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Business Acumen HR
Transcript of Business Acumen HR
January 2013 Business Acumen - A foundation for partnering Why & What? Strategy Engine Operations Language HR Mission
Build the team and environment capable of winning in the market place (executing the strategy)
HR Operating Model
Teaching and persuading HR Mission:
Partner with the business to create a high achieving environment that enables ICON to be recognized for our outstanding service and quality. We make ICON the place where great people are proud to work and develop their careers
HR Operating model: BUSINESS ACUMEN
You can attract more bees with honey than with vinegar …..
Translation for internal consulting:
Meet your client where they are …
Understand and solve their problems
Speak their language …
All the while using / leveraging your expertise Improving business acumen increases: insight, solution development, implementation and impact of people initiatives What is Business Acumen?
Understanding business strategy
Understanding economic engine
Understanding the organization’s “language” Goal: understanding and practice of business acumen Generic Vision, Mission and Strategy
Purpose … noble / emotional … enduring …
“who we are / want to be?”
Results … goals … accomplishment … “what we
want to do?”
Plan … differentiator … “how we will win?” ICON Mission, Vision and Strategy
To accelerate the development of drugs that save lives and
improve the quality of life.
To be by 2017 the global CRO partner of choice for the biopharma and
medical device industries by delivering best in class information,
solutions and performance in clinical and outcomes research
Achieving broad scale
Being operationally excellent
Developing leadership talent
Leveraging innovative informatics, and
Enhancing intellectual capital Leveraging Strategy for Partnership
Are the ICON strategies “good” (why
or why not?)
Do you know the division / function strategy?
People and leadership implications of strategy?
Organizational issues / problems in implementing strategy (existing
and future)? Economic engine
General Electric Terminology – aimed at creating focus and avoiding being confused or paralyzed by data
The critical few (one or two, maybe three) items that “drive” the business (profit generation allowing for future growth and investment)
The difference between “a good year” and “a great year” … Small improvement (absolute % or dollars) leads to large impact (leverage) Some economic engines …
Hotel – room occupancy
Airlines – In regulated airlines - seat utilization; in deregulated airlines; cost per seat
McDonald’s – facility utilization
What underlies the economic engine?
Component pieces make up the complexity – Southwest Airlines and “cost per seat”
Airports and gates
Labor costs Understanding the economic engine
What is your business’ economic engine?
The people implications?
The partnership implications? Economic Engine is the forest, understanding operations is understanding the individual trees
Who does what?
How do they do it?
What matters to them – and how do they manage it?
What matters to customers? Language
Know what’s important to your line partner, why it’s important, how it’s measured and “who cares”
Every company must both “perform for today” and “prepare for tomorrow” – you should learn the language of both aspects of performance
Know, “who owns the language” and where it comes from – don’t be afraid to ask
Each company will have its own language of important things – your understanding of that language allows you to frame people issues in a way that makes it easier for your partner to “hear” Some of ICON’s language:
Orders or sales
Book to bill
Operating Margin Retracing our path …
Our mission and role is to …
To succeed we need to partner…
Which requires acumen and partnership skills.
We’ve been discussing acumen, tomorrow, you’ll work on the coaching / influencing piece of the partnership formula EFFECTIVE - Centres of Expertise:
Conversion of HR best practice into HR strategies, policies and programmes that meet business need
Developing globally consistent services
The work of the team will initially focus on recruitment, performance & reward as well as talent and leadership development.
EFFICIENT - The Global HR Business Centre:
Delivery of core HR services to our customers in the business. Services include HR consultancy, HR transactions and support
Aligned to countries through 4 geographic regions
These services will be delivered through a blend of technology, service centers and HR Managers
EASY - HR Business Partners:
Strategic HR partners working with divisional executive teams
Aligned to ICON divisions
Responsible for aligning HR strategy to business strategy, driving employee engagement, workforce planning, talent management and performance management. Priorities (POS)
Translating business strategy to HR strategy
Developing and implementing people practices to drive strategy
Build the leadership capability / quality to drive organization forward
Build the environment / culture to support organizational goals Understanding our path and its impact
Can you explain:
What service and value we'll provide?
How will we work together across HR?
How will we measure the success of HR Business Partners and HR Managers?
The skills and competencies required?
What's your reaction?
Can you relate this to your work?
What do you need to do differently?
What scares and excites you? What obstacles can you foresee?