Optimizing human capital by bench marking your star performers
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Optimizing Human Capital by Bench- marking Your Star Performers. Human Capital Track Paul H. Elliott, Ph.D. Objectives. At the conclusion of this presentation you should be able to: Define the value proposition for benchmarking star performers.

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Optimizing human capital by bench marking your star performers

Optimizing Human Capital by Bench- marking Your Star Performers

Human Capital Track

Paul H. Elliott, Ph.D.


Objectives

Objectives

At the conclusion of this presentation you should be able to:

  • Define the value proposition for benchmarking star performers.

  • Identify and prioritize opportunities within your organization for maximum ROI.

  • Discuss the Profile of Exemplary Performance (PEP) approach for capturing expertise.

  • Shift the performance curve for key roles by aligning the performance system components for optimal results.


Objectives1

Objectives

At the conclusion of this presentation you should be able to:

  • Define the value proposition for benchmarking star performers.


Approaches to improving results

Approaches to Improving Results

  • Shift your strategy

  • Enter new markets

  • Release new products

  • Acquire a competitor

  • Benchmark other organizations


Approaches to improving results1

Approaches to Improving Results

  • Shift your strategy

  • Enter new markets

  • Release new products

  • Acquire a competitor

  • Benchmark other organizations

    - OR -

    Benchmark Your Internal Stars


Differentiating between talent and performance

Differentiating between Talent and Performance

Percent of workforce

Level of Talent

Minimum

Standard

Exemplary


Exemplary performers produce greater results that support business strategy

Exemplary Performers Produce Greater Results that Support Business Strategy

Percent of workforce

Level of Performance

Minimum

Standard

Exemplary


Which does the organization value

Which Does The Organization Value?

1. I know the principles of information theory and packet switching.

2. I can do these behaviors: Install a switch, configure a switch, monitor network operations.

3. The reliability of the network I managed consistently exceeded design specifications.


We know them by their results

We Know Them by Their Results

  • A sales person exceeds quota by 100% and gets rave reviews from her customers

  • The skilled trades technician who restores the line to full capacity 30% faster than peers

  • A pilot lands safely on the Hudson


Defining stars

Defining Stars

Stars are those teams and individuals who consistently produce the greatest results that support your organization’s strategy and goals.

These performers may not have the most talent [potential], but they translate the talent they do have into meaningful outcomes that drive business success.


Exemplary performers produce greater results

Exemplary Performers Produce Greater Results

New

Standard

Average performers can become more like stars

Value

Percent of workforce

Level of performance

Minimum

Standard

Exemplary


Audience poll

Audience Poll

  • How large is the variance between your best performers and your good performers?

    • 5%

    • 10%

    • 20%

    • 40%

    • 60+%


Research reveals size of the gap

McKinsey War for Talent

“A” players grew revenue by 52%

“B” players grew revenue by 4%

“C” players shrunk revenue by 15%

Research Reveals Size of the Gap

  • Huge upside to shifting B up to A performers

  • Sales Executive Council

    • Top 20% outperform middle 60% by 60%

    • Top performing sales teams outperform average teams by 180%

The more complex the selling environment, the larger the gap and the higher potential return


Tom peters in search of excellence

Tom Peters - In Search of Excellence

"High potentials" will take care of themselves. The great productivity "secret" is improving the performance of the 60% in the middle of the distribution.

Blog posting 10/09/13


Exercise

Exercise

  • Calculate the potential value of shifting the performance curve


Fact or myth

Fact or Myth

Fact

Myth

  • Talent is the key differentiator in performance

  • IQ and/or memory make all the difference

  • Hard work makes up for any shortfall in talent

  • Experience separates the great from the average


Fact or myth1

Fact or Myth

Fact

Myth

ü

  • Talent is the key differentiator in performance

  • IQ and/or memory make all the difference

  • Hard work makes up for any shortfall in talent

  • Experience separates the great from the average

ü

üü


What makes a high performer

What Makes a High Performer?

What they are:

A certain personality type

With defined competencies

How to define:

MBTI

Hogan

McClelland

Hay Group

What it shows:

Preferences

Capabilities


What makes a high performer1

What Makes a High Performer?

What they are:

A certain personality type

With defined competencies

Who produces accomplishments

How to define:

MBTI

Hogan

McClelland

Hay Group

ExemplaryPerformers

What it shows:

Preferences

Capabilities

Results

If you just focus here

you don’t get this


Value of shifting the curve potential to improve performance

Value of Shifting the Curve“Potential to Improve Performance”

400 Sales people carrying a $1M quota

20 Exemplary Performers achieving $1.5M

Close the gap by 20% or $100,000

Revenue increase of $38M

%


Objectives2

Objectives

At the conclusion of this presentation you should be able to:

  • Define the value proposition for benchmarking star performers.

  • Identify and prioritize opportunities within your organization for maximum ROI.


Prioritizing performance improvement opportunities

Prioritizing Performance Improvement Opportunities

  • What is the organization’s business strategy?

  • What key initiatives are planned for the coming year?

  • What sets us apart from our competition?

  • What is our competitive advantage?

Which roles or employee groups are most critical for executing against our strategy, our initiative or in maintaining our competitive advantage?


Prioritizing performance improvement opportunities1

Prioritizing Performance Improvement Opportunities

  • Identify positions that are strategically important

  • Identify most critical output for each role

  • Review data for variance in performance

  • Estimate the % by which you can reduce variance

  • Calculate the value of shifting the performance curve


Exercise1

Exercise

  • Prioritize opportunities within your organization


Objectives3

Objectives

At the conclusion of this presentation you should be able to:

  • Define the value proposition for benchmarking star performers.

  • Identify and prioritize opportunities within your organization for maximum ROI.

  • Discuss the Profile of Exemplary Performance (PEP) approach for capturing expertise.


Performance analysis is the tool for capturing exemplary performance

Performance Analysis is THE Tool for Capturing Exemplary Performance

  • Identifying Star Performers

    • Quantitative measures

    • Qualitative measures

  • Case-based Approach

    • Major Accomplishments

    • Criteria

    • Tasks and steps

    • Influences


Exemplary performance system eps

Exemplary Performance System (EPS)

Exemplary Performance

 2008-2012Exemplary Performance, LLC


Linking exemplary performance to business goals

Linking Exemplary Performance to Business Goals

PERFORMANCE UNFOLDS LEFT TO RIGHT

Influences

Job Behaviors

Job Outputs

Business Goal

  • Measuring Performance Against Plan

  • Finding Qualified Leads

  • Reaffirming Client Goals and Risk Tolerance

  • Territory Plan & Scorecard

  • Accurate/ Compliant Admin. of Accounts

  • Asset Allocations Aligned with Client Goals

  • Client Retention

  • Assets Under Management

  • Time to Competence


Linking exemplary performance to business goals1

Linking Exemplary Performance to Business Goals

PERFORMANCE UNFOLDS LEFT TO RIGHT

Influences

Job Behaviors

Job Outputs

Business Goal

  • Measuring Performance Against Plan

  • Finding Qualified Leads

  • Reaffirming Client Goals and Risk Tolerance

  • Territory Plan & Scorecard

  • Accurate/ Compliant Admin. of Accounts

  • Asset Allocations Aligned with Client Goals

  • Client Retention

  • Assets Under Management

  • Time to Competence

ANALYZE PERFORMANCE RIGHT TO LEFT


Criteria for identifying star performers

Criteria for Identifying Star Performers

Exceptionally high performers (< 5%)

  • Selected based on achievement of quantifiable business results

  • Consistently exceed metrics and do it efficiently

  • Cannot be identified on performance appraisal alone

  • Have been in position for at least a year

Often unconsciously competent


Star performer interviews

Star Performer Interviews

  • Case-based analysis

  • Best conducted at place of performance

  • Focused on accomplishments, success criteria and actions in context

  • Precise and deep – seeking insight regarding decisions, criteria, sequence, triggers, etc.

Other primary source: managers of stars

Potential secondary sources: direct reports, peers, customers


Management example

Management Example

Job Title: District Sales Manager

Major Accomplishments:

  • Tactical marketing plan for district

  • Competent sales reps

  • Office functioning to support sales reps

  • Inputs to Vice President of Marketing on strategy

  • Data on district performance


Management example1

Management Example

Job Title: District Sales Manager

Major Accomplishment:Competent sales reps

Tasks:

  • Fill vacant position

  • Determine performance influences needed

  • Coach sales reps

  • Diagnose performance problems

  • Prescribe solutions to performance problems


Example account executive details of one accomplishment

Example: Account ExecutiveDetails of One Accomplishment

Major Accomplishment: Healthy Pipeline

Importance:Important

Difficulty: Moderate Difficulty

Major Criteria:

  • Percentages spread over pipeline are sufficient to deliver revenue quota each quarter

  • Opportunities in pipeline are balanced between short-term and long-term sales cycles

  • Number of opportunities is valid


Example account executive details of one accomplishment1

Example: Account ExecutiveDetails of One Accomplishment

Major Accomplishment: Healthy Pipeline

Interactions:

People: Sales manager, customers, virtual team members

Tools/resources: CRM system, personal spreadsheet

Influences:

Facilitators: Sales portal

Barriers:

  • Lack of time and discipline

  • Sales portal too “clunky/complex,” drop-down menus are confusing, resulting in errors in classification

  • CRM system doesn’t provide all necessary data


Example task list

Example Task List

  • Healthy Pipeline:

    • Build individual business plans

    • Identify sales opportunities with account team

    • Identify sales opportunities with partners

    • Tier opportunities in order to allocate resources

    • Conduct sales activities and marketing programs to obtain additional prospects

    • Track opportunities in CRM System

    • Qualify prospects using provided criteria

    • Participate in pipeline review meetings to determine next step to advance deals

    • Build and maintain trustworthy personal relationships with internal and external sales resources


Exercise2

Exercise

  • Hypothesize two or three major accomplishments for one critical role


Objectives4

Objectives

At the conclusion of this presentation you should be able to:

  • Define the value proposition for benchmarking star performers.

  • Identify and prioritize opportunities within your organization for maximum ROI.

  • Discuss the Profile of Exemplary Performance (PEP) approach for capturing expertise.

  • Shift the performance curve for key roles by aligning the performance system components for optimal results.


Just imagine

Just Imagine. . . .

  • That every member of your team was as successful and engaged as they intended to be the day they were hired

  • That your organization was barrier-free . . . designed for optimal performance

  • That everyone understood the ‘worth of their work’ and was fully engaged

    What would that mean for your customers, your organization and your employees?


Exemplary performance system eps1

Exemplary Performance System (EPS)

Exemplary Performance

 2008-2012Exemplary Performance, LLC


Shifting the curve optimally

Shifting the Curve Optimally


Expectations and feedback

Expectations and Feedback

Regional GM

  • No Sales or IT resources within own control

  • Set expectations for all that required cross-functional strategic and tactical planning for region


Motivation capacity job fit

Motivation, Capacity & Job Fit

Lab Pathologist

  • Reduced processing of lab specimens from 9 months to 2 weeks

  • Had revenue component of job responsibilities – changed advertising and selection of new hires.


Skills knowledge

Skills & Knowledge

Refinery Operator

  • Aging workforce

  • New hires not coming with traditional background

  • Developed Operator Qualification System based on Star Performer practices


Expectations feedback

Expectations & Feedback

Weapons Petty Officer

  • Collateral Duty

  • Un-aligned support (maintenance, policy, procedures)

  • Produced clarity of valued output


Optimizing human capital by bench marking your star performers

Poll

  • What is the primary contributor of gaps between your stars and average performers?

    • Expectations & Feedback

    • Rewards, Recognition & Consequences

    • Work Environment

    • Motivation & Preferences

    • Skills & Knowledge

    • Capacity & Job Fit


Exemplary performance system eps2

Exemplary Performance System (EPS)

External to

the Individual

75%

Exemplary Performance

25%

Internal to

the Individual

 2008-2012Exemplary Performance, LLC


Maximizing the shift of the curve

Maximizing the Shift of theCurve


Sample job description

Sample Job Description


Sample hiring guide

Sample Hiring Guide


Maximizing the shift of the curve1

Maximizing the Shift of theCurve


Sample coaching guide

Sample Coaching Guide


Maximizing the shift of the curve2

Maximizing the Shift of theCurve


Driving performance through lean training

Driving Performance Through “LEAN” Training

Relevant Subject

-matter

Value-

Added

Activity

KNOW

PRODUCE

DO

Relevant Actions

Outputs of Value

 2008-2010

Teach only the knowledge (KNOW) and skills (DO) needed for people to produce valued results. Teaching anything outside the valued-added band is potentially a waste of time and money.


Characteristics of an ideal training asset

Characteristics of an Ideal Training Asset

  • Relevant content

  • Role-specific examples and practice

  • Sufficient practice

  • Performance support, when appropriate

  • Adequate simulation at highest practical level


Advantages of context intensive design

Advantages of Context-Intensive Design

  • Relates training to activities and results of participants’ role[s]

  • Reduces time to competence by 30% or more

    • Leaner learning

    • Appropriate use of performance support

    • Significantly enhances transfer of training

  • Reduces readiness development cycle by 20% to 30%

  • Makes Level III & IV evaluation feasible and, in fact, requires it


Context intensive curriculum design model

Context-IntensiveCurriculum Design Model


Potential benefits o f performance support

Potential Benefits ofPerformance Support

  • More reliable than memory

  • Quicker to develop

  • Reduce formal training time

  • Minimize the need for experience

  • Easier to change

  • Focus attention on what the developer wants the performer to do and produce.


Performance support vs memory decision

Performance Support vs.Memory Decision

Job Aid

Yes

Job Aid Required by regulation/policy

No

  • One or more of these

  • for not Job-Aiding

  • Too slow (Speed)

  • Physical barrier

  • Social barrier

  • Other

Way of Minimizing

barrier(s)?

No

Yes

Yes

No

  • One or more of these

  • for Job-Aiding?

  • High consequences

  • High complexity

  • High change

  • Other

Frequency of the Task high?

No

Yes

No

Job Aid

Memory

Yes


Contact information

Contact Information:

Paul H. Elliott, Ph.D., President

[email protected]

(410) 266-8400


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