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Transcript of 1 September 6, 2007 Pension Corporation CEO Gail Stephens Transforming an Organization for Service...
1
September 6, 2007
Pension Corporation CEO Gail Stephens
Transforming an Organization for Service Excellence
2
The Pension Corporation• One of the largest pension
administrators in Canada• Annual contributions = $1.8 billion• Financial reporting of pension plan
assets = $46 billion• 120,000 retirees; 240,000 active
members and 700 employers
3
Backlogs and Other Challenges
• Became a Crown Agency in 2000• Under funded and understaffed• Unhappy clients• Unhappy staff• Increasing volumes with baby
boomers retiring
4
Creating a Vision • Engage from the inside out• Engage employees, plan boards and
board of directors • Create a vision that everyone can
rally around• Post that vision everywhere
6
Strategic PlanningWe used the Balanced Scorecard
approach to improve our:1. Client Services2. Finances3. Internal Business Processes 4. Learning and Growth Opportunities
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1. Improving Client Services• Getting rid of the backlog• Improving day-to-day service• Streamlining, simplifying and
demystifying processes, products and communications
• Setting service targets
8
2. Improving Finances• $12-million in reductions• Cost per member - from $114 to $101• Training has positive impact on bottom
line• National and international benchmarking• Risk Management• Quality Assurance
9
3. Improving Internal Business Processes
• Developed a strategic plan, branch plans and personal business plans
• Five-year service agreements• Improved communications,
leveraged technology, retirement seminars
10
Dashboard Approach
Service Demand
17,166
13,200
0
5,000
10,000
15,000
130%
FINAL PENSION OPTIONS
Service Results
94.3%
90%
5.3%
0.4%
0% 20% 40% 60% 80% 100%
On Time Target
Results
CLIENT SERVICES
Met target, with demand
30% more than expected
On time = 21 days22-42 days (within 100% standard)43+ days overdue (did not meet 100% standard)
Annual ForecastActual for 12 Months
FINAL RESULTS FOR THE
11
3. Improving Internal Business Processes (continued)
• Simplify, streamline and improve business processes
• Communications standards• Re-designed our corporate website• Self service online
12
4. Improving Learning and Growth Opportunities
• HR was a top priority • Adding more management positions• Investing in training• Succession planning• Recognizing employees
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Leadership is Visible• Annual branch visits• Regular CEO breakfasts and lunches• Meet every new employee• Employee satisfaction surveys• Online employee newsletter• Lead and communicate from your
heart
14
Change over time
15
Retention and Attraction• Succession Planning
– Job shadowing– Temporary assignments– Assistant Director positions– Screen applicants – Management coaching– Leadership training
18
Results Achieved• 95% of recently retired members• 87% of longer-term retired members• 95% of plan employers• 85 % of active members• 100% of trustees
19
Results Achieved
A. Final Pension Option Targets
30
21
14 14
303030
85%90%
95% 95%
80%
75%70%
0
7
14
21
28
35
2001/02 2002/03 2003/04 2004/05 2005/06 2006/07 2007/08
On
Tim
e S
tan
dar
d i
n D
ays
0%
50%
100%
On
Tim
e % T
arget
20
Results AchievedB. Termination Information Letter Targets
2 2 2
30 30
2
95% 95% 95%90%
95% 95%
0
7
14
21
28
35
2002/03 2003/04 2004/05 2005/06 2006/07 2007/08
On
Tim
e S
tan
dard
in
Day
s
0%
50%
100%
On
Tim
e % T
arg
et
21
Results Achieved
C. Termination Option Targets
28
21 21
14
303030
95% 95% 95% 95%95%90%
70%
0
7
14
21
28
35
2001/02 2002/03 2003/04 2004/05 2005/06 2006/07 2007/08
On
Tim
e S
tan
dard
in
Days
0%
50%
100%
On
Tim
e %
Targ
et
22
Results Achieved
First Pension Payments
303030 30
30 30
98%
98%98%98%
98%95% 98%
97%
74%
99% 99%
97%
0
10
20
30
40
2001/02 2002/03 2003/04 2004/05 2005/06 2006/07
On
Tim
e S
tan
dar
d i
n D
ays
0%
50%
100%
On
Tim
e %
On time Standard in Days On time Target On time Results
23
Results Achieved
D. Purchase Cost Estimate Targets
30 30 30 21
180
6030
75%85% 85%
95%
60% 70% 70%
0
20
40
60
80
100
120
140
160
180
2001/02 2002/03 2003/04 2004/05 2005/06 2006/07 2007/08
On
Tim
e S
tan
da
rd in
Da
ys
0%
50%
100%
On
Tim
e %
Targ
et
24
The Future Challenges • Strong corporate branding and be a
great place to work• Employees = energized, effective and
proud• Exceptional Service• Succession planning, continuous
training and development requirements