Old Mutual Team - Implementing Cultural Transformation in a Decentralised International Environment

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  • Key messages: Leadership role-modelling is key Build up capacity early in the process (in HR and leadership facilitation)
  • To develop healthy, high performing cultures in each business, reflective of the Old Mutual core values and leadership actions described in ACT NOW! To continue to embed ACT NOW! as our values in practice

Transcript

  • 1. CulturalTransformation
  • 2. Who are we? Liz Murphy, Group head Talent and culture Melissa Dean, Director Transformation Management, Wealth ManagementSusan Turton, Organisationaleffectiveness, Emerging Markets Serena Naidu, head of Pleuntje van Meer Employee Engagement, External Consultant/ Nedbank Coach
  • 3. Our agendaOld Mutual’s journey of transformation: a practitioners’ perspective Wealth: building capacity and top team alignment Group: taking the work group-wide Emerging markets: a rolling start Nedbank: Year-year sustaining the journey Q&A
  • 4. Design principlesOld Mutual’s journey of transformation: a practitioners’ perspective1. Strategy, Structure, Culture • Clarity of direction => vision& purpose • Organising to match the above • Quality of interaction => capability& mindset1. Not a roadmap => Initiating waves • Leadership • Building internal capacity • TTT
  • 5. Wealth: Building Capacity & Topteam alignment
  • 6. Alignment requires a shared experience: From: Non-Aligned Group To: Aligned Team • Hidden agendas • Transparency • Empire building • Collective 1. Expanded self- responsibility • Silo thinking awareness • Dialogue • Slow decision making 2. Deeper understanding of • Decision making • Lack of each team • Accountability innovation/creativity members reality • Blame 3. Joint directionIt has to get personal. “Safe” environment, based on trust;A superficial, conversation will make Skilled facilitation; A well designedthings worse. and proven process
  • 7. Roles in Culture TransformationRoles responsibilitiesExCo -Walk the talk, be a role. Keep the transformation programme honest -Accountable for culture shifts and healthy behaviours -Not to drive cultural transformation as an HR intitiativeCulture Leads -Walk the talk - Mentor and challenge top leadership, facilitate conversations -Skilled in applying methodology and extensive toolset for transformation - Not allowing blame and dysfnctional behavioursHR - Act as Culture Transformation facilitators+ knowledge of CTT assessment& facilitation -Trained as Culture Leads or guides and operate hand-hand with business leaders - Not to own the culture agenda nor to drive the plans- this belongs to the business
  • 8. Taking the work Group-wide
  • 9. Getting started…. Global Financia l Crisis New Vision: One Group with the customer at the centre Values in practice: ACT NOW! leadership actions Personal Values Individual values assessments and personal values Metrics and Case studies ...building curiosity, making it safe
  • 10. Engaging everyone.... 2011 2012 Response rate: 70% Response rate: 73% Individual Group values business ACT NOW! cultures ...Connecting over controlling
  • 11. Emerging Markets: a rolling start
  • 12. The OMEM Story1. Started introducing the Culture Tool in 2011  Education and awareness  Building capability2. Year two (2012), Leadership alignment  Work together to strengthen the culture  Tell the story to the rest of the business  Role model what this journey is suppose to look like3. Year three (2013) will be about building a broad Leadership Transformation Programme  Engage a base of Culture Leads to support Leadership  Shift and build the culture  Challenge  Create awareness
  • 13. The OMEM Story: creating engagement1. Our culture story has been one of celebration  Embracing the ethos  High Participation  Great ResultsKey Questions: how do we strengthen our results going forward?2. Many Employee Engagement drivers and a compelling EVP  Key shifts: Best Employer SA and Top Employer Africa as two examples  This recognition contributes to our culture shiftKey Challenge: continuing to strengthen our Employee Engagement drivers into the future
  • 14. Nedbank: year-year sustaining theculture
  • 15. Current Culture Evolution 2005 2006 2007 2008 1. cost-consciousness 1. cost-consciousness 1. client-driven 1. accountability 2. profit 2. accountability 2. accountability 2. client-driven 3. accountability 3. client-driven 3. client satisfaction 3. client satisfaction 4. community involvement 4. client satisfaction 4. cost-consciousness 4. community involvement 5. client-driven 5. results orientation 5. community involvement 5. achievement 6. process-driven 6. performance driven 6. performance driven 6. cost-consciousness 7. bureaucracy (L) 7. profit 7. profit 7. teamwork 8. results orientation 8. bureaucracy (L) 8. achievement 8. performance driven 9. client satisfaction 9. teamwork 9. being the best 9. being the best 10. silo mentality (L) 10. community involvement 10. results orientation 10. delivery 3 matches 4 matches 4 matches 5 matches Entropy 25% Entropy 19% Entropy 17% Entropy 14%
  • 16. Current Culture Evolution 2009 2010 2011 2012 1. accountability 1. accountability 1. accountability 1. accountability 2. client-driven 2. client satisfaction 2. client-driven 2. client satisfaction 3. client satisfaction 3. client-driven 3. client satisfaction 3. client driven 4. cost-consciousness 4. teamwork 4. brand reputation 4. brand reputation 5. community involvement 5. brand reputation 5. achievement 5. teamwork 6. achievement 6. being the best 6. teamwork 6. environmental awareness 7. teamwork 7. achievement 7. environmental awareness 7. employee recognition 8. employee recognition 8. commitment 8. commitment 8. performance driven 9. being the best 9. community involvement 9. being the best 9. community involvement 10. performance driven 10. cost-consciousness 10. cost-consciousness 10. people-centred 6 matches 6 matches 6 matches 5 matches Entropy 13% Entropy 13% Entropy 11% Entropy 10%
  • 17. Overarching Conceptual Framework that continues to shape our journey… The lessons that we have learnt along the *Overarching Change Methodology way guide our approach… •Cultural change needs to be supported by various levers. From an Transforming Intact, HR perspective, all initiatives are Transforming the Individual Natural Teams geared to enhance our culture journey •The transformation of 2000 leaders through LFDG has proved to be a tipping point for a major change • This programme is being cascaded to Personal Leadership:- (e.g.) the next +/- 7000 in the next 3-5 Leading for Deep Green (LFDG) Team Leadership:- :(e.g.) Coaching & Mentoring Leading for Deep Green (LFDG) years, this can only strengthen our Diversity Management Programmes Talent Management gains Transforming Organisational Culture Transforming Inter-Team Relationship •Measurement still matters- ‘what we can measure we can manage’. Next step is to measure behaviours linked to our values and leadership philosophy Strategic Context •Cultural capital is the outcome of everything that we do and continue to Communities of Leaders :- (e.g.) Lateral Leadership:- :(e.g.) be accelerated through 3 levers: Transformation Succession Planning (cross-cluster) •Values-based leadership, LFDG Systematic themes Talent Management strategy and transformation*Change Framework as adapted from Leading For Deep Green
  • 18. QUESTIONS?? Rational/ Thinking Emotional/ Feeling Performance/ Action Orientation