Heckelman & Unger - Business acumen for strategic heckelman & unger


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Business Acumen for the
Strategic HR Business Partner

Wendy Heckelman, Ph.D. and Sheryl Unger, MILR

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Heckelman & Unger - Business acumen for strategic heckelman & unger

  1. 1. Business Acumen for theStrategic HR Business Partner Wendy Heckelman, Ph.D. and Sheryl Unger, MILR WLH Consulting, Inc. 2703 Cypress Manor Suite 100 Fort Lauderdale, FL 33332 954-385-0770 www.wlhconsulting.com wendy@wlhconsulting.com
  2. 2. Session Overview HR Function – Expectations and Needs What is Business Acumen? Why is it important to the HR Function? How to develop your Business Acumen2
  3. 3. Key Demands on HR Attract, Develop, and Retain Talent Manage Align with Risk the Business HR Function Establish Understand and the Maintain Business Culture SHRM Foundation Leadership Roundtable What’s Next for HR November 20103
  4. 4. Why HR Business Acumen? HR needs to do a better job of: Provides an opportunity to: Understanding their clients world Help drive profitability Realizing the many influences affecting costs Help employees better understand their clients Proposing alternative solutions to business unit problems Helps leaders make better business decisions regarding Quantifying human capital resource allocation to meet challenges intended results Partnering with line leaders through Foster a more aligned business mergers, acquisitions, and other partnership organizational restructuring efforts Analyzing and tracking metrics that impact the business and improve decision making4
  5. 5. Talent Needs of the HR Function Strategic Thinking and Value Creation: – Know the business – Think strategically – Create tangible business value – Stay aligned with business strategy Business Acumen and Orientation: – Understand the business – Think about the overall success of the business – Apply functional expertise and provide solutions SHRM Foundation Leadership Roundtable What’s Next for HR November 20105
  6. 6. Business Acumen Defined Linking an insightful assessment of the external External business landscape with Pressures the keen awareness of how money can be made…and then executing the strategy to deliver the desired results.” Internal Commercial Ram Charan Strategy Bestselling co-author of Execution6
  7. 7. HR Professionals Need to Know Drivers Costs to of the Revenue Company How can you maximize human capital to impact the balance sheet?7
  8. 8. Business Acumen in Action Knowledge Application Results 1 2 3 3 Draw sound Take Execute conclusions appropriate effectively to from action steps drive results for information your organization8
  9. 9. Business Acumen in Action Understand your companys business model, structure, products and services, and competitive Knowledge advantage - HOW YOU MAKE MONEY: – Talking to people who are in the business – Asking questions 1 Keep informed: – Company Draw sound – Industry conclusions – Financial Reports – Listen to investor relations calls (if applicable) from – Participate in strategic planning sessions or any other "live information event" that will give you the latest company information – Competitive landscape Use meaningful data and analytics, i.e., other functions (finance, marketing, operations) that make the business case and discuss ROI9
  10. 10. Business Acumen in Action Understand how the business and HR goals link to the overall company priorities Application Spend time ensuring your goals link to the 1 business 2 Solicit from others’ perspectives on problems and issues to ensure that alternate points of Take view are factored into the search for solutions appropriate action steps Make data-driven decisions10
  11. 11. Business Acumen in Action Partner with business to execute human capital strategy plans Results Ensure stakeholders are aligned with efforts to maximize human capital 3 3 Calibrate plans to meet goals or adjust to changes in the environment Execute effectively to Establish metrics that demonstrate how HR is: drive results for – Managing corporate resources your organization – Improving bottom-line results – Moving beyond “reducing costs” Continuously engage stakeholders in the importance of maximizing human capital11
  12. 12. Differences between Average and Exceptional Average HR Partners Exceptional HR Partners Provide overall direction and Enhance direct reports’ support regarding strategic understanding of their effect on direction company results and profitability Mentor and coach others on Share goals and targets effectively integrating data into Directive style versus engaging action plans direct reports in an inquiry into the Leverage team members’ business drivers impacting sales and knowledge to support others and performance achieve results Encourage and ensure people share and build on each others’ business knowledge, experience, opinions, and ideas Actively liaise and align with others across levels, divisions, functions, and departments12
  13. 13. Business Acumen in Action Understand the business’ operating cycle Takes responsibility for learning about, and being alert to, Knowledge changes in the business Analyzes information to uncover trends and opportunities Uses data-driven business information to provide insights and recommendations to internal stakeholders / employees Identifies and develops HR solutions directly aligned with the business strategy Application1 3 Leverages the full range of HR knowledge, expertise, and resources to provide solutions that meet business requirements Aligns HR priorities with the business agenda Makes data-driven decisions Decisions demonstrate an understanding of the business Results Makes financially sound decisions Drives for measurable business outcomes13
  14. 14. Critical Metrics Cost-benefit analysis Efficiency Financial efficiency of HR Operations (cost-per-hire Resources used time-to-fill, training costs) by HR Benchmarks against data from other organizations Using HR dashboards / scorecards Effectiveness Measuring turnover, attitudes, bench strength Changes produced by HR programs Measuring the specific effects of HR programs Measuring the effect of HR programs on business Impact outcomes The business or strategic Supporting organizational change efforts value created by the HR activity / program Connecting human capital practices to organizational performance Assessing the feasibility of new business strategies14
  15. 15. Getting Started Assess your own capabilities related to business acumen Identify potential developmental activities to incorporate into your IDP to improve your business acumen Work with other HR colleagues to evaluate the functions’: – Business acumen; especially use of evidence-based metrics – Responsiveness to business needs – Direct support of business strategy15
  16. 16. Questions and Answers16
  17. 17. WLH Consulting, Inc. Overview 2703 Cypress Manor Suite 100 Fort Lauderdale, FL 33332 954-385-0770 www.wlhconsulting.com17
  18. 18. WLH Practice Focus Strategy Development and Execution Strategy Formation Senior Team Alignment Execution Planning and Implementation Mergers and Acquisitions Business Planning and Resource Allocation Business Performance Improvement Business Diagnostics Organizational Design and Effectiveness Process Excellence Cultural Transformation and Change Management Human Capital Strategy Leadership Development Competency Models and Tools Talent and Development Planning Engagement and Retention Learning Strategy and Curriculum Design Blended Learning Solutions18
  19. 19. WLH Business Acumen Offerings Our customized consulting practice can partner with you to: Customize the Business Acumen Program for HR employees Adapt the Business Acumen Program for other functional areas Provide consulting services and programs to improve: ‒ Managing Teams ‒ Jump Starting Teams ‒ Consulting Skills: Delivering Value to your Clients ‒ Business Planning and Resource Allocation ‒ Coaching for High Performance ‒ Rx for Retention ‒ Increasing Efficiency While Reducing Costs19
  20. 20. WLH Team Our team combines the diverse expertise of: Ph.D. industrial/organizational psychologists Experienced consultants with 20+ years experience partnering with clients to develop strategies, engage in process reengineering, and mutually execute business solutions Experts in developing comprehensive human capital strategies and tools Designers and developers of integrated, blended learning systems Skilled facilitators to help participants successfully manage change, identify issues, and resolve problems Trained project managers for large scale client initiatives Unique talents + Collaborative expertise = Breakthrough Results20
  21. 21. WLH Advantage We partner to implement streamlined, Collaborative customized, and efficient solutions that deliver results Our flexibility allows us to adjust to changing Highly Adaptive needs throughout each engagement or project life cycle Scientifically We rely on proven methods for data collection, statistical analysis, and sophisticated Rigorous organizational development models We take pride in "going the extra mile" to Client-Centered ensure that change initiated becomes change sustained21
  22. 22. Partial Client List22
  23. 23. Human Capital Strategy The International Division of a global pharmaceutical company asked WLH to help it create and deploy a human capital strategy aimed at attracting, developing, and retaining the best managers and employees in its various country markets: Defined and validated the key leadership capabilities to support its new mission and strategic objectives. Launched a talent planning process to target specific candidates for development. Turned capabilities into a 360°Developmental Planning and Feedback Process. Created innovative, intense discovery-based workshops to train managers to accelerate development of these capabilities. Created learning modules (print, CD-ROM. Web-based) to strengthen leadership capabilities at the team level and linked them to improved business performance. Implemented retention strategies to keep high-potential managers. Created metrics to gauge success of the talent planning initiative. Developed learning curriculum aligned to capability model. Created Development Planning Guides to support the ability of managers and colleagues to identify developmental needs and match meaningful learning approaches.23
  24. 24. Human Capital Strategy Projects Customized Learning Programs: Rx for Retention: designed a training program for managers to identify “at risk colleague departure” and strategies to retain talent High Performers Workshop: designed and delivered a one-day program to support a manager’s ability to: ‒ Share feedback on strengths and opportunities for development ‒ Support the creation of Individual Development Plans ‒ Coach direct reports to achieve career and development goals24
  25. 25. Leader-Led Learning WLH partnered with a major pharmaceutical company to transform leadership capabilities development into an easy, practical process that line leaders could use to produce immediate, visible improvement in business unit effectiveness. Provided a flexible, easily accessible range of activities designed to “push” the practice of leadership competencies down into business units so that they become a “way of life” and are the preferred approach for meeting business objectives. Created a Manager’s Toolkit to accelerate practice of the leadership capabilities: – Learning activities in each of the modules focus on specific leadership behaviors. – Modules are designed to specifically reinforce corporate strategy. – Assessment checklists created for line managers to quickly and accurately identify which of the leadership behaviors they wanted to concentrate on developing with their work teams in order to improve performance.25