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MAXIMIZING THE HUMAN RESOURCE FUNCTION AT YOUR BANK: CRITICAL COMPONENTS

Terry Saber Saber Advisory Group, LLC

Dassel, Minnesota [email protected]

612-202-6313

August 7 & 8, 2017

Maximizing HR Leadership at Your Bank:Critical Components

Graduate School of Banking 2017

Saber Advisory Group, LLC © 2017 1

Maximizing the HR Function at Your Bank:Critical Components

Human Resource Management Elective Graduate School of Banking

2017

Saber Advisory Group, LLC © 2017

Course Objectives

• Understand the HR Leadership role

• Identify 12 basic responsibilities of HR

• Assess the “New World Order” HR Toolkit

• Know what to look for in:– Performance Management– Recruiting and Hiring– Training and Development– Total Rewards

• Checks and balances to hold HR accountable

2Saber Advisory Group © 2017




Why are you in this Elective?

What’s important?

Establishing Priorities


Agenda

• TBD . . . Class Priorities

• HR Structure: “Up to snuff?”

• 12 HR Functions

• HR Toolkit

• HR Inventory





HR Leadership

• “Up to snuff?”

• Do you have the role defined properly?

• Contributing to bottom‐line performance? How?

• Who’s leading the charge?


HR Leadership: A Role Model?

. . . of coaching and development?

. . . of excellent “sales” skills?

. . . of open, transparent communication?

. . . of culture and values?





HR Leadership: A Role Model?

. . . of a staff support role that has the tools in place to allow managers to effectively coach and manage?

What shape is the toolbox in?


12 Critical HR Functions

• All may or may not apply

• Importance / weighting may differ by bank . . .

• . . . by culture






1. Recruiting/Talent Acquisition

2. Employee Engagement

3. Learning & Development

4. Organizational Development/Culture


DEFINITION:

The practice of changing organizations for positive growth

Organizational Development






5. Total Rewards– Compensation– Benefits– Perks

6. Performance Management

7. Talent Management and Succession

8. HR Operations / Compliance / RM



9. Human Resource Information Systems (HRIS)/Data Analytics

10. Diversity / Inclusion/AA

11. Internal Communications

12. Retiree Relations





“New World Order” HR Toolkit

1. HR Leadership with a “seat at the table”

2. Competitive compensation structure(s) and plans: Foundational!

3. Updated meaningful job descriptions with “new world content”!



4. Recruitment strategies that mirror a social media‐connected world

5. Bottom line measurement with quarterly reporting, at a minimum






6. Market competitive total compensation that aligns with the bank’s peer performance

7. Talent Management• Accelerate the “A” team• Retain and motivate the “B” team• Coach up or coach out the “C” team



8. Learning and Development

Know the difference!





Foundational “Big 4”!



3. Talent Management/Succession

4. Total Rewards – Comp and Benefits


Recruiting/Talent Acquisition

Shared Responsibility

To find qualified candidates for the job that are “fits” for the bank





Recruiting/Talent Acquisition

Shared Responsibility

To attract and select the most qualified and best fit for the job


Recruiting/Talent Acquisition: 9 Basics

1. Updated Job Descriptions(s)

2. Performance Standards• Transactions per hour

• New accounts opened per month

• Loan portfolio size / number of clients

• Deposit portfolio size / number of relationships






3. Talent Acquisition Pipeline

4. Job Posting Process / Policy

5. Standardized Recruiting / Sources

6. Employee Referral Process

7. Skilled Behavioral Interviewing



8. Centralized Job Offer Process with Background Checks

9. Onboarding





HR: Key Performance Criteria

• Time to hire

• Cost to hire

• Turnover within the first 180 days

• Turnover within the first 18 months


Recruiting and Hiring

ONBOARDING:

Have a plan!







2. Performance Management3. Talent Management and Succession



Performance Management Toolkit

• Performance Standards

• Current Job Descriptions

• Total Compensation

• Key Resources





Performance Management Loop

27

3. SALARY GRADE / RANGES

4. EMPLOYEEOBJECTIVES

6. SALARY REVIEW

5. PERFORMANCEREVIEW

1. JOBDESCRIPTION

2. JOBEVALUATION

KEYNon-Incumbent Specific

Incumbent Specific

Performance Evaluation

1. Formal system / timetable

2. Self‐appraisal

3. Objective criteria

4. Job description / goals

5. Closed‐door session





Performance Management Loop

29

3. SALARY GRADE / RANGES

4. EMPLOYEEOBJECTIVES

6. SALARY REVIEW

5. PERFORMANCEREVIEW

1. JOBDESCRIPTION

2. JOBEVALUATION

KEYNon-Incumbent Specific

Incumbent Specific




3. Talent Management/Succession






Learning and Development

Know the Difference!

• Training

• Employee Development

• Leadership Development


Developing the Training Plan

ASSESSMENT PROCESS

• Linkage with annual performance review

• Short‐term training needs

• Skills and competencies

• Longer term career goals

KEY: Management / Supervisory Accountability





Training Priorities and Budget

• 80 / 20 Rule: Highest Potential

• Development plans

• Product Training

• Sales Leadership / Sales Training

• Customer Service Training

• Technology Training

• Compliance Training

• Knowledge of the Organization, Values and Culture


Development Priorities and Budget

• Tuition Reimbursement Policy

• Supervisory / Management Skills

• Leadership Skills

• Career Development

–Coaching–Mentoring

–Talent Assessment








3. Talent Management and Succession



Total Compensation: 7 Components

1. Base Salary

2. Incentive Compensation (variable)

3. Benefits (both hard / soft)

4. Perks





Total Compensation: 7 Components

5. Executive (BOLI, deferred comp)

6. Equity Stake (real or phantom)

7. Non‐financial–Flex time–Virtual office


Benefits: Key Part of Package

• Welfare Benefits vs. Retirement Benefits

• Annual Disclosure

• Salary / Benefits as % of Average Assets (UBPR)

• Average Personnel Expense per Employee

• Total Package: 35–40% of Base Salary– 25%: Hard costs– 10–15%: Soft costs





Human Resource Checks and Balances

• Turnover Rates

• Exit Interviews / Stay Interviews

• Employee Opinion / Engagement Surveys

• Performance Reviews



• Overall Compa‐Ratio

• Out‐of‐Range Exceptions

• Succession Readiness

• Talent Assessment






• Staffing Practices and Policies

• Wellness Awareness

• Communication


HR Resources

• Human Resource Management School

• Strategic HR Forum

• SHRM Certifications (PHR, SPHR)

• CEBS: Certified Employee Benefit Specialist





Your Most Valuable Asset . . . Really?

YES!

People


Terry SaberSaber Advisory Group, LLC

[email protected]

612.202.6313

Questions?


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