Finding great ideas and emerging talent deep within the layers of a huge, global organization can seem like searching for a needle in an ever-expanding haystack.

Look at the difficult problems associated with finding great talent.  Talent processes often rely on observations and reportage from increasingly busy managers who must first recognize, and second, shine the light on up-and-coming professionals and future leaders.  It takes years to develop a capable senior leader.  To accommodate business growth and attrition, those in charge of Leadership Development say they are urgently seeking new ways to find high performers earlier in their careers.  They need alternative sources to find people in case managers miss opportunities to bring people forward.

If finding talent is hard, finding new ideas is harder.  It’s nearly impossible to know where great ideas may be percolating in organization, or stranded in people’s minds with no one to pull them out. Even if you get them out, they often have no place to go and no formal practices to give them hope of long-term survival.

Mitra Best at PwC created a solution to both challenges in one new, bold initiative.

Mitra’s brainchild is a contest, not too unlike the famous singing competition that’s garnered the most viewers in television history for several years running.  Mitra realized – and most companies now acknowledge – that the enduring success of an organization depends on building avenues to connect fresh approaches, new models, and fascinating ideas that build the foundation of future growth.

Mitra also realized that everyone loves to watch a fierce contest among a talented crop of tough competitors.  There’s something so compelling about watching and rooting for people pitted in a fight that tests skill, personality, knowledge and poise for a chance to change the course of their lives.

Mitra combined these thoughts to create a competition that would not only generate new ideas to expand the PwC business model, but also bring their owners, fresh, eager teams of PwC talent, to everyone’s attention.  The competition required teams to choreograph elaborate presentations and explanations to describe the business potential for each of their ideas.

The winning team would not only capture a $100,000 prize but also be invited to carry their ideas to the next steps of design, creation and implementation.  See more highlights on Mitra’s story here in Money’s Online Magazine.

Mitra will describe how she implemented PwC’s Power Pitch Program, and what she did to establish the Office of Innovation at PwC, in a presentation on Wednesday, May 16 at the CorpU Global Leadership Congress at the University Of Pennsylvania, Philadelphia PA.

You will learn about the quality of the 800 ideas submitted to the Power Pitch Program, the processes used to sift through ideas over a 9-month period to arrive at the final five teams of presenters, and how winning ideas are now being carried forward by senior leader “sponsors.”

Learn more about the event here at: CORPU GLOBAL LEADERSHIP CONGRESS

If your job depends on finding and developing talent, or teaching leaders to drive innovation, you’ll find many great ideas from PwC – a company known for driving profitable growth through innovation.

 

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