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Employee Benefits and Risk Management Discussion
ECS
Executive Committee ProposalSeptember 19, 2011
WFIS Diversity Committee
Inclusive Environment SubcommitteeJanet Aguilar, Janis Dunivan, Jack Gocke, Andrew Ko,
Final Presentation
Wells Fargo Insurance Services USA, Inc. 2
Roadmap for Discussion
Initiate Standard Career Pathing System Across WFIS1
Annual Team Building Exercise within Each WFIS Office2
Two Proposals
Discussion Roadmap
The Challenge of Inclusion
Proposed Solution
Current WFIS Situation
Roadmap for Implementation
Resources Needed
Expected Results
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Initiate Standard Career Pathing System Across WFIS1
Wells Fargo Insurance Services USA, Inc. 4
Initiate Standard Career Pathing System Across WFISThe Challenge of InclusionCentral to becoming one of the world’s truly great companies is our commitment to embrace and promote diversity and inclusion in all aspects of our business, which we believe is essential to engaging our team members, customers, communities and shareholders. One of our five strategies is creating an Inclusive Environment:
“Continue to support the culture of an inclusive environment where all team members can grow across all business lines and job levels”
Challenge Defined: Research from the Corporate Leadership Council1 shows that role clarity and achievable career development opportunities are the top two employee engagement drivers for all employees, and especially among employees from diverse backgrounds. Lower levels of engagement have adverse impacts on employees’ discretionary effort and intent to stay which in turn can drive down productivity.
If Wells Fargo Insurance Services’ “employee engagement capital” is driven most by an employee’s perception of future development (career) opportunity, then Wells Fargo can most effectively impact its diversity goals by focusing on role clarity and future opportunity.
1, 2 “Building Engagement Capital: Creating and Leveraging Sustainable Employee Engagement.” Corporate Leadership Council, Corporate Executive Board, 2011.
Top Engagement Drivers
1. Role Clarity
2. Career Management
3. Performance Management
4. Peer Networking
5. Compensation Rewards
6. Work Environment
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The Wells Fargo 2010 Gallup Engagement Poll corroborates these top
drivers. WFIS scored in the 24th percentile against
all companies in the Gallup survey and lower than WFC as a whole.
Highly Engaged Employees put Forth 57% more effort and are 87% less likely to turnover.
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Initiate Standard Career Pathing System Across WFISThe Challenge of InclusionIf Wells Fargo Insurance Services’ “employee engagement capital” is driven most by an employee’s perception of future development (career) opportunity, then Wells Fargo can most impact its diversity goals by focusing on delivering clarity in roles and opportunity in career paths.
Currently, WFIS relies formally only on the manager-employee relationship to drive engagement capital around role clarity and career development. In some instances there are informal approaches involving other agents.
WFIS can maximize engagement capital by aligning the right agents – the organization, teams, and managers- to the right drivers instead of focusing solely on the manager-employee experience which has limitations, and could especially impede diversity goals under certain circumstances.
3 “Building Engagement Capital: Creating and Leveraging Sustainable Employee Engagement.” Corporate Leadership Council, Corporate Executive Board, 2011.
Managers have greater impact on engagement capital than other agents in terms of present experiences. However, the promise of future development and career opportunity is what drives employee engagement and better diversity outcomes, and the organization itself is better positioned to drive that engagement capital than individual managers – although all three elements are important.
Creating an approach toward career development independent of individual managers helps achieve diversity goals by giving talent an additional channel for engagement and development opportunities.
This should not be misconstrued as suggesting that managers are not a key player in an employee’s future. The opposite is true. An enterprise wide approach enhances relationships by removing unnecessary variables and delivering a clear path for employee satisfaction.
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Initiate Standard Career Pathing System Across WFISProposed Solution: End State – What Might Career Pathing at WFIS Look Like?
Clarified RolesProvide employees with potential roles that are realistic AND actionable
Create Visibility into Roles Job Roles are clear and uniform within WFIS business models
Skills and performance requirements along with geographic-adjusted compensation are clear and uniform across the enterprise
AwarenessCreate enthusiasm and confidence around role-based opportunities
EnablementEnable employees to pursue open opportunities and training they need to advance their career goals
Drive Awareness, Enthusiasm and Confidence that Realistic Careers Are Obtainable Develop career path champions within the HR business partners and in local offices
Train all managers (team leaders through regional managing directors) on the system. Empower managers with the skills needed to have effective realistic discussions with employees
Build success stories through case studies that provide real examples of how other WFIS employees have achieved their career goals
Align Career Pathing with the annual performance assessment process
Assure that Employees Are Independently Enabled Allow employees to be responsible pursue identified opportunities independently without relying on
managers to facilitate the process
Align the career pathing system to performance evaluation, mentoring programs, and other WFIS human capital management systems to assure multiple points of access
Provide employees with career pathing tools (website, planning guide, etc.) to understand the possibilities and the requirements needed to achieve their goals – setting realistic expectations
While independence is an essential element, performance in current role is a must and the assessment process necessarily involves manager-employee discussions
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“Passport for Development:” Career Pathing at WFIS allows employees and managers working through a methodical system to assess an employee’s current situation, performance, and aptitudes; assess realistic career aspirations and opportunities for development; and then set skill acquisition and education goals, time-lines, and a path forward.
Actionable Concept
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Initiate Standard Career Pathing System Across WFISCurrent WFIS Situation
“Job families” specific to WFIS have been created and are available for employee and managers on TeamWorks – includes job description, qualifications, and geo-specific compensation ranges.
“Leveling Guides” that provide progression from “account representative” through “account executive” for three job categories (commercial, benefits, and personal) have been created to date.
Role clarity seems to be underway, with mechanisms for standardized performance management.
WFIS seems to operate on three business models (or combinations thereof in the same offices) that present challenges to role clarification and standardized career pathing across the enterprise:
1. Broker Model: “account executives” report into a central local practice leader and each customer has a separate “client executive” or “sales executive” as the overall relationship manager;
2. Producer-Centric Model: where “account executives” are the sales executive;
3. Hybrid Model: separate “account executives” who work on a sales executive’s team, with no centralized practice leader.
Career paths appear in reality to be completely determined by the employee-manager relationship with all the accompanying variables that may or may not produce good diversity and productivity outcomes.
Wholesale Banking has developed a “Passport for Development” program which is a form of Career Pathing that helps employees assess their current situation, determine where they want to go, and then develop a realistic plan for skill acquisition and career development. This is a great start, could be co-opted, but we could add to it to drive more engagement of career pathing.
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Initiate Standard Career Pathing System Across WFISRoadmap for Implementation
1. Establish a development and implementation team composed of an executive sponsor, HR project leader, and project team. Set objectives, clarify mandate, finalize resources and time-line. Begin.
2. Validate the clarity of job roles found in the WFIS Job Family – providing job description, skill and proficiency requirements, and compensation ranges (completion for all categories not required for progress and launch)
3. Develop and validate “Job Leveling Guides” for each job in the Job Family (completion not required for progress and launch)
4. Align job roles, performance management system, compensation, and career pathing – how will they interact?
5. Complete the WFIS Career Pathing System that allows current career assessment, realistic future goal, and the pathway toward achieving it (skill development, proficiencies, etc.). Potentially harness the Wholesale Banking system called “Passport for Development” to expedite the fundamentals. Validate with WFIS executive leadership, gain broad support, and launch the initiative.
6. Pilot WFIS Career Pathing with one or two categories (recommend commercial account executive and sales executive) in one or two regions.
Key Elements of WFIS Career Pathing:
CEO and Executive Committee backing
Employee self-initiation and management HR champions and independence of the system from individual managers
Standardized enterprise-wide system for capturing and tracking career pathing per employee
Manager training and buy-in (line-managers to RMDs)
Success case studies and communication
Annual employee engagement survey should capture the results of this initiative
August 1
October 1
November 1
December 1
January 1
February 1
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Initiate Standard Career Pathing System Across WFISResources Needed
Most of the WFIS Career Pathing initiative involves “soft costs” and can be absorbed within current human capital allocations and adapted into current IT systems.
T&E may be required for at least one team session: $3-$5k
Human capital requirements (can be done within the current HR team resources)
Executive Sponsor (direction and advocacy)
HR Project Leader (full time – half year)
HR Project Team (two part-time consultants – half year)
WFIS Career Pathing Team from other disciplines – probably six meetings plus project time
WFIS Executive Diversity Champion review and support
WFIS Communications support (case studies, Career Pathing tool kits, website development)
WFIS Training and Education Resources
IT support – integration with HRIS / Performance Management
Corporate employment and labor law counsel review
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Initiate Standard Career Pathing System Across WFISExpected Results
1. Role clarity and realizable career paths at WFIS will build a more engaged, resilient and diverse workforce driven by transparency, meritocracy and trust for a better future.
2. Higher levels of employee engagement result in better diversity outcomes, improved discretionary effort, and increased employee retention. Engaged employees also improve recruiting results across diverse employee segments.
3. The end results are more satisfied employees, greater productivity, and happier customers.
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Annual Team Building Exercise within Each WFIS Office2
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Initiate Team Building within Each WFIS OfficeThe Challenge of InclusionCentral to becoming one of the world’s truly great companies is our commitment to embrace and promote diversity and inclusion in all aspects of our business, which we believe is essential to engaging our team members, customers, communities and shareholders. One of our five strategies is creating an Inclusive Environment:
“Continue to support the culture of an inclusive environment where all team members can grow across all business lines and job levels”
Challenge Defined: Whether each Managing Director-led office (the core business unit of WFIS) has an inclusive environment is unknown and probably highly variable. Other than relying upon individual team members, managers, and Managing Directors to do their best to uphold the WFC diversity and ethics code, there are no formal channels for promoting diversity within individual offices. Two important drivers of diversity are inclusion and open communication. Team building supports inclusion and open communication.
Methodically promoting team building supports WFIS’ diversity goals.
I feel like my colleagues are in cliques that I can never break – they see me as different, don’t even know me, and so why would they trust or
help me?
As the Managing Director, I want to promote an inclusive environment because I realize that improved communication and trust –which
drive employee engagement- is the linchpin of our success
I would like to know my colleagues better, increase my network to see if
I have new opportunities to grow, but I never communicate with
anyone outside of my business unit
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Initiate Team Building within Each WFIS OfficeThe Proposed Solution
“Continue to support the culture of an inclusive environment where all team members can grow across all business lines and job levels”
WFIS to develop and launch annual team building exercises in each and every WFIS office to enhance networking, communication and trust among all team members, furthering our diversity strategy and enhancing office performance.
Team members who are better networked, communicate and trust each other help develop each other, are more likely to include their peers in relevant business discussions, and thereby enhance engagement within the office.
100% office participation is the objective – each office and within each office.
Each office has discretion as to the exact nature of their team building exercise. WFIS provides the parameters and goals, each office colors-in the lines for its best results.
The activity should aim to maximize inclusive participation.
Elements of the Annual WFIS Office Team Building Day
The Why
The purpose of the event is to promote a friendly, inclusive and open office culture.
To cultivate leadership abilities in our staff and build a team driven office culture through solidarity.
The Who
Each MD initiates an annual team building event that is inclusive of all team members.
All the office leaders participate and that junior or otherwise non-leaders are encouraged to lead various segments of the day.
The What
Team building events could include “ropes courses,” off-sites, philanthropic volunteer days, and could easily align with WF Foundation or Bank community activities which are usually already well-funded and could create other alignment opportunities
The When
To Be Determined
The How
Toolkit providing a formula for success
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Initiate Team Building within Each WFIS OfficeThe Proposed Solution
Events should be structured around the goals of enhancing diversity awareness, make new connections among team members and engage in activities, discussions and events to explore diversity in new ways.
The highlights of each regional office’s Team Building event will be presented for all to read at the end of the campaign in a End of Year Summit. How the team came together, what made them successful, and who stepped up and made a difference would be included.
All regional offices will be able to see what events other regional offices did all over the country. This will create excitement among the offices and encourage participation with the team members. This also will reinforce the “ One Wells Fargo” theme and stimulate the inclusive environment we hope to promote.
Elements of the Annual WFIS Office Team Building Day
Toolkit Providing a Formula for Success – The How
MD accesses a letter / tool kit to be sent from the corporate level that prescribes general objectives, suggests approaches, and requires reporting results back through RMDs.
The tool kit would include communications for employees, suggestions as to the types of team building exercises and budget circumstances.
Contact information of office resources for support and/or information.
Branding through Corporate Communications
Printing resources through Wholesale
Checklist of desired objectives.
Form diverse teams to accomplish a common goal.
Eliminate cliques
Network with other team members
Team members take on leadership roles
MD should appoint someone to chronicle the event.
Take photos of the team in action and the group.
Conduct interviews with the team members for input on what they liked.
Measure the Results
The forming of diverse teams, leadership development, objectives met.
What were the highlights of the day?
Reporting the Results
Each MD reports to RMD the results of the event
Team champions can be acknowledged for their outstanding performance
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Initiate Team Building within Each WFIS OfficeCurrent WFIS Situation
Hypothesis: few offices engage in team building exercises or do so with productivity and diversity goals in mind.
The current culture and management performance metrics may not support this initiative.
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Initiate Team Building within Each WFIS OfficeRoadmap for Implementation
1. Establish a development and implementation team composed of an executive sponsor, HR project leader, and project team. Set objectives, clarify mandate, finalize resources and time-line. Begin.
2. Develop the performance and reporting metrics to be achieved and how the data will be collected.
3. Scope-out examples of success – build a series of case study communications for the MD and the team members in each office.
4. Create a tool kit for each MD that includes objectives, a “how-to” formula, ideas for exercises, team member communications materials, and a reporting and survey mechanisms.
5. Launch pilot program in one RMD region, review results, fine-tune, then initiate throughout the enterprise.
Key Elements of Team Building Success:
Team building events require 100% participation and working toward a common goal.
Results should be reported to RMDs directly through the MD and independent survey of team members involved.
Data collected should be actionable by the MD (data suggests to improve engagement, office morale issues, etc.).
Communications to create buy-in and enthusiasm a must – branding critical.
Senior executive must take personal interest and ownership to encourage participation.
An end-of-year annual report providing a glimpse into successes will be used to create enthusiasm, lending to “One Wells Fargo.”
August 1
September 1
October 1
December 1
February 1
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Initiate Team Building within Each WFIS OfficeResources Needed
From a Corporate center perspective, developing and launching the initiative involves “soft costs” and can be absorbed within current human capital allocations and adapted into current IT systems.
Human capital requirements:
Executive Sponsor (direction and advocacy)
HR Project Leader (two full-time months)
HR Project Manager (two full-time months)
WFIS Project Team – multidisciplinary (six planning conference calls)
WFIS Executive Diversity Champion review and support
WFIS Communications support (case studies, tool kits, website development, annual report)
WFIS Training and Education Resources for MDs and Managers
IT support – integration into TeamWorks etc.
Corporate employment and labor law counsel review
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Initiate Team Building within Each WFIS OfficeExpected Results
1. Improved inclusion, communication and trust that results in greater opportunities, enhanced diversity objective outcomes, and greater productivity
2. Enhanced morale and cohesion within offices and nation-wide: “One Wells Fargo”
3. Better integration, awareness, and alignment with our other Wells Fargo partners (bank, wealth, etc.)
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Thank you. Questions?
