TD Bank

Report
ALIGNING MOBILITY WITH ORGANIZATIONAL STRATEGY
ELLIE SULLIVAN
VP Consulting
Weichert Workforce Mobility
JAN OWEN
Senior Manager
Global Relocations Service, HR Business Services Delivery
TD Bank Group
Objectives
• Examine Workforce Mobility within the
greater context of Talent Management
• Explore Case Studies
• Have learningful conversations about how to
align Mobility with Organizational Strategy
• Help prepare you for collaborating with
leadership
Perspective
• Drawing from numerous sources to inform this
presentation:
– Towers Watson – Global Talent 2021
– IPSOS – Workforce mobility research
– Corporate Executive Board
– Human Capital Institute’s - Human Capital
Strategist
– Interviews with clients/suppliers/stakeholders
Workplace Dynamics
Past
Hierarchical
 Hierarchical
Current
Flat/Multinational
Future
Open Talent
 Ultimate flexibility
 One place of work
 Increasing autonomy
and flexibility
 Regular business hours
 Core work hours
 Virtual teams
 Growing number of
locations
 One world
 Always on – real time
Talent Trends
This Towers Watson Heat Map depicts the deficit between
the growth in demand for talent and the supply of talent.
(Numbers show trend growth as an annual percentage.)
Deficit
Surplus
Broad Balance
Source: Global Talent 2021, Towers Watson, Oxford Economics
ATTRACT TALENT
Talentism
“The success of any national or business
model for competitiveness in the future
will be placed less on capital and much
more on talent …the world is moving from
capitalism to talentism
”
Klaus Schwab, Founder and Executive Chairman World
Economic Forum, 2012
The world is entering a new era, one
requiring the redesign of business models,
redefinition of value propositions and
reinvention of social systems.
This transformation is necessary with
“Capitalism” shifting to “Talentism,”
where it matters less if countries and
companies can access the capital they
need and more if they can attract the
talent they need to win.
–
Jeffrey A. Joerres, Chairman and CEO of
ManpowerGroup
Workforce Mobility Trends
Motives and willingness to relocate are varied:
• Almost half (45%) of employees strongly agree that they could be
convinced to take an international assignment
- ‘if the incentive package from my employer was right’ or
- ‘if my employer provides support for my spouse to get a job there, too’.
• Key incentives that would motivate an employee to accept an employer
sponsored relocation include:
•
•
•
•
•
a guaranteed option to return to their current role after two years, (45%),
airline tickets for family visits (43%)
a paid trip to visit the country of assignment in advance (43%) and
immigration assistance for their spouse or partner (42%).
One third of global employees agree ‘there is nothing my employer
could do to convince me to take an international assignment’.
(Source: Weichert/BDO sponsored Ipsos/CERC research)
How are Companies Doing This?
• Closer connectivity between Business and
HR Strategy
• Integrating internal functions, HR Generalists,
Talent Management and Mobility
• Thinking both long term and short term—
benefits to the employee and the organization
• Managing mobility from a tactical and strategic
perspective—what are the overarching objectives
for our mobility program and how
can we meet those objectives
Talent Management Cycle
Understand what talent you need,
where it will come from (internal
promotions, outside the organization,
around the world) & how you will
nurture this talent.
Leverage the experience gained to further
engage and retain valuable talent & plan for
successions.
Retain
Use an agile, skilled workforce to
fill critical skills and advance
corporate goals.
Promote mobility as a unique
employee value proposition to
attract the right talent.
Deploy
Attract
Acquire
Develop
Get them ready for tomorrow’s role. Use
mobility experiences to help talent gain new
skills, acquire cultural insights and achieve
performance objectives.
Plan
Engage
Use mobility experiences to tap into the
motivations and needs of critical talent.
Set expectations that mobility is
required to advance/gain skills.
Talent Segmentation
Emerging
High Pos
Assignment benefits
High
Potential
Key
Strategic
Roles
reflect the
developmental value
MEDIUM
to the individual and
LOW
Individual Value
HIGH
Relocation and
Short Term
Results
Career
Building
LOW
Leadership Long Term
Development Results
Technical
Experts
Critical Skill
Set
MEDIUM
Business Value
HIGH
the value to the
business.
VALUE/IMPACT
Mobility Optimization Maturity Spectrum
Optimizers
Implementing all Best Practices
Able to demonstrate significant ROI
Analytics drive mobility decisions
Mobilizers
TIME
Proactive
Reactive
Implementing some Best Practices
Able to demonstrate some ROI
Monitoring Analytics
Understand Workforce Plan
Mobility used as strategic staffing
resource
Lack of planning
No tracking
Poor utilization of Best Practices
EFFICIENCY
EFFECTIVENESS
11
Source: Weichert Workforce Mobility 2014
Talent Mobility Alignment Process
1. Audit/Assess
5. Refine
Define workforce strategy
Define business goals
What is working/what isn’t
Cost/program benchmarking
Stakeholder input
Monitor metrics
Evaluate program success
Adjust to achieve desired results
4. Implement
2. Design
Select the right candidates
Prepare for assignment
Support while on assignment
Ensure compliance
Repatriate successfully
Stakeholder involvement
Future state creation
Define roles & responsibilities
3. Build
Secure suppliers
Integrate technology
Define processes
Case Study
.
TD Bank
.
Over 8 million
active on-line &
mobile
customers
Over 2,400 Retail
Business Locations
Over 22 million
customers
TD at a Glance

TD Canada Trust named highest in Customer Satisfaction among
the Big Five Retail Banks for the eighth year in a row.

Fortune Magazine has named TD one of the World's Most Admired
Companies for 2014 ranked 4th of all global banks in the megabanks
category, with high marks for social responsibility, use of corporate
assets and financial soundness.

Interbrand named TD # 1 brand in Canada

TD #1 in Canada for mobile subscribers accessing financial services
via their mobile devices.

TD Bank, America’s Most Convenient Bank® reached a milestone in
New York City opening its 100th store.
TD Bank
16
Background
Key Objectives
Flexibility to facilitate a mobile workforce, acquire top talent,
provide development experiences preparing talent for larger
mandates and preserve TD’s values.
Comprehensive review began 2011
• Surveyed TD Stakeholders, including HR/business leaders, key
partners & employees
• Input from industry contacts, peers, benchmarking, providers of
outsourced global mobility solutions
Mobility Team

Global Mobility
1) Policy owners
2) Offer letters: coordinate input from stakeholders (Talent Mgmt, Business,
HR, Compensation, Benefits etc.)

Relocation Service Delivery
Single point of contact to employee, counsel, implement services, manage
vendors
Global Workforce
.
Permanent Moves
Domestic
International
Move from one location to another with no commitment to relocate back to original location
Expatriate
Short-Term & Rotational
2 – 5 yr International Assignment with
family & intention to repatriate
4 - 24 month
Temporary assignment (development,
leave, project related)
Commuter
Lives in one jurisdiction & works in another
– unaccompanied by family
Business
Traveler
Travel regularly for short intervals to
another country for work or business
Background
Historical Policies
FULL MOVES
• Case Manager would deliver a set of services:
Guaranteed home sale program, household goods moving assistance,
temporary accommodation assistance, home purchase assistance.
CAPPED MOVES
• Case Manager assists in delivering services within an established
budget:
• Moving allowance established by businesses
Business budget, new vs. existing employee, employee initiated move
vs. bank initiated, urgency of the hire, seniority of the employee
Disparity: budget vs. employee experience
Stakeholder Feedback
 Inconsistency of relocation benefits delivered
 Businesses need flexibility – bank initiated vs. employee


initiated moves
Need a solution to reduce stress of compressed
timeframes, provide more information & support to make
important relocation decisions
Employees spend too much time transitioning and settling
in at destination
No support to partners in their work transition
Case Study
What policy framework changes would enable the businesses the
flexibility to increase/decrease benefits with consistency?
Group I
In order to contain costs, which category of relocating employee
would be entitled to fewer benefits?
Group II
What benefit(s) could be added/enhanced to reduce the pressure
of accelerated move timelines?
Group III
What benefits could be added to increase the amount of
information needed to make important decisions & alleviate the
stress of settling in? Should all employees be entitled to this
benefit?
Group IV
What would “Partner Support” look like?
ACTIONS AND RESULTS
•
•
•
•
•
•
•
Understand your organisation's business - inside and out
Share responsibility for business goals and plans
Run your department like a business
Measure outcomes and goal achievement, not work processes
Make yourself visible
Learn how to crunch numbers
Focus on outcomes
Talent Mobility Alignment Process
1. Audit/Assess
5. Refine
Define workforce strategy
Define business goals
What is working/what isn’t
Cost/program benchmarking
Stakeholder input
Monitor metrics
Evaluate program success
Adjust to achieve desired results
4. Implement
2. Design
Select the right candidates
Prepare for assignment
Support while on assignment
Ensure compliance
Repatriate successfully
Stakeholder involvement
Future state creation
Define roles & responsibilities
3. Build
Secure suppliers
Integrate technology
Define processes
IT’S ABOUT CONFIDENCE, INFLUENCE, AND INSIGHT
• Regardless of your business, industry or location, if you’re asking your
• leaders and yourself these questions, and acting upon the conclusions,
• your impact will be noticeable:
– What’s our business strategy?
– What does our organisation need to be like tomorrow to
realise the strategy?
– What are the gaps between today and tomorrow?
– How will we close the gap?
– How will we manage and measure it?
– It’s about translating strategy into action
Patti Johnson, CEO of BDO People Results
Page 25

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