Post on 20-Oct-2020
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2019 Conference on Enterprise Excellence
Developing a Baldrige Culture in a Challenging Environment
Presented byExecutive Director Brian Collins &
Deputy Executive Director Dan Duquette
Welcome!
• What Is IMRF?
• Our Journey of Excellence
• Our Baldrige Culture
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AGENDA
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What is IMRF?
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WE PROVIDE INCOME PROTECTION
DEATH DISABILITYRETIREMENT
What is IMRF?
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CREATED BY THE ILLINOIS GENERAL ASSEMBLY
Governed by the Illinois Pension CodeBegan operating in 1941§ In response to
economic conditions (Great Depression)§ Social Security was not
available to public employees§ Started with 5 employers
and $5,000 in assets
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What is IMRF?
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IMRF SERVES 3,010 UNITS OF GOVERNMENT
What is IMRF?
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IMRF’S MEMBERSHIP
TOTAL IMRF ACTIVE MEMBERS
TOTAL IMRF RETIREES AND BENEFICIARIES
TOTAL IMRF INACTIVE MEMBERS
TOTAL IMRF MEMBERSHIP
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What is IMRF?
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IMRF ASSETS
In 1941$5,000
$38.8BILLION
In 2018
What is IMRF?
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ONE OF 660+ PUBLIC PENSIONS IN ILLINOIS
5 State-funded pension systems6 Chicago-funded pension systems3 Cook County-funded pension systems
653 Local police & fire pension systems
IMRF§ Second-largest by Assets Under Management§ Largest by number of members§ Best Funded in Illinois
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Our Journey of Excellence
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THE ILLINOIS PUBLIC PENSION ENVIRONMENT
The challenges faced by other Illinois public pension systems creates a challenging environment for IMRF.
How do we respond?
Our Journey of Excellence
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OUR STRATEGIC RESPONSE
Established a distinct brand, and assumed a national public pension leadership role through our Journey of Excellence
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Our Journey of Excellence
Adopted a customer service-basedMission and Vision, supported by shared Values
Embedded a systematic process to achieve our Mission
Benchmarked to learn from other high performers, both within the pension industry, and outside of it
Identified best practices from other financial services organizations
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OUR TACTICAL RESPONSE
Our Journey of Excellence
Leveraging our Core Competencies§ Knowledge of the Pension Code§ Setting and collecting contributions
from local government§ Investment Management§ Maintaining our member database§ Deployment of secure IS systems§ Ongoing member and employer
communication and training
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OUR TACTICAL RESPONSE
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Our Journey of Excellence
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BALDRIGE = A FRAMEWORK TO EXECUTE OUR STRATEGIC AND TACTICAL GOALS
Why Baldrige?§ Proven framework§ In harmony with our
Mission, Vision, and Values
Our Journey of Excellence
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KEY TO OUR SUCCESS
It starts with the commitment of our Board of Trustees, Senior Leaders, and Staff to our Journey of Excellence as the means to achieve our Mission and Vision
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Our Baldrige Culture
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LEADERSHIP
Process: Leadership System
Sample Practices
§ Senior Leader Rounding§ Executive Director first day meet-and-greet§ Town Hall Meetings§ Communication Strategy§ Continuous Process Improvement
Our Baldrige Culture
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LEADERSHIP
WORKFORCE SURVEY
I understand the rationale behind most business decisions made by the senior leadership teamThe senior leadership team acts on employee feedbackI trust the members of the senior leadership team
Measured through
LEADERSHIP SYSTEM
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Our Baldrige Culture
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STRATEGY
Process: Triennial Strategic Planning Process (12 Steps)
Sample Practices:§ Balanced Leadership Scorecard that tracks metrics
aligned with 4 Key Result Areas (KRA’s)
§ Execute Action Plans to ensure that we are on track to achieve our strategic objectives
• Continuous Process Improvement
Our Baldrige Culture
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STRATEGY
Investment Returns
Funded Status
Customer Satisfaction
Net Promoter Score
Benchmarked Service Score
Cost per Member
Staff Turnover
Engagement Rank
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Our Baldrige Culture
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CUSTOMERS
Process: Voice of the Customer
Sample Practices:§ Surveying program§ Members and Employers§ Transactional and Ad hoc
§ VOC Gateway Committee
§ Continuous Process Improvement
Our Baldrige Culture
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CUSTOMERS
SATISFACTION SURVEY
Overall, how satisfied are you with ___ service?
How easy was the process?
ENGAGEMENT: NPS
How likely are you to promote IMRF as a great organization?
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Our Baldrige Culture
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MEASUREMENT, ANALYSIS, KNOWLEDGE MGT.
Process: Knowledge Management SystemSample Practices:
§ Standards for each department
§ Pension Code Online
§ IMRF.org
§ Prezi
§ Continuous Process Improvement
Our Baldrige Culture
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MEASUREMENT, ANALYSIS, KNOWLEDGE MGT.
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Our Baldrige Culture
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WORKFORCE
Process: Annual Employee Engagement Survey and Follow-up
Sample Practices:§ Department-specific Action Plans to drive improvement
§ Tactics driving reductions in first-year turnover
§ Continuous Process Improvement
Our Baldrige Culture
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WORKFORCE
Employee Empowerment Culture
Customer Focus
Learning & Development
Rewards & Recognition
Coworker Relationships
Department Relationships
Company Potential
Manager Relationships
Senior Management Relationships
10 Key Drivers of Engagement (set by McLean analysis):
MonitorChange
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Our Baldrige Culture
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OPERATIONS
Process: SIPOCSample Practices: § Vendor Management (Onboarding, Performance Surveys)
§ Continuous Process Improvement
Process: Innovation Management: Sample Practices: § Horizon
§ Continuous Process Improvement
Our Baldrige Culture
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OPERATIONS
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Our Baldrige Culture
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RESULTS
Results
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BALDRIGE CRITERIA KEY TO OUR SUCCESS
2009Bronze Award Commitment to Excellence
2012Silver Award Progress toward Excellence
2014Silver Award Progress toward Excellence
2017 Gold Award Achievement of Excellence
2018 Malcolm Baldrige National Quality Award Application and Site Visit
2019 and Beyond: Continuous Journey of Excellence
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Began in 2009 at a conference just like this
Took 3 months to develop our first application
The feedback hooked us
10 years, and many improvements later, we were awarded the gold
2018 Baldrige Application and Site Visit
2019 Baldrige Application
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BEGIN YOUR JOURNEY TODAY!