using hr processes to grow your business
TRANSCRIPT
Gary Wheeler, The Virtual HR Director, LLC 1
Using HR ProcessesTo Grow Your Business
Gary Wheeler, SPHR, GPHR, CCP, CBP
Gary Wheeler, The Virtual HR Director, LLC 2
Objectives “What does it really mean to be a strategic
business partner? How do I know if I am meeting that objective? How can I do a better job of partnering with
top executives Help you set six goals to take back to the job Opportunity to share HR Legal updates
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What Are The Four Priorities
1. Increasing shareholder value2. Profit 3. Customer satisfaction4. Employee satisfaction
Note: from an HR perspective, we must accomplish this in reverse order to achieve this goal
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How Do You Grow Business?
1. Profitability (five-ways)2. Productivity (four-ways)
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Business Basics
You can use this CHASSIS to build either a VW or a PORSCHE ...
This is the most powerful business secret you’ll ever learn ...
6Gary Wheeler, The Virtual HR Director, LLC
Five-ways There are five-ways to increase profitability
Leads – marketing Conversion rates – sales Number of transactions – customer service Average dollar sale – sales & accounting Margins – engineering Where does HR fit in?
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Number of Leadsx
Conversion Rate=
No. of Customersx
No. of Transactionsx
Ave. $$$ Sale=
Revenuesx
Margin =
Profits
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Let’s put in some numbers ...Number of Leads
xConversion Rate
=No. of Customers
xNo. of Transactions
xAve. $$$ Sale
=Revenues
xMargin
=Profits
4,000x
25%=
1,000x2x
$100=
$200,000x
25% =
$50,000
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10% increaseNumber of Leads
xConversion Rate
=No. of Customers
xNo. of Transactions
xAve. $$$ Sale
=Revenues
xMargin
=Profits
4,000x
25%=
1,000x2x
$100=
$200,000x
25% =
$50,000
4,400x
27.5%=
1,210x
2.2x
$110=
$292,820x
27.5% =
$80,525.50
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100%Number of Leads
xConversion Rate
=No. of Customers
xNo. of Transactions
xAve. $$$ Sale
=Revenues
xMargin
=Profits
4,000x
25%=
1,000x2x
$100=
$200,000x
25% =
$50,000
8,000x
50%=
4,000x4x
$200=
$3.2 millionx
50%=
$1.6 million
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HR Competency Model
Strategic Contribut
ion
Business Knowledg
e
HR Delivery
HR Technolo
gy
PersonalCredibilit
y
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Strategic Contribution Culture management
Fast change
Strategic decision making
Market-driven connectivity
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Personal Credibility Effective relationships
Achieving results
Personal communication
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HR Delivery Staffing Development Organization structure HR measurement Legal compliance Performance management
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Business Knowledge Value chain knowledge
Value proposition knowledge
Labor knowledge
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HR Technology HR technology
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Developing a StrategyCorporate HR
Vision Vision
Mission Mission
Goals Metrics
Strategy Strategic Imperatives
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Strategic ImperativesStrategic Initiatives
Projects Programs New Processes
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HR Strategy
An image of the desired future / inspirational &
aspirational
A clear and compelling goal
Needs/wants to achieve
The plan by which the goals and mission will be
achieved
Vision
Mission
Goals
Strategies
InitiativesTactical / operational plans to implement the strategy
© Copyright Human Resource Business Partner Consultant 2005
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Measures Balanced Score Card Key Performance Indicators (KPI’s)
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Action Plan Three steps to ensure HR is more strategic
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Thank You