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ADP ReThink Global HCM: Human Capital Management


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By Dan Deets
SVP, HR Services Executive
Bank of America

Published in: Economy & Finance, Business

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  • 1. Human Capital Management (HCM) Dan Deets SVP, HR Services Executive
  • 2. Bank of America For more than 200 years… Bank of America has been connecting people, companies and institutional investors
  • 3. People  49MM consumer and small business relationships  5,151 banking centers Bank of America  16,259 automated teller machines  Leading provider of mobile banking services with 14MM active users  No. 1 in online banking1; 30MM active accounts 1 Source: comScore, Q4-13 US Online Bank Benchmarker.
  • 4. Companies  One of the largest U.S. Commercial Banks and a Top 3 global player within Corporate and Investment Banking Bank of America  Relationships with 83% of the 2013 Global Fortune 500 and 98% of the 2013 U.S. Fortune 1,000
  • 5. Institutional Investors  Unparalleled coverage with nearly 700 analysts covering 3,400+ companies, 1,000+ corporate bond issuers across 60 countries and 25 industries Bank of America
  • 6. Purpose Strategy Operating Principles Results Bank of America
  • 7. “ “ Bank of America Integrated Strategy: Purpose To help make financial lives better, through the power of every connection
  • 8. “ “ Bank of America Integrated Strategy To serve the core financial needs of people, companies and institutional investors, by connecting our capabilities across the company
  • 9. Bank of America Integrated Strategy: Operating Principles Customer-driven Great place to work Manage efficiency Deliver for shareholders Manage risk
  • 10.   Record capital and liquidity levels Bank of America Integrated Strategy: Results   Business performance showing solid client activity   Expense initiatives on track to achieve cost saving targets   Net charge-offs approaching record lows   Continued progress on legacy issues
  • 11. Retire or separate Receive pay & rewards HCM Overview Navigate career Manage performance Manage time Research job opportunities Apply and interview Receive & accept offer Onboard Learn & grow
  • 12. HCM Overview: HCM Commitments In everything we do, we’re committed to better, one connection at a time through:   Make interactions easier   Make expertise more accessible   Make relationships more human   Success that is shared
  • 13. Strategy HCM Best Practices Leadership Approach Governance Culture
  • 14.   Ensure alignment to business strategy   Think from the “outside-in” HCM Best Practices: Strategy   Provide signature experiences that matter   Outsource transactional support and simple service   Advocate for the use of technology – it’s effective and efficient
  • 15.   Be inclusive and involve stakeholders early   Establish guiding principles and trust your teammates HCM Best Practices: Leadership   Communicate “what you know, when you know it” – consistently   Manage risk, don’t avoid it   Use facts and data to guide decisions   Encourage and reward informed debate
  • 16.   Define and maintain a 3-5 year view of projects and corresponding outcomes HCM Best Practices: Approach   Choose the right project management methodology to match complexity   Use the employee experience as a change management tool   Maintain priorities – risk, quality, speed, cost   Focus on workforce readiness and adoption
  • 17.   Establish shared goals for all those involved in delivery and transformation HCM Best Practices: Governance   Cover people, process and technology change   Have a well defined escalation path   Control scope, resources and timeline   Hold senior leaders accountable for participating and being supportive publicly
  • 18. “ “ HCM Best Practices: Culture and Core Values Deliver together, Act responsibly, Realize the power of our people, Trust the team
  • 19. “ “ HCM Best Practices: Culture and the Human Approach Keep it simple, be transparent, show empathy, demonstrate caring
  • 20. Bank of America HCM To-Do List 10. Think from the employee point of view 9. Choose the right set of advisors and business partners 8. Attract and retain the right team members – optimize mobility and turnover 7. Manage the workforce spectrum – full-time, part-time and contingent 6. Embrace the use of technology / social media 5. Move from administration to consultation – on talent and performance 4. Keep stakeholder buy-in and momentum over an extended period of time 3. Meet complex regulatory requirements in geographies / jurisdictions 2. Ensure business leaders and employees are well prepared for change 1. Stay in touch with employee expectations
  • 21. Thank you