human capital management best practices
TRANSCRIPT
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Human Capital Management (HCM) Dan Deets SVP, HR Services Executive
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Bank of America
For more than 200 years… Bank of America has been connecting people, companies and institutional investors
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Bank of America
People 49MM consumer and small business relationships
5,151 banking centers
16,259 automated teller machines
Leading provider of mobile banking services with 14MM active users
No. 1 in online banking1; 30MM active accounts
1 Source: comScore, Q4-13 US Online Bank Benchmarker.
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Bank of America
Companies One of the largest U.S. Commercial Banks and a Top 3
global player within Corporate and Investment Banking
Relationships with 83% of the 2013 Global Fortune 500 and 98% of the 2013 U.S. Fortune 1,000
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Bank of America
Institutional Investors Unparalleled coverage with nearly 700 analysts covering
3,400+ companies, 1,000+ corporate bond issuers across 60 countries and 25 industries
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Bank of America
Results Operating Principles
Strategy Purpose
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Bank of America
Integrated Strategy: Purpose
To help make financial lives better, through the power of every connection “
“
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Bank of America
Integrated Strategy
To serve the core financial needs of people, companies and institutional investors, by connecting our capabilities across the company
“ “
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Bank of America
Integrated Strategy: Operating Principles
Customer-driven Great place to work Manage risk
Manage efficiency Deliver for shareholders
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Bank of America
Integrated Strategy: Results
Record capital and liquidity levels Business performance showing solid
client activity Expense initiatives on track to achieve
cost saving targets Net charge-offs approaching record lows Continued progress on legacy issues
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HCM Overview
Research job opportunities
Apply and interview
Navigate career
Manage performance
Receive & accept offer
Onboard
Learn & grow Manage time
Receive pay & rewards
Retire or separate
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HCM Overview:
HCM Commitments
In everything we do, we’re committed to better, one connection at a time through: Make interactions easier Make expertise more accessible Make relationships more human Success that is shared
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HCM Best Practices
Culture
Strategy
Approach
Leadership
Governance
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HCM Best Practices: Strategy
Ensure alignment to business strategy Think from the “outside-in” Provide signature experiences that matter Outsource transactional support and
simple service Advocate for the use of technology –
it’s effective and efficient
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HCM Best Practices: Leadership
Be inclusive and involve stakeholders early Establish guiding principles and trust your
teammates Communicate “what you know, when you
know it” – consistently Manage risk, don’t avoid it Use facts and data to guide decisions Encourage and reward informed debate
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HCM Best Practices: Approach
Define and maintain a 3-5 year view of projects and corresponding outcomes
Choose the right project management methodology to match complexity
Use the employee experience as a change management tool
Maintain priorities – risk, quality, speed, cost Focus on workforce readiness and adoption
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HCM Best Practices:
Governance
Establish shared goals for all those involved in delivery and transformation
Cover people, process and technology change Have a well defined escalation path Control scope, resources and timeline Hold senior leaders accountable for
participating and being supportive publicly
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HCM Best Practices: Culture and Core Values
Deliver together, Act responsibly, Realize the power of our people, Trust the team “ “
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HCM Best Practices:
Culture and the Human
Approach
Keep it simple, be transparent, show empathy, demonstrate caring “ “
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Bank of America
HCM To-Do List
10. Think from the employee point of view 9. Choose the right set of advisors and business partners 8. Attract and retain the right team members –
optimize mobility and turnover 7. Manage the workforce spectrum –
full-time, part-time and contingent 6. Embrace the use of technology / social media 5. Move from administration to consultation –
on talent and performance 4. Keep stakeholder buy-in and momentum over
an extended period of time 3. Meet complex regulatory requirements in
geographies / jurisdictions 2. Ensure business leaders and employees are
well prepared for change 1. Stay in touch with employee expectations
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Thank you
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