right Programs, Done RightShort-Term and Long-Term Opportunities

What can we Do Today

Assess - Ask senior team for feedback on current processes for developing leaders

Prioritize - Identify the 3 things that the company absolutely must do this year to build leadership depth and quality

Compare - Understand how the programs compare to those of the Top 20

Audit - Determine the total dollars spent by the organisation on developing leaders; assess return

Longer Term Actions Leadership Strategy -

Develop a holistic leadership

strategy outlining how to

source, align, develop and

reward leaders Implementation Audit -

Assess capabilities to

effectively implement

leadership programs Create the Practices –

Create and implement those

practices with the greatest

leverage for building leaders

FewTips

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Lessons learnt at AXA

Gain leadership team ownership early on

Identify the “right” leaders

Give future leaders the job and resources they need to

succeed

Support, develop and encourage future leaders

Reward and empower

Be prepared to “Let them soar high”

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Closing questions to ponder upon

Based on our conversation today . . .

Where do you see the greatest areas for improvement in your approach to building leadership depth and quality?

How committed is your CEO and Leadership Team members to build strong leaders?

What barriers exist to implement new leadership practices or processes?

Redefining Leadership