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The company plans to have a 2012 summer internship class of 80 and to grow the class by 50% each year.“In essence, one of the main reasons for the program’s results to date is that it is centered around providing high-quality experiences for a small number of talented individuals,” says Mr. Case Study Two: Finance Talent Transformation The next case study involves a 200 company that was undergoing a large-scale finance transformation.“Talent management is a strategic issue facing finance organizations, and at many companies it is a very real contributor to shareholder value,” says Rich Rorem, a principal with Deloitte Consulting LLP and U. Finance Transformation leader, during a Deloitte Dbriefs webcast, .
To support the company’s growth objectives, the CFO, working with HR, developed a talent strategy focused on recruiting top new talent, identifying high-potential talent among current employees, leadership development, talent deployment and succession planning: The company’s finance leadership development program had four main components.
Participants in the internship program first had to work on real business problems and rotate within and sometimes outside the finance function.
“By organizing activities and orientation in groups, employees really began to build a sense of community and strengthened their business networks,” adds Mr. Next, it was important to focus on building technical and management skills, so formal programs were established.
The mix of the delivery methods, including in-person and online, permitted the participants to spend more time on special projects.
The company’s finance function was looking to become a full partner with the business to add strategic value across the board.
Technology, systems and processes were transforming, and the plan was to change the finance function’s staffing profile.Last, participants were expected to take ownership of their careers, making them responsible for understanding their career expectations.They also were assigned mentors, who could share their experiences and provide support.This publication is not a substitute for such professional advice or services, nor should it be used as a basis for any decision or action that may affect your business.Before making any decision or taking any action that may affect your business, you should consult a qualified professional advisor.The goal was to make the experience as professional as possible and as real as possible for participants.The internships were paid, and participants worked together to solve actual business issues, providing them a sense of accomplishment and on-the-job training that is important. The program’s second component involved immersing participants in the culture of the organization, to reinforce the company’s values.The talent assessment subsequently led the company to acquire the talent needed to fill gaps that could not be addressed by existing talent and undertake succession planning.The competency model and assessment of employees against that model formed the building blocks for the overarching talent strategy.“We created a finance talent strategy that linked to the organization’s existing talent management programs and other HR programs, making them specific to finance,” says Mr. “Finance acted as the catalyst in driving innovative new HR programs, some of which the organization ultimately carried forward and applied to other functions, leveraging what HR had brought to the table, as well as identifying future critical jobs.” The overhaul of the company’s approach to finance talent management was part of a larger transformation of its finance function, moving from a tactical numbers shop to a high-performing, strategic business partner to the other business units.One goal was to make finance a net exporter of talent to the broader organization.