Presentations text content in Balanced Scorecards, Competencies and Compensation
Slide1
Balanced Scorecards, Competencies and Compensation
November 3, 2011
Slide2Financial Measures
What are they?
Problems with them?
Knowledge workers
Slide3Strategy
CEO failures due to……….
Poor strategy?
Poor execution/implementation of strategy?
So, which one is it?
Slide4Balanced Scorecard
Overcomes
Limitations of financial measures
Need to account for knowledge workers
Critical need to execute strategy
Slide5Balanced Scorecard
Overcomes
Limitations of financial measures
Need to account for knowledge workers
Critical need to execute strategy
Slide6Balanced Scorecard
Starting point
Organization’s strategy
Translate into objectives and measures
Slide7Balanced Scorecard – 4 perspectives
Financial
Customer
Internal business process
Learning and growth
Slide8Balanced Scorecard – 4 perspectives
Financial
Traditional
component
Measures
Revenue growth
Cost reduction
Productivity improvement
Asset utilization
Slide9Balanced Scorecard – 4 perspectives
Customer
How do they see you
?
What do they want from us?
Measures
Market share
Customer acquisition
Customer retention
Customer satisfaction
Customer profitability
Slide10Balanced Scorecard – 4 perspectives
Internal
business processes
Core processes
those that directly impact how we meet customer demands
Netflix???
Measures
Depends on what customers demand
Low price?
Variety?
Slide11Balanced Scorecard – 4 perspectives
Learning
and
growth
Types of capital
Human capital
Information capital
Organizational capital
Measures
Employee satisfaction
Employee retention
Employee productivity
Competencies to deliver required results
Slide12Balanced Scorecard and Compensation
Points to consider
Purpose
Overall purpose
Specific
behaviours
(un)desired
Impact on culture?
Measures
Are data available?
Are the data accurate?
How many?
Slide13Balanced Scorecard and Compensation
Points to consider
Perspectives (related to measures)
All?
Equally weighted?
Leading or lagging?
TEXT: hours spent with customers by salespeople
Long/short-term performance?
Slide14Example
Slide15Slide16Balanced Scorecard
Pro’s
Organizational alignment through shared vision
Short-term and long-term balance
Focuses the organization
Slide17Balanced Scorecard
Con’s
Complex!!!
Communication is a
must
Slide18Balanced scorecard
Chapters 4, 5, 6, 7, and 8
Slide19Scorecards and Dashboards
Basic dashboard
Electronic dashboard
Slide20Slide21Slide22KSA
Job RequirementsABCDE
Slide23Slide24Competencies
“Fit”
Slide25Slide26Slide27New Day for KSA
Knowledge
practical or theoretical understanding of a subject
described in terms of mastery levels
Skills
Learned capacity
Ability
Natural capacity
Slide28Competency
Combo of KSA that can be observed, measured, evaluatedIs a key factor in successful job performanceFocus is behavior
Competency
Slide29Competency
KSAObservable behaviorJob performance
Competency
Slide30Competency Models/Frameworks
Definition
More “occupation” than “job”
Management, technical, knowledge
Vary by “job” type
Professional positions
Clerical/administrative positions
Managerial positions
Slide31Competency Models/Frameworks
Behaviors
Customer Focus
Builds/maintains customer satisfaction with products and services
Focuses on the customer's business results, rather than own
Seeks customer feedback and ensures needs have been fully met
Delivers products and services when and where the customer needs them
Explores options when unable to deliver a requested product or service, and pursues solutions until the customer is satisfied
Slide32Competency Models/Frameworks
Behaviors
Business Alignment
aligns the direction, products, services and performance of a business line with the rest of the organization
Integrates executive direction into every decision and consultation
Seeks to understand other programs in the department, including their services, deliverables, and measures
Advocates for and positively represents other programs and services when working with customers and stakeholders
Slide33Competency Models/Frameworks
Behaviors
Teamwork
Anticipating potential conflicts and addressing them directly and effectively
Treating others with courtesy, tact and respect
Working effectively with others, regardless of organizational level, background, gender, race or ethnicity
Working to resolve disagreements, attempting to persuade others and reach agreements
Biding by and supporting group decisions
Facilitating team interaction and maintaining focus on group goals
Slide34Competency Models/Frameworks
Compensation
Matrix
Combo of your “level” of competencies and position in pay range
“level” of competencies
Basket approach
“level” just one of many factors
Slide35Business
Strategy
Competency
Framework
Business
Results
Slide36Professional Associations
Slide37Risk and Insurance Management Society
Slide38Slide39Government
Slide40Slide41Education
Slide42What’s missing?
Slide43Private Sector
Slide44Slide45Competency Modeling
http://www-05.ibm.com/employment/hu/ibmhu/career.html
Slide46But which competencies?
Review strategy
Identify competencies
Competency Model/framework
Review strategy
Slide47How to identify competencies?
Think in terms of areas of knowledge and abilities
Analyze “job”
Watch stars perform
What areas of knowledge do you see the employees using?
What abilities are required?
Interview stars
superior performance is the norm!!!!
Slide48Now and later use……
http://www.job-interview-site.com/examples-competency-based-interview-questions-list-of-competencies-skills.html
Slide49
Balanced Scorecards, Competencies and Compensation
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