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2014 08 hro today web ex (building the business case for hr transformation) final
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HRO Today webinar topic to discuss the HR/Payroll business case - fundamentals and trends.
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2014 08 hro today web ex (building the business case for hr transformation) final
1.
© 2014 Information
Services Group, Inc. All Rights Reserved. Proprietary and Confidential. No part of this document may be reproduced in any form or by any electronic or mechanical means, including information storage and retrieval devices or systems, without prior written permission from Information Services Group, Inc. HRO Today WebEx Julie Fernandez, Director ISG 08 August 2014 Building the Business Case for HR Transformation
2.
© 2014 Information
Services Group, Inc. All Rights Reserved 2 Introduction and Session Topic Julie Fernandez Director, Americas With more than 20 years’ experience in outsourcing and the HR services industry, Julie has led clients through some of ISG’s most complex global assessments and transactions. Julie leads global clients in their evaluation of HR technology and services, designing sourcing alternatives in both shared service and outsourced models, and articulating the business case value to support executive decisions and funding. Julie is responsible for all of ISG’s HR/Payroll intellectual property and for staying current with the HR and Payroll market and service provider capabilities around the world. Building the Business Case for HR Transformation In today’s funding environment, most HR organizations are given no value for the “soft savings” that exist beyond headcount and capital expenditures. IT, Finance and other corporate disciplines have successfully funded their business cases with savings from cost avoidance, improved manager/staff ratios, partial FTE reductions, and increased productivity. But HR continues to struggle to articulate fact-based cost savings and return on investment (ROI) through improvements in processes and technology. This workshop addresses the ongoing challenge to the HR transformation marketplace to produce a set of fact based savings that HR can with reasonable confidence base a decision on. What business value metrics can the HR sourcing industry point to for successful savings considered in “making the business case”? We will review tools and techniques that can guide Senior HR decision makers as they assess HR transformation options and the means to quantify expected business benefits and/or cost savings to achieve them Topic: Phone: +1 248 425 6733 Email: julie.fernandez@isg-one.com Twitter: @ISG Julie
3.
© 2014 Information
Services Group, Inc. All Rights Reserved 3 What We Will Cover 1. HR Transformation 2. HR Business Case Components 3. Approach and Resources 4. Business Case Trends
4.
© 2014 Information
Services Group, Inc. All Rights Reserved 4 HR Transformation of Roles HR Transformation is Rooted in Organization Change HR Service Delivery Guiding Principles Shift transactional work to low cost channels where appropriate Streamline, harmonize and automate programs, policies, processes and technology where ever possible Consolidate services across Regions and Business Units, where appropriate Ensure the right work is done by the right resources A strong business case is required to support the realignment of HR staff (people cost), to add enabling technology, and to engage the services of a variety of HR suppliers Design Architect Develop Evaluate Institutional Strategy HR Transformation is about business change and is more than just the consolidation of transactional work or implementation of new HR technology
5.
© 2014 Information
Services Group, Inc. All Rights Reserved 5 HR Business Case Components ► Your current HR cost baseline (or “base case”) is a static point-in-time view of current HR cost and consists of the following major cost components: Direct HR Staff - fully loaded cost associated with in-house HR resources HR Operations & Technology – facilities, equipment, phones, and infrastructure for HR Third Party Expense – HR suppliers (e.g., payroll, benefits, recruiting, training services) Indirect Staff – FTE cost of support from IT, local HR, and others not part of HR budget ► The HR business case will identify changes to this cost over a projected number of years and is usually considered in two parts: Implementation – one time cost that is typically incurred as an up front investment Ongoing – changes to each of the base case categories above as resources are shifted to support a new model ► Notice that the traditional business case described above is focused on HR cost that resides mostly within the Operations Budget of HR or a related SG&A function ► Business Value in today’s discussion will refer to a wide range of savings and efficiencies that are not specifically tied to these traditional business case savings, but still represent a tangible value to the company
6.
© 2014 Information
Services Group, Inc. All Rights Reserved 6 Business Case: HR Operations Savings Historically, HR has been required to present a business case that is entirely founded upon HR Operations Savings Examples of HR Operations SavingsExamples of HR Operations Savings ► Direct Staff Cost Reductions Redundancy of HR staff Labor arbitrage Economies of scale or automation ► Technology Cost Reductions Replaced technology Global consolidation of multiple applications ► Third-Party Spend Reductions Replaced suppliers Global supplier consolidation Lower cost supplier identified Description and Common PracticeDescription and Common Practice ► Traditional business case approach expects savings will come from reductions in current HR Operations budget: Consolidation of internal roles Elimination of internal roles and technologies Consolidation or replacement of third party systems or suppliers Reduction in systems maintenance and upgrades ► Many companies recognize a reduction in allocated cost (e.g., IT support, facilities) for resources that can be redeployed or reduced over time
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© 2014 Information
Services Group, Inc. All Rights Reserved 7 Business Case: HR Cost Avoidance Many organizations will recognize the value of HR investment anticipated in the coming years, but may only allow those identified as part of budget planning Examples of Cost AvoidanceExamples of Cost Avoidance ► Future Technology Upgrades Functional and technical enhancements HR / Payroll Systems Talent Systems ► Interface development and maintenance Multi-country payroll connectors to a global HCM ► Future Capital Expenditures Knowledgebase Contact center tools Data Warehouse / Reporting Real estate, seat costs, etc. Description and Common PracticeDescription and Common Practice ► HR is commonly underinvested, making it costly to achieve best practice service delivery. ► Cost avoidance for internal shared services support comparable to that available from an HRO provider is a material component: Portal for Self Service Workflow Automation Contact Centers ► Without including this cost in your business case, it is extremely difficult to justify the significant transition costs associated with a successful HR transformation
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© 2014 Information
Services Group, Inc. All Rights Reserved 8 Business Case: Value Creation A final, and often broad, category of business case savings is Value Creation, which is often considered “soft savings” or discounted as less reliable or verifiable. Examples of Value CreationExamples of Value Creation ► Increased productivity of HR generalists ► Reduced employee turnover resulting from talent management programs ► Payroll leakage on vacation time administration ► Reduced time to hire and agency spend based on new applicant tracking technology ► Talent management improvements due to clear identification of skills tracked in new talent management tool ► Improved decision making due to data accuracy Description and Common PracticeDescription and Common Practice ► Strict financial analysis frequently discounts or ignores business value estimates for HR ► While difficult to quantify, business value represents tangible savings to the company: Leakage of gross payroll or benefits dollars Impact to key staffing or performance ratios Increased productivity or strategic emphasis Reduced risk of financial or compliance penalties
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© 2014 Information
Services Group, Inc. All Rights Reserved 9 HR Business Case Results Value CreationHR Cost AvoidanceHR Operations Savings (Cost) Headcount reductions (full person) Current system or provider replaced Add or reduce outsourced suppliers Avoid interface development & maint. Eliminate need for planned HR system upgrades and replacements Discontinue support for obsolete HR systems Partial FTE – value freed for other tasks Improved productivity Payroll Leakage Decision-making analytics Compliance penalties and financial risk A business case focused solely on HR Operations cost will often strive for a cost- neutral outcome over a 3-5 year horizon (domestic) or 5-7 year (global)
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© 2014 Information
Services Group, Inc. All Rights Reserved 10 Socializing the Business Value of HR ► Most organizations today are given no credit for the Business Value that exists beyond headcount and capital expenditures associated with the annual HR Operations budget ► HR Transformation often requires significant investment in technology and change management ► Other SG&A functions commonly justify such investments with efficiency gains and other non-budget savings ► Business Value is known to result in real dollar savings, but the corresponding savings and calculations are not yet institutionalized Business Value Metrics vary greatly by the context of your current HR practices and data available There is no “one size fits all” calculation or savings Construct your business case with and without business value metrics, as they may be discounted ► HR as an industry must better measure and document Business Value savings to further the acceptance and recognition among Finance and C-Suite sponsors Challenge: Building a better business case to fund HR Transformation
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© 2014 Information
Services Group, Inc. All Rights Reserved 11 Approaching the HR Business Case ► Collect HR data early, including granular HR Direct Staff details and detailed allocation of time by process for all HR Generalists ► Develop a global business case with regional detail to support decision-making Approvals and funding decisions typically require break down by region Financial results will vary greatly by region o Resource-rich areas like the U.S. and Western Europe provide greatest cost and savings o Small countries and emerging populations require the most investment ► Focus on initiatives with certain characteristics that are likely to be “accepted” by your organization as part of the business case: Ability to establish credible foundation for metrics Ability to identify the savings within budgeted or actual cost in the organization Ability to communicate value of reduced compliance risks Ability to establish value for enhanced quality of service
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© 2014 Information
Services Group, Inc. All Rights Reserved 12 Resources for Estimating Business Value ► An HRO Today research committee of industry-wide participants has produced a Business Value Metrics Checklist for HR practitioners seeking to quantify additional savings for their technology or transformation business case: Reflects a compilation of the most widely recognized Business Value drivers today Describes the best practice or savings opportunity Includes Calculation Guidance, where available ► Institutional savings ranges are not readily available in the marketplace as a basis for estimating the business value for your particular HR Transformation ► HR research reports and case studies are the most common means to articulate business value – generally successful when an organization articulates many and focuses to make a few key values “stick” ► Deeper experience and case studies provided by third parties is often an invaluable in estimating Business Value expected from HR Transformation Business Value is tangible and intuitive, but most HR buyers will fail to quantify it in a way that will pass harsh financial scrutiny
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© 2014 Information
Services Group, Inc. All Rights Reserved 13 Sample: Business Value Estimates HR Service BVE Category BVE Calculation Reference Description Talent Management Employee Retention 5-10% reduction in annual employee turnover 'Exp Reduction = Current Employee Turnover expense * 5% Case Study – Company XYZ improved Employee/Manager experience by making it easier to get accurate information, process transactions, and resolve issues. Employees have greater access to training & career development support. Talent Management Time to Complete Transfer/Promotion 70% reduction in time to completion Exp Reduction = Current Time to Completion * 70% Industry Study: Cedar Crestone Adoption of new HCM technologies allows for a reduction in average time to complete a personnel action. Sample Business Value Checklist Items Sample Business Case Estimates Business Value Recruiting Hiring manager productivity Assume 1 hiring manager per location with an average salary of $45K/$18K spends an additional 4 hours per month on recruiting administration that will go away. $1.9M Recruiting Cost per Hire – Reduction in agency fees Assume 20% of COMPANY XYZ's 1,857 external hires go through RPO. Assume commission of 20% on average salary $45K/$18K for a total $2.3M agency commissions. Estimate 5% savings. $117K Total Recruiting $2.0M HR Area Opportunity
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© 2014 Information
Services Group, Inc. All Rights Reserved 14 To broaden leverage of shared staff, companies are more likely to consider a bundle of functions including HR as a fit for a GBS model -- Shared Services or outsourced Trend: Broad Global Business Services (GBS) Scope Finance General Ledger Accounts Payable Fixed Assets Accounts Receivable Travel & Entertainment Credit & Collections Tax Compliance Cash Management Billing / Invoicing Human Resources Workforce Administration and Forms Processing Payroll Processing Benefits Administration Compensation Administration Learning Administration Training and Education Recruiting Relocation Services Information Services Standards Technology Development Data Management Applications Development Application Maintenance Telecommunications Hardware and Software Acquisition Legal Litigation Support and Co-ordination Environment, Health and Safety Consulting / Auditing Regulatory Compliance Corporate Affairs Communication Services Media Relations Manage Required Filings and Payments Globally Supply Chain Indirect Sourcing Direct Sourcing Order Management Spend Analysis Supplier eProcurement setup Contact Centres Customer Service Customer Orders Technical Service for Call Center Contact Center Back Office Processing Sales and Marketing In-Store Display Management Content & Catalog Management Direct to Customer Fulfillment Copy Preparation Web Development Sales Order Management Other Postal Services Data Entry Reprographics Document Management Facilities Management Corporate Real Estate
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© 2014 Information
Services Group, Inc. All Rights Reserved 15 Trend: Using HR Staffing Ratios ► Without a firm understanding of cost, HR often seeks out broad HR Staffing Ratios to estimate the size and cost of future state organization ► Industry staffing ratios describe the size of HR without any means to ensure like-for-like scope, degree of retained vs. outsourced activity Nuances by industry, by company size are not readily available Variations exist by region, but ratios are commonly based on North America experience Companies operating in a decentralized model must consider the geographic span of HR necessary to serve employees Exercise caution in the use of HR Staffing Ratios to size the future organization or estimate business case savings associated with a smaller HR Sample: HR Staffing Ratio Employees Served Per HR Employee Best-in- Class ► Instead, a total cost benchmark can help anticipate cost without bias and normalize for many attributes of scope, size, geography, and complexity. Sample: Total Cost Benchmark Payroll Cost for COMPANY XYZ
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© 2014 Information
Services Group, Inc. All Rights Reserved 16 Trend: SaaS Marketing Cost savings calculated on productivity and staffing ratio assumptions, which tends to underestimate future state HR staff resources HR Operations savings is a negligible part of these estimates and are often questioned as funding requests are escalated Projections showing 3:1 ratio of non- people related savings to people- related savings is an appealing message ► As part of the sales pitch for HR SaaS technology, we find more information being passed to HR buyers as a ready-made business case ► HR buyers are inclined to try to shortcut a detailed cost analysis by triangulating estimates and ratios with HR advisory and research sources ► Caution: HR often underestimates the business case rigor that will be required to fund a significant investment in HR Transformation
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www.isg-one.com Julie Fernandez Director, Americas Phone:
+1 248 425 6733 Email: julie.fernandez@isg-one.com Twitter: @ISGJulie
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