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Transcript of Effective people-and-productivity-management
- 1.Effective people andproductivity management Peter ScottPeter Scott Consulting
2. Effective people and productivity management Measuring the financial value of humancapital Making best use of your people toincrease profitability Partners and profitability 3. Measuring the financialvalue of human capital 4. Is your business leaking moneylike a sieve? 5. Leaking like a sieve?because you do not have theright.. 6. .leadership and influencingskills to get the best out of yourpeople? 7. Is this you? 8. .people environment to makeyour business a real success? 9. Are we all going in the samedirection? 10. .mechanisms to prevent the attrition of high qualityperformers? 11. This will happen to your talentunlessTALENT 12. .systems to managerelationship conflict? 13. Heavyweight gorilla You cant manage me. Im a big biller! 14. .systems to manage thepeople risks in your business? 15. F Assetina nReciapu ltatio Econnal pol omic, iticfisc al, al tOperationalnpe titioCom iness s Managemen/buLaw Firm Risks Pe op leIT Regulatory 16. Examples of People Risks Advice/client care/client matters Client relationships Loss of teams/partners Real cost of staff turnover/recruitment Regulatory regimes Equal opportunities Age and Sex discrimination & harassment Disability Racial equality Dismissals Maternity Working time regulations Pensions Management 17. .culture to support high performance levels? 18. Building a performance cultureValuesSkills & Behaviours Performance Metrics Qual/Quant Performance Review Closing the Performance GapLearning & Development Strategy 19. What is the real cost of replacing people? 20. The real cost of replacing people Disruption Recruitment fees Training of new recruits Effect on morale of people leaving Loss of relationships / clients 21. How to retain and get the best out of your people?Help them maximise their full potential This requires investment in your people 22. Investment in your people?For exampleWho has a New Partner Programmedesigned- to bring people through to partnership?- and which continues throughoutpartnership? 23. Investment in your people requires?- Leadership and vision- Values- Training- Mentoring- Coaching- Empowering- Supporting 24. Are you investing sufficient in your people to realise theirfinancial value to yourbusiness? 25. Building profitability throughpeople management Stop leaking money like a sieve! Building people performance Make best use of your people resource 26. To do this you will need astrategyStrategy is a realistic plan or course ofaction to gain competitive advantage whichhas clear and achievable objectives anduses available resources 27. Your greatest resource?Your people 28. Building people performance Values Skills & BehavioursPerformance Metrics Qual/QuantPerformance ReviewClosing the Performance Gap Learning & Development Strategy 29. What does it take to succeed atyour firm? What do you value? Do you invest in what you value? Do you reward what you value? 30. An integrated strategy to best use your people resourcesleveragedelegation 31. Delegation is key to profitability Be a better boss by doing less work! Match the level of work to the appropriate levelof expertise / cost Sell at the right price! = improved margin 32. Leverage - you need to be aiming for thisEquity partnersOther fee earners 33. Not this Equity partnersOther fee earners 34. Leverage will differ from firm to firmWill depend on: A firms work type / client type mix How a firm adds value to its clients 35. You will add value if You provide clients with what they want and more At prices they perceive to be value formoney; and You do this better than the competition 36. High Value Added Services High value- added services strategicimpact on client generally wisdom/experience driven Focus on specific client types/work types Seek leadership in a few, cohesive segments Nurture wisdom/experience within the firm 37. Low Value Added Services Low value added firms will compete on processes and price technology driven services with minimum professional input Value enhanced by Driving down cost ensure lowest cost Investing in standardising processes Facilitating implementation of solutions 38. Low Value Added Services To be successful firms need to constantly squeeze out more value for samecost Ensure financial strength to stay the course Avoid creating the perception of reducedquality 39. But greater leverage requiresmore risk management Supervision Training Case management systems Knowledge on part of management 40. And leverage and delegation involve teamworkingWhy are teams important?TogetherEachAchievesMore 41. Teams provideSupportAbility to delegateContinuity of service deliverySense of purposeAccountability / peer pressureEsprit de corps 42. Are all your people team players? 43. How not to be a team player?we have no room for those who put theirpersonal agenda ahead of the interests ofthe clients or the officeDavid Maisters Predictive package 44. Do own thingThats a great idea for the rest of you 45. But people resources are scarce Cannot be all things to all men Need to build focus into your business Focus on- work types- client typesin order to gain competitive advantage 46. Balancing your profit and your partner numbers 47. How many equity partnersshould you have to maximiseprofit?Every firm is different but factors to beconsidered may include: Your work type / client type mix How a firm best adds value Ability to supervise and manage Culture of firm / financial ambitions 48. Your partners? Are you getting the best out of yourpartners? Who does NOT have an underperformingpartner? 49. How much is partnerunderperformance costing you? Direct financial loss? Loss of good partners and staff? Loss of morale? Loss of relationships / clients? 50. What are you now going to do to stopyour firm leaking money like a sieve?