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Be able to resign. It will improve your value and do wonders for your performance. Donald Rumsfeld

Human Capital Management in practise: getting started Mark Grimley Head of HR & OD Business & Performance 5 th July 2007. Be able to resign. It will improve your value and do wonders for your performance. Donald Rumsfeld. Capital idea?.

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Be able to resign. It will improve your value and do wonders for your performance. Donald Rumsfeld

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  1. Human Capital Management in practise: getting startedMark GrimleyHead of HR & OD Business & Performance5th July 2007

  2. Be able to resign. It will improve your value and do wonders for your performance. Donald Rumsfeld

  3. Capital idea? Wealth in the form of money or property, used or accumulated in a business by a person, partnership, or corporation.

  4. Material wealth used or available for use in the production of more wealth.

  5. The remaining assets of a business after all liabilities have been deducted; net worth. n Et + Bt He = ∑ (1+i)t-p t=p

  6. Human Capital Vs Basic performance principals Why are we doing this?

  7. HCM in the Bored Room

  8. A bit about Croydon • London’s largest borough • 10,500 employees • 400+ sites • 350,000 residents • 120 schools • £793 million expenditure budget

  9. The issues • Dominance of finance agenda • Metrics & data • Retrospective & backwards • Scepticism • HR credibility

  10. The levers • £282 million per year • 23% turnover • No defined workforce • Staff survey • Low output and productivity indices

  11. The biggest lever… …and hardest to move

  12. Stepping up to HCM Base-lining Forecasting Permutations Cause understanding Trend report Benchmarking Correlation Reactive Sophistication & Impact Adapted from Mercer HR Consulting

  13. The approach Systems, Process & Governance Workforce Readiness Business Strategies Business Inputs Business Results HCM Projections Benchmarking

  14. The strategic framework

  15. HR measurements • Turnover / Retention / Absence • Competencies & training • Employee productivity • Workforce profile / movements • Employee engagement / attitude • Employee compensation & reward • Recruitment activity • Customer experience

  16. Financial measurements • Revenue per FTE • Cost per FTE • Profit per FTE • HCM Return on investment • Remuneration vs. output • HCCI • Cost of improvement

  17. Outcomes: Strategy & Planning • HR Strategy • Management • Employees • HCM Architecture • Workforce intelligence • HR Capability • HR Customer-Agency • HR Procurement

  18. Tools to use • Balanced scorecard TM • PMS framework (EFQM) • Capital balance sheet • Diagrammatic schemas • Graphical representation • Joint financial statements • KEEP IT SIMPLE

  19. Next steps • Increase benchmarking possibilities • London Council’s HCM group • Networks and best practise • Re-assessment • Annual HCM statement • Improved management information • Delivery of strategy

  20. Beware when any idea is promoted primarily because it is "bold, exciting, innovative and new." There are many ideas that are "bold, exciting, innovative and new," but also foolish. Donald Rumsfeld

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