CONCLUSION (continued) measuring the Using incisive data and analysis, the performance HR function can begin to develop the contribution/impact of tools and policies that should help new executive place them at the centre of corporate development strategy”. strategies and The research findings should speak initiatives; profoundly and persuasively to the respondent organisations and more Building filling the ‘benchstrength’, broadly to executives operating in internal leadership pipeline and corporate HR/ OD functions and to achieving the true potential of providers of executive development succession management; and programs and support. Developing and implementing an For the respondents, it should be clear integrated Talent Management from the findings that many of the System. more traditional approaches to In relation to the OD/HR function the executive development are outmoded research findings that there is an and are rapidly being replaced by opportunity, if not a pressing need, for newer less well HR/ OD executives to evolve and expand defined methodologies, practices and their role playing more of a facilitative value equations. The challenge for – strategic advisory role in what might be respondent organisations - and perhaps regarded as an evolution in executive more broadly for all Australian firms - is in development for Australian organisations. crafting and integrating an executive However to take advantage of the development strategy that addresses opportunity afforded by any revolution, issues such as: along with the requirement for the Creating and promoting development of new competencies for alignment’; ‘strategic example in the areas innovation and performance evaluation, Increasing to market’ for ‘speed new products and product Future research could build valuably on innovations; the present research through a deeper exploration of the more significant Increasing line management trends highlighted in the findings ownership of and active support (for including: executive development strategy and activities); Influences and objectives: How are the leading Australian firm’s Building the business case and
CONCLUSION (continued) Using incisive data and analysis, the HR function can begin to develop the tools and policies that should help place them at the centre of corporate strategy”. The research findings should speak profoundly and persuasively to the respondent organisations and more broadly to executives operating in corporate HR/ OD functions and to providers of executive development programs and support. For the respondents, it should be clear from the findings that many of the more traditional approaches to executive development are outmoded and are rapidly being replaced by newer less well defined methodologies, practices and value equations. The challenge for respondent organisations - and perhaps more broadly for all Australian firms - is in crafting and integrating an executive development strategy that addresses issues such as: Creating and promoting ‘strategic alignment’; Increasing ‘speed to market’ for new products and product innovations; Increasing line management ownership of and active support (for executive development strategy and activities); Building the business case and measuring the performance contribution/impact of new executive development strategies and initiatives; Building ‘benchstrength’, filling the internal leadership pipeline and achieving the true potential of succession management; and Developing and implementing an integrated Talent Management System. In relation to the OD/HR function the research findings that there is an opportunity, if not a pressing need, for HR/ OD executives to evolve and expand their role – playing more of a facilitative strategic advisory role in what might be regarded as an evolution in executive development for Australian organisations. However to take advantage of the opportunity afforded by any revolution, along with the requirement for the development of new competencies for example in the areas innovation and performance evaluation, Future research could build valuably on the present research through a deeper exploration of the more significant trends highlighted in the findings including: Influences and objectives: How are the leading Australian firm’s
AusExecTrendsReport_2007_Final.docx