HRN Europe 2010 - Stephen Dando

Thomson ReutersStephen DandoEVP and Chief Human Resources Officer, Thomson Reuters

HRN Europe: Industry Leader PerspectivePan European HR Network, Vienna 2010

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Who We Are

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At $13.4 billion in 2008 pro forma revenue, Thomson Reuters is the largest provider of intelligent information to business and professional customers in the world

Largest provider in the electronic information space

An employee base that includes legal experts; financial experts; tax and accounting experts; healthcare experts; scientific experts; and seasoned journalists

For professionals, by professionals

Who We Are

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We Are GlobalWe employ more than 50,000 people and operate in over 96 countriesWe employ more than 50,000 people and operate in over 96 countries

Region %

Americas 53%

Asia 24%

Europe, Middle East and Africa

23%

• Provider of information, content and solutions to Financial and Media markets

• One world-leading brand

Coming Together of Two Powerful Companies

• Provider of information, content and solutions in Legal, Tax, Accounting, Healthcare, Science and Financial markets

• Multiple market-leading brands

Two HR functions; two healthy but different talent management legacies

Different legacies, histories, background

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DRAFT & CONFIDENTIAL 7

An Opportunity for Change

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The World of Work Is Changing

Relentless increase in

competition for best talent

Supply and Demand

Re-think of the design of work

Values &Expectations

Harnessing Web 2.0 for the

workforce

Changing Nature of Work

• Aging workforce

• Shortage of skills and experience

• Low birth rates

• Leadership pipelines

• Organizational diversity

• Career progression and compression

• Non-linear careers

• Technology influence

• Virtual workplaces

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Greater creativity in design of talent

solutions

Changing Demographics

• More women

• Greater demographic diversity

• Changing immigration trends, controls

• Changing family structures

Business Context - One company going through massive change and transformation (Fast Forward) after share price fall (< £1 in 2003)

Talent focus on retention with a ‘lite’ process, rolled out widely (>6,000 people), using a simple framework of Know / Grow / Flow. Decentralized talent development and movement

Business Context - Group of companies, changing portfolio, each needed flexibility according to their business need (e.g. growth, geographic spread)

Pre-acquisition Landscape

Business context for talent management

Talent focus on the most senior population (c .top 500) with very thorough framework, process, reviews and supporting technology with flexibility in SBUs to roll out more widely or introduce local initiatives

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Implications for Talent Come Straight from the Business Strategy

• Develop a truly global mindset to accelerate rate of growth in new geographical markets

• Discover and know the talent for new channels and markets

• Source and build leading edge technologists

• Hone capability of employees in customer impact roles to maximize new segment opportunities

• Build commercial acumen to ensure products and services are solve customer problems

• Demolish internal boundaries to ensure customer impact technologies are leveraged across businesses

• Craft the space to take advantage of new skills

• Critical to become a global business and help customers address new wealth, capital and trade channels in China, Brazil, India, Middle East and others

• Invest in brand, quality content, risk analytics, price discovery and transparency

• Growing opportunity to help companies address global complexity and governance, risk and compliance

• Align our costs to revenue and operate at scale, help customers manage information volume and speed challenges

• Partner with the right players in changed competitive environment with more ‘free’ information and disruptive competitors

• Meet professional customers’ need for simple and better interfaces, and help them connect to their professional communities

Impact on Thomson Reuters Implications for Talent Major Forces at Work

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Macroeconomic Shifts and Lower Growth

New Respect for Risk

Increasing Regulation and Intervention

Globalization

Information Volume and Velocity

Networked, WiredWorkforce





• Source and build leading edge technologists











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Globalization











Globalization






• Source and build leading-edge technologists





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Establishing Talent as a Signature

• Deliver high impact & deep strategic value

• Build intimate knowledge of our people

• Deliver meaningful projects that build capability

Our Talent Vision

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Focus on capabilities the create value

Target key segments

Simplify talent processes

Find the source of advantage

Finding the Source of Advantage

Strategic Alignment

Current talent investment aggressively reprioritized to reflect the equation

Some BAU activities stopped, others continued and some new ones began

KnowingTalent

Simplify Enhanced Business Value

• Address gaps between current and future capabilities

• Align actions to target segments

• Focus on core strategic segments

• Intimate knowledge of the wants, needs and expectations of critical talent

• Reduce the touch points

• Make talent processes simple

• Competitive differentiation

• Exceptional external reputation for talent

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Global

Critical local talent in global markets who are key to local business agenda

Domain Experts

Critical talent who can alter the landscape if we lose them in each domain

Technologists

Thought leaders & key influencers in technology space across businesses

Future Leaders

Future leaders are the high-potential business innovators who can succeed the executive

Executives

Top 250 executives and successors who are critical to delivering business strategy

Knowing Our Talent

A deep and intimate knowledge of our people - joint selection, joint accountability of their development and future career growth will retain our critical talent

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Direct linkage to the business strategy and future opportunities

Direct linkage to the CEO agenda

Differentiated Investment in Key Priorities

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• Recruiting and Onboarding

• Learning and Development

• Career Management

• Mobilizing and Deploying

• Talent/Succession Management

• Performance Management

• Diversity and Inclusion

Core

•Employee Value Proposition (“People brand”)

•Executive Assessments

•Segment-aligned Development

Game Changing

What It Will Look Like and Feel Like…

Here and now…

• Team in place and transition into new roles

• Deliver 2009 commitments and prioritize 2010

• Define segments and prioritize initiatives

• Shift to one LMS

New way forward…

• Governance and investment model in operation

• Build Talent Network to ensure alignment

• Talent technology platform defined and approved

• Strong PMO focus and measures in place

• A deep and intimate knowledge of the talent

Future …

• Talent model recognized externally as leading edge and world class

• Talent recognized beyond a process by business

• Fully integrated talent systems and processes

• Contribute to the success of HR as a whole

• Talent is owned by all…not just the talent function

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Pausing a Moment to Reflect …

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Pausing a Moment to Reflect …

Right choices: • Building strong mandate

• Tight alignment to business strategy

• Making big, bold decisions

• Phasing implementation

• Highly collaborative, passionate and committed team

Lessons learned along the way: • Learn by doing (get on with it)

• Inevitable tension between need to build consensus at each stage and speed of development

• Hard to maintain focus with competing priorities and the ‘day job’

• Can never do enough ‘road-testing’ with end users

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Questions