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To maximize return on investment in Human Resources, top performing organizations are integrating what have traditionally been separate HR initiatives into a cohesive human capital management ...

To maximize return on investment in Human Resources, top performing organizations are integrating what have traditionally been separate HR initiatives into a cohesive human capital management strategy. This approach enables HR to deliver relevant services that produce quantifiable results.

Findley Davies has leveraged the insights and expertise of thought leaders from its Compensation and Rewards Management, Communications and Change Management, and HR Innovation Practices to develop a distinctive blueprint for how to build a cohesive human capital strategy.

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Hcm bp2 Hcm bp2 Presentation Transcript

  • A Blueprint for Human Capital Management
  • First we need to do a “gut-check” as to where we are today. What is important and where do we need to improve?
  • The results of an HRx Insight diagnostic helps set the tone for maximizing HR’s effectiveness and enhancing financial performance.
  • The HRx circumplex report provides a unique 360 view of an HR leader’s assessment of HR’s performance versus importance.
  • Now we need to do a deeper dive. How do we compare to top performers?
    Where are the opportunities?
  • HR Costs as a % of Total HR Cost
    Overall HR Cost Per EE
    Top Performers
    Top Performers
    CLIENT
    CLIENT
    Average
    Average
    Benchmarking is critical for any organization concerned with cutting costs, increasing productivity, or generally achieving new heights of performance.
  • Strategic Planning
    23.9% (24%)
    Talent Management
    44.3% (57%)
    HR Administration
    27% (19%)
    Other
    4.9% (0%)
    HR Planning
    9.2% (8.5%)
    Selection and Staffing
    11.8% (18%)
    Health and Welfare Administration
    8.4% (5%)
    Organizational Development
    8.8% (8.5%)
    Performance Management
    17.2%( 19%)
    Benefit Administration
    5.6% (5%)
    Creating Value Proposition
    5.9% (7%)
    Employee Relations
    9.2% (17%)
    Compensation Administration
    1.3% (5%)
    Exit Management
    6.1% (3%)
    Information Management
    4.8% (5%)
    Compliance
    6.9% (1%)
    Top performing companies spend the majority of HR time delivering service in the Green Processes.
  • Key Success Factors
    Right Things
    Percent of activities using applications
    Number of applications being used
    HR Strategic Plan has technology
    Technology plan deployment
    Software Customization
    Right Way
    Self-Service usage
    Number of EE identifiers
    Describes use of HR tech
    How info is exchanged between applications
    Software utilization
    Inhibitors to Technology Deployment
    Complexity
    External Suppliers
    Not a priority
    High
    Moderately
    Deployed
    Fully Deployed
    Doing the right Things
    2
    1
    4
    5
    3
    Somewhat
    Deployed
    Limited
    Deployment
    High
    Low
    Doing Things Right
    Overall Rating
    It is important to understand how HR is leveraging technology. A good start is asking: are we doing the right things and are we doing them right?
    • Business Partner- time is spent “at the table” with other functional heads addressing the strategic and operational HR issues
    • Collaborator- time is spent working with line managers to implement strategic initiatives
    • Expert - time is spent providing insight and information to managers on human resource issues
    • Administrator - time is spent processing employee transactions and responding to employee requests for information
    Business Partner
    Right Things
    Proactive
    Collaborator
    Expert(HR Rating)
    Reactive
    Administrator
    Right Way
    It is crucial for HR to appreciate their position in the HR transformation continuum. It is also important to understand how customers rank HR.
  • Information Management
    Top Performers
    CLIENT
    For your primary software application, please rate the degree of customization/modification performed on this package
    For your primary software application, please rate the degree to which available functionality is utilized.
    What percent of the time do you use electronic signatures with automated workflow for distributing and approving information changes?
    What percentage of time do you utilize on-line verification of the accuracy and completeness of employee data capture?
    What percent of the time do you electronically send information to an employee based on their profile?
    What percent of the time do employees records have to be corrected due to errors?
    Minor
    Minor
    Most
    NA
    98%
    50%
    100%
    5%
    0%
    100%
    1.2%
    .51%
    Studies show that an organization adopting best practices can increase measures of performance by factors of two to five.
  • So, now that we know where we stand, how do we lay all of our cards on the table and get everyone fully
    engaged?
  • Compression Planning is an energizing process that launches a group's best thinking and makes things happen. Fast.
  • 13
    Business Impact
    HR Importance
    Prioritization Matrix
    Business Impact (value)
    Support of HR Strategy
    Business appetite for initiative
    Alignment with business priorities
    Global or multi-divisional
    Would CEO / CFO consider this important?
    Financial impact / benefit
    HR Importance (timing)
    Committed priority
    Availability of resources / budget (Corp HR, business operations, IT)
    Is project a pre-requisite for other initiatives?
    Operational pain / urgency / broken
    Foundational to enable evolution / other HR technology?
    Findley Davies uses a unique Prioritization Matrix to help our clients develop a practical approach to prioritizing their objectives.
  • 14
    Business Impact
    HR Importance
    Prioritization Matrix
    Business Impact (value)
    Support of HR Strategy
    Business appetite for initiative
    Alignment with business priorities
    Global or multi-divisional
    Would CEO / CFO consider this important?
    Financial impact / benefit
    HR Importance (timing)
    Committed priority
    Availability of resources / budget (Corp HR, business operations, IT)
    Is project a pre-requisite for other initiatives?
    Operational pain / urgency / broken
    Foundational to enable evolution / other HR technology?
  • Our plan has to be actionable! We need proven steps to do the following:
  • Findley Davies works with clients to help them benchmark compensation data, including geographic salary comparisons.
  • Our Impetro system is a proprietary online RFP tool that helps clients evaluate and select workforce technology solutions based on their needs.
  • Findley Davies consultants are certified to lead clients in using the Balanced Scorecard model for strategic planning.
  • Based on the idea “it is hard to improve what you can’t see,” our consultants help clients process map their HR methods and procedures.
  • Findley Davies works with client to make sure incentive planning provides a strong link between organization goals and strategies and compensation.
  • OK, we’re ready to develop a visual model that tells our story and defines our strategy and the expected outcomes.
  • Energy and passion for results are certain when a strategy has a compelling visual that raises team understanding and drives commitment.
  • Our creative approach to communications helps your organization deliver any type of message.
  • Do you have a blueprint for your human capital strategy?
    Learn more at: www.findleydavies.com