Balanced Scorecards, Competencies and Compensation

Balanced Scorecards, Competencies and Compensation Balanced Scorecards, Competencies and Compensation - Start

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November 3, 2011. Financial Measures. What are they?. Problems with them?. Knowledge workers. Strategy. CEO failures due to……….. Poor strategy?. Poor execution/implementation of strategy?. So, which one is it?. ID: 502256 Download Presentation

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Balanced Scorecards, Competencies and Compensation




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Presentations text content in Balanced Scorecards, Competencies and Compensation

Slide1

Balanced Scorecards, Competencies and Compensation

November 3, 2011

Slide2

Financial Measures

What are they?

Problems with them?

Knowledge workers

Slide3

Strategy

CEO failures due to……….

Poor strategy?

Poor execution/implementation of strategy?

So, which one is it?

Slide4

Balanced Scorecard

Overcomes

Limitations of financial measures

Need to account for knowledge workers

Critical need to execute strategy

Slide5

Balanced Scorecard

Overcomes

Limitations of financial measures

Need to account for knowledge workers

Critical need to execute strategy

Slide6

Balanced Scorecard

Starting point

Organization’s strategy

Translate into objectives and measures

Slide7

Balanced Scorecard – 4 perspectives

Financial

Customer

Internal business process

Learning and growth

Slide8

Balanced Scorecard – 4 perspectives

Financial

Traditional

component

Measures

Revenue growth

Cost reduction

Productivity improvement

Asset utilization

Slide9

Balanced 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

Slide10

Balanced 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?

Slide11

Balanced 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

Slide12

Balanced 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?

Slide13

Balanced 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?

Slide14

Example

Slide15

Slide16

Balanced Scorecard

Pro’s

Organizational alignment through shared vision

Short-term and long-term balance

Focuses the organization

Slide17

Balanced Scorecard

Con’s

Complex!!!

Communication is a

must

Slide18

Balanced scorecard

Chapters 4, 5, 6, 7, and 8

Slide19

Scorecards and Dashboards

Basic dashboard

Electronic dashboard

Slide20

Slide21

Slide22

KSA

Job RequirementsABCDE

Slide23

Slide24

Competencies

“Fit”

Slide25

Slide26

Slide27

New Day for KSA

Knowledge

practical or theoretical understanding of a subject

described in terms of mastery levels

Skills

Learned capacity

Ability

Natural capacity

Slide28

Competency

Combo of KSA that can be observed, measured, evaluatedIs a key factor in successful job performanceFocus is behavior

Competency

Slide29

Competency

KSAObservable behaviorJob performance

Competency

Slide30

Competency Models/Frameworks

Definition

More “occupation” than “job”

Management, technical, knowledge

Vary by “job” type

Professional positions

Clerical/administrative positions

Managerial positions

Slide31

Competency 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

Slide32

Competency 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

Slide33

Competency 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

Slide34

Competency 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

Slide35

Business

Strategy

Competency

Framework

Business

Results

Slide36

Professional Associations

Slide37

Risk and Insurance Management Society

Slide38

Slide39

Government

Slide40

Slide41

Education

Slide42

What’s missing?

Slide43

Private Sector

Slide44

Slide45

Competency Modeling

http://www-05.ibm.com/employment/hu/ibmhu/career.html

Slide46

But which competencies?

Review strategy

Identify competencies

Competency Model/framework

Review strategy

Slide47

How 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!!!!

Slide48

Now and later use……

http://www.job-interview-site.com/examples-competency-based-interview-questions-list-of-competencies-skills.html

Slide49


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