Presentation Transcript

1. TDRp: Implementation Critical Success Factors

   David Vance, Executive Director Peggy Parskey, Assistant Director Center for Talent Reporting May 9, 2013
2. Sponsors We want to thank the following sponsors for their support of the Center for Talent Reporting. FOUNDING ORGANIZATION SILVER SPONSORS BRONZE SPONSORS Center For Talent Reporting www.centerfortalentreporting.org
3. Today’s Discussion Three critical success factors Engaged sponsors and stakeholders Forecasting the expected impact on organizational goals Communicating results throughout the year Q&A Center For Talent Reporting www.centerfortalentreporting.org
4. Sponsor and Stakeholder Engagement Center For Talent Reporting www.centerfortalentreporting.org
5. Definitions: Sponsors and Stakeholders Sponsors: officers directly accountable for achieving the business goal Usually direct reports to the CEO at most one level further down Examples: SVP of Sales, President of Manufacturing Stakeholders: those with a direct interest in the outcome Head of the HR function (e.g. the CLO) Managers/staff in the HR function responsible for the initiative Managers/staff in the client function (like Sales) responsible for the initiative May include the SVP of HR Center For Talent Reporting www.centerfortalentreporting.org
6. Engage Sponsors and Stakeholders Early and Often Sponsor Up front to agree on role of HR initiative If role exists, then agree on broad outline (scope), cost and impact Identify stakeholders in sponsor organization Agree on roles and responsibilities Plan to update regularly Client Stakeholder Up front to discuss role of HR initiative If role exists, then discuss broad outlines (scope), cost and impact Plan to work closely with stakeholder managers and staff Agree on deadlines A good practice: document these agreements and share Center For Talent Reporting www.centerfortalentreporting.org
7. Forecasting the Impact on Organization Goals Center For Talent Reporting www.centerfortalentreporting.org
8. Impact on Organization Goals One of the most difficult aspects of TDRp One of the most important if HR is to be a true business partner delivering bottom line value to the organization Without it, how does anyone know… If the initiative is worth doing? What the target or plan should be for the initiative? If the initiative was or was not successful? Ideally, the impact will be the forecasted (or expected) isolated impact of the HR initiative on the company goal May be quantitative or qualitative Sometimes is a proxy or other measure of success Center For Talent Reporting www.centerfortalentreporting.org
9. Simple Outcome Statement for L&D Center For Talent Reporting www.centerfortalentreporting.org
10. Plan the Meeting Needs to be with the sponsor Only the sponsor has the authority to make the forecast May start with client stakeholder, but needs to be approved by sponsor Start with “Friendlies” who are supportive and who are likely to get it Set up appointment with sponsor to discuss expected results from HR initiative 30-60 minutes Staff may be present Do not let sponsor delegate the meeting to manager Center For Talent Reporting www.centerfortalentreporting.org
11. How to Open the Discussion: Possible Opening “Thank you for your time today. We wanted to take a few minutes to discuss this important initiative we are planning to help you achieve your goal of 10% higher sales. We want to ensure we meet your expectations. We also want to ensure we make the best possible use of company resources. Let’s talk about the impact we can reasonably expect from this initiative and see if we can agree on some measures of success that we can hold ourselves accountable to. The plan is to provide training to …… to be completed by ….with the expectation that after the training your people will be able to…….. How much impact do you think this will have on the goal to increase sales by 10%? Center For Talent Reporting www.centerfortalentreporting.org
12. Example for Sales Training The business goal: 10% increase in sales for next year L&D and the sponsor agree training could help achieve the 10% increase Specific programs, target audiences, completion dates are agreed What portion of the 10% increase might reasonably come from this agreed-upon program? Perhaps 20%. Then the expected isolated impact of sales training on the goal is 20% x 10% = 2% increase in sales due to training We are seeking the 20% contribution factor and the resulting 2% increase in sales due to training Center For Talent Reporting www.centerfortalentreporting.org
13. Note on Stating the Goal:Must be in Terms of the Delta Delta as a % Say the sales goal is to increase sales from $50M to $55M Delta is $5M or 10% State the goal as 10% increase in sales Not as achieving sales of $55M Delta as change in points Say the goal is to improve employee engagement score from 71 to 75 Delta is 4 points (4/71 =5.6%) State the goal as a 4 point increase in engagement Not as a 4% increase in engagement Center For Talent Reporting www.centerfortalentreporting.org
14. Reaching Agreement on the Forecast Reach agreement on the expected isolated impact Ask sponsor to list all drivers of higher sales Now ask sponsor to prioritize the drivers Then ask sponsor to list the expected % contribution of each. Work the percentages until they add up to 100% The percentage next to the sales training initiative is what we are looking for. This is the expected isolated impact of training on achieving the business goal. Note that the expected impact came from the stakeholder, not HR If impractical or impossible to get a % contribution, assign a High, Medium, or Low impact based on where the sales training fell in the prioritized list. Center For Talent Reporting www.centerfortalentreporting.org
15. Reaching Agreement: An ExampleStart with list of drivers Potential drivers to increase sales by 10% Hiring two new salespeople Growth in economy Opening new sales office New salesperson incentive system New advertising campaign Growth in market share due to new products Failing competitor New sales tracking system Consultative sales and product features training Center For Talent Reporting www.centerfortalentreporting.org
16. Reaching Agreement: An ExamplePrioritize and assign contribution % Notice that HR initiatives in total are expected to contribute 45% or almost half to the goal of increasing sales by 10% Prioritized list of drivers with percentage contribution to increase sales by 10% (These add to 100%) Prioritized list of drivers to increase sales by 10% Center For Talent Reporting www.centerfortalentreporting.org
17. If Sponsor Will Not Help Forecast Impact Then do it yourself Follow same steps Assign percentages Or make a direct forecast of initiative’s impact Share with Sponsor for feedback His or her opportunity to disagree and correct the forecast If sponsor will not provide feedback, then share your forecasted impact and assumptions with governing board, CEO and ask for their feedback. Center For Talent Reporting www.centerfortalentreporting.org
18. Results of all These Efforts May be Summarized Now, the expected impact may be captured in a summary table showing Priority Goal Planned initiatives or programs Target audience or focus area (if applicable) Number of participants (if applicable) Expected impact Sponsor Center For Talent Reporting www.centerfortalentreporting.org
19. Summary of Agreed-Upon Forecasted Impacts Center For Talent Reporting www.centerfortalentreporting.org
20. Use of Proxies and Multiple Measures of Impact May be times when agreement cannot be reached on an isolated expected impact Agree on a proxy. Should be correlated with impact and ideally a leading indicator Examples: Application rate for an L&D or Leadership Development initiative Number of performance coaching sessions for a performance management initiative Start with higher level proxies For L&D, choose L3 before choosing L2 You may show multiple impact measures Like H/M/L plus Application rate plus Number of Participants Center For Talent Reporting www.centerfortalentreporting.org
21. Simple Outcome Statement for L&D Center For Talent Reporting www.centerfortalentreporting.org
22. Communicating Results Through the Year Center For Talent Reporting www.centerfortalentreporting.org
23. Use Summary and Program Reports to Share YTD Results and Forecast Check in regularly with sponsor and stakeholders Ask: are they comfortable with planned forecast of impact? If yes, continue to use planned % contribution to calculate YTD results Example: Training will contribute 20% towards achieving goal of increasing sales 10% For June YTD results, if sales are up 4%, then training’s contribution is 20% x 4% = .8% higher sales due to training Show planned impact as forecast (2% higher sales due to training) If no, then adjust up or down. Example: Sponsor believes training is now likely to have smaller impact than planned. Say only 10% contribution instead of 20% So, for June YTD results, if sales are up 4%, then training would be responsible for 10% x 4% = .4% higher sales due to training And lower forecast accordingly to 1% Use actual results if available (like an ROI study on the pilot) Center For Talent Reporting www.centerfortalentreporting.org
24. L&D Summary ReportQuantitative Version Center For Talent Reporting www.centerfortalentreporting.org
25. L&D Summary ReportQualitative Report Center For Talent Reporting www.centerfortalentreporting.org
26. Program Report for L&D (Page 1) This section of the Program Report depicts the program goals agreed to with the sponsor Center For Talent Reporting www.centerfortalentreporting.org
27. Program Report for L&D (Page 2) Center For Talent Reporting www.centerfortalentreporting.org
28. Learn More about TDRp Learn more and get implementation guidance at www.CenterforTalentReporting.org Introduction to TDRp whitepaper Over 500 measures More than 60 sample statements and reports Guidance on implementation Next two-day workshop is June 6-7 Alexandria, VA Register online Contact Dave Vance for more information: DVance@CenterforTalentReporting.org Center For Talent Reporting www.centerfortalentreporting.org