Chief Learning Officer - March 2008 - (Page 48)

human capital Managing Career Paths: The Role of the CLO Mike Brennan and Andrew Gebavi These days, learning leaders are leading more than just learning. As they take on the broader issue of talent management, these executives have to give some consideration to how people progress through the organization and how development can support that advancement. Despite the threat of an economic slowdown, the demand for people with exceptional abilities and transferable skills will exceed the supply for years to come, particularly in today’s dynamic and increasingly global business environment. Indeed, we are in the early stages of the “War for Talent,” forewarned by McKinsey & Co. in the mid-1990s. For some organizations, the shortage of skilled executives, middle managers and individual contributors in critical roles already is having quantifiable ramifications — from decreased production capacity to drops in customer satisfaction. The most acute problems are in health care, financial services, industrial manufacturing and some segments of the professional services sector. The groups that succeed will be those who keep in mind not only the business’ demands for talent, but also the career demands of today’s workforce. After all, the macroeconomic trends driving the talent shortage also are producing unprecedented opportunities for people who know how to seize them. Think about it: The retirement of baby boomers means job openings. The globalization driving many organizations’ top-line growth means promotions and lateral assignments overseas for high-potential people. If employees at your organization cannot find or do not feel they are being prepared to take on such roles, they will likely look elsewhere. A survey conducted by NYU’s School of Continuing and Professional Studies in 2006 showed that New York professionals — who, while not a global sample, certainly are a representative microcosm — expected, on average, to change careers (not merely “jobs”) three times in their life. Only 28 percent of the sample expected lifelong careers. Why is this? For one, organizations have flattened during the past few decades, pushing responsibilities outward rather than simply up a management hierarchy. In addition, today’s multigenerational workforce knows it cannot count on defined pensions from employers upon retirement. Couple this with longer life spans and the ubiquity of technologies and services that enable self-directed career explo- Manage Talent, Manage Careers For the organization, attracting top candidates from the outside is increasingly difficult and expensive. Therefore, companies facing this reality are moving en masse to implement talent management strategies with a focus on developing their existing employees to address the skills and knowledge gaps as a complement to their external talent acquisition efforts. As a learning professional, you already may find yourself on a talent management committee with your counterparts in other HR functions, such as recruiting and compensation. If so, you are not alone. Many organizations have tasked such groups to make strategic investments that put the best people in suitable roles at the right time to drive performance. March 2008 I www.clomedia.com I Chief Learning Officer 48 Mike Brennan and Andrew Gebavi are principal consultants with Knowledge Infusion. They can be reached at editor@clomedia.com. http://www.clomedia.com

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Chief Learning Officer - March 2008 Editor's Letter Table of Contents Imperatives Selling Up, Selling Down Strategies Take Five Learning Solutions The Treasury Board of Saskatchewan: Training the Trainers With Experiential Learning Clo Profile Environment Xerox: Creating a Learning Masterpiece Tactics Capturing the Knowledge of the Workforce Productivity Succession Planning Tips from the U.S. GAO Human Capital Influencing Competency Management Case Study Case Study Business Intelligence Advertisers' Index Editorial Resources In Conclusion

Chief Learning Officer - March 2008

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