Measuring Social Progress. Tony Keenan Chief Executive Officer Hanover Welfare Services.
Measuring the Value of Executive Development at The Home Depot · Measuring the Value of Executive...
27
TITLE YOU CAN DO IT WE CAN HELP YOU CAN DO IT WE CAN HELP YOU CAN DO IT . WE CAN HELP . YOU CAN DO IT . WE CAN HELP . Measuring the Value of Executive Development at The Home Depot at The Home Depot Jennifer Stanhouse Jennifer Stanhouse Manager of Executive Development Programs 1
Transcript of Measuring the Value of Executive Development at The Home Depot · Measuring the Value of Executive...
TITLEYOU CAN DO IT WE CAN HELPYOU CAN DO IT WE CAN HELPYOU CAN DO IT. WE CAN HELP.YOU CAN DO IT. WE CAN HELP.
Measuring the Value of
Executive Development at The Home Depotat The Home Depot
Jennifer StanhouseJennifer StanhouseManager of Executive Development Programs
1
TITLEYOU CAN DO IT WE CAN HELPYOU CAN DO IT WE CAN HELP
The ChallengeYOU CAN DO IT. WE CAN HELP.YOU CAN DO IT. WE CAN HELP.
$100B$100B
5 Years Achieving This Requires
$65B$65B
This Requires
CHANGECHANGE22 Years
CHANGECHANGE
2
TITLEYOU CAN DO IT WE CAN HELPYOU CAN DO IT WE CAN HELP
Growing LeadersYOU CAN DO IT. WE CAN HELP.YOU CAN DO IT. WE CAN HELP.
Leadership Development ProgramsBusiness Leadership Program (BLP)p g ( )
Merchandising Leadership Program (MLP)
Store Leadership Program (SLP)
L d hi D l t R t ti l P (LDR)Leadership Development Rotational Program (LDR)
Effective Leadership Will Be the Common Denominator in
3
Effective Leadership Will Be the Common Denominator in Home Depot’s Overall Performance...
TITLEYOU CAN DO IT WE CAN HELPYOU CAN DO IT WE CAN HELP
Assessing TalentYOU CAN DO IT. WE CAN HELP.YOU CAN DO IT. WE CAN HELP.
Agenda Schedule
High PotentialsOrganization Review Agenda Design to SSC and Divisions
Individual Career Planning / Discussions
Staffing/Retention
Diversity
Leadership Assessment
Team Assessment
Individual Career Planning / Discussions
Division HR Reviews
CEO HR Reviews
Company Wrap-Up
BOD R iLearning
Compliance
Succession Planning
Executive Pipeline
BOD Review
Nov. Dec. Jan. Mar. April May Oct.
Follow-up
Planning and Development Formats/ToolsOrganization Leadership Talent
DM’s and MerchantsJohn Doe 360 Leadership AssessmentMulti-Func 2000-01 Multi-Func 2000-01
Leadership360 AssessmentsStrengths / Development
Multi Func 2000 01
Multi-Func 2000-01High Potentials
Succession PlansHR AccomplishmentsHR Metrics
4
Strengths / Development Needs / ActionsPipeline and Diversity
Key CandidatesNext Generation LeadersBackupsReplacement Planning
Organization PlansHR Challenges
TITLEYOU CAN DO IT WE CAN HELPYOU CAN DO IT WE CAN HELP
Investing in the BestYOU CAN DO IT. WE CAN HELP.YOU CAN DO IT. WE CAN HELP.
“If I had a buck to spend ”If I had a buck to spend…
5
TITLEYOU CAN DO IT WE CAN HELPYOU CAN DO IT WE CAN HELP
The Accelerated Leadership ProgramYOU CAN DO IT. WE CAN HELP.YOU CAN DO IT. WE CAN HELP.
6
TITLEYOU CAN DO IT WE CAN HELPYOU CAN DO IT WE CAN HELP
Guiding FrameworkYOU CAN DO IT. WE CAN HELP.YOU CAN DO IT. WE CAN HELP.
ObjectiveAggressively accelerate leadership capability in future officer talentgg y y
Target AudienceHigh-potential Directors, DMs, GPMs, DSMs, DIMs, Subsidiary Vice Presidents
Critical ThemesUnderstanding the Business
Strategic ExecutionStrategic Execution
Operational Excellence
Effective Leadership
7
TITLEYOU CAN DO IT WE CAN HELPYOU CAN DO IT WE CAN HELP
Key Learning Components YOU CAN DO IT. WE CAN HELP.YOU CAN DO IT. WE CAN HELP.
AssessmentLeadership Development Assessment Center
Internal leadership assessors and feedback providersInternal leadership assessors and feedback providers
Opportunities for ongoing coaching
D lDevelopmentWorld class faculty broaden thinking
Bob and senior team highly engaged / visible
Team-teaching approach: External / Internal
Areas of focus: strategy, operations, leadership
Business Challenge projects
Business simulation
Development planning and follow up
8
TITLEYOU CAN DO IT WE CAN HELPYOU CAN DO IT WE CAN HELP
Program Design: Pre-workYOU CAN DO IT. WE CAN HELP.YOU CAN DO IT. WE CAN HELP.
PRE-WORKKi k ff M tiKickoff MeetingLeadership Component
360º
Birkman Profile
Leadership Development Assessment Center (LDAC)
Feedback sessions
Peer Feedback
e-LearningSelf-paced financial module
Pre-ReadingAssigned by external faculty
9
TITLEYOU CAN DO IT WE CAN HELPYOU CAN DO IT WE CAN HELP
Program Design: ContentYOU CAN DO IT. WE CAN HELP.YOU CAN DO IT. WE CAN HELP.
WEEK 1Understanding the Business and
WEEK 2Operational Excellence and Effective g
Strategic Execution
Major Topics:Leadership Assessment
pLeadership
Major Topics:MerchandisingLeadership Assessment
Strategy
Marketing
O ti
Merchandising
Supply Chain and Global Sourcing
LeadershipOperations
Corporate Valuation
Investor Expectations
Leadership
Talent Management
Leading Change
Business EthicsBusiness Ethics
10Business Simulation
TITLEYOU CAN DO IT WE CAN HELPYOU CAN DO IT WE CAN HELP
Program Design: Follow-upYOU CAN DO IT. WE CAN HELP.YOU CAN DO IT. WE CAN HELP.
POST CURRICULUM / FOLLOW UPWrap-up Leadership ComponentParticipant, Supervisor and HRVP meet to discuss the following:
Program experience
Lessons learned and takeaways
Future development focus
Crafting an Individual Development Plan (IDP)
11
TITLEYOU CAN DO IT WE CAN HELPYOU CAN DO IT WE CAN HELP
Expected Outcomes YOU CAN DO IT. WE CAN HELP.YOU CAN DO IT. WE CAN HELP.
Strengthen Leadership CompetenciesDelivers Results Acts StrategicallyDelivers Results Acts Strategically
Drives Excellence Excels in Customer Service
Lives Integrity Builds Relationships
Creates Inclusion Inspires AchievementCreates Inclusion Inspires Achievement
Reinforce Growth StrategyEnhance the Core
Extend the Business
Expand the Market
Create Competitive Advantagep gPlan for the Future
Execute our Strategy
Drive Transformational Change
12
Drive Transformational Change
TITLEYOU CAN DO IT WE CAN HELPYOU CAN DO IT WE CAN HELP
ROI: Measuring the Value of ALP YOU CAN DO IT. WE CAN HELP.YOU CAN DO IT. WE CAN HELP.
"This is a must for all talented leaders. This was the most comprehensive and effective learning/training class that I have been involved with in my entire career at Home Depot."
"What an unbelievable experience!!! Relationships have been forged that will last forever."forged that will last forever.
“I came to ALP to broaden my mind, thinking, business skills and leadership. It worked!”
“The program was nothing less than fantastic! It has provided me with clarity on Home Depot's strategy and concrete tools to accelerate achieving it.”g
“I believe this program has helped me be a much stronger leader for the organization. I will be able to make better financial decisions with more confidence and I believe I will do a far better
13
decisions with more confidence and I believe I will do a far better job of leading change.”
The Home Depot ROI Research Study
Peter Topping, Emory University Jennifer Stanhouse, The Home Depot
OProject Overview
Identification of appropriate and meaningful measures of ROI as related pp p gto executive development initiatives;Apply these measures to the Home Depot’s 2002 Accelerated Leadership ProgramsProvide The Home Depot with a substantive framework for on goingProvide The Home Depot with a substantive framework for on-going ROI analysis of the Accelerated Leadership Program;Share the findings on metrics within the executive education industry at the 2004 Spring UNICON conference and in a white paper format for
ti d l t f i l i t t d i ROI ( diexecutive development professionals interested in ROI (pending permission from The Home Depot)
Research Methodology
Quasi-experimental research designQuasi experimental research design
Experimental Group: All (remaining) ALP 2002 participants (‘n’= 55; two classes)Control group: officer candidates from HR Review process, identified for ALP future sessions (‘n’ = 33)Stratified random sample of ALP 2002 for more in-depth analysis (‘n’ = 12) 12)Will run ANOVA/ANCOVA analyses on data to test null hypothesis: “no significant differences between treatment and control groups”
CData Collection Methodology
Secondary data (experimental & control)Secondary data (experimental & control)
360-degree feedback pre/postPerformance review ratings pre/postPerformance review ratings pre/postPromotion & retentionInitial program evaluations (exp. only)Friday-Five’s results
CData Collection Methodology
Primary dataPrimary data
Survey of all ALP participantsInterview random sample (12)Interview random sample (12)Survey of sample population’s Managers/HR partnersOutcomes from business challenge projectsInterview selected senior executives
Key Financial Data Points
Cost per participant p p pCost to the Company for recruiting an Officer-level executiveCost to the Company for recruiting a Director-level managerRevenue growth from ALP experienceCost savings from ALP experience
SStaffing Resources
Goizueta Business School teamGoizueta Business School team
Peter Topping, Project managerLara Klondar, Assistant project managerLara Klondar, Assistant project managerResearch assistants
3 MBA students1 MEMBA student
SStaffing Resources
The Home Depot teamThe Home Depot team
Jennifer Stanhouse, Project leaderTim Crow, VP for Performance Systems, Project sponsorTim Crow, VP for Performance Systems, Project sponsorJennifer Williams, Director of Talent Management, Project supportDennis Donovan, EVP of Human Resources, Senior sponsorClerical support from administrative assistants
Preliminary Findings
360º degree pre/post data show nsd E=Cg p pPerformance review pre/post data show nsd (some negative results) C>ERetention data show nsd E=CP ti d t h E>C i ll ti t Offi l l (14 0)Promotion data show E>C, especially promotion to Officer level (14:0)ALP alumni very positive about the program and its impact on them and their work units
Preliminary Findings
Content that was most impactful to the participantsp p p
Strategy/strategic thinkingFinance (particularly analysts’ perspectives)Leadership
Program components most impactful to the participants
Network created within each classOpportunity to interact with senior executivesLearning about best practices/best current thinking from expertsLearning about best practices/best current thinking from experts
Preliminary Findings
Program components most impactful to the Company g p p p y
Business Challenge ProjectsNetwork established within the ALP classesStrategy & Finance contentStrategy & Finance contentMotivation to pursue next college degree by ALP participants (at their expense)
Preliminary Findings
Program outcomes most impactful to the participantsg p p p
New way of conceptualizing their businessNew way of conceptualizing their leadershipAbility to implement improved processes in work unitAbility to implement improved processes in work unitInspiration from enhancing revenue growth from improved business practicesMotivation/Desire to continue learninggPromotion/attention within the CompanyPowerful internal network
Preliminary Findings
Program outcomes most impactful to the Companyg p p y
Cost savings differential of promotion from within for OfficersRevenue growth from new business conceptsCost savings from improved processesCost savings from improved processesConfidence level raisedTurbo boost to key projects/challengesKey component in corporate transformation processKey component in corporate transformation process
SBalanced Scorecard Analysis
StrategicStrategic orientation
FinancialRevenue growth
Revenue growth/new businessCorporate transformation processImpact on senior executive team
Cost savings – operationsCost savings – recruiting/replacing
LeadershipPromotion/Retention
OperationalImproved business processes Promotion/Retention
360/performance appraisalsNetwork powerInterest in continuing education
Improved business processesWork unit level productivityLabor savings from network
