The Role of the Board in Site Selection and Talent Development · Panelists Mike Eickhoff Managing...

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The Role of the Board in Site Selection and Talent Development November 10, 2016

Transcript of The Role of the Board in Site Selection and Talent Development · Panelists Mike Eickhoff Managing...

The Role of the Board in SiteSelection and Talent Development

November 10, 2016

Panelists

Mike EickhoffManaging Director of Property Tax & Incentives, Grant Thornton

Karen McDonaldHead of Talent Management, Zurich North America

Joy RothschildChief Human Resources Officer, Omni Hotels

Meredith O’ConnorInternational Director, Jones Lang LaSalle

Jesse PanuccioPartner, Foley & Lardner LLP

Steve HilfingerPartner, Foley & Lardner LLP

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PART I

TALENT DEVELOPMENT

Is talent management a board priority at your company?

– More than a Board Priority, it is a Core Value of our Company:

Leaders Creating Leaders

Omni Hotels Board Plays an Active Role by: participating in interviews for toppositions

– Mandating cultural fit is equal to qualifications

– Supporting investments in training and development for High PotentialTalent

– Ensuring that succession plans exist for all Director level positions

– Ensure the risks and consequences of changes in the executive team areknown and mitigated

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Omni Hotels Talent Strategy

Strategic Priority

– Leaders are held accountable for their performance within the framework ofthe strategy

– Executive in Development Platform; next “on deck” leaders exposurethrough Task Force assignments and Board Meeting Attendance/Exercises

Evolves based on changing workforce demographics –

– Tailoring Talent Development Programs and Policies to Millennialsexpectations and abilities

Is personalized

Leaders are expected to interact with high potential talent while traveling

Corporate Outreach to high potential talent on a regular basis

Dedicated resources for high potential talent development

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Omni Hotels Talent Strategy

Is one of our Core Values: “Leaders Creating Leaders”

Is a collaborative process

– All property level directors and executives are screened at the corporatelevel to insure they have “runway” for future leadership and corporate roles.

– Top Executives at Hotels and for Corporate Office are screened by the BoardMember(s)* and Ownership.

– “All or nothing” strategy insures global support.

Is reinforced through metrics and recognition

– Dick Mason Award given annually to the leader who most exemplifies thespirit of career development

– Ideal Mentor Award awarded annually to the leader who showsextraordinary effort to mentor high potentials

– People’s Choice Award for executive with highest level of engagement,retention and talent development

– Monthly Board Meeting reports on Talent Acquisition and Retention

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*Everyone on our Board works for the company or holding company as we are privately held

Talent Management Monthly and YTD Metrics-Reported Globally, By Division, By Property Type

Promotions

Retention

Executive turnover

Manager turnover

Managers in Active Development

Hire Sources

Mission critical positions and status

New builds and impact on talent pipeline

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Talent Management supports the execution of all Group Strategy throughour people

Enablers ofour success

• Reduce complexity

• Improve operatingprofitability

• Invest in our people,capabilities and the brand

Zurich People Vision

We aspire to unleashthe full potential ofour people

Strategic Priorities

2014-2016

We develop talentsand leaders, driveengagement andenhance our robustfoundation

Great Leaders2

High Engagement3

Right Talent

Robust Foundation4

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Talent Management at Zurich Financial

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Business Review:• Understanding of current business landscape

& strategic imperatives

Evaluation by Manager:

• 9box grid

• Succession Planning

Further preparation by Manager:

• Clarity on role profile and criticalexperiences required

• Career Aspirations

• Etc.

Talent Reviews

• Local, Regional, Functional and Global

• People Days

Follow up

• Clear action lists with development needs,agreed activities, responsibilities, deadlines

Outcomes and Actions:

• Feedback

• Career Development Discussions

• Individual Development Plans

• Development Actions

• Assessments / 360° Feedback

• Follow up on agreements

Talent Review Preparation

Identifying the health of thetalent pipeline against the

business strategy

Talent Reviews

Local, Regional, Functionaland Global Talent Reviews

discussing Talents

Talent Development

Matching career aspirationsand development actions

PART II

SITE SELECTION

Site Selection: Key Considerations

1) Talent Pipeline

2) Physical site

3) Tax & regulatory environment

4) Logistics

5) Quality of Life

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Site Selection: Key Considerations

1) Talent Pipeline

– Existing labor supply

Use local government resources or consultant

– Education resources & future talent

Will local institutions work with company to developappropriate talent?

– Incumbent worker training grants

– Don’t overlook the military pipeline

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Site Selection: Key Considerations

2) Physical Site

– Land use entitlements

– Utilities

– Access – roadways, railways

– Brownfield incentive

– Speed to market is Key

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Site Selections: Key Considerations

3) Tax & Regulatory Environment

– Must understand state and local environment

– Look past incentives to the overall tax structure

– Understand the regional demographics and howpolitics might change in short and long term

– Regulating environment including environmentalpermitting, land use entitlements, buildingcodes, transportation easements, and more

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Site Selection: Key Considerations

4) Logistics

– Critical to understand the current and futurecosts of moving people and goods to the site

– If new project is a major employment anddevelopment driver, are state and localgovernments committed to building necessarytransportation infrastructure?

– Future plans of sea ports, air ports

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Site Selection: Key Considerations

5) Quality of Life

– Does proposed site offer the quality of lifeamenities that will attract and retain talent?

– Housing choice

– Quality schools

– Recreational options

– Millenial focus? Will their tastes persist?

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Location Advisory & Economic Incentives

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Approach and Process: IntegratedAnalysis

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Approach and Process: IncentivesNegotiation

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Incentives negotiation can take as little as 8 weeks, and typically run parallel with real estatedue diligence