RBC's Approach to Talent Management - HRMATT

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Amos Herai has over 15 year’s Senior Management experience in Human Resource Management. During his career he has held Senior HR roles in the Manufacturing, Hospitality and Financial Services sectors. His experience has covered all aspects of Human Resource Management, including Executive Recruitment, Executive
Development, Expatriate Management and Executive and Managerial Compensation.

Mr. Herai is at present the Head of Human Resources of the RBC Caribbean Banking. He leads a diverse HR team from twenty territories in the English and Dutch speaking
Caribbean. He is responsible for developing and implementing the HR strategies, programs and policies for RBC Caribbean which include Organizational Development, HR policy and governance and programs covering Reward and Recognition, Talent Management, Employee Relations, Learning and Development, Performance Management, and Compensation & Benefits.
Mr. Herai graduated from the University of the West Indies with a Bsc. In Sociology and Management and an Msc. in Management Studies, specializing in Human Resource
Management. Amos is also a Past President of HRMATT.

PRESENTATION SUMMARY – An Integrated approach to Talent Management and Leadership Development
A key component of RBC’s business strategy planning is the development and integration of talent strategies. Our Integrated Talent Management and Leadership Development Framework enables a holistic approach to strategic talent planning to help leaders meet their business/functional objectives. RBC’s executive talent management focuses on the executive team and the high potential pools to succeed that team. The presentation will define:
• RBC’s Talent Management Philosophy
• RBC Caribbean Talent Management objectives & Programs
• An Overview of Current Successes
• Towards an Integrated Talent Management Program
• Details of RBC Enterprise and RBC Caribbean Specific Programs.

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  • HR UPGRADED...v2K13 and Beyond -- HRMATT's 9th Biennial Conference
  • RBC is one of Canada’s largest bank as measured by assets and market capitalisation, and the 11th largest bank in the world, based on market capitalisation (Source: Bloomberg, February 24, 2012). We are one of North America’s leading diversified financial services companies, and provide personal and commercial banking, wealth management services, insurance, corporate and investment banking and transaction processing services on a global basis. We employ approximately 80,000 full-time and part-time employees who serve close to 15 million personal, business, public sector and institutional clients through offices in Canada, the U.S. and 51 other countries.
  • RBC has a longstanding presence in the Caribbean, with operations first established in 1882. The acquisition of RBTT Financial Group in 2008 has increased RBC’s presence in the region creating a network of 121 branches in 20 countries and territories, along with a representative office in Central America. RBC/RBTT in the Caribbean employs close to 6,400 employees.
  • Captured on this slide is an overview of our Integrated Talent Management Framework which highlights key elements of the end-to-end talent management process. I don’t plan to go through the overall process in detail as most of you should be familiar with it. However, I thought it would be helpful to highlight a couple of elements that relate specifically to the Talent Review Process. Each year, we conduct a formalized review of our talent at the enterprise level that incorporates several aspects of the Framework. The assessment of talent - includes the identification of high potential talent, assessment of potential and succession planning to build the depth and diversity of our leadership pipeline. Development planning - is aligned to business strategies and includes actions to build capabilities at both the individual and organizational level. As part of the talent review process, it is important to determine development needs of successors, critical roles and HIPOS and collectively build plans to address development needs to ultimately strengthen our succession pools. Talent is then deployed to maximize current and future performance. These activities support our 2012 RBC People Priorities to Advance Talent Management. NOTE: The philosophy and principles that drive the Executive and High Potential talent reviews also extend further into the organization and are applied more broadly at the business and functional levels. Business and functional leaders and HRBP’s are committed to and held accountable for ongoing talent management activities including the identification, assessment and development of talent to increase the overall depth and diversity of leadership and talent pipeline and to strengthen succession for pools for key roles.
  • This slide provides a roadmap outlining some of the key activities that take place during the talent review process OVERVIEW If we start at the beginning – Our responsibility is to clearly outline the process, accountabilities and timelines. provide tools & resources that will enable a common Talent Management approach across the enterprise - with more discipline and rigor REVIEW OF THE HIPO POOL The first step is really to assess and identify HIPO talent – discussion(and for most, the activities and discussion will focus on non-executive high potentials, if the team includes OC Potentials then the discussion naturally evolves to includes and identifying those individuals as successors for specific OC roles) SUCCESSION PLANNING - The objective of succession planning is to ensure RBC has the depth and diversity of leadership to execute our current and future business strategies. I LEADERSHIP DEVELOPMENT PLANNING For all HIPOs that are identified we want to develop meaningful development plans that build capability for the individual and for RBC and then ultimately we CALIBRATE talent at various levels TOOLS & RESOURCES The table at the bottom of the slide lists the various tools and resources that are available and can be used at any given point in the process
  • This slide gives and overview of our enterprise talent pools – we have 3 distinct pools of talent that apply across the organization It is important to emphasize that the HIPO Identification includes consistent High Performance, strong rating against the HIPO Criteria, demonstrated RBC Capabilities
  • RBC's Approach to Talent Management - HRMATT

    1. 1. HRMATT’s 9th Biennial Conference – May 13th & 14th, 2013 RBC’s Integrated ApproachRBC’s Integrated Approach to Talent Managementto Talent Management Amos Herai HRMATT’s 9th Biennial Conference Hilton Trinidad & Conference Center May 13 2013
    2. 2. HRMATT’s 9th Biennial Conference – May 13th & 14th, 2013 Introduction • At RBC we believe that to achieve our strategic goals a key people priority is to significantly Advance Global Talent Management • This requires an Integrated approach to Talent Management with robust processes and best in class talent initiatives • This presentation provides an overview of RBC’s enterprise Talent Management approaches and programmes as well as Caribbean Banking specific initiatives to advance Talent Management
    3. 3. HRMATT’s 9th Biennial Conference – May 13th & 14th, 2013 Roadmap About RBC: Corporate Profile About RBC: Caribbean Profile RBC People Priorities RBC Approach to Integrated Talent Management RBC Caribbean Integrated Talent Management initiatives Q&A
    4. 4. HRMATT’s 9th Biennial Conference – May 13th & 14th, 2013 Insert world map 5th largest bank in North America 11th largest bank globally by Market Capitalisation Offices in Canada, the U.S. and 49 other countries 15 million clients worldwide RBC: A Global Financial Institution 80,000 full- and part-time employees worldwide Largest bank in Canada by Assets and Market Capitalization
    5. 5. HRMATT’s 9th Biennial Conference – May 13th & 14th, 2013 RBC International Locations UK Channel Islands Japan Hong Kong Singapore Australia Beijing Dubai Europe 1,576 1,169 6,745 263 96 UK Channel Islands Caribbean (19 countries) Europe & Africa 697 Asia & Oceania Latin America (3 countries) Caribbean India Latin America # Emps 10,500+ employees in approximately 49 Countries10,500+ employees in approximately 49 Countries Brunei
    6. 6. HRMATT’s 9th Biennial Conference – May 13th & 14th, 2013 Suriname Trinidad & Tobago Barbados RBC Caribbean Banking Grenada Montserrat St. Vincent & The Grenadines Antigua Saba St. Kitts/Nevis St. Maarten Haiti Dominican Republi c Turks and Caicos Islands Cuba Aruba Curacao Bonaire Bahamas Cayman Islands Eastern Caribbean Dominica St. Lucia Jamaica Dutch Caribbean RBC in the Caribbean Number of Branches 121 Number of ATMs 344 Number of clients >1 Million Number of Employees Number of Countries >6,400 20
    7. 7. HRMATT’s 9th Biennial Conference – May 13th & 14th, 2013 RBC Vision Always earning the right to be our clients’ first choice
    8. 8. HRMATT’s 9th Biennial Conference – May 13th & 14th, 2013 RBC External Recognition & Rankings • North American Retail Bank of the Year 2012 & 2013 (Retail Banker International) • 2010 & 2011 Catalyst Award for Diversity • Canada’s Best Employers for New Canadians (Mediacorp Canada Inc.) • Canada’s Top 100 Employers (Mediacorp Canada Inc.) • 10th largest global investment bank by net revenue (Dealogic, 2012) • Several market leading positions in Capital Markets, Wealth Management, Mutual Funds and Banking
    9. 9. HRMATT’s 9th Biennial Conference – May 13th & 14th, 2013 RBC Key People Priorities Significantly Advance Global Talent Management RBC People Priorities Strengthen & Engage the Workforce for Now and the Future Drive Productivity & Performance through Capability, Innovation and Rewards Alignment To be the undisputed leader in financial services in Canada To build on our strengths in banking, wealth management and capital markets in the United States To be a premier provider of selected global financial services RBC strategic goals Significantly Advance Global Talent Management RBC People Priorities Strengthen & Engage the Workforce for Now and the Future Drive Productivity & Performance through Capability, Innovation and Rewards Alignment To be the undisputed leader in financial services in Canada To build on our strengths in banking, wealth management and capital markets in the United States To be a premier provider of selected global financial services RBC strategic goals Drive Productivity and Performance Team and HR Leadership (Talent Management / Leadership Behaviours) Caribbean Banking People Priorities Implement new HR Operating Model Continue to build a robust Talent and Succession Pipeline for Caribbean Banking In collaboration with the Caribbean Banking Operating Committee strengthen and engage the workforce
    10. 10. HRMATT’s 9th Biennial Conference – May 13th & 14th, 2013 RBC ENTERPRISE APPROACH TO INTEGRATED TALENT MANAGEMENT
    11. 11. HRMATT’s 9th Biennial Conference – May 13th & 14th, 2013 RBC’s Beliefs About Leadership and Organizational Success: • Effective leadership differentiates successful businesses from unsuccessful ones • Leadership development must be explicitly aligned to business strategies and long term aspirations, and deliver the capabilities needed to succeed both in the present and future • Top management’s deep and visible commitment to leadership development and succession management is a fundamental condition for success • Through their actions, leaders set the tone for the organization – for the vision, values, and open communication that are needed for a high performance culture • Leadership potential, which includes knowledge and experience, personal aspiration and leadership behaviours, is best developed through experiences – supported by coaching, feedback, and formal learning
    12. 12. HRMATT’s 9th Biennial Conference – May 13th & 14th, 2013 20% Coaching & Feedback Mentoring & peer networks Internal and external coaching Multi-rater & In-depth assessments 70% Experience-based Development Targeted developmental assignments On-the-job support and resources which optimize learning from experiences Action Learning & team-based assignments 10% Formal Learning Proprietary and external programs RBC Leadership Development: How Leaders Learn
    13. 13. HRMATT’s 9th Biennial Conference – May 13th & 14th, 2013 Integrated Talent Management The overall objectives of RBC Integrated Talent Management (ITM) are to: • ensure RBC has the talent to maintain competitive advantage today and build strategic capabilities for the future • build depth, breadth and diversity of our leadership pipeline and ensure succession for Executive and Managerial key roles. In order to do this we must:  Increase confidence that the right people have been identified in talent pools  Focus on increasing representation of women and visible minorities  Provide key talent with experience (including international), exposure, targeted development opportunities and active sponsorship  Build enterprise mindset, global perspective and change leadership capabilities
    14. 14. HRMATT’s 9th Biennial Conference – May 13th & 14th, 2013 Integrated Talent Management Framework “Return on People” Performance Engagement Retention SOURCE &SOURCE & ATTRACTATTRACT DEVELOPDEVELOP ENABLE & ASSESSENABLE & ASSESS PERFORMANCEPERFORMANCE CULTURE &CULTURE & CAPABILITIESCAPABILITIES Business Strategy People & Culture Assessment Measures & Monitoring COMPENSATE/COMPENSATE/ REWARDREWARD Identify critical roles/jobs Understand internal workforce demographics and external labour market – current and future Define Employee Value Propositions Talent reviews Assessment of potential (internal and external) Succession planning Determine overall implications of strategy and for specific employee segments Define Talent Needs Experienced-based Development Coaching and Feedback Formal Learning Programs DEVELOPDEVELOP ASSESS TALENT ASSESS TALENT DEPLOYDEPLOY
    15. 15. HRMATT’s 9th Biennial Conference – May 13th & 14th, 2013 ITM – Road Map Identification Assessment and Nomination Succession Planning HIPO Calibration Leadership Development Planning • Identification, assessment and calibration of executive and non-executive high potential talent • Succession planning for Caribbean Banking Operating Committee (CBOC) and other key executive roles (including action plans to close gaps) • Development planning for successors and high potential talent These activities support and align with RBC People Priorities to ‘Enhance Integrated Talent Management’ and are the foundation to building a deep and diverse leadership pipeline. HR Business Partners play a critical role in each step of the roadmap in support of the Business.
    16. 16. HRMATT’s 9th Biennial Conference – May 13th & 14th, 2013 High Potential (HIPO) Pool Structure Early Promise (Early in Career) • Individuals who demonstrate signs of potential to become a senior manager within 3-5 years and executives within 5-8 years • Typically middle management level or equivalent • Minimum 18 months tenure at RBC • Early in career (5–10 years) Executive Potential (Advanced Career) • Typically senior managers with potential for promotion to executive level within 3-5 years • Identified for succession for key roles Non-Exec talent pools Exec talent pools OC Potential (OC Successors) • Current OC members identified as successors for other OC role, and… • Individuals with potential for promotion to OC roles within 0-5 years • Typically VP level or equivalent Annual HIPO Identification  Performance  Potential  Aspiration & Ambition  Learning Agility & Inquisitiveness  Emotional Intelligence  Intellectual Capacity  Key Leadership Characteristics  RBC Capabilities
    17. 17. HRMATT’s 9th Biennial Conference – May 13th & 14th, 2013 RBC CARIBBEAN INTEGRATED TALENT MANAGEMENT INITIATIVES
    18. 18. HRMATT’s 9th Biennial Conference – May 13th & 14th, 2013 Caribbean Banking People Priority: Continue to Build a Robust Talent and Succession Pipeline Objectives: 1. Increase the depth, leadership versatility and diversity of our current and future leadership talent 2. Align High Potential Development to business strategies in order to deliver capabilities and performance needed now and in the future 3. Build the Internal Talent Pool through Strategic Recruitment Programs
    19. 19. HRMATT’s 9th Biennial Conference – May 13th & 14th, 2013 Talent Identification and Assessment High Potential Development Develop People Managers – Managerial Excellence (MEx ) Build the Internal Talent Pool Caribbean Banking People Priority: Continue to Build Robust Talent and Succession Pipeline Diversity remains a key element of our Talent Strategy focusing of Women and Caribbean Nationals. Commitments to Deliver
    20. 20. HRMATT’s 9th Biennial Conference – May 13th & 14th, 2013 Talent Identification and Assessment > Conduct 2013 Talent Review and revise Succession Plan for CBOC and critical roles > Cascade Caribbean Banking Integrated Talent Management program to include identification of potential at the business/functional level Middle and Junior managers Caribbean Banking People Priority: Continue to Build Robust Talent and Succession Pipeline
    21. 21. HRMATT’s 9th Biennial Conference – May 13th & 14th, 2013 Develop People Managers – Managerial Excellence (MEx ) >Cascade current Caribbean Banking MEx program to Junior Managers > Introduce targeted MEx modules to Senior Managers Caribbean Banking People Priority: Continue to Build Robust Talent and Succession Pipeline
    22. 22. HRMATT’s 9th Biennial Conference – May 13th & 14th, 2013 High Potential Development > Identify Executive Potential for CBOC roles and implement development plans in collaboration with CBOC members > Establish Talent Forums at the business/functional Level Middle and Junior Managers > Implement Second Cohort of Mentoring program Caribbean Banking People Priority: Continue to Build Robust Talent and Succession Pipeline
    23. 23. HRMATT’s 9th Biennial Conference – May 13th & 14th, 2013 Build the Internal Talent Pool > Build High Potential Pool through the establishment of a Caribbean Banking Leadership program (CLP) > Develop Peer Networking program to Link Caribbean HIPO talent to Experienced leaders in Canada Caribbean Banking People Priority: Continue to Build Robust Talent and Succession Pipeline
    24. 24. HRMATT’s 9th Biennial Conference – May 13th & 14th, 2013 Caribbean Banking People Priority: Continue to Build a Robust Talent and Succession pipeline Caribbean Banking Talent Forum • The Caribbean Banking Talent Forum is a Sub Committee of the CBOC that meets bi-monthly to discuss the accelerated development of High Potential Talent identified as potential successors for operating committee roles. • To date the Forum has been active from 2011 and has accelerated development plans in place for all potential successors to the Executive and Senior Management roles. Market Level Talent Forum • The Talent Review forum has been cascaded throughout Caribbean Banking at the Market level for High Potential talent at the Junior and Middle Manager levels • Market leaders in different Islands replicate the Talent Forum approach for middle and junior managers
    25. 25. HRMATT’s 9th Biennial Conference – May 13th & 14th, 2013 Mentoring Programs Caribbean Banking People Priority: Continue to Build a Robust Talent and Succession Pipeline 1. RBC Leadership Mentoring Program  Provides key talent with the opportunity to have relevant, timely and insightful “career conversations”; gain broader perspectives about the Enterprise, its values, expectations and behaviors; acquire in-depth understanding of other platforms and enhance leadership capabilities  To date six High Potential Caribbean employees are partnered with a mentor outside of the Caribbean 2. RBC Leadership Caribbean Mentoring Program  Reinforces and integrates personal development for high potential talent through relationship-based mentoring with senior leaders, focused on broadening their view of the RBC businesses and to increase their visibility and profile within Caribbean Banking.  Thirteen High Potential Caribbean employees have partnered with a Caribbean Banking Operating Committee member as mentor.
    26. 26. HRMATT’s 9th Biennial Conference – May 13th & 14th, 2013 RBC Caribbean Peer Networking Program Caribbean Banking People Priority: Continue to Build a Robust Talent and Succession Pipeline Objectives: • The RBC Caribbean-Toronto Peer Networking Program - the exposure of Caribbean talent to RBC Enterprise best practices and the building of networking partnerships between Caribbean and Enterprise employees of similar disciplines. Overview: • Caribbean HIPO is matched with an Enterprise counterpart within a similar discipline, taking into consideration the HIPO’s current role, experience, career aspirations and development needs. • Program participants are expected to connect with each other at least once per month (virtual) over a 6-month period. • Caribbean talent visit peer for a 3-5 day visit, twice during the program.
    27. 27. HRMATT’s 9th Biennial Conference – May 13th & 14th, 2013 Caribbean Leadership Program (CLP) Caribbean Banking People Priority: Continue to Build a Robust Talent and Succession pipeline • The CLP develops future leaders through a cross-functional approach based on the principle that leaders learn best from experience and exposure to a breadth and variety of challenges. • Over a minimum two-year period, CLP Trainees are placed in maximum of 4 assignments of approximately 6 months in various Caribbean Banking businesses and functions. • These assignments may entail such opportunities as working directly with clients, researching new products and markets, structuring deals, assessing company and industry risk and exploring strategic options for business growth.
    28. 28. HRMATT’s 9th Biennial Conference – May 13th & 14th, 2013 Caribbean Banking People Priority: Continue to Build a Robust Talent and Succession Pipeline Developing Caribbean Talent The selective placement of Caribbean Expatriate staff for development of high potential talent via Intra-Caribbean, experience-based assignments. This Initiative: • Builds exposure to Caribbean Banking and facilitates global readiness • Facilitates the building of a Caribbean Network/Team • Facilitates a robust Caribbean Banking succession planning process • Builds Caribbean Banking engagement through increased developmental and career opportunities • Aligns to the Caribbean Banking Diversity Objectives of increasing the diversity of representation of Caribbean Nationals throughout the Caribbean Banking platform 33 Caribbean Expatriate staff are currently on experience based assignments surpassing our initial goal of 30.
    29. 29. HRMATT’s 9th Biennial Conference – May 13th & 14th, 2013 Caribbean Banking Diversity Focus • To increase the representation of women at Executive and Senior Management levels – At Present Executives: 33% Senior Managers : 35% Middle Managers 59% • To ensure a diverse representation of Caribbean nationals at Business, Functional and Head Office levels − Goal of 30 Intra-Caribbean Expats by 2013 (33 achieved to date) • To increase the representation of persons with disabilities working at RBC Caribbean Banking
    30. 30. HRMATT’s 9th Biennial Conference – May 13th & 14th, 2013 Measuring Success • Successor Pool Coverage: • 1 to 2 Viable candidates identified as 1-3 year ready for Executive roles • 1 to 2 Ready Now candidates for all Senior Management roles • Leadership Development Plan Prevalence Rate - High Potential: • 90% of High Potential employees with active Leadership Development Plans in place • The number of planned high potential moves completed • Regrettable attrition rate • Specific targets for high potential employees for talent initiatives
    31. 31. HRMATT’s 9th Biennial Conference – May 13th & 14th, 2013 Conclusion • Integrated Talent Management is a key people priority for RBC to attain its business objectives • RBC’s Integrated Talent Management consists of deliberate talent processes and Initiatives to assess develop and deploy talent to enable a strong and robust Talent and Succession pipeline • RBC’s Integrated Talent Management ensures that RBC has the Talent to maintain its competitive advantage today and build strategic capabilities in the future
    32. 32. HRMATT’s 9th Biennial Conference – May 13th & 14th, 2013 Q&A

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