Effective people-and-productivity-management

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  • 1. Effective people andproductivity management Peter Scott Peter Scott Consulting
  • 2. Effective people and productivity management• Measuring the financial value of human capital• Making best use of your people to increase profitability• Partners and profitability
  • 3. Measuring the financialvalue of human capital
  • 4. Is your business leaking money like a sieve?
  • 5. Leaking like a sieve?because you do not have theright…..
  • 6. ….leadership and influencingskills to get the best out of your people?
  • 7. Is this you?
  • 8. ….people environment to makeyour business a real success?
  • 9. Are we all going in the same direction?
  • 10. ….mechanisms to prevent the attrition of high quality performers?
  • 11. This will happen to your talent unless… TALENT €
  • 12. ….systems to managerelationship conflict?
  • 13. “Heavyweight gorilla” “You can’t manage me. I’m a big biller!”
  • 14. ….systems to manage thepeople risks in your business?
  • 15. F Asset ina n Re cia pu l ta tio Eco n na l pol omic, itic fisc al, al t Operational n pe titioCom iness s Managemen /bu Law Firm Risks Pe op le IT Regulat ory
  • 16. Examples of People Risks • Advice/client care/client matters • Client relationships • Loss of teams/partners • Real cost of staff turnover/recruitment • Regulatory regimes – Equal opportunities – Age and Sex discrimination & harassment – Disability – Racial equality – Dismissals – Maternity – Working time regulations – Pensions Management
  • 17. ….culture to support high performance levels?
  • 18. Building a performance culture Values Skills & Behaviours Performance Metrics – Qual/Quant Performance Review Closing the Performance Gap Learning & Development Strategy
  • 19. What is the real cost of replacing people?
  • 20. The real cost of replacing people• Disruption• Recruitment fees• Training of new recruits• Effect on morale of people leaving• Loss of relationships / clients
  • 21. How to retain and get the best out of your people?Help them maximise their full potential –This requires investment in your people
  • 22. Investment in your people?For example Who has a ‘New Partner Programme’ designed- to bring people through to partnership?- and which continues throughout partnership?
  • 23. Investment in your people requires?- Leadership and vision- Values- Training- Mentoring- Coaching- Empowering- Supporting
  • 24. Are you investing sufficient in your people to realise their financial value to your business?
  • 25. Building profitability through people management• Stop leaking money like a sieve!• Building people performance• Make best use of your people resource
  • 26. To do this you will need a strategy“Strategy is a realistic plan or course ofaction to gain competitive advantage whichhas clear and achievable objectives anduses available resources”
  • 27. Your greatest resource? Your people
  • 28. Building people performance Values Skills & Behaviours Performance Metrics – Qual/Quant Performance Review Closing the Performance Gap Learning & Development Strategy
  • 29. What does it take to succeed at your firm?• What do you value?• Do you invest in what you value?• Do you reward what you value?
  • 30. An integrated strategy to best use your people resources leverage delegation
  • 31. Delegation is key to profitability• Be a better boss by doing less work!• Match the level of work to the appropriate level of expertise / cost• Sell at the right price! = improved margin
  • 32. Leverage - you need to be aiming for this Equity partners Other fee earners
  • 33. Not this Equity partnersOther fee earners
  • 34. Leverage will differ from firm to firmWill depend on:• A firm’s work type / client type mix• How a firm ‘adds value’ to its clients
  • 35. You will add value if…• You provide clients with what they want – and more• At prices they perceive to be value for money; and• You do this better than the competition
  • 36. High Value – Added Services High value- added services – strategic impact on client – generally wisdom/experience driven • Focus on specific client types/work types • Seek leadership in a few, cohesive segments • Nurture wisdom/experience within the firm
  • 37. Low Value – Added Services Low value –added firms will compete on processes and price – technology driven services with minimum professional input • Value enhanced by –Driving down cost – ensure lowest cost –Investing in standardising processes –Facilitating implementation of solutions
  • 38. Low Value – Added Services• To be successful firms need to –constantly squeeze out more value for same cost –Ensure financial strength to stay the course –Avoid creating the perception of reduced “quality”
  • 39. But greater leverage requires more risk management• Supervision• Training• Case management systems• ‘Knowledge’ on part of management
  • 40. And leverage and delegation involve teamworkingWhy are teams important?TogetherEachAchievesMore
  • 41. Teams provide…SupportAbility to delegateContinuity of service deliverySense of purposeAccountability / peer pressureEsprit de corps
  • 42. Are all your people ‘team players’?
  • 43. How not to be a team player?‘we have no room for those who put their personal agenda ahead of the interests of the clients or the office’David Maister’s ‘Predictive package’
  • 44. “Do own thing”“That’s a great idea… …for the rest of you”
  • 45. But people resources are scarce• Cannot be all things to all men• Need to build focus into your business• Focus on - work types - client typesin order to gain competitive advantage
  • 46. Balancing your profit and your partner numbers
  • 47. How many equity partners should you have to maximise profit?Every firm is different – but factors to beconsidered may include:• Your work type / client type mix• How a firm best adds value• Ability to supervise and manage• Culture of firm / financial ambitions
  • 48. Your partners?• Are you getting the best out of your partners?• Who does NOT have an underperforming partner?
  • 49. How much is partnerunderperformance costing you?• Direct financial loss?• Loss of good partners and staff?• Loss of morale?• Loss of relationships / clients?
  • 50. What are you now going to do to stopyour firm leaking money like a sieve?