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June 23, 2006 Kevin D. Wilde VP, Chief Learning Officer General Mills, Inc.

June 23, 2006 Kevin D. Wilde VP, Chief Learning Officer General Mills, Inc. Food For Thought: Building Great Leaders At General Mills. Thank You!. Extreme Make Over. Taste for: Drama of Business and Marketing Excitement of Leadership Calling for Development. Chief Learning Officer.

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June 23, 2006 Kevin D. Wilde VP, Chief Learning Officer General Mills, Inc.

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  1. June 23, 2006Kevin D. WildeVP, Chief Learning OfficerGeneral Mills, Inc. Food For Thought:Building Great LeadersAt General Mills

  2. Thank You!

  3. Extreme Make Over Taste for: • Drama of Business and Marketing • Excitement of Leadership • Calling for Development

  4. Chief Learning Officer Helping General Mills Win: • Building Great Leaders • Global Selection & Development, Bench Strength • Creating Innovation Drivers • Structure, Practice, People • Funding Innovation through Efficiency & Execution

  5. World’s 6th largest food company $12.5 billion in FY05 net sales 28,000 employees Marketed in morethan 100 countries General Mills The Company of Champions

  6. General Mills: Company of Champions Our Values • Championship Brands • Championship People • Championship Innovation • Championship Performance

  7. CHAMPIONSHIPbrands The Company of Champions Building leading brands that our consumers trust around the world – making liveseasier, healthier and more fun ..........

  8. Championship Brands

  9. U.S. Market Share Positions Rank Refrigerated yogurt 1 Ready-to-eat cereals 2 Frozen vegetables 1 Refrigerated dough 1 Ready-to-serve soup 2 Dessert mixes 1 Frozen baked goods 1 Frozen hot snacks 2 Microwave popcorn 2 Dry dinners 1 Fruit snacks 1 Mexican products 2 ACNielsen Plus Wal-Mart Projection

  10. Diverse, talented, committedpeople – constantly learningand growing, and contributingto our communities CHAMPIONSHIPpeople ......... The Company of Champions

  11. “Top 20 Companies For Leaders” May 2005 “Top 50 Under 50” Black MBA MagazineSummer 2005 Individual Development Plan Development

  12. What Others Say • Fortune’s “America’s Most Admired Companies”“100 Best Companies to Work for” • Working Mother“Best Companies for Women of Color” • Business Week “America’s Top Givers” • The Conference Board “Ron Brown Award - Corporate Achievement” • Business Ethics“100 Best Corporate Citizens” • Working Mother“100 Best Companies” • Latina Style Magazine“50 Top Companies in U.S. for Latinas” • NAFE“Top 30 Companies for Executive Women”

  13. “I would recommend General Mills as a great place to work” “I believe management decisions are consistent with company’s core values” 89% 78% “Overall Commitment” 83% What Our People Say

  14. 77-year Compound Annual Growth 250 General Mills: 7.5%* Dow Jones Industrials: 4.8% 200 Inflation: 3.2% 150 100 General Mills Dow Jones Industrials 50 0 1928 1933 1953 1958 1963 1968 1973 1978 1983 1988 1993 1998 2005 1938 1943 1948 Stock Price Performance 1928 – 2005 * Adjusted for Stock Splits and Spin-offs Sources: Economic History Services (Inflation data) and Dow Jones & Company, Inc.

  15. WHY LEADERSHIP?

  16. How Important Is Leadership To Me? Importance Leadership Managerial Technical Individual Contributor People Manager Director/ Vice President

  17. Leadership Development Resource • General Mills, in collaboration with Zenger-Folkman, created a leadership development program. • Titled “Building Great Leaders”, it is based on internal research as well as material from Zenger-Folkman. • The Zenger-Folkman research is based on their book “The Extraordinary Leader”

  18. Relationship between *turnover and Leadership Effectiveness Average Percent Turnover More effective leaders have lower turnover. * Results from a large insurance company Leadership Effectiveness Impact of Leadership Effectiveness on *Turnover

  19. $4.5 MM More effective leaders generate higher income. $2.4 MM Net Income * Results from a large mortgage bank $1.2 MM Leadership Effectiveness Impact of Leadership Effectiveness on *Net Income

  20. More effective leaders have more satisfied customers. Perceptions of Customer Satisfaction PCTL * Results from a large high technology company Leadership Effectiveness Impact of Leadership Effectiveness on *Perceptions of Customer Satisfaction

  21. 90 80 70 60 50 Employee Satisfaction Index 40 30 20 10 0 1st– 10th– 20th– 30th– 40th– 50th– 60th– 70th– 80th– 90th– 9th 19th 29th 39th 49th 59th 69th 79th 89th 100th Leadership Effectiveness Percentile Results From a Large Manufacturer

  22. Strong Correlation Between Employee Commitment and Company Performance % Change in Operating Margin + +3.74 + + + + -2.01 Low Commitment Companies High Commitment Companies

  23. Key Drivers of Commitment at General Mills Leadership Development Commitment Empowerment

  24. O T P Development: P+O+T

  25. Tell Me About Your … Passion O T Where do you find it: • Classes/projects • Activities • Work Experiences P

  26. WHAT IS LEADERSHIP?

  27. Built on Internal & External Research EXTERNAL • Zenger-Folkman Consulting • 200,000 evaluations on 20,000 people Top 10% vs. bottom 10% • Lominger Associates • Similar 360 database and analysis • Center For Creative Leadership • 20 year study of benchmark leadership 360 INTERNAL • Executive Interviews and Strategy analysis 1999-2002 • 400 360º reports & coaching plans • Ongoing study of 100+ of best leaders and “derailed” leaders.

  28. General Mills Leadership Is… PEOPLE INNOVATION • Inspires and motivates • Collaborates across boundaries • Develops: people, organizations, self • Values diversity • Communicates a compelling vision • Develops winning strategies • Connects to the outside world • Encourages innovation • Demonstrates unquestionable integrity • Engenders trust at all levels INTEGRITY RESULTS • Sets aggressive goals and clear priorities • Delivers on commitments—long/short • Makes timely, high-quality decisions • Adds value with superior expertise

  29. Tell Me About Your … Opportunity O T Where do you find it: • Classes/projects • Activities • Work Experiences P

  30. SO HOW TO DEVELOP LEADERSHIP?

  31. A • Opportunity • Limiter 1 Focus on “Gaps” as a Start B C D E F G H I Low Score J K L M N O P 2 3 4 5

  32. Focusing on Less Positive Issues Has Limitations Average at everything Will fixing one or two less-positive issues have a dramatic impact on leadership effectiveness?

  33. Impact of Leadership Effectiveness on *Employee Engagement/Commitment Great Leaders Make a Great Difference 90 80 70 Good Leaders Have an Adequate Impact 60 50 40 30 Poor Leaders Create Dissatisfaction 20 10 1st – 9th 10th–19th 20th–29th 30th–39th 40th–49th 50th–59th 60th–69th 70th–79th 80th–89th 90th–100th Percentile Employee Engagement/Commitment Leadership Effectiveness Percentile

  34. SO HOW TO DEVELOP GREAT LEADERSHIP?

  35. “Great Leaders Are not defined by the absenceof weaknesses … … but rather the possession of a few profound strengths.”

  36. Impact of Leadership Effectiveness Without Any Perceived Strengths Average Percentile Score Number of Strengths

  37. Impact of One Strength on Overall Perception of Leadership Effectiveness Number of Strengths

  38. Three Strengths Raises Leadership Effectiveness to the 81st Percentile Average Percentile Score Number of Strengths

  39. SO HOW TO BUILD A STRENGTH?

  40. Current Approach to Change Plans Desired Future Performance Current Performance More, Better, Faster, Smarter People question ability on technical expertise. People have confidence in technical expertise.

  41. The Problem With the Direct Approach There are Limits to: More, Better, Faster, Smarter Consider creative routes to the same destination: Cross- Training

  42. Characteristics of a Great Basketball Player Tall & Slow Height Short & Fast Speed Powerful Combination Tall & Fast

  43. 66 70 60 50 40 30 13 20 9 10 0 Interpersonal Drivefor Drivefor Skills Results Resultsand Interpersonal Skills Impact of Drive for Results and Interpersonal Skills % of Leaders at 90th Percentile

  44. Interpersonal Skills Competency Companion Technical Expertise Differentiating Competency A Competency Companion to Technical Expertise

  45. Assertiveness Competency Companion Honesty & Integrity Differentiating Competency A Competency Companion to Honesty & Integrity

  46. Customer Focus Business Acumen Innovation Analytical & Problem-Solving Skills Establishing Stretch Goals Communication Companion Behaviors for Strategic Perspective Strategic Perspective

  47. Tell Me About Your … Talents O T Where do you find it: • Classes/projects • Activities • Work Experiences P

  48. Cliff Notes On This Session • This Guy is a MarkEd Grad and Works as the CLO at General Mills 2. Technical Knowledge is assumed 3. Passion + Competence + Opportunity 4. Impact through Leadership 5. Eat More Cereal! … All about Connecting

  49. Thank You!

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