Click here to load reader
View
814
Download
3
Embed Size (px)
DESCRIPTION
The issues with insufficient Human Capital data and analytics and the ways of overcoming the problem
Citation preview
Human Capital Metrics Stephanie Pittman, Director Global HR Services
Boston Scientific Corporation March 2012
Boston Scientific Confidential -- For Internal Use Only. Do Not Copy, Display or Distribute Externally
Agenda
2
Boston Scientific Company Overview
Problem Statement
Human Capital Metrics to gain competitive
advantage
Global Roll out of Human Capital Metrics – 10
Keys to Success
Wrap Up/Q&A
Boston Scientific Confidential -- For Internal Use Only. Do Not Copy, Display or Distribute Externally
Boston Scientific’s mission is to improve the
quality of patient care and the productivity of
health care delivery through the development
and advocacy of less-invasive medical devices
and procedures.
MISSION STATEMENT
This is accomplished through the continuing
refinement of existing products and
procedures and the investigation and
development of new technologies that can
reduce risk, trauma, cost, procedure time and
the need for aftercare.
Boston Scientific Confidential -- For Internal Use Only. Do Not Copy, Display or Distribute Externally
BOSTON SCIENTIFIC CORPORATION PROFILE
GENERAL FACTS:
• Founded in 1979 with 38 employees and
$2 million in sales
• Now one of the world’s largest medical
device companies
• Portfolio of more than 13,000 products
• Added Cardiac Rhythm Management
through acquisition of Guidant Corporation
in 2006
• Corporate HQ: Natick, MA
• Regional HQs: Paris, Tokyo
• Website: www.bostonscientific.com
PRODUCT INNOVATION:
• More than 15,000 Patents issued
worldwide
• $1.0 Billion invested in R&D (’09)
FINANCIALS:
• $8.2 Billion Revenue (’09)
• $1.2 Billion Net Income1 (’09)
• 15% CAGR2 (’03-’09)
• NYSE: BSX
DEMOGRAPHICS:
• 25,000 Employees
• Sales forces in more than 40 countries
• 17 manufacturing facilities worldwide
1. Excluding acquisition, litigation,
divestiture, restructuring and
other charges
2. Compound Annual Growth Rate
BOSTON SCIENTIFIC IS A GLOBAL COMPANY FOCUSED ON INNOVATIVE MEDICAL DEVICES AND PROCEDURES
Boston Scientific Confidential -- For Internal Use Only. Do Not Copy, Display or Distribute Externally
OUR BUSINESS HAS 4 FOCUS AREAS
5
NUEUROMODULATION
UROLOGY AND WOMEN’S HEALTH
ENDOSCOPY
CARDIOLOGY, RHYTHM AND VASCULAR
Boston Scientific Confidential -- For Internal Use Only. Do Not Copy, Display or Distribute Externally
BOSTON SCIENTIFIC IS ADVANCING PATIENT CARE ACROSS A BROAD RANGE OF MEDICAL SPECIALTIES
INTERVENTIONAL
RADIOLOGY
PERIPHERAL VASCULAR
PAIN MANAGEMENT
ELECTROPHYSIOLOGY
WOMEN’S HEALTH
NEUROVASCULAR
UROLOGY
CARDIAC RHYTHM
MANAGEMENT
ONCOLOGY
INTERVENTIONAL
CARDIOLOGY
INTERVENTIONAL
RADIOLOGY
GASTROENTEROLOGY
INTERVENTIONAL
BRONCHOSCOPY
Boston Scientific Confidential -- For Internal Use Only. Do Not Copy, Display or Distribute Externally
SAMPLING OF BOSTON SCIENTIFIC’S PRODUCT PORTFOLIO
THREE DECADES OF INNOVATION HAVE LED TO A BROAD AND DEEP PORTFOLIO OF MORE THAN 13,000 PRODUCTS
STENTS EMBOLIC PROTECTION BALLOONS CATHETERS/GUIDEWIRES ULTRASOUND IMAGING
LITHOTRIPSY SYSTEMS STONE RETRIEVAL PELVIC FLOOR REPAIR EMBOLICS BIOPSY SYSTEMS
PACEMAKERS/ICDs/CRTs DETACHABLE COILS ABLATION PERIPHERAL DILATATION NEUROSTIMULATION
Boston Scientific Confidential -- For Internal Use Only. Do Not Copy, Display or Distribute Externally
Agenda
8
Boston Scientific Company Overview
Business Problem Statement
Human Capital Metrics to gain competitive
advantage
Global Roll out of Human Capital Metrics – 10
Keys to Success
Wrap Up/Q&A
Boston Scientific Confidential -- For Internal Use Only. Do Not Copy, Display or Distribute Externally
The Business Context - A Changing Global Economy
9
Economic Landscape
• Multi Speed Recovery
• Currency Wars
• Emerging Customers
• Changing Customer attitudes in Developed World
• Higher Inflation
• Information Technology
Organizational Challenges
• Adjusting to growth in developing markets
• Coping with inflation and resource constraints
• War for Talent
• Focus on Cost
• Global and Diverse Workforce
• Multi Technology
Human Capital Challenges
• Focus on Management adding value
• Defining what behaviours, systems, processes create greatest ROI
• Establishing measures
• Linking to strategy
Boston Scientific Confidential -- For Internal Use Only. Do Not Copy, Display or Distribute Externally 10
Business Problem Statement
We have insufficient Human Capital data and analytics to drive data based business decisions across a global organization potentially resulting in:
• Increased costs from turnover
• Increased costs due to lower productivity
• Costs associated with interventions that may not have return on investment and may not result in desired business outcomes
• Loss of revenue
The root causes of our lack of sufficient data are:
• Lack of integrated data model and data quality governance program
• Inability to access data and analytics in efficient and effective manner
• Lack of business focus and competency in HR analytics
Boston Scientific Confidential -- For Internal Use Only. Do Not Copy, Display or Distribute Externally 11
Quick Audience Poll
How many of you/your organizations identified the
same/similar problem statement?
Where is the business imperative coming from?
Is HR positioned to take on this challenge?
Is the business willing to invest money, effort and time?
Is everyone aligned on critical metrics and data?
Boston Scientific Confidential -- For Internal Use Only. Do Not Copy, Display or Distribute Externally
Agenda
12
Boston Scientific Company Overview
Problem Statement
Human Capital Metrics to gain competitive
advantage
Global Roll out of Human Capital Metrics – 10
Keys to Success
Wrap Up/Q&A
Boston Scientific Confidential -- For Internal Use Only. Do Not Copy, Display or Distribute Externally
What is Human Capital Analytics?
• HR Metrics are measures of performance
• HR Analytics examines the effect of HR
Metrics on performance
• HR Analytics delivers insights from
quantitative metric data to shape decisions
and outcomes for organizations looking to
maximize the value of every investment.
• HR Analytics can help direct investments
toward the people and programs most
essential to driving high performance and
improving business results.
• Descriptive Analytics focus on the Past
and the Present
• Predictive Analytics focus on the Future
Boston Scientific Confidential -- For Internal Use Only. Do Not Copy, Display or Distribute Externally
Who cares about Human Capital Analytics?
HR Specialists
Do I have efficient processes that create
value for the organization?
Am I making the right investments in people and HR processes to support the strategic
goals HR Director
Senior Leadership
Are the building blocks in place to support the
strategy and ultimately deliver shareholder value?
Line Managers
Do I have access to the right data to enable me to make human capital
decision that will impact the business?
Internal Stakeholders have different roles and interests in Human Capital
Analytics and will require different conversations
Boston Scientific Confidential -- For Internal Use Only. Do Not Copy, Display or Distribute Externally
Different organizations are at varying states of Analytical Maturity
We are
currently here!
We need
to be here
Boston Scientific Confidential -- For Internal Use Only. Do Not Copy, Display or Distribute Externally 16
“Meaningful” Analytics
Accurate, harmonized data and human capital metrics
Data availability
Data integrity
Standard definitions
Harmonized views of the business
Global v. Local
Access to data and metrics
Standard reports & metrics
Automation
Self service
On demand
Ad hoc
Use of Analytics
Trend analysis
Root cause analysis
Action plans
Continuous improvement
Decision making
PS DQM
Core HCM
EE Data Mgmt Global HR
Dashboard
Core HCM
Local metrics &
data
Training for HRBPs &
COEs
Skill & competency
improvement
VIPs & Targets
There is significant work to do across the spectrum &
it is a multi-year journey
Boston Scientific Confidential -- For Internal Use Only. Do Not Copy, Display or Distribute Externally
Effective HR Analytics…..
• Sets out quantitative and qualitative
information
• Analyzes benchmarking data, ideally
established targets
• Identifies key performance drivers and
demonstrates how HR programs are adding
value
• Reviews how well HR Strategy is
contributing to business performance
• Set out ROIs on investments in
development programs
• Draws conclusions on implications for HR
Strategy and practice
17
Boston Scientific Confidential -- For Internal Use Only. Do Not Copy, Display or Distribute Externally 18
•What does the data tell me?
•How am I performing against competitors?
•What do I need to improve?
•What are the issues I need to watch?
•Are there any major challenges ahead?
•What investments in my human capital will
generate the greatest return?
In Simpler Terms…
Boston Scientific Confidential -- For Internal Use Only. Do Not Copy, Display or Distribute Externally 19
HR Metrics v. Human Capital Metrics
HR metrics
measure
efficiency
Human
capital
metrics
measure
effectiveness
Boston Scientific Confidential -- For Internal Use Only. Do Not Copy, Display or Distribute Externally
Agenda
20
Boston Scientific Company Overview
Problem Statement
Human Capital Metrics to gain competitive
advantage
Global Roll out of Human Capital Metrics –
10 Keys to Success
Wrap Up/Q&A
Boston Scientific Confidential -- For Internal Use Only. Do Not Copy, Display or Distribute Externally 21
1. Have a well-defined problem statement
• What problem do you need to solve?
• What are the expected business benefits?
2. Establish buy-in early and often
• Engage Senior Leadership Teams
• Engage global stakeholders in requirements gathering
• Establish a Steering Committee
• Provide regular updates
• Establish strong partnerships with IS and Finance
3. Ensure integrity of data
• Conduct data quality assessment
• Conduct data modeling exercise
• Implement employee master data management program
• Provide one version of the truth
4. Leverage technology
• Utilize self service models
• Automate as much as possible
• Customize dashboards for different audiences
5. Tie Human Capital metrics and reporting to business results and outcomes
• Develop scorecard with clear linkages and report monthly
• Establish performance targets
• Link to performance objectives
Global Rollout – 10 Keys to Success
Boston Scientific Confidential -- For Internal Use Only. Do Not Copy, Display or Distribute Externally 22
6. Build Human Capital Analytics into the DNA of your organization
• Educate HR and business leaders to access and utilize data effectively
• Include analytics competency and skills into job profiles, competency models & performance evaluations
• Incorporate HCM and analytics in business reviews, strategic planning, and other forums
• Conduct robust change management exercises
7. Plan in phases to avoid stalling progress; let it evolve
• Determine manageable phasing based on availability of data & metrics, scope complexity and change management required
• Implement in phases to show progress, gain support, and evolve competency in the organization
8. Staff HR Analytics function appropriately
• Embed within HR function
• Support organization centrally
• Invest in appropriate # and level of resources
• Focus on analytical skills, consulting skills
9. Don’t measure everything simply because you can; align on key measures
• Identify less than 10 key global measures – most impactful and predictive
10. Establish global standards but allow for local customization
• Align on key global measures; enable additional measures to be tracked locally
Global Rollout – 10 Keys to Success
Boston Scientific Confidential -- For Internal Use Only. Do Not Copy, Display or Distribute Externally
Wrap Up/Q&A
23
Stephanie Pittman
Director, Global HR Services
Boston Scientific Corporation
One Boston Scientific Place
Natick, MA 01760
Office: 508.650.8716
www.bostonscientific.com