价值为基础的管理.PPT

1、Value Based Management Hewitt Associates August 2001,Creating Shareholder Value is Gaining Importance Due to a Variety of Factors,Regional/Capital Markets Perspective,Greater Focus on Shareholder Value,Integration of Organizational Structures,Deregulation,Privatization,Integration of Capital Markets

2、,WTO,Capital Market Investment Objectives,Mergers and Acquisitions,Globalization,Corporate Specific/TopManagement Perspective,Traditional accounting measures are not reliably linked to shareholder value,Growing recognition of the need to align management actions and rewards to long-term value creati

3、on,Increasing publicity of shareholder value creation rankings (e.g., FT. Fortune),Possibility of takeover by investors seeking “under” managed assets,“Buy in” by Corporate leaders,What is Value Based Management ?,A consistent framework that aligns management action and strategic objectives with sha

4、reholder value creation The primary goal of value based management is to build a corporate mindset in which management decision making and execution are focused on the creation of shareholder value,HR Alignment Facilitates the Success of VBM Implementation,16.6%,6.7%,8.6%,7.1%,10.0%,3.0%,0%,2%,4%,6%

5、,8%,10%,12%,14%,16%,18%,5-year Average %,TSR,CFROI,Sales Growth,Companies aligned to VBM objectives,Companies not aligned, VBM measures used for planning and compensation VBM goal setting Performance system Training Business unit and corporate incentives,Empirical Results Show a Link Between Organiz

6、ational Implementation and Value Creation,Companies with business unit specific long-term incentives tied to shareholder value creation outperform companies without these incentives,Companies with Corporateand Business unit incentives,Companies with solely Corporate VBM incentives,3-year TSR%,23.3,2

7、0.5,22.8,25.5,22.5,25.4,20,21,22,23,24,25,26,1997-2000,1994-97,1991-94,Value-Creating Behaviors, Priorities, Decisions, and Measurement,Linking HR to VBM,VBM-Aligned Management Processes,Corporate StructureAlignment,Corporate CultureVBM-Alignment,Desired Value-Creating Behaviors and Competencies,Emp

8、loyment Relationship,Personal Needs, Goals, and Strategies,Individual Priorities and Skills,HR Policies and Management,Personal Vision,Organization,People Requirements,“Ownership” Culture, Decision-making Priorities Reports,An HR Perspective on Value Management,Investor ScorecardTotal Shareholder Re

9、turn (TSR) Market Value Added (MVA),Management Track RecordGrowth / Return ProfileBusiness Strategy Investments in Future Growth Economic Value Improvement Intellectual Capital,Investor Expectations of future earnings recognized as a leading employer Global revenue of more than US$1.3 billion in FY

10、2000 Among the top 20 global management consulting firms In the top 200 of Forbes magazines “Top 500 Private Companies” “Wrote the book” on workforce management, The Talent Solution: Aligning Strategy and People to Achieve Extraordinary Results. Leading executive compensation consulting firm,Percent

11、 of “Fortune 500” Companies Using Hewitts Executive Compensation Consulting Services,Our Time Line,Linking VBM to Compensation: Our Experience,Experience in Developing Global Human Resource Applications Expertise in Total Compensation Integrating Shareholder Value Creation Approaches Knowledge of Em

12、ployee Engagement and Employer of Choice Programs Utilization of Tools and Technology In Delivering the New Programs,Recognized leader in developing and implementing global Human Resource solutions. With over 80 offices in 37 countries around the world we are very familiar with the cultural and lega

13、l differences in various countries. We understand how to take global programs and make them effective across borders. Vast experience over the years to in the areas of total compensation, performance management systems, talent management development solutions, value scorecards and communication of g

14、lobal strategies. Preferred partner of The ECONOMIST Intelligence Unit in conducting the 1998 study Building and retaining global talent towards 2002.,Our Standing,Experience in Developing Global Human Resource Applications Expertise in Total Compensation Integrating Shareholder Value Creation Appro

15、aches Knowledge of Employee Engagement and Employer of Choice Programs Utilization of Tools and Technology In Delivering the New Programs,We understand how various elements of compensation fit together to support business objectives Expertise in all areas of compensation, including direct pay, short

16、 & long term incentives, sales compensation, IT compensation, ownership programs (e.g. stock option and stock purchase plans), and executive compensation. The largest databases on executive and manager compensation (Total Compensation Measurement - TCM) and variable compensation (Variable Compensati

17、on Measurement - VCM) programs in existence.,Our Standing,Experience in Developing Global Human Resource Applications Expertise in Total Compensation Integrating Shareholder Value Creation Approaches Knowledge of Employee Engagement and Employer of Choice Programs Utilization of Tools and Technology

18、 In Delivering the New Programs,Deep expertise in helping companies think through and design compensation programs to maximize shareholder value. Understanding of meaningful measures, and their reinforcement through performance management, communication and compensation from our experience with glob

19、al organizations like Halliburton, Whirlpool, Cargill, GATX, and Rhne-Poulenc Rorer Inc. Vertically linked our engagement model to shareholder value creation to offer an all-employee business education course entitled “Creating Value: Working to Win,” which reflects value based management concepts.,

20、Our Standing,Experience in Developing Global Human Resource Applications Expertise in Total Compensation Integrating Shareholder Value Creation Approaches Knowledge of Employee Engagement and Employer of Choice Programs Utilization of Tools and Technology In Delivering the New Programs,Good understa

21、nding of what it takes to be an Employer of Choice from our work with: Fortune Magazines “100 Best Companies to Work for in America” On going Asian Wall Street Journals “Best Employers in Asia” Best Employer Studies in India, Australia, Brazil & Canada First hand knowledge of how companies have appr

22、oached total compensation, performance management, and business objective measurement, as well as the advantages they enjoy in retention, attracting talent, and stock appreciation.,Our Standing,Experience in Developing Global Human Resource Applications Expertise in Total Compensation Integrating Sh

23、areholder Value Creation Approaches Knowledge of Employee Engagement and Employer of Choice Programs Utilization of Tools and Technology In Delivering the New Programs,Own a number of development, benchmarking, measurement and administration tools that can support the development of new compensation

24、 and performance measurement programs, and augment the effectiveness of existing programs.,Our Standing,A Typical Engagement,NPV ($MM),Financial Modeling Absolute Components of Value,Business Monitoring Scorecard,Value drivers grounded in business unit strategy,and refined and bought into through di

25、scussion.,to arrive at a set that the business unit believes truly represents its strategy.,Facilitated Discussion,PVM* Consultant Participation,Customized People Initiatives,Incentive programs Specification of annual performance metrics and targets Performance management Leadership training Talent

26、management Employee training and communications Engagement survey Other,Business Strategy Formulation,Corporate and Business Unit strategy and goals Long term planning and financial forecast,*People Value Management,Leading Trends in Value Based Compensation,What is “State of the Art”? . it is in th

27、e“eye of the beholder” the objectives are old, but delivery methods are new alignment with shareholder interests enabling business strategy understanding short term tradeoffs from a value perspective incorporating lead indicators of value in compensation design team based pay industry specific custo

28、mization Newer developments go beyond compensation to integrate all HR programs on a common value platform,Leading Trends in Value Based Compensation,Getting a better grip on the behavioral aspects of performance measurement and incentive design W.W. Grainger experience with EVA incentives Halliburtons CVA plan Anticipating unintended behavioral c