Human Capital Management (HCM) Dan Deets SVP, HR Services Executive
Bank of America
For more than 200 years… Bank of America has been connecting people, companies and institutional investors
Bank of America
People 49MM consumer and small business relationships
5,151 banking centers
16,259 automated teller machines
Leading provider of mobile banking services with 14MM active users
No. 1 in online banking1; 30MM active accounts
1 Source: comScore, Q4-13 US Online Bank Benchmarker.
Bank of America
Companies One of the largest U.S. Commercial Banks and a Top 3
global player within Corporate and Investment Banking
Relationships with 83% of the 2013 Global Fortune 500 and 98% of the 2013 U.S. Fortune 1,000
Bank of America
Institutional Investors Unparalleled coverage with nearly 700 analysts covering
3,400+ companies, 1,000+ corporate bond issuers across 60 countries and 25 industries
Bank of America
Results Operating Principles
Strategy Purpose
Bank of America
Integrated Strategy: Purpose
To help make financial lives better, through the power of every connection “
“
Bank of America
Integrated Strategy
To serve the core financial needs of people, companies and institutional investors, by connecting our capabilities across the company
“ “
Bank of America
Integrated Strategy: Operating Principles
Customer-driven Great place to work Manage risk
Manage efficiency Deliver for shareholders
Bank of America
Integrated Strategy: Results
Record capital and liquidity levels Business performance showing solid
client activity Expense initiatives on track to achieve
cost saving targets Net charge-offs approaching record lows Continued progress on legacy issues
HCM Overview
Research job opportunities
Apply and interview
Navigate career
Manage performance
Receive & accept offer
Onboard
Learn & grow Manage time
Receive pay & rewards
Retire or separate
HCM Overview:
HCM Commitments
In everything we do, we’re committed to better, one connection at a time through: Make interactions easier Make expertise more accessible Make relationships more human Success that is shared
HCM Best Practices
Culture
Strategy
Approach
Leadership
Governance
HCM Best Practices: Strategy
Ensure alignment to business strategy Think from the “outside-in” Provide signature experiences that matter Outsource transactional support and
simple service Advocate for the use of technology –
it’s effective and efficient
HCM Best Practices: Leadership
Be inclusive and involve stakeholders early Establish guiding principles and trust your
teammates Communicate “what you know, when you
know it” – consistently Manage risk, don’t avoid it Use facts and data to guide decisions Encourage and reward informed debate
HCM Best Practices: Approach
Define and maintain a 3-5 year view of projects and corresponding outcomes
Choose the right project management methodology to match complexity
Use the employee experience as a change management tool
Maintain priorities – risk, quality, speed, cost Focus on workforce readiness and adoption
HCM Best Practices:
Governance
Establish shared goals for all those involved in delivery and transformation
Cover people, process and technology change Have a well defined escalation path Control scope, resources and timeline Hold senior leaders accountable for
participating and being supportive publicly
HCM Best Practices: Culture and Core Values
Deliver together, Act responsibly, Realize the power of our people, Trust the team “ “
HCM Best Practices:
Culture and the Human
Approach
Keep it simple, be transparent, show empathy, demonstrate caring “ “
Bank of America
HCM To-Do List
10. Think from the employee point of view 9. Choose the right set of advisors and business partners 8. Attract and retain the right team members –
optimize mobility and turnover 7. Manage the workforce spectrum –
full-time, part-time and contingent 6. Embrace the use of technology / social media 5. Move from administration to consultation –
on talent and performance 4. Keep stakeholder buy-in and momentum over
an extended period of time 3. Meet complex regulatory requirements in
geographies / jurisdictions 2. Ensure business leaders and employees are
well prepared for change 1. Stay in touch with employee expectations
Thank you
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