价值为基础的管理.ppt

ValueBasedManagementHewittAssociatesAugust2001,CreatingShareholderValueisGainingImportanceDuetoaVarietyofFactors,Regional/CapitalMarketsPerspective,GreaterFocusonShareholderValue,IntegrationofOrganizationalStructures,Deregulation,Privatization,IntegrationofCapitalMarkets,WTO,CapitalMarketInvestmentObjectives,MergersandAcquisitions,Globalization,CorporateSpecific/TopManagementPerspective,Traditionalaccountingmeasuresarenotreliablylinkedtoshareholdervalue,Growingrecognitionoftheneedtoalignmanagementactionsandrewardstolong-termvaluecreation,Increasingpublicityofshareholdervaluecreationrankings(e.g.,FT.Fortune),Possibilityoftakeoverbyinvestorsseeking“under”managedassets,“Buyin”byCorporateleaders,WhatisValueBasedManagement?,AconsistentframeworkthatalignsmanagementactionandstrategicobjectiveswithshareholdervaluecreationTheprimarygoalofvaluebasedmanagementistobuildacorporatemindsetinwhichmanagementdecisionmakingandexecutionarefocusedonthecreationofshareholdervalue,HRAlignmentFacilitatestheSuccessofVBMImplementation,16.6%,6.7%,8.6%,7.1%,10.0%,3.0%,0%,2%,4%,6%,8%,10%,12%,14%,16%,18%,5-yearAverage%,TSR,CFROI,SalesGrowth,CompaniesalignedtoVBMobjectives,Companiesnotaligned,VBMmeasuresusedforplanningandcompensationVBMgoalsettingPerformancesystemTrainingBusinessunitandcorporateincentives,EmpiricalResultsShowaLinkBetweenOrganizationalImplementationandValueCreation,Companieswithbusinessunitspecificlong-termincentivestiedtoshareholdervaluecreationoutperformcompanieswithouttheseincentives,CompanieswithCorporateandBusinessunitincentives,CompanieswithsolelyCorporateVBMincentives,3-yearTSR%,23.3,20.5,22.8,25.5,22.5,25.4,20,21,22,23,24,25,26,1997-2000,1994-97,1991-94,Value-CreatingBehaviors,Priorities,Decisions,andMeasurement,LinkingHRtoVBM,VBM-AlignedManagementProcesses,CorporateStructureAlignment,CorporateCultureVBM-Alignment,DesiredValue-CreatingBehaviorsandCompetencies,EmploymentRelationship,PersonalNeeds,Goals,andStrategies,IndividualPrioritiesandSkills,HRPoliciesandManagement,PersonalVision,Organization,PeopleRequirements,“Ownership”Culture,Decision-makingPrioritiesReports,AnHRPerspectiveonValueManagement,InvestorScorecardTotalShareholderReturn(TSR)MarketValueAdded(MVA),ManagementTrackRecordGrowth/ReturnProfileBusinessStrategyInvestmentsinFutureGrowthEconomicValueImprovementIntellectualCapital,InvestorExpectationsoffutureearningsrecognizedasaleadingemployerGlobalrevenueofmorethanUS$1.3billioninFY2000Amongthetop20globalmanagementconsultingfirmsInthetop200ofForbesmagazines“Top500PrivateCompanies”“Wrotethebook”onworkforcemanagement,TheTalentSolution:AligningStrategyandPeopletoAchieveExtraordinaryResults.Leadingexecutivecompensationconsultingfirm,Percentof“Fortune500”CompaniesUsingHewittsExecutiveCompensationConsultingServices,OurTimeLine,LinkingVBMtoCompensation:OurExperience,ExperienceinDevelopingGlobalHumanResourceApplicationsExpertiseinTotalCompensationIntegratingShareholderValueCreationApproachesKnowledgeofEmployeeEngagementandEmployerofChoiceProgramsUtilizationofToolsandTechnologyInDeliveringtheNewPrograms,RecognizedleaderindevelopingandimplementingglobalHumanResourcesolutions.Withover80officesin37countriesaroundtheworldweareveryfamiliarwiththeculturalandlegaldifferencesinvariouscountries.Weunderstandhowtotakeglobalprogramsandmakethemeffectiveacrossborders.Vastexperienceovertheyearstointheareasoftotalcompensation,performancemanagementsystems,talentmanagementdevelopmentsolutions,valuescorecardsandcommunicationofglobalstrategies.PreferredpartnerofTheECONOMISTIntelligenceUnitinconductingthe1998studyBuildingandretainingglobaltalenttowards2002.,OurStanding,ExperienceinDevelopingGlobalHumanResourceApplicationsExpertiseinTotalCompensationIntegratingShareholderValueCreationApproachesKnowledgeofEmployeeEngagementandEmployerofChoiceProgramsUtilizationofToolsandTechnologyInDeliveringtheNewPrograms,WeunderstandhowvariouselementsofcompensationfittogethertosupportbusinessobjectivesExpertiseinallareasofcompensation,includingdirectpay,short&longtermincentives,salescompensation,ITcompensation,ownershipprograms(e.g.stockoptionandstockpurchaseplans),andexecutivecompensation.Thelargestdatabasesonexecutiveandmanagercompensation(TotalCompensationMeasurement-TCM)andvariablecompensation(VariableCompensationMeasurement-VCM)programsinexistence.,OurStanding,ExperienceinDevelopingGlobalHumanResourceApplicationsExpertiseinTotalCompensationIntegratingShareholderValueCreationApproachesKnowledgeofEmployeeEngagementandEmployerofChoiceProgramsUtilizationofToolsandTechnologyInDeliveringtheNewPrograms,Deepexpertiseinhelpingcompaniesthinkthroughanddesigncompensationprogramstomaximizeshareholdervalue.Understandingofmeaningfulmeasures,andtheirreinforcementthroughperformancemanagement,communicationandcompensationfromourexperiencewithglobalorganizationslikeHalliburton,Whirlpool,Cargill,GATX,andRhne-PoulencRorerInc.Verticallylinkedourengagementmodeltoshareholdervaluecreationtoofferanall-employeebusinesseducationcourseentitled“CreatingValue:WorkingtoWin,”whichreflectsvaluebasedmanagementconcepts.,OurStanding,ExperienceinDevelopingGlobalHumanResourceApplicationsExpertiseinTotalCompensationIntegratingShareholderValueCreationApproachesKnowledgeofEmployeeEngagementandEmployerofChoiceProgramsUtilizationofToolsandTechnologyInDeliveringtheNewPrograms,GoodunderstandingofwhatittakestobeanEmployerofChoicefromourworkwith:FortuneMagazines“100BestCompaniestoWorkforinAmerica”OngoingAsianWallStreetJournals“BestEmployersinAsia”BestEmployerStudiesinIndia,Australia,Brazil&CanadaFirsthandknowledgeofhowcompanieshaveapproachedtotalcompensation,performancemanagement,andbusinessobjectivemeasurement,aswellastheadvantagestheyenjoyinretention,attractingtalent,andstockappreciation.,OurStanding,ExperienceinDevelopingGlobalHumanResourceApplicationsExpertiseinTotalCompensationIntegratingShareholderValueCreationApproachesKnowledgeofEmployeeEngagementandEmployerofChoiceProgramsUtilizationofToolsandTechnologyInDeliveringtheNewPrograms,Ownanumberofdevelopment,benchmarking,measurementandadministrationtoolsthatcansupportthedevelopmentofnewcompensationandperformancemeasurementprograms,andaugmenttheeffectivenessofexistingprograms.,OurStanding,ATypicalEngagement,NPV($MM),FinancialModelingAbsoluteComponentsofValue,BusinessMonitoringScorecard,Valuedriversgroundedinbusinessunitstrategy,andrefinedandboughtintothroughdiscussion.,toarriveatasetthatthebusinessunitbelievestrulyrepresentsitsstrategy.,FacilitatedDiscussion,PVM*ConsultantParticipation,CustomizedPeopleInitiatives,IncentiveprogramsSpecificationofannualperformancemetricsandtargetsPerformancemanagementLeadershiptrainingTalentmanagementEmployeetrainingandcommunicationsEngagementsurveyOther,BusinessStrategyFormulation,CorporateandBusinessUnitstrategyandgoalsLongtermplanningandfinancialforecast,*PeopleValueManagement,LeadingTrendsinValueBasedCompensation,Whatis“StateoftheArt”?.itisinthe“eyeofthebeholder”theobjectivesareold,butdeliverymethodsarenewalignmentwithshareholderinterestsenablingbusinessstrategyunderstandingshorttermtradeoffsfromavalueperspectiveincorporatingleadindicatorsofvalueincompensationdesignteambasedpayindustryspecificcustomizationNewerdevelopmentsgobeyondcompensationtointegrateallHRprogramsonacommonvalueplatform,LeadingTrendsinValueBasedCompensation,GettingabettergriponthebehavioralaspectsofperformancemeasurementandincentivedesignW.W.GraingerexperiencewithEVAincentivesHalliburtonsCVAplanAnticipatingunintendedbehavioralc