effective people-and-productivity-management
TRANSCRIPT
![Page 1: Effective people-and-productivity-management](https://reader035.vdocuments.mx/reader035/viewer/2022062703/55542c80b4c905987e8b5013/html5/thumbnails/1.jpg)
Effective people and productivity management
Peter Scott
Peter Scott Consulting
![Page 2: Effective people-and-productivity-management](https://reader035.vdocuments.mx/reader035/viewer/2022062703/55542c80b4c905987e8b5013/html5/thumbnails/2.jpg)
Effective people and productivity management
• Measuring the financial value of human capital
• Making best use of your people to increase profitability
• Partners and profitability
![Page 3: Effective people-and-productivity-management](https://reader035.vdocuments.mx/reader035/viewer/2022062703/55542c80b4c905987e8b5013/html5/thumbnails/3.jpg)
Measuring the financial value of human capital
![Page 4: Effective people-and-productivity-management](https://reader035.vdocuments.mx/reader035/viewer/2022062703/55542c80b4c905987e8b5013/html5/thumbnails/4.jpg)
Is your business leaking money like a sieve?
![Page 5: Effective people-and-productivity-management](https://reader035.vdocuments.mx/reader035/viewer/2022062703/55542c80b4c905987e8b5013/html5/thumbnails/5.jpg)
Leaking like a sieve?
because you do not have the
right…..
![Page 6: Effective people-and-productivity-management](https://reader035.vdocuments.mx/reader035/viewer/2022062703/55542c80b4c905987e8b5013/html5/thumbnails/6.jpg)
….leadership and influencing skills to get the best out of your
people?
![Page 7: Effective people-and-productivity-management](https://reader035.vdocuments.mx/reader035/viewer/2022062703/55542c80b4c905987e8b5013/html5/thumbnails/7.jpg)
Is this you?Is this you?
![Page 8: Effective people-and-productivity-management](https://reader035.vdocuments.mx/reader035/viewer/2022062703/55542c80b4c905987e8b5013/html5/thumbnails/8.jpg)
….people environment to make your business a real success?
![Page 9: Effective people-and-productivity-management](https://reader035.vdocuments.mx/reader035/viewer/2022062703/55542c80b4c905987e8b5013/html5/thumbnails/9.jpg)
Are we all going in the same direction?
![Page 10: Effective people-and-productivity-management](https://reader035.vdocuments.mx/reader035/viewer/2022062703/55542c80b4c905987e8b5013/html5/thumbnails/10.jpg)
….mechanisms to prevent the attrition of high quality
performers?
![Page 11: Effective people-and-productivity-management](https://reader035.vdocuments.mx/reader035/viewer/2022062703/55542c80b4c905987e8b5013/html5/thumbnails/11.jpg)
This will happen to your talent unless…
This will happen to your talent unless…
TALENT€
![Page 12: Effective people-and-productivity-management](https://reader035.vdocuments.mx/reader035/viewer/2022062703/55542c80b4c905987e8b5013/html5/thumbnails/12.jpg)
….systems to manage relationship conflict?
![Page 13: Effective people-and-productivity-management](https://reader035.vdocuments.mx/reader035/viewer/2022062703/55542c80b4c905987e8b5013/html5/thumbnails/13.jpg)
“Heavyweight gorilla”
“You can’t manage me.
I’m a big biller!”
![Page 14: Effective people-and-productivity-management](https://reader035.vdocuments.mx/reader035/viewer/2022062703/55542c80b4c905987e8b5013/html5/thumbnails/14.jpg)
….systems to manage the people risks in your business?
![Page 15: Effective people-and-productivity-management](https://reader035.vdocuments.mx/reader035/viewer/2022062703/55542c80b4c905987e8b5013/html5/thumbnails/15.jpg)
Law Firm Risks
Peop
le
Op
eration
alRegulatory
IT
Co
mp
etit
ion
/bu
sin
ess
Eco
no
mic
,p
olit
ical
,fi
scal
Financial
Asset
Reputational
Management
![Page 16: Effective people-and-productivity-management](https://reader035.vdocuments.mx/reader035/viewer/2022062703/55542c80b4c905987e8b5013/html5/thumbnails/16.jpg)
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
![Page 17: Effective people-and-productivity-management](https://reader035.vdocuments.mx/reader035/viewer/2022062703/55542c80b4c905987e8b5013/html5/thumbnails/17.jpg)
….culture to support high performance levels?
![Page 18: Effective people-and-productivity-management](https://reader035.vdocuments.mx/reader035/viewer/2022062703/55542c80b4c905987e8b5013/html5/thumbnails/18.jpg)
Values
Skills & Behaviours
Performance Metrics – Qual/Quant
Performance Review
Closing the Performance Gap
Learning & Development Strategy
Building a performance culture
![Page 19: Effective people-and-productivity-management](https://reader035.vdocuments.mx/reader035/viewer/2022062703/55542c80b4c905987e8b5013/html5/thumbnails/19.jpg)
What is the real cost of replacing people?
![Page 20: Effective people-and-productivity-management](https://reader035.vdocuments.mx/reader035/viewer/2022062703/55542c80b4c905987e8b5013/html5/thumbnails/20.jpg)
The real cost of replacing people
• Disruption
• Recruitment fees
• Training of new recruits
• Effect on morale of people leaving
• Loss of relationships / clients
![Page 21: Effective people-and-productivity-management](https://reader035.vdocuments.mx/reader035/viewer/2022062703/55542c80b4c905987e8b5013/html5/thumbnails/21.jpg)
How to retain and get the best out of your people?
Help them maximise their full potential –
This requires investment in your people
![Page 22: Effective people-and-productivity-management](https://reader035.vdocuments.mx/reader035/viewer/2022062703/55542c80b4c905987e8b5013/html5/thumbnails/22.jpg)
Investment in your people?
For example
Who has a ‘New Partner Programme’ designed
- to bring people through to partnership?
- and which continues throughout partnership?
![Page 23: Effective people-and-productivity-management](https://reader035.vdocuments.mx/reader035/viewer/2022062703/55542c80b4c905987e8b5013/html5/thumbnails/23.jpg)
Investment in your people requires?
- Leadership and vision
- Values
- Training
- Mentoring
- Coaching
- Empowering
- Supporting
![Page 24: Effective people-and-productivity-management](https://reader035.vdocuments.mx/reader035/viewer/2022062703/55542c80b4c905987e8b5013/html5/thumbnails/24.jpg)
Are you investing sufficient in your people to realise their
financial value to your business?
![Page 25: Effective people-and-productivity-management](https://reader035.vdocuments.mx/reader035/viewer/2022062703/55542c80b4c905987e8b5013/html5/thumbnails/25.jpg)
Building profitability through people management
• Stop leaking money like a sieve!
• Building people performance
• Make best use of your people resource
![Page 26: Effective people-and-productivity-management](https://reader035.vdocuments.mx/reader035/viewer/2022062703/55542c80b4c905987e8b5013/html5/thumbnails/26.jpg)
To do this you will need a strategy
“Strategy is a realistic plan or course of
action to gain competitive advantage which
has clear and achievable objectives and
uses available resources”
![Page 27: Effective people-and-productivity-management](https://reader035.vdocuments.mx/reader035/viewer/2022062703/55542c80b4c905987e8b5013/html5/thumbnails/27.jpg)
Your greatest resource?
Your people
![Page 28: Effective people-and-productivity-management](https://reader035.vdocuments.mx/reader035/viewer/2022062703/55542c80b4c905987e8b5013/html5/thumbnails/28.jpg)
Values
Skills & Behaviours
Performance Metrics – Qual/Quant
Performance Review
Closing the Performance Gap
Learning & Development Strategy
Building people performance
![Page 29: Effective people-and-productivity-management](https://reader035.vdocuments.mx/reader035/viewer/2022062703/55542c80b4c905987e8b5013/html5/thumbnails/29.jpg)
What does it take to succeed at your firm?
• What do you value?
• Do you invest in what you value?
• Do you reward what you value?
![Page 30: Effective people-and-productivity-management](https://reader035.vdocuments.mx/reader035/viewer/2022062703/55542c80b4c905987e8b5013/html5/thumbnails/30.jpg)
leverage delegation
An integrated strategy to best use your people resources
![Page 31: Effective people-and-productivity-management](https://reader035.vdocuments.mx/reader035/viewer/2022062703/55542c80b4c905987e8b5013/html5/thumbnails/31.jpg)
Delegation is key to profitability
• Be a better boss by doing less work!
• Match the level of work to the appropriate level of expertise / cost
• Sell at the right price!
= improved margin
![Page 32: Effective people-and-productivity-management](https://reader035.vdocuments.mx/reader035/viewer/2022062703/55542c80b4c905987e8b5013/html5/thumbnails/32.jpg)
Leverage - you need to be aiming for this
Equity partners
Other fee earners
![Page 33: Effective people-and-productivity-management](https://reader035.vdocuments.mx/reader035/viewer/2022062703/55542c80b4c905987e8b5013/html5/thumbnails/33.jpg)
Not this
Equity partners
Other fee earners
![Page 34: Effective people-and-productivity-management](https://reader035.vdocuments.mx/reader035/viewer/2022062703/55542c80b4c905987e8b5013/html5/thumbnails/34.jpg)
Leverage will differ from firm to firm
Will depend on:
• A firm’s work type / client type mix
• How a firm ‘adds value’ to its clients
![Page 35: Effective people-and-productivity-management](https://reader035.vdocuments.mx/reader035/viewer/2022062703/55542c80b4c905987e8b5013/html5/thumbnails/35.jpg)
You will add value if…
• You provide clients with what they want – and more
• At prices they perceive to be value for money; and
• You do this better than the competition
![Page 36: Effective people-and-productivity-management](https://reader035.vdocuments.mx/reader035/viewer/2022062703/55542c80b4c905987e8b5013/html5/thumbnails/36.jpg)
High Value – Added Services
• Focus on specific client types/work types• Seek leadership in a few, cohesive segments• Nurture wisdom/experience within the firm
High value- added services – strategic impact on client – generally wisdom/experience driven
![Page 37: Effective people-and-productivity-management](https://reader035.vdocuments.mx/reader035/viewer/2022062703/55542c80b4c905987e8b5013/html5/thumbnails/37.jpg)
Low Value – Added Services
• Value enhanced by–Driving down cost – ensure lowest cost–Investing in standardising processes–Facilitating implementation of solutions
Low value –added firms will compete on processes and price – technology driven services with minimum professional input
![Page 38: Effective people-and-productivity-management](https://reader035.vdocuments.mx/reader035/viewer/2022062703/55542c80b4c905987e8b5013/html5/thumbnails/38.jpg)
Low Value – Added Services
• To be successful firms need to
–constantly squeeze out more value for same cost
–Ensure financial strength to stay the course–Avoid creating the perception of reduced “quality”
![Page 39: Effective people-and-productivity-management](https://reader035.vdocuments.mx/reader035/viewer/2022062703/55542c80b4c905987e8b5013/html5/thumbnails/39.jpg)
But greater leverage requires more risk management
• Supervision
• Training
• Case management systems
• ‘Knowledge’ on part of management
![Page 40: Effective people-and-productivity-management](https://reader035.vdocuments.mx/reader035/viewer/2022062703/55542c80b4c905987e8b5013/html5/thumbnails/40.jpg)
And leverage and delegation involve teamworking
Why are teams important?
Together
Each
Achieves
More
![Page 41: Effective people-and-productivity-management](https://reader035.vdocuments.mx/reader035/viewer/2022062703/55542c80b4c905987e8b5013/html5/thumbnails/41.jpg)
Teams provide…
Support
Ability to delegate
Continuity of service delivery
Sense of purpose
Accountability / peer pressure
Esprit de corps
![Page 42: Effective people-and-productivity-management](https://reader035.vdocuments.mx/reader035/viewer/2022062703/55542c80b4c905987e8b5013/html5/thumbnails/42.jpg)
Are all your people ‘team players’?
![Page 43: Effective people-and-productivity-management](https://reader035.vdocuments.mx/reader035/viewer/2022062703/55542c80b4c905987e8b5013/html5/thumbnails/43.jpg)
How not to be a team player?
‘we have no room for those who put their personal agenda ahead of the interests of the clients or the office’
David Maister’s ‘Predictive package’
![Page 44: Effective people-and-productivity-management](https://reader035.vdocuments.mx/reader035/viewer/2022062703/55542c80b4c905987e8b5013/html5/thumbnails/44.jpg)
“Do own thing”
“That’s a great idea… …for the rest of you”
![Page 45: Effective people-and-productivity-management](https://reader035.vdocuments.mx/reader035/viewer/2022062703/55542c80b4c905987e8b5013/html5/thumbnails/45.jpg)
But people resources are scarce
• Cannot be all things to all men
• Need to build focus into your business
• Focus on
- work types
- client types
in order to gain competitive advantage
![Page 46: Effective people-and-productivity-management](https://reader035.vdocuments.mx/reader035/viewer/2022062703/55542c80b4c905987e8b5013/html5/thumbnails/46.jpg)
Balancing your profit and your partner numbers
![Page 47: Effective people-and-productivity-management](https://reader035.vdocuments.mx/reader035/viewer/2022062703/55542c80b4c905987e8b5013/html5/thumbnails/47.jpg)
How many equity partners should you have to maximise
profit?
Every firm is different – but factors to be
considered may include:
• Your work type / client type mix
• How a firm best adds value
• Ability to supervise and manage
• Culture of firm / financial ambitions
![Page 48: Effective people-and-productivity-management](https://reader035.vdocuments.mx/reader035/viewer/2022062703/55542c80b4c905987e8b5013/html5/thumbnails/48.jpg)
Your partners?
• Are you getting the best out of your partners?
• Who does NOT have an underperforming partner?
![Page 49: Effective people-and-productivity-management](https://reader035.vdocuments.mx/reader035/viewer/2022062703/55542c80b4c905987e8b5013/html5/thumbnails/49.jpg)
How much is partner underperformance costing you?
• Direct financial loss?
• Loss of good partners and staff?
• Loss of morale?
• Loss of relationships / clients?
![Page 50: Effective people-and-productivity-management](https://reader035.vdocuments.mx/reader035/viewer/2022062703/55542c80b4c905987e8b5013/html5/thumbnails/50.jpg)
What are you now going to do to stop your firm leaking money like a sieve?