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Course Materials
MAXIMIZING THE HUMAN RESOURCE FUNCTION AT YOUR BANK: CRITICAL COMPONENTS
Terry Saber Saber Advisory Group, LLC
Dassel, Minnesota [email protected]
612-202-6313
August 7 & 8, 2017
Maximizing HR Leadership at Your Bank:Critical Components
Graduate School of Banking 2017
Saber Advisory Group, LLC © 2017 1
Maximizing the HR Function at Your Bank:Critical Components
Human Resource Management Elective Graduate School of Banking
2017
Saber Advisory Group, LLC © 2017
Course Objectives
• Understand the HR Leadership role
• Identify 12 basic responsibilities of HR
• Assess the “New World Order” HR Toolkit
• Know what to look for in:– Performance Management– Recruiting and Hiring– Training and Development– Total Rewards
• Checks and balances to hold HR accountable
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Maximizing HR Leadership at Your Bank:Critical Components
Graduate School of Banking 2017
Saber Advisory Group, LLC © 2017 2
Why are you in this Elective?
What’s important?
Establishing Priorities
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Agenda
• TBD . . . Class Priorities
• HR Structure: “Up to snuff?”
• 12 HR Functions
• HR Toolkit
• HR Inventory
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Maximizing HR Leadership at Your Bank:Critical Components
Graduate School of Banking 2017
Saber Advisory Group, LLC © 2017 3
HR Leadership
• “Up to snuff?”
• Do you have the role defined properly?
• Contributing to bottom‐line performance? How?
• Who’s leading the charge?
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HR Leadership: A Role Model?
. . . of coaching and development?
. . . of excellent “sales” skills?
. . . of open, transparent communication?
. . . of culture and values?
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Maximizing HR Leadership at Your Bank:Critical Components
Graduate School of Banking 2017
Saber Advisory Group, LLC © 2017 4
HR Leadership: A Role Model?
. . . of a staff support role that has the tools in place to allow managers to effectively coach and manage?
What shape is the toolbox in?
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12 Critical HR Functions
• All may or may not apply
• Importance / weighting may differ by bank . . .
• . . . by culture
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Maximizing HR Leadership at Your Bank:Critical Components
Graduate School of Banking 2017
Saber Advisory Group, LLC © 2017 5
12 Critical HR Functions
1. Recruiting/Talent Acquisition
2. Employee Engagement
3. Learning & Development
4. Organizational Development/Culture
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DEFINITION:
The practice of changing organizations for positive growth
Organizational Development
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Maximizing HR Leadership at Your Bank:Critical Components
Graduate School of Banking 2017
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12 Critical HR Functions
5. Total Rewards– Compensation– Benefits– Perks
6. Performance Management
7. Talent Management and Succession
8. HR Operations / Compliance / RM
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12 Critical HR Functions
9. Human Resource Information Systems (HRIS)/Data Analytics
10. Diversity / Inclusion/AA
11. Internal Communications
12. Retiree Relations
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Maximizing HR Leadership at Your Bank:Critical Components
Graduate School of Banking 2017
Saber Advisory Group, LLC © 2017 7
“New World Order” HR Toolkit
1. HR Leadership with a “seat at the table”
2. Competitive compensation structure(s) and plans: Foundational!
3. Updated meaningful job descriptions with “new world content”!
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“New World Order” HR Toolkit
4. Recruitment strategies that mirror a social media‐connected world
5. Bottom line measurement with quarterly reporting, at a minimum
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Maximizing HR Leadership at Your Bank:Critical Components
Graduate School of Banking 2017
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“New World Order” HR Toolkit
6. Market competitive total compensation that aligns with the bank’s peer performance
7. Talent Management• Accelerate the “A” team• Retain and motivate the “B” team• Coach up or coach out the “C” team
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“New World Order” HR Toolkit
8. Learning and Development
Know the difference!
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Maximizing HR Leadership at Your Bank:Critical Components
Graduate School of Banking 2017
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Foundational “Big 4”!
1. Recruiting/Talent Acquisition
2. Performance Management
3. Talent Management/Succession
4. Total Rewards – Comp and Benefits
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Recruiting/Talent Acquisition
Shared Responsibility
To find qualified candidates for the job that are “fits” for the bank
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Maximizing HR Leadership at Your Bank:Critical Components
Graduate School of Banking 2017
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Recruiting/Talent Acquisition
Shared Responsibility
To attract and select the most qualified and best fit for the job
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Recruiting/Talent Acquisition: 9 Basics
1. Updated Job Descriptions(s)
2. Performance Standards• Transactions per hour
• New accounts opened per month
• Loan portfolio size / number of clients
• Deposit portfolio size / number of relationships
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Maximizing HR Leadership at Your Bank:Critical Components
Graduate School of Banking 2017
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Recruiting/Talent Acquisition: 9 Basics
3. Talent Acquisition Pipeline
4. Job Posting Process / Policy
5. Standardized Recruiting / Sources
6. Employee Referral Process
7. Skilled Behavioral Interviewing
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Recruiting/Talent Acquisition: 9 Basics
8. Centralized Job Offer Process with Background Checks
9. Onboarding
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Maximizing HR Leadership at Your Bank:Critical Components
Graduate School of Banking 2017
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HR: Key Performance Criteria
• Time to hire
• Cost to hire
• Turnover within the first 180 days
• Turnover within the first 18 months
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Recruiting and Hiring
ONBOARDING:
Have a plan!
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Maximizing HR Leadership at Your Bank:Critical Components
Graduate School of Banking 2017
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Foundational “Big 4”!
1. Recruiting/Talent Acquisition
2. Performance Management3. Talent Management and Succession
4. Total Rewards – Comp and Benefits
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Performance Management Toolkit
• Performance Standards
• Current Job Descriptions
• Total Compensation
• Key Resources
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Maximizing HR Leadership at Your Bank:Critical Components
Graduate School of Banking 2017
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Performance Management Loop
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3. SALARY GRADE / RANGES
4. EMPLOYEEOBJECTIVES
6. SALARY REVIEW
5. PERFORMANCEREVIEW
1. JOBDESCRIPTION
2. JOBEVALUATION
KEYNon-Incumbent Specific
Incumbent Specific
Performance Evaluation
1. Formal system / timetable
2. Self‐appraisal
3. Objective criteria
4. Job description / goals
5. Closed‐door session
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Maximizing HR Leadership at Your Bank:Critical Components
Graduate School of Banking 2017
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Performance Management Loop
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3. SALARY GRADE / RANGES
4. EMPLOYEEOBJECTIVES
6. SALARY REVIEW
5. PERFORMANCEREVIEW
1. JOBDESCRIPTION
2. JOBEVALUATION
KEYNon-Incumbent Specific
Incumbent Specific
Foundational “Big 4”!
1. Recruiting/Talent Acquisition
2. Performance Management
3. Talent Management/Succession
4. Total Rewards – Comp and Benefits
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Maximizing HR Leadership at Your Bank:Critical Components
Graduate School of Banking 2017
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Learning and Development
Know the Difference!
• Training
• Employee Development
• Leadership Development
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Developing the Training Plan
ASSESSMENT PROCESS
• Linkage with annual performance review
• Short‐term training needs
• Skills and competencies
• Longer term career goals
KEY: Management / Supervisory Accountability
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Maximizing HR Leadership at Your Bank:Critical Components
Graduate School of Banking 2017
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Training Priorities and Budget
• 80 / 20 Rule: Highest Potential
• Development plans
• Product Training
• Sales Leadership / Sales Training
• Customer Service Training
• Technology Training
• Compliance Training
• Knowledge of the Organization, Values and Culture
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Development Priorities and Budget
• Tuition Reimbursement Policy
• Supervisory / Management Skills
• Leadership Skills
• Career Development
–Coaching–Mentoring
–Talent Assessment
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Maximizing HR Leadership at Your Bank:Critical Components
Graduate School of Banking 2017
Saber Advisory Group, LLC © 2017 18
Foundational “Big 4”!
1. Recruiting/Talent Acquisition
2. Performance Management
3. Talent Management and Succession
4. Total Rewards – Comp and Benefits
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Total Compensation: 7 Components
1. Base Salary
2. Incentive Compensation (variable)
3. Benefits (both hard / soft)
4. Perks
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Maximizing HR Leadership at Your Bank:Critical Components
Graduate School of Banking 2017
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Total Compensation: 7 Components
5. Executive (BOLI, deferred comp)
6. Equity Stake (real or phantom)
7. Non‐financial–Flex time–Virtual office
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Benefits: Key Part of Package
• Welfare Benefits vs. Retirement Benefits
• Annual Disclosure
• Salary / Benefits as % of Average Assets (UBPR)
• Average Personnel Expense per Employee
• Total Package: 35–40% of Base Salary– 25%: Hard costs– 10–15%: Soft costs
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Maximizing HR Leadership at Your Bank:Critical Components
Graduate School of Banking 2017
Saber Advisory Group, LLC © 2017 20
Human Resource Checks and Balances
• Turnover Rates
• Exit Interviews / Stay Interviews
• Employee Opinion / Engagement Surveys
• Performance Reviews
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Human Resource Checks and Balances
• Overall Compa‐Ratio
• Out‐of‐Range Exceptions
• Succession Readiness
• Talent Assessment
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Maximizing HR Leadership at Your Bank:Critical Components
Graduate School of Banking 2017
Saber Advisory Group, LLC © 2017 21
Human Resource Checks and Balances
• Staffing Practices and Policies
• Wellness Awareness
• Communication
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HR Resources
• Human Resource Management School
• Strategic HR Forum
• SHRM Certifications (PHR, SPHR)
• CEBS: Certified Employee Benefit Specialist
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Maximizing HR Leadership at Your Bank:Critical Components
Graduate School of Banking 2017
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Your Most Valuable Asset . . . Really?
YES!
People
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Terry SaberSaber Advisory Group, LLC
612.202.6313
Questions?
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