Many of our nation’s most well-respected companies retain consulting firms to craft their marketing strategies, and invest millions in an attempt to increase market share, and show profitability down the road. At the same time, many of these companies have recognized that they face a lack of diverse leadership, but only a select few are taking a strategic approach to build diverse talent pipelines. In this webcast, MLT, who has helped organizations like Deloitte, Goldman Sachs, Google, Target, PepsiCo and Citigroup recruit and retain more high potential diverse talent, will share approaches that successful companies are taking to fundamentally change the shape of their diverse leadership pipelines and solve their diverse talent challenges. MLT will discuss: Taking a long-term strategic approach to recruiting more diverse talent at various career stages, retaining and developing the diverse talent already within your organization, and engaging and gaining buy-in from colleagues not directly involved in human capital.
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7. Today’s Moderator
Alan Mellish
@alanmellish
alan.mellish@hci.org
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8. Today’s Featured Guest
Kevin Donahue
Vice President, Partnerships
MLT
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11. MLT RESULTS
Driving breakthrough results for Fellows and Partners
• #1 source of minority MBA candidates for top 10 business schools
• 90%+ of undergraduate Fellows obtain full-time job offers from top-tier firms
• Leading source of minority talent for top firms, including Goldman Sachs, Google, Deloitte, Procter
& Gamble and PepsiCo
Generating high profile media coverage
• Profiled as the leading minority talent organization on CNN’s “Black in America 2: Tomorrow’s
Leaders” series
• John Rice (Founder and CEO) named top 30 global social entrepreneur by Forbes
• Cover story in Fortune
• Profiled on NPR, Wall Street Journal and BusinessWeek
UNLOCKING CAREER POTENTIAL 3
12. MLT’S CAREER POTENTIAL EQUATION
Every senior leader would identify several critical drivers of their career success
that they did not get in the classroom.
MLT’s Key Fulfilled
Classroom =
+ Hard Work + Ingredients Career
Education
Potential
Access to the best Coaching / mentoring
opportunities
Door-opening relationships
Preparatory roadmap
High-performing peer
Hard and soft skills community
UNLOCKING CAREER POTENTIAL 4
13. MLT’S TALENT DEVELOPMENT SYSTEM
SOURCE HI-PO TALENT CAREER ADVANCEMENT
AT MULTIPLE STAGES PROGRAM (CAP) FOR
• Non-profit partnerships / feeder RISING EXECUTIVES
programs (K-12 programs,
• Mid-career professionals identified as
scholarship providers) highest potential by MLT partners
• Alumni / Fellow referrals • 6 months of executive coaching and
• Partner referrals (b-schools and
development around specific
corporate partners) roadblocks to senior leadership
• MLT recruiting team’s efforts
• 75% promoted within first year
MBA PREP FOR EARLY
CAREER PROFESSIONALS
• Pre-MBAs with raw talent to succeed
at top MBA programs
• 18 months of coaching and in-person
workshops focused on MBA BUILDING A MORE
application and career preparation ROBUST LEADERSHIP
• Coaching and guidance during b- PIPELINE FOR
school to maximize job outcomes PARTNERS
CAREER PREP FOR • #1 source of minority students for top
• Leverage MBA Focus to efficiently
COLLEGE STUDENTS 10 MBA programs
facilitate recruiting process
• Undergrad juniors and seniors
• Customized retention solutions at
sourced from 90+ schools
various stages of leadership pipeline
• 15-month curriculum with one-on-one
coaching and in-person workshops • Data throughout
driven by corporate partners
• 90% receive full-time job offers prior to
graduation
UNLOCKING CAREER POTENTIAL 5
14. THE CHALLENGE: DIVERSE LEADERSHIP PIPELINE
Companies are trying to solve for more diverse leadership, but minorities are
falling out of the leadership pipeline at a far greater rate than their non-minority
peers.
Black Hispanic Native American
30%
23%
15%
8%
0%
US Population Bachelor’s Degrees Top Entry Level Biz Jobs Top 50 B-Schools Senior Leadership
Source: 2001 study conducted by BCG/MLT; updated in 2006 by Booz Allen Hamilton/MLT
UNLOCKING CAREER POTENTIAL 6
15. POLL #1
In your opinion, how effective are your company’s diversity recruiting efforts?
1. Very Effective
2. Effective
3. Somewhat effective
4. Ineffective
16. POLL #2
Which of the following are part of your diversity strategy?
1. Scholarships / fellowships
2. Skill building activities for diverse candidates (case studies, interview prep,
immersion experiences)
3. Early identification of talent (i.e. before the start of the traditional campus
recruiting season)
4. Diversity career fairs
5. Recruiting at HBCUs
17. CASE STUDY: INCREASING MARKET SHARE
Companies make big investments in advertising, betting that their investment will
pay dividends in increased market share. Vendors are evaluated on pre-defined
criteria and held accountable for results.
Issue RFP for Evaluate results and
advertising agency Formulate ad Execute campaign continue vendor
including budget and campaign and measure results relationship or begin
vendor criteria process again
Many of these same companies hold themselves to a much lower standard of rigor when
investing in strategies to build a more diverse senior leadership pipeline.
UNLOCKING CAREER POTENTIAL 9
18. CREATING A STRATEGIC DIVERSE TALENT STRATEGY
The rigor used to create, execute and evaluate a diverse talent strategy should
be equal to that used to solve any other business challenge.
Determine budget Work with partners
Execute and Evaluate results and
and criteria for (schools, diversity
measure results continue vendor
evaluating orgs, training
based on indicators of relationship or begin
partnerships and resources) to
pipeline change process again
investments formulate strategy
Companies have been employing many of the same diversity strategies for 10+ years, but
have not changed course despite limited impact in their diverse leadership pipeline
over that time period.
UNLOCKING CAREER POTENTIAL 10
19. SOLVING FOR SENIOR LEADERSHIP
Broadening the pool of senior leaders requires increasing the pool of qualified
diverse candidates at various career stages.
Leadership Pipeline
Analyst Associate VP / Director MD
x
Leadership Pool
Recruitment
Senior mentors
Recruiting ambassadors
Diversity champions
Bench strength
Retention and
Development
UNLOCKING CAREER POTENTIAL 11
20. COMMON PRACTICE: RECRUITING STRATEGY
Strategy: Vigorously compete for relatively limited pool of qualified diverse
candidates at point of recruiting “transaction”.
Tactics Outcomes
• Career fairs • More intense competition to capture a
• Campus info sessions larger percentage of available talent pool
• No growth in the overall size of the
• Mass emails to candidates
available talent pool
• Invest in partnerships that help to access
large pools of candidates
UNLOCKING CAREER POTENTIAL 12
21. STRATEGIC APPROACH: RECRUITING STRATEGY
Stage One: Invest in building the pool of qualified candidates pursuing your
company’s opportunities.
Tactics Outcomes
• Take a data-driven approach to identifying • A larger pool of qualified candidates to
candidates early with high potential for recruit from
success
• Engage candidates before the start of the
traditional recruiting season
• Educate students about what it takes to
be a successful candidate
• Help candidates build the skills they need
to be successful (case studies, analytical
skill building, interview prep, etc)
UNLOCKING CAREER POTENTIAL 13
22. STRATEGIC APPROACH: RECRUITING STRATEGY (2)
Stage Two: Cultivate candidates via personal relationships and outreach.
Tactics Outcomes
• Target candidates that fit your company’s • Candidates understand that you want
profile via MBA Focus them to be a part of your organization
• Conduct personalized outreach, • The recruiting transaction can become an
leveraging details from MBA Focus outgrowth of a relationship
profiles (school, work experience,
interests, etc)
Stage Three: Efficiently close recruiting transaction with expanded candidate
pool.
UNLOCKING CAREER POTENTIAL 14
23. COMMON PRACTICE: DIVERSITY GOALS / METRICS
Strategy: Recruiting goals targeting an incremental improvement over the
prior year (e.g. 3 more diverse hires) and retention goals focused on culture-
change and inclusiveness.
Tactics Outcomes
• No shared goals among recruiting and • Annual recruiting goals don’t drive
retention teams activities that lead to a more robust
• Recruiting goals solely focused on annual diverse leadership pipeline
outcomes • Retention strategies do not contribute to
• Retention and advancement goals solely stronger performance within today’s
focused on long-term drivers of change environment
UNLOCKING CAREER POTENTIAL 15
24. STRATEGIC APPROACH: DIVERSITY GOALS / METRICS
Strategy: Starting point for goal setting is a clear picture of what a robust
diverse talent pipeline looks like in 5 years.
Tactics Outcomes
• Annual goals are based on progress • Annual strategies track to a more robust
metrics toward achieving desired pipeline senior leadership pipeline
metrics • Success = a sustainable solution to the
• Hiring strategies and metrics tied to company’s diverse leadership pipeline
retention and advancement strategies • Near-term success stories (i.e. senior
and challenges leaders) to celebrate and replicate
• Retention strategies include helping high
potential individuals navigate / succeed
within the current environment
• Disciplined focus on initiatives that impact
levers that drive desired 5-year goals
• All strategy decisions are data and
metrics-based
UNLOCKING CAREER POTENTIAL 16
25. COMMON PRACTICE: DIVERSITY TEAM ALIGNMENT
Strategy: Recruitment (campus and/or lateral), retention and/or diversity
teams focused on individual areas with limited alignment / coordination.
Tactics Outcomes
• No shared goals • Recruiting and retention strategies not
• Separate budget and reporting integrated and not focused on the key
relationships drivers of sustainable long-term outcomes
• Difficult to implement integrated solutions
• Recruiting strategies disconnected from
retention strategies and key drivers of that involve multiple departments
success in organization • Difficult for partners to propose integrated
solutions
UNLOCKING CAREER POTENTIAL 17
26. STRATEGIC APPROACH: DIVERSITY TEAM ALIGNMENT
Strategy: Recruitment and retention teams develop joint integrated strategy
(with senior executives providing oversight).
Tactics Outcomes
• Senior line executive(s) convene internal • Recruitment and retention teams
departments and facilitate an integrated coordinating to most efficiently drive
organization approach pipeline impact
• Shared goals address key levers of
pipeline impact
• Ability to jointly fund initiatives
UNLOCKING CAREER POTENTIAL 18
27. STRATEGIC APPROACH: SAMPLE TOP-LEVEL SCORECARD
Minority Representation
2012 2017
(Recruiting and Retention)
VP ## / X% ## / X%
Director ## / X% ## / X%
Manager ## / X% ## / X%
Associate ## / X% ## / X%
Pipeline
Indicators of Health
2012 2017
(Recruiting, Retention, Development, Impact)
Attrition Rates:
VP / Director / Manager / Associate X% X%
Promotion Rates:
VP / Director / Manager / Associate X% X%
Active Affinity Group Membership ## ##
Recruiting:
Interview to offer conversion X% X%
Offer to hire conversion X% X%
Summer internship to full-time conversion X% X%
Pipeline:
##
Number of diverse candidates from target schools ##
##
Number of diverse candidates from technical majors ##
###
Average GMAT of diverse candidates ###
UNLOCKING CAREER POTENTIAL 19
28. COMMON PRACTICE: DIVERSITY PARTNERSHIPS
Strategy: Invest in portfolio of organizations / initiatives based on executive
relationships, profile or ability to do good / positive work.
Tactics Outcomes
• High-profile investments that show • Partnership investments not cohesive
commitment to diversity (but do not • Successful partnerships do not equate to
contribute to results) a broader diverse talent pipeline
• Investments in organizations that do good
work, but do not contribute to a more
robust leadership pipeline
• Prioritize relationships over results
• Reward predictability in partners (as
opposed to innovation)
• Investments are scaled back backed
based on size of investment (rather than
results) when budgets are reduced
UNLOCKING CAREER POTENTIAL 20
29. STRATEGIC APPROACH: DIVERSITY PARTNERSHIPS
Strategy: Invest in partnerships that impact the key levers that contribute to a
more robust diverse talent pipeline.
Tactics Outcomes
• Investments are made based on a clear • Cohesive partnerships working toward a
criteria that demonstrate potential to common goal
impact key pipeline levers • Successful partnerships translate directly
• Foster collaboration among partners to a more robust talent pipeline within the
• Collaborate up front to determine metrics organization
that contribute to 5-year strategy • More robust data set to enhance decision
• Partners held accountable for delivering making and facilitate trouble shooting /
results and data to track progress (e.g. change in tactics
candidate progress data via MBA Focus)
• Investments are scaled back based on
results when budgets are reduced
UNLOCKING CAREER POTENTIAL 21
30. CONTACT US
MBA FOCUS MLT
Todd Erdy Kevin Donahue
VP Global Partnerships VP Partnerships
todd.erdy@mbafocus.com kdonahue@ml4t.org
613.339.2080 646.810.6113
www.MBAFOCUS.com www.ML4T.org