Barclays Case Study: You Can't Do That Here!


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  • Barclays Case Study: You Can't Do That Here!

    1. 1. Barclays Incentives Programme Robert Bond Barclays Bank
    2. 2. Agenda <ul><li>You Can’t Do That Here </li></ul><ul><li>Executing in a New Market </li></ul><ul><li>Why Barclays Made this Decision </li></ul><ul><li>Journey So Far </li></ul><ul><li>Complimenting Our Strategy </li></ul><ul><li>Embrace Change with Pace </li></ul><ul><li>Your Success </li></ul>
    3. 3. You Can’t Do That Here! <ul><li>“ Reasons why Incentives won’t work” </li></ul><ul><li>“ It just can’t be done” </li></ul><ul><li>“ This is the UK not the USA” </li></ul><ul><li>“ Things are different here” </li></ul>&quot; The person who says it can't be done should not interrupt the person doing it. &quot; Chinese Proverb
    4. 4. <ul><li>North America </li></ul><ul><li>Early adopter of innovative technology to improve sales performance management </li></ul><ul><li>Part of the executive management team that implemented Callidus in a Fortune 500 US Bank </li></ul><ul><li>Transformed Bank into National player through acquisition </li></ul><ul><li>Europe </li></ul><ul><li>One of the first Retail Banks in the UK to implement an enterprise incentive management solution </li></ul>Executing in a New Market “ The road to success is always under construction. ”
    5. 5. <ul><li>First we have to articulate the case </li></ul><ul><li>for change </li></ul><ul><li>Win hearts and minds </li></ul><ul><li>Motivation </li></ul><ul><li>Get folks to want to do it more than their bosses want them to do it </li></ul><ul><li>Growth, Increased value and </li></ul><ul><li>Improved service for: </li></ul><ul><li>Our Customers </li></ul><ul><li>Our Employees </li></ul><ul><li>Our Shareholders </li></ul>Why Barclays Made This Decision
    6. 6. <ul><li>Where are we now: </li></ul><ul><li>The Incentive scheme was implemented in 6 months for 20,000 participants </li></ul><ul><li>Participants are now paid monthly </li></ul><ul><li>First time we’ve had a direct link to Service and Sales </li></ul><ul><li>Plans to have our other SBU’s moving to incentives underway </li></ul>Journey So Far... <ul><li>Where were we: </li></ul><ul><li>An annual bonus scheme </li></ul><ul><li>It was based on a wide variety of factors making it harder to quantify real value </li></ul><ul><li>Very subjective and aligned to expected distribution curves </li></ul>
    7. 7. <ul><li>Running a franchise </li></ul><ul><li>model </li></ul><ul><li>Empowering our colleagues in running a franchise model </li></ul><ul><li>Make it your business & make it work </li></ul><ul><li>Maximise your market entrepreneurial spirit </li></ul><ul><li>Incentives supports and complements </li></ul>Complimenting Our Strategy
    8. 8. <ul><li>Considerations in the UK Market </li></ul><ul><li>Working Practices </li></ul><ul><li>People Culture </li></ul><ul><li>Approach To Service </li></ul><ul><li>Role of the Unions </li></ul><ul><li>Compliance </li></ul>Embrace Change With Pace
    9. 9. <ul><li>Incentives Role: </li></ul><ul><li>Incentives is not a replacement for management </li></ul><ul><li>It is a strategic weapon to support your business </li></ul><ul><li>Don't’ be afraid of change or afraid of change at pace </li></ul>Your Success   &quot; I've missed over 9,000 shots in my career.  I've lost almost 300 games.  26 times I've been trusted to take the game-winning shot . . . and missed.  I've failed over and over and over again in my life.  And that is why I succeed. &quot;   Michael Jordan
    10. 10. <ul><li>Communication </li></ul><ul><li>Make it clear & consistent. We are dealing with people’s livelihoods and every penny counts! </li></ul>Your Success <ul><li>Education and Understanding </li></ul><ul><li>Everyone should understand how their plans and incentives work </li></ul>“ A great plan communicated poorly is not as good as a poor plan communicated in a great way.”
    11. 11. Your Success &quot;Outstanding leaders go out of their way to boost the self-esteem of their personnel. If people believe in themselves, it's amazing what they can accomplish.&quot;
    12. 12. Your Success “ If you can dream it, you can do it.” Walt Disney
    13. 13. Your Success &quot;You miss 100 percent of the shots you never take.&quot;
    14. 14. <ul><li>Questions </li></ul>Thanks For Your Time Barclays Incentives Programme Thanks for your time today Robert Bond Barclays Bank