Transcript Slide 1

44th Annual National Conference
LAGOS BUSINESS SCHOOL (LBS)
Master Series 3:
Pathway of Integrity: Taking Back
Corporate Leadership for Local Talent
Dr Enase Okonedo,
Dean, Lagos Business School
Email: [email protected]
Outline
Taking Back Corporate Leadership: Six Key Issues
Globalisation and Int’l Talent Mobility
What HR Professionals Can Do
Humanistic Management
Taking Back Foreign-Based Local Talent
Developing Middle Managers
Preparing Local Talent for Global Markets
Clear Accountability for Executive Talent
Development
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# 1: “REAL” or “IMAGINED”?
Foreign Expatriates are taking back all the senior
leadership positions.
Are they (all)?
Many MNCs with Nigerian CEO’s e.g. GSK,
FrieslandCampina WAMCO, Shell, Citibank,
Stanchart, Stanbic IBTC, Mobil Oil, Guinness, etc.
This applies to other senior executive positions.
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# 2: “REAL” or “IMAGINED”?
We have Too Many Expatriate Managers.
Are we looking at only the CEO/top positions?
Should we also look at lower-level senior
management positions?
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# 3: “REAL” or “IMAGINED”?
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Nigerian Executives Have Stunted Career Growth
as a Result of Expatriate Executives.
Many Nigerian executives are serving as senior
executives and international assignees in the
West, and in “foreign” places e.g. Hungary, MENA;
esp. in oil and gas MNCs.
Nigerians are CEOs/top executives in many
African countries, as MNCs expand in the region.
e.g. Guinness, Standard Chartered, Citibank.
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# 4: “REAL” or “IMAGINED”?
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Corporate Leadership for Local Talent is an Issue
(ONLY) in Multinational Companies.
In many large local corporates, not only is the CEO/top
management occupied by expats, but also senior, and
increasingly middle mgt.
MNCs actually appear to be more committed to local
executive talent development. We should be (even
more) concerned about executive talent development
in local organisations.
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# 5: “REAL” or “IMAGINED”?
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We have sufficient local talent to lead organisations.
Do we really have the right quality in the right quantity?
There are challenges engaging high quality,
competitively priced, local executive talent in Nigeria.
Indeed, many MNCs are yet to come into the Nigerian
market because of dearth of local executive talent.
Local and international headhunters are stretched, as
they search for top local talent for their clients.
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# 6: “REAL” or “IMAGINED”?
Only in Nigeria Can This Happen!
Expatriate executive talent is a global phenomenon;
the changing dynamics of the new global economy
demand globally competitive talent, with
international management capabilities.
Global CEO of Citibank, Pepsi & top business schools
such as Harvard Business School all Indians.
Companies are looking for high performers with a
global mindset, and nationality is increasingly
becoming secondary or immaterial.
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Corporate Leadership for Local Talent
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CERTAINLY, more can and should be done to
develop local executives, but the game and the
rules of the game have changed.
We need to have a different mindset about the
issue of local executive talent management.
A broader, more holistic understanding is required
in today’s increasingly globalised product and
labour markets.
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Globalisation and Int’l Mobility of Talent
Globalisation is redefining the competencies to
lead large (multinational) organisations.
Organisations are increasingly looking to build a
global talent pool of high-potential executives.
We must therefore progress from the “rightsbased” (Son-of-the-soil) approach, to a “meritbased” one, in discussing leadership of MNCs.
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The Role of CIPMN Members
HR Professionals Must Rise to the
Challenge of Developing
Globally Competitive,
LOCAL EXECUTIVE TALENT
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NEEDED: A Different HR Philosophy,
Grounded in Humanistic Mgt
Hard HRM: Utilitarian Instrumentalism
Employees are treated as a resource, aim to pay
them as low as possible, they need to be
controlled
Soft HRM: Developmental Humanism
Employees are the most valuable asset of the
business and they need to be developed to
ensure they are being used optimally.
ARE WE INVESTORS IN PEOPLE?
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Championing Investment in People 13
Producing corporate leaders requires significant effort,
nurturing and investment.
(One Nigerian director at a major MNC estimates $ 3 million
invested in his executive development over a ten-year period).
Global surveys indicate companies invest 2 – 3% of
payroll on training.
Top global companies, however, spend 5 – 7%.
GE – widely respected for producing corporate leaders –
invests more than $ 1 Billion in people developmt.
Nigerian-owned companies tend to invest significantly
less than their global counterparts.
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Nigeria and the Global War for Talent
In the global “War for Talent”, Nigeria is not
particularly competitive.
Not only do we not have sufficient quality and
quantity of local executive talent, we are fast
losing high-quality talent to other economies
aggressively recruiting highly skilled
professionals.
This “TALENT SECURITY” challenge is a major
obstacle to national development.
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Taking Back Foreign-Based Local Talent
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What do we do about talent “losses” to other
economies (highly skilled migrants, non-returning
students, and non-returning international
assignees?
As challenging as this is, HR professionals must
develop innovative talent management systems
to attract these people, with a compelling
employee value proposition
E.g. NB’s Young African Talent programme, which targets overseas
students and early career professionals.
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Start from the “Middle Belt”;
Think Long Term!
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We must go back to the basics, prioritising management
trainee and middle management development programmes.
The middle managers of today, are the corporate leaders of
tomorrow.
It’s a long journey, and requires not just training and
development, but also careful and purposeful nurturing.
LBS: Middle Managers that passed through our executive
programmes in the last decade are now CEOs. E.g. GTBank,
Diamond, Skye, FrieslandCampina WAMCO, GSK, etc.
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Think Global!
Prepare Local Talent for Global Markets
Globally competitive skills/technical capabilities
Sound knowledge of dynamics of global economy
General international business capabilities
Knowledge of foreign cultures and customs
Knowledge of foreign languages, esp. French.
LBS having to develop Int’l AMP, Global Mgt in
Curriculum, Int’l Study Trips, Int’l Student Exchange,
Int’l Assignments for MBAs (e.g. GE, StanChart,
Monitor, etc).
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Accountability for Local Talent Development 18
Regularly monitor and report local executive
talent development initiatives.
Make executive talent management a high-level
agenda; at the level of the board.
Hold executives responsible for management
talent development, from management trainee
to senior executive levels.
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Institutionalisation of Espoused Values 19
The “Nigerian brand” has an integrity deficit; High
profile corporate scandals and mismanagement have
further hurt the brand.
We need to institutionalise a culture that encourages
and rewards ethical behaviour and conduct, with zerotolerance for “sharp” practices.
Introduce values-based performance management
systems concerned not only about financial
outcomes/ends.
Act as Role Models of Ethical Behaviour.
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THANK YOU!
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About LBS
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Graduate school of Pan-African University, established in 1992 with the
support of IESE Business School, Spain. Inspired by the teachings of Saint
Josemaría Escrivá, founder of the Catholic institution, Opus Dei.
The School seeks to provide high potential professionals with a general
management education which stresses professional ethics and service to
the community through the practice of management.
Full-time MBA, Executive MBA, Modular Executive MBA, PhD, 50 + Shortfocused programmes, three general management programmes (SMP,
AMP, CEP), and world class custom education programmes.
Alumni Association with over 4,200 members.
Has been ranked among the top 55 business schools in world by Financial
Times of London in the area of open enrolment executive education
programmes over the past 3 years.
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Enase Okonedo: Bio-sketch
Enase Okonedo, Dean of Lagos Business School (LBS), is a Fellow of the Institute of Chartered
Accountants of Nigeria (FCA). She has an MBA from IESE Business School, Barcelona and a Doctorate in
Business Administration from International School of Management (ISM), Paris.
She joined Lagos Business School in 1995 after working for several years in the Nigerian Banking sector.
At Lagos Business School, she has taught courses on decision making and problem solving, corporate
financial management and financial strategy on the Executive MBA and Full-Time MBA programmes as
well as various executive programmes. She is also engaged in programmes for developing faculty for
other African business schools through regular workshops organised by the Association of African
Business Schools (AABS).
Dr Okonedo, a member of the Governing Council of the Pan-African University, held several leadership
positions at LBS at various times in the past, including Deputy Dean; Faculty Director; Director, Degree
Programmes and Executive MBA Director and was for several years a member of the Management Team
of the School before becoming Dean in July 2009.
She is current Chairperson of the Association of African Business Schools (AABS); is a member of the
academic advisory board of Global Business School Network (GBSN) and also serves on the board of
several indigenous companies.
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