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A Sample Leadership Strategy

Sample Leadership Strategy
ABC Utility

Critical Competencies
    We’ve identified the following five competencies as most important for our executives, given our business strategy and our change environment.
  • Grows the business
  • Drives change
  • Builds commitment
  • Maximizes talent quality
  • Focuses on the customer
  • Sourcing Leaders

Sourcing Leaders

  • Make/buy mix. We will balance the ratio of internal hires/external hires in leadership at 70/30 to encourage new ideas and challenge our culture while providing opportunities for internal development.

  • Succession planning. Our succession-planning process will be the exclusive method for placing leaders into jobs. We will identify candidates and match them with opportunities based on this process, using the competencies as a primary screen.

  • Onboarding leaders. Retention and success of leaders in new roles (from inside or outside the company) will be increased through a process that provides guidance and coaching around both personal performance and relationship building.

Aligning Leaders

  • Performance management. We will set aggressive goals for all leaders in our performance-management process, ensuring that stretch goals are a key component and that a balanced measurement of business performance and individual behaviors occurs.

  • Engaging leaders. Executive engagement will be actively monitored through yearly surveys with human resources and the executive team, held jointly accountable for identifying and improving deficiencies.

  • Executive coaching. Providing select executives with coaching to further performance will be a core aspect of our strategy.

Developing Leaders

  • Assignment-based development. Job assignments will be the primary method for developing leaders, and a process to match individuals and jobs will flow from succession planning. Support of internal coaches will be provided to leaders in developmental assignments to help ensure success.

  • High-potential development. Our highest-potential employees will receive a disproportionate share of developmental resources. We will develop group activities for them, increase their exposure to the senior team and board, and review their performance on a semi-annual basis.

  • Executive development. We will provide group-based sessions for our leaders to develop capabilities in serving customers and communicating a clear vision and business acumen.

Rewarding Leaders

  • Base pay. We will set the 50th percentile as the goal for base pay, with high-potential employees identified through our succession process being paid at the 60th percentile.

  • Annual incentive. We will provide a 75th percentile target for annual incentives, strongly differentiating between median performers and high performers in distributing rewards.

  • Long-term incentives. We will use a combination of performance-vesting stock and regular stock options to provide incentives for consistent leader behavior. We will target the 75th percentile for these awards, strongly differentiating between median performers and high performers.

SOURCE: Reprinted with permission. From Leading the Way, by Robert Gandossy & Marc Effron, copyright 2004 by Hewitt Associates, published by John Wiley & Sons.

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How Bank of America Defines Success

Below is Bank of America’s leadership competencies. Under each of the five competencies is a list of behaviors associated with the competency.



    I. Grow the Business


    II. Lead People to Perform


    III. Drive Execution


    IV. Sustain Intensity and Optimism


    V. Live Our Values

GROW THE BUSINESS
    A. Demonstrates deep and broad business acumen

1. Demonstrates deep/broad financial management and functional skills


2. Demonstrates a business perspective that is much broader than one function or unit


3. Cuts to the heart of complex business and financial issues

    B. Creates competitive and innovative business plans

4. Creates competitive, innovative business plans that drive short- and long-term growth.


5. Challenges the status quo to grow the business


6. Focuses on growth opportunities and capital efficient investments


7. Reinvents the business

    C. Builds customer/client-driven environment

8. Ensures the customer/client perspective is at forefront of all business decisions and initiatives


9. Invests time in customer/client-facing activities to understand their needs


10. Instills customer/client focus in all associates

    D. Institutionalizes error-free quality processes

11. Champions and leverages six sigma tools to drive revenue, reduce costs and add value


12. Holds all associates accountable for continuously improving processes

    E. Excels at risk/reward trade-off

13. Thoroughly analyzes opportunities issues and then takes appropriate risks


14. Takes action to mitigate and minimize liabilities, while ensuring maximum returns

LEAD PEOPLE TO PERFORM
    F. Aligns enterprise capabilities

15. Transcends silos to achieve greater enterprise results


16. Drives collaboration among individuals and groups


17. Leverages teams to drive performance

    G. Recruits and grows great talent

18. Acts as a champion for diversity, creating an environment that values diverse backgrounds and perspectives


19. Is superb at selecting ‘‘A’’ players


20. Moves quickly to address mediocre/poor performers


21. Willingly takes risks on high potentials/high performers to stretch and develop them

    H. Inspires commitment and follower ship

22. Paints a compelling picture of the future and connects it to individual associates


23. Creates positive energy in the face of challenges


24. Inspires others to follow his/her lead

    I. Communicates crisply and candidly

25. Balances talking and listening to foster candid dialogue


26. Crisply gets his/her point across


27. Commands attention across multiple audiences

DRIVE EXECUTION
    J. Instills management focus and discipline

28. Implements practices and processes that drive accountability


29. Translates strategies into specific goals, tactics, action plans and deliverables


30. Keeps people focused

    K. Builds partnerships to achieve swift adoption

31. Builds broad-based business relationships across the organization


32. Skillfully influences peers and colleagues to promote and sell ideas


33. Brings to surface and resolves conflict with minimal noise

    L. Demonstrates sound judgment and acts with speed

34. Balances data, logic, and intuition in decision making


35. Deals effectively with concrete, tangible issues as well as abstract, conceptual matters


36. Makes timely decisions


37. Generates pragmatic, sensible and simple solutions to complex problems


38. Moves quickly to eliminate roadblocks

SUSTAIN INTENSITY AND OPTIMISM
    M. Constantly raises the bar

39. Sets ‘‘stretch’’ performance standards for self and others


40. Creates the optimal tension for peak performance


41. Demonstrates low tolerance for mediocrity


42. Fosters high levels of accountability through fair, but hard-hitting performance management processes

    N. Displays personal courage

43. Takes a stand on controversial and unpopular issues


44. Makes tough business and people decisions

    O. Continuously learns and adapts

45. Is insightful about personal mistakes and failures: learns from them and moves on


46. Is a voracious learner

LIVE OUR VALUES

47. Lives our company’s values


48. Puts the interest of the bank ahead of his/her own agenda

SOURCE: Adapted from Growing Your Company’s Leaders: How Great Organizations Use Succession Management to Sustain Competitive Advantage. Copyright © 2004 Robert M. Fulmer and Jay A. Conger. Published by AMACOM Books, a division of American Management Association, New York, NY. Used with permission. All rights reserved.

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Tycos Guide to Ethical Conduct

Thisdocument from Tyco covers appropriate and inappropriate actions related to:


  • Equal employment

  • Harassment

  • Substance abuse

  • Health and safety

  • Political involvement

  • Gifts

  • Fraud

  • Anti-trust issues

  • Confidential information and insider trading

  • The media

  • E-mail and the Internet

  • Recordkeeping

  • Telecommunications issues

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Workforce Management March 2004

Clean Slate
By Andy Meisler
Human resources was asleep at the switch when greed and fraud torpedoed Tyco. Laurie Siegel, the company’s post-scandal senior vice-president of human resources, is in charge of making up for lost trust. She has taken on the daunting task with eyes wide open.

2004 Optimas Awards
The 14th annual Optimas Awards honor excellence in workforce management. This year’s winners brought innovation, discipline and vision to their organizations during a particularly difficult economic period.

The winners are:
    Competitive Advantage: Cendant Mobility
    Financial Impact: Alegent Health
    Ethical Practice: Lockheed Martin Corp.
    Global Outlook: Mattel, Inc.
    Innovation: Baptist Health South Florida
    Managing Change: Union Pacific Corp.
    Partnership: The Global Workplace Collaboration
    Service: Wachovia Corp.
    Vision: Monical Pizza Corp.
    General Excellence: General Motors Corp.

More care, less cost
By Maryann  Hammers
Today, more than 30 medical conditions are covered in disease management programs. The approach is changing from focusing on a few costly chronic illnesses to considering treatment of the whole person, with all the challenges and conditions that might be part of her life. “Programs are morphing from ‘disease management’ to ‘population health,’ ” on consultant says. Some programs provide users with a “health-care coach” or a “care concierge,” who serves as a focal point for many kinds of health and illness-prevention services. And get ready for significant savings. One study argues that the ROI for a set of disease-management programs can be more than 4 to 1.

Between the Lines
A strategic fallacy
The question is always are you strategic or tactical? It’s the wrong question.
   Reactions From Readers
Wal-Mart’s exec VP for people disliked a story on the company..

In This Corner
Plain and simple: liars lose
Little white lies employers tell to soften the blow of firing someone can backfire in a costly way.

Legal Briefings
No protection for anti-gay postings. “At hone” accommodation is unreasonable.

Data Bank
Carrying the benefits burden.

Software titans play hardball
This could prove to be a pivotal month in the Oracle vs. Peoplesoft battle. Also: Getting white-collar clients ready for their trip to Club Fed. Women at the top improve the bottom line. The HRMS hot list.
  
 

Recruitment
Finding schools that yield good job applicant ROI
Some companies are narrowing their recruiting efforts to just those few campuses that provide the best job candidates. And once they have some good schools in their sites, companies try to develop closer ties in order to identify the most talented students as early as their sophomore year..
  

Benefits
In Enron’s wake, time for a review of nonqualified plans
Even though the plans get a bad rap in the press, it’s still a good idea to review these plans and remove “anomalies.”
  

Disability Management
Social Security’s new deal for disability
The agency’s troubled programs are undergoing a major overhaul. Employers could enjoy lower costs, and disabled workers could be more motivated to go back to work without risking the loss of medical coverage.
  

Recruiting & /Staffing
Internal mobility systems work for all
Companies are giving their internal-mobility programs a boost in an effort to retain and groom top talent. As the economy starts to improve, managers are worried that a stronger job market could prompt employees to jump ship.
  

Recruitment
The hunt for candidates with security clearances
Demand for candidates who have Defense Department security clearances outstrips supply. Even with employee referrals, businesses can’t always fill critical jobs.
  

 
February  2004

January  2003
December  2003
If you’re not currently receiving Workforce Management magazine, click here to request a FREE trial issue today!

 

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Success Factors for an Internal Mobility Initiative

The following are the success factors for an internal mobility initiative.
Purpose Clarity

  • Clearly articulate the purpose of your internal mobility program prior to its design and implementation, focusing especially on the value that can be derived from increased employee satisfaction and higher retention rates.

  • Calculate the potential financial impact of your program. For example, estimate the bottom-line effect of a reduction in turnover of one or two percent.

Policy Guidelines

  • Put a formal policy in place that covers the internal mobility business rules, including conditions for internal posting (is there a requirement to post all jobs internally?), the manager’s role, and the approval process.

  • Communicate the policy and process clearly and frequently, especially with senior managers.

  • Identify top performers as candidates for internal mobility; do not provide opportunities to average or under-performers.
Process Design

  • Have a communications plan in place to promote to employees the process of accessing opportunities.

  • Use an Intranet site to post opportunities and receive applications from employees.

  • Look at your rate of internal fills and modify the way you post jobs in such a way that you will increase or decrease the rate–whichever is your goal. Post positions internally and externally simultaneously if your goal is to draw from the widest candidate pool, or delay posting positions externally to encourage internal mobility initiatives.

Platform Capability

  • Use the automation of staffing-management technology to streamline the processes of informing employees about opportunities and managing employee responses.

  • Create a skills inventory database from employee profiles.

  • Link internal skills and performance to training and employee development. This will facilitate “just-in-time” workforce allocation.

Performance Measures

  • Metrics used to measure whether the internal mobility initiative has met its objectives must also be aligned with the overall goals of the company.

  • Define how you will measure the performance of your internal mobility program; see example below.

Purpose Metrics
Improve retention Turnover rate
Cost of turnover
Impact on profit margin
Employee satisfaction Employee satisfaction survey
Retention rate over the past year
Lower staffing costs Cost per hire
Sourcing cost per hire
Fill positions faster Time to hire
Time to contribution

SOURCE: Copyright 2003 iLogos Research, a division of Recruitsoft Inc. Reprinted with permission.

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Labor Issues Could Hinge on Topsy-Turvy Senate Race

The outcome of labor issues over the next six years could hinge on an unusual primary election next month in Pennsylvania.


Sen. Arlen Specter, a Republican from Pennsylvania, is a reliable Republican vote on most issues, and Republicans such as Majority Leader Bill Frist, Mississippi Sen. Trent Lott and former Sen. Bob Dole have written that Specter is “one of the best senators in promoting Republican values and policies” according to the Pittsburgh Post-Gazette.


Democrats on Capitol Hill who are interested in workforce issues tell Workforce Management that they’re pulling for Specter in a primary challenge next month, despite the conservative accolades from Frist and Lott. That’s because when it comes to critical labor and employment votes, Specter is a moderate “swing vote” who often votes in support of union positions and is hoping to win a fifth term in the U.S. Senate.


Few Republican senators are as popular with labor unions as Specter is, and few Republicans raise as much money from unions. Rep. Pat Toomey, Specter’s challenger, is getting fundraising and other support from well-known Republicans throughout America–former attorney general Ed Meese, former federal court judge Robert Bork and publisher Steve Forbes–in an attempt to defeat Specter, according to the Associated Press.

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California Hospital Trying to Catch Diseases Early

Dameron Hospital in Stockton, California, is working with several large employers to try to reduce absenteeism, lower health costs and increase productivity.


According to the Stockton Record, Dameron is collecting employee health information from companies, allowing the companies to analyze what risks exist among their workforces that ultimately could affect their corporate finances. Employees are asked to fill out a confidential profile of their health, and are screened for blood pressure, cholesterol, glucose and body fat, according to the Record.


Employers can then go online and see the health risks–such as high body-fat counts–that are prevalent on their staff. The online form lists the conditions that will put the companies most at risk financially if the warning signs eventually result in diseases. Dameron then helps the companies address the problems, such as providing a cardiologist to talk to employees about heart-disease prevention.


Participating companies include the Cost Plus retail chain as well as International Paper.

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PeopleSoft Tying Pay to Performance

PeopleSoft will link 50 percent of its top executives’ stock pay next year to performance, according to TheStreet.com. It will also replace many stock options with restricted stock in its pay packages.


The large vendor of workforce management software had been under pressure to change its pay practices from the California Public Employees’ Retirement System, among other stockholders. The institutional investor advisory firm of Glass, Lewis & Co. had given PeopleSoft a “D” grade for its pay practices.


According to TheStreet.com, PeopleSoft also will not give execs a raise this year. Most of the pay of top management such as CEO Craig Conway will come in the form of special stock grants and other pay beyond base pay.