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Surviving the “Retirement Wave”—Lessons Learned in Preparing the Next Generation of Finance Directors CSMFO Annual Conference San Francisco February 18, 2009 Dr. Frank Benest Palo Alto, CA (650) 444-6261 frank@frankbenest.com
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Let’s Start with 2 Questions: 1.In the minds of line employees and support staff, what are the images of the work of senior management? 2.From your perspective, what are the rewards, benefits, and joys of senior management?
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Overview Demographic Crisis for Local Government Focusing on Talent Development Importance of People Skills Succession Planning Obstacles Ten Lessons Learned Resources and Questions
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The Demographic Crisis The Numbers 80 million Baby Boomers (1946-1964) leaving economy 50 million Gen Xers (1965-1981) replacing them Large “Talent Replacement Gaps”
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Age Distribution of Gov. & Private Sector Workers – 2001
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City of Palo Alto Organization Chart
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City of Palo Alto’s “Retirement Wave” 50% of Management and Professional Employees are eligible to retire in three years 35% say they will definitely retire
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Talent Development The Goals Create “leader-full” organization Develop a pool of talent able and ready to step into leadership positions at top levels and throughout organization
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Talent Development Historic View Talent Development = classroom training Contemporary View Talent Development = series of “stretching” job experiences coupled with helpful and candid coaching
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The Importance of People Skills
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Succession Planning --Key Steps-- 1.Identify key talent 2.Assess readiness to advance 3.Offer array of development opportunities Examples: Cal-ICMA Coaching Program Management Talent Exchange Program Action Learning Teams Interim or Special Assignments 4.Create development plans 5.Monitor progress
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“What are the barriers in my organization to undertaking an effective talent development and succession planning effort?”
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Barriers Early retirement Few monetary incentives to move up No one perceives rewards and joys of leadership “Quiet Crisis” Talent development is not a primary responsibility of senior managers Management is overwhelmed with “adminis-trivia” Few leadership development and coaching programs to support succession planning Over emphasis on technical training and knowledge
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Ten Lessons Learned 1.Ensure leadership from top 2.Make “talent development” a primary responsibility of senior managers 3.Target efforts but make development opportunities available to all 4.Integrate “growing leaders” into strategic plan 5.Go beyond classroom training to provide job experiences that stretch aspiring leaders
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Ten Lessons Learned (con’t) 6.Provide array of opportunities 7.Align all organization systems 8.Partner with governing board and unions 9.Place responsibility on employee 10.Allow mistakes
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Resources Cal-ICMA Coaching Program www.cal-icma.org Municipal Management Associations and/or International City/County Management Association www.mmanc.orgwww.mmanc.org or www.mmasc.orgwww.mmasc.org www.icma.org Management Talent Exchange Program www.cityofpaloalto.org/mtep Contact Frank Benest at frank@frankbenest.com and request : Case Study: Palo Alto’s “Growing Our Successors” Initiative
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Questions? Perplexing Issues? Concerns? Thank you! www.frankbenest.com
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