People and Performance award entry

Rialto Accelerated Leadership Index

 

Section 1: History, Introduction, Background & Methodologies:

 

Rialto have successfully assisted 1,400+ senior executives to secure a new career move within the last 4 years across all sectors including many in Senior Leader, CEO, MD, Board and Senior Professional related roles. Our representative client list can be found here. A client Case Study – Outplacement for Senior Executives can be found here

 

The Rialto team of 35+ specialist consultants are probably the most experienced team in the UK career transition market.

 

In today’s continuously changing business landscape, Executives can find it increasingly difficult to differentiate themselves against peer competitors and be aligned to future market needs. Executives may have the potential to excel but they may not compete fully without the necessary fit for purpose skills capabilities, experience, visibility and profile. The Rialto Executive programme is a unique experience that will get Executives noticed and improve chances of being invested in by future organisations.

 

Our unique IP developed over many years assists exectives to develop a clear strategy going forward taking into account skills profile, preferences and a realistic assessment of fit with the moving market.  We construct and implement a mutually agreed engagement contract including performance measures based on truly quantifiable results.

 

Our programmes are based on IP developed over 20+ years which represents the latest thinking in Executive Career Transition & Outplacement. Consequently over 90% of senior executives, when given a choice, select Rialto to assist with their own personal transition.

 

Through re-investing career assets and securing the optimum place in a moving market the key programme deliverables will provides the insights  and tools to:

 

  • Achieve what executives ASPIRE for (money/status, etc) to BOND (into a role and organisation where you feel you belong), LEARN (and better understand the new capabilities required for tomorrow), PROTECT (and defend what you have).

 

  • Visualise the right fit and ideal niches for clients – those that energise and excite and which possess the right characteristics including environment and boss relationships (please find links below of some recent research on Business & leadership trends & Top Executive Derailment which may be helpful in your thinking and which illustrates some contemporary risks you may face during your transition – which Rialto will assist you to reduce).

 

 

Useful reading / reference links

 

 

 

“The rate of change is not going to slow down anytime soon.  If anything, competition in most industries will probably speed up even more in the next few decades” – John P Kotter

 

Our Programme outline describes the journey within the New World realities which will help to answer some key questions including:

 

 

Everybody’s career path is different. Some are straight and narrow and others are more of a twisting, bumpy road – and there are quite a few different decisions to make along the way. However, sometimes when you find yourself needing to make one, it pays (literally) to take a step back and listen to what a partner on the journey may be telling you.

 

The world has changed and is continuing to change rapidly (refer leading in a VUCA World). As discussed, what we have all followed as strategies (in the past) to secure our futures will not necessarily work going forward. For example LinkedIn has 500+ million profiles globally (2 new members join per second) and 15+ million in the UK; 12 million people search for roles in the UK from somewhere in the globe and every month 187million professionals use LinkedIn (65% of users are outside of the USA). The top 6 internet job boards contain 9 million CV’s. Facebook has 829million on average daily users.

 

Annually, 0.9 billion job searches are made through mobile devices and 67 million are made on YouTube. We need to respond to the new generation by envisaging a world without steering wheels, and a world without keyboards. Mobile is key.

 

We are entering a new world of technology. We look at our mobile phones 150 times a day… more than we look at our partners.

 

 

Section 2: The Rialto Accelerated Leadership Index (RALI)

 

Rialto Accelerated Leadership Index (RALI) was named winner of Outstanding Educational Service category at the 2018 Global Business Excellence Awards.

The Global Business Excellence Awards pride themselves on having a large panel of independent expert judges who select winners according to strict criteria for each category and sector; focussing on financial results, customer, employee, investor and community benefits.

 

Commenting on Rialto Accelerated Leadership Index, the winner on the Outstanding Educational Service category, the chairman of the judges said: “Similar to the industrial revolution, the digital revolution has changed the business world forever. New technology and the increased pace of change impacts on leadership on a daily basis and executives often don’t have all the key information they need to hand. RALI has changed this. It gives executives instant information in real time on key leadership trends enabling them to have information on hand and make well-informed decisions. The index is a radical tool and a must have for leaders who want to stay on top of their game”.

 

RALI was created by a husband and wife team, Richard & Monica Chiumento and has emerged from over 20+ years experience of Executive & Senior Leaser Career transition experience outlined in section 1 above.

 

RALI will disrupt the existing $307bn global leadership development market1 and £35bn UK (in 2016) recruitment industry2 (£427bn worldwide 2016)

 

These are challenging times, especially for leaders. Successful businesses are driven by highly effective leadership teams. Many organisations have proven they understand this by committing large sums of money to leadership development every year. Despite this, the effectiveness of leaders often comes into question and surveys consistently indicate that identifying, developing and recruiting top leadership talent is one of HR’s toughest challenges.

 

AI machine learning and automation continue to profoundly change or replace labour in large sectors of our economies.

 

More recently, attention has shifted from factory floors to knowledge-based, highly specialised professions. Trading, investment, reporting, analysis, actuarial: occupations built on quantitative analytical processes can now largely be taken over by software. A World Economic Forum’s survey found that AI is even expected to be seen on a company’s board of directors by 2026.

The axiom that workers are being displaced or augmented, not replaced, might still hold on. But with machines performing progressively higher level cognitive tasks, the question is – for how long?

The leadership and organisational landscape is changing radically. Adding more uncertainty are the unpredictable operating environments that continue to prevail as well as the increasing impact of digital transformation and disruption. Those leaders who refuse to acknowledge and respond to the changes taking place are putting their organisations and themselves at risk of being left behind.

 

Many organisations have already begun to equip themselves for the Fourth Industrial Revolution. They are building new business models and reinventing what they do and how they do it. They are embracing technologies such as artificial intelligence and blockchain.

 

New technologies are disrupting existing industry value chains all around us. While new, innovative competitors are forcing incumbents to catch up with novel value propositions in well-established sectors.

How does industry change affect the set of skills that are required of its workforce? With what impact on the nature of employment? Will humans be freed from menial tasks, or enslaved to a future of underemployment and widening inequality?

 

RALI provides function and industry specific real time data to deliver cutting edge insights assisting aspiring and accomplished leaders to benchmark themselves versus peers and the rapidly changing future market demands for leadership talent. For many years (since the 1980’s formative period of technology adoption and streamlined business processes) organisations have been transformed but structures have remained largely intact. Not so today. The digital revolution has changed business in ways not experienced since the industrial revolution. Whilst past change & restructuring management focus have concentrated on reducing numbers, the rise of the digital economy has reshaped business models, supply chain, service delivery and competitive landscapes.

 

Think new ways of creating value such as robotics, work automation predictions, Bitcoin, Blockchain and Cloud disrupting traditional business models; think MP3 players & camcorders being disrupted by the smartphone; UBER, AirBnB, Hyperloop and new ways of doing business, leveraging AI and Big Data.

 

In a reminder of the complexities associated with automation, a recent survey discovered some interesting dichotomies. For example, the%age of employers automating work and seeing an increase in skill requirements is expected to rise sharply from 27% currently to 45% in the next three years. Conversely, over a third (42%) expect to apply automation and redesign jobs to lower skill requirements over the next three years. The impact of automation on the utilisation of non-employee talent is also noteworthy. While 19% of respondents say automation currently enables or requires them to use more non-employee talent, such as free agents or contractors, 50% expect that to be the case in the next three years. Almost half of employers (49%) believe they will require fewer employees in the next three years as a result of automation compared with 27% of organisations that say that is true today.4

 

Another survey has quoted that circa 44% of all UK jobs could disappear due to automation 5.

 

There is no doubt that in the longer term, there will be fewer stable jobs. Employers are becoming more short-term and transactional. Increased competition, automation and industry disruption are putting the squeeze on employment. So traditional “Jobs” that offer decent wages, security and careers will be fewer. Current research indicates that ca 400m jobs will disappear due to automation and that 375m people will need to switch roles by 20303.

 

The short shelf life of skills and a tightening labour market are giving rise to a multitude of individual skill gaps & organisational needs. Businesses are fighting to stay ahead of the curve, trying to hold onto their best talent and struggling to fill key positions. Individuals are conscious of staying relevant in the age of automation. This trend is creating a more urgent need for individuals to reskill more quickly and more often to be more valuable to the future

 

The impact of the above has been rapid as it has been profound. It therefore follows that the role of the leader and the capabilities and experience required have changed – and will continue to do so.

 

The consequences of the trends (and subsequent challenges) including the increased pace of work automation, greater use of technology in the workplace and disruptive business models all combine to make it very difficult today for individuals to be totally informed of key trends in order to successfully develop a relevant leadership profile for the future. More leaders are discovering that gaps in their knowledge, capabilities and experience are emerging more rapidly and more regularly. RALI delivers ongoing intelligence which is difficult to gather for one’s self. RALI provides real time insights and maps out key development priorities enabling individuals to continually stay ahead of peers and stay relevant to future market needs. This delivers the best options to successfully navigate the future marketplace and optimise financial and non-financial rewards for a more satisfying future by building a personal brand and reputation which is seen as relevant and aligned to the future. Users are ranked in their functional league table and are provided with market focussed development options (designed to enhance their attractiveness to future employers) and desired career trajectory scenario planning tools – enabling them to stay ahead in the job market.

 

RALI is a unique digital index in the leadership development industry – there are no assessments similar anywhere in the world. RALI provides critical insights for leaders to stay in the know, innovate and transform to perform.

 

At the same time organisations are unclear on the leadership profile that is required to take their organisations forward within a more competitive marketplace. RALI provides a customisable pipeline of future leadership talent at all levels.

 

In respect of future proofing organisations, only 30% of CEO’s feel confident that they will be able to secure the talent they need over the next 3 years. RALI will assist organisations continually redefine the profile required for the leader of tomorrow to future proof their organisations and obtain a pipeline of future leaders. 66% of recruiters predict that the war for talent will intensify and RALI will redefine the existing market supply and demand dynamics by assisting both the individual leader and organisations to find each other.

 

In today’s war for talent, recruiting and hiring an A-team of employees isn’t easy—it’s a candidate’s market, and companies must compete to fill critical roles. In fact, finding the right talent is identified as one of the top concerns of CEOs surveyed in a recent study.6 We also know that 32% of U.S. employers report difficulties filling job openings because of talent shortages,7 and that by 2020, there will be a shortage of 40 million highly-skilled workers and 45 million medium-skilled workers. Translation: the war for talent won’t be ending any time soon.8

Within this ongoing talent shortage is a particularly critical challenge: leadership gaps. Leadership is identified as the number one talent issue organisations face, with 86% of respondents surveyed citing leadership as “urgent” or “important” to their organisation.9 Companies are challenged to find leaders—from managers up to the C-Suite—with the right skills to impact organisational success. To that point, 30% of hiring managers say they currently struggle to find candidates to consider for senior leadership roles.

Lack of competent leadership is evident at all levels of business.10 Only 15% of organisations say they have a strong bench of leaders. Specifically, DDI World finds that companies in manufacturing and healthcare are the most challenged to source strong leaders, as a result of an aging workforce and slower industry growth, while companies in the pharmaceuticals and IT lack leaders with the right combination of skills for their rapidly-evolving fields.

Though most managers believe pay is the primary reason people leave their jobs, research finds that the number one reason actually is “loss of trust and confidence in senior leaders”. In other words, leaders play an important part in the success of a company’s talent management. Without strong leaders at the helm of an organisation’s ship, it becomes more challenging to secure the talent it needs to stay competitive.

Leadership gaps also matter because each of the top 20 leadership skills identified as critical to success today is projected to increase in importance in the future. Key leadership skills like taking initiative, inciting change management, and inspiring commitment will be even more integral to an organisation’s success in the future.11 Companies need leaders that can bring these skills to the table.

 

The impact of the above should be able to generate between £8m – £45m in UK individual user subscription sales within 3 years. Once scaled in the UK RALI will expand to relevant global markets.

 

  1. Global market in 2013 was circa $307bn

North America accounted for $142bn, Europe $89bn, Asia $31bn, India $21bn, Australia $9.2bn, South America $6.3bn, Africa $3.6bn, rest of the World $4.6bn (Source ASTD)

 

  1. Source: REC 2016 report

 

  1. McKinsey – What the future of work will mean for jobs and skills

 

  1. Willis Towers Watson – automation will nearly double in the next 3 years

 

  1. The institute for Public Policy Research

 

  1. HBR: 3 things CEO’s worry about the most

 

  1. Manpower group annual talent shortage survey

 

  1. Fortune.com: How companies can fill the skills gap

 

  1. Cloudfront.net

 

  1. DDI World

 

  1. Leadership gap what you need

 

It is within this context that our RALI tool has been developed.

RALI will disrupt the way in which future leaders are profiled and ranked versus peers and future market needs . RALI will create a new marketplace connected leaders of the future to organisational requirements for leaders to fuel growth by facilitating both sides of the equation with new insights & intelligence which increase productivity

RALI Innovation

The above slide deck provides more details of our research and market applications .The slides illustrate what is distinctive and unique of RALI .

 

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