Beyond the EVP: The experience of Subsea 7
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Global changes in the way organisations operate and the economic slump that the oil and gas industry is facing, mean that Subsea 7 have had to drastically adapt their ways of working. Key to this is creating a sense of purpose in the work they do so that their people go through change with them.
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Beyond the EVP: The experience of Subsea 7
- 1. Beyond the EVP The experience of Subsea 7 (so far…) May 2015 Steve Harvey
- 2. 2Page22-Jun-15 Who are Subsea 7 The Global Engagement Challenge A perfect Storm Our Response so far… Our Next Steps… So what’s this chat about?
- 5. 5Page22-Jun-15 Traditional Engagement is not working
- 6. 6Page22-Jun-15 New Rules of Engagement – Hay Group 2014 • The Major forces reshaping how organisations will attract, motivate and retain people: – The world of work is changing – 6 Mega Trends • Globalisation • Environment • Demographics • Individualism • Digitisation • Technology Convergence
- 7. 7Page22-Jun-15 From Integration to Engagement and beyond… 2004 to 2012 Integration of people into the business 2012 to 2015 Engagement of people with the business 2015 Onward Empowerment of people within the business Focus on culture, engagement, leadership, empowerment and fit Bersin by Deloitte
- 9. 9Page22-Jun-15 The challenge for Subsea 7 – No 1 Market •Saudi and USA – A race to the bottom? Oil Price •Collapsing… Capex •Jobs are being cancelled or moving to the right
- 10. 10Page22-Jun-15 Subsea 7 HayGroup Insights - Effectiveness profiles
- 11. 11Page22-Jun-15 The Challenge For Subsea 7 – No 2 The results suggest a lack of connection between employees and the strategy / senior management team (Connect People with the Strategy) People aren’t receiving feedback on their performance, there is a need for more coaching to align behaviours with the strategy (Create a feedback culture) There is scope for more collaboration across the business (Create opportunities for collaboration) 01 02 03 To prevent a potential talent drain, more focus needs to be applied on fulfilling people’s career aspirations (Offer clear career opportunities) 04 Insights 2014 - Opportunities for Improvement
- 12. 12Page22-Jun-15 The Challenge for Subsea 7 – No 3 Subsea 7
- 13. 13Page22-Jun-15 So how do you change rapidly…and engage people with a long term future, when they think they may not have a future!! Subsea 7’s Response
- 14. 14Page22-Jun-15 Subsea 7’s 2020 Vision – Our 5 Focus Areas Strategy Technology Life of Field Project Accountability Organisation and Ways of Working
- 16. 16Page22-Jun-15 Ways of Working - Collaboration
- 18. 18Page22-Jun-15 Projects are our business They are the only revenue generation vehicle we have and everyone, whether working directly in a project team or in a supporting role, must be focused on the success of the project. We all need to be clear on our accountability
- 19. 19Page22-Jun-15 • Project Managers hold single point accountability for delivery of their project • Project Managers must mitigate risk and maximise opportunity on their project, as well as supporting the management of Group risks and opportunities • Strong support from Functions and Service Providers is key to project success • The role of the project and the role/obligations of our internal Functions/Service Providers must be aligned to ensure our people collaborate and Subsea 7 succeeds • Project Managers are also accountable for the success of the interfaces between the Functions/Service Providers and their project • The Functions/Service Providers are accountable to deliver their scopes of work in accordance with the “as-bid” situation • The Hemisphere Business Unit and Corporate organisations are accountable for the adequate resourcing and support of all projects Key principles of the Project Charter
- 20. 20Page22-Jun-15 Projects are core to our business We must all be focused on ensuring their success
- 22. 22Page22-Jun-15 Ways of Working - ESSA Standard Simplify Eliminate (STOP) Automate Functional within Region Tested Actioned ESSA Lead & Teams Hemisphere Lead Vision 2020 Change Team Group Hemisphere Country Country Hemisphere Country Large Functional Workshops Country ESSA Teams ESSA Model
- 24. 24Page22-Jun-15 Leading 7 - Theory U in a nutshell
- 25. 25Page22-Jun-15 Leadership for a Changing World
- 26. 26Page22-Jun-15 Leading 7 – The Programme
- 28. 28Page22-Jun-15 Vision 2020 Strategic Narratives The Future • Through Vision 2020 we will improve and develop our business in the long term: – Leveraging our key strengths in project management and engineering and building on our extensive track record – Broadening and improving our products and services through an increased strategic and technological focus – Becoming more agile and cost- effective by changing our ways of working • By improving what we offer the market, we will secure a better long-term future for our Company Current Down Turn • We are a successful oil and gas contractor and while the business environment is becoming more challenging, we are in a relative position of strength compared to many in the industry • We have always navigated any market downturns and emerged stronger in any upturns • Our Values, leadership attributes and behaviours will act as our ‘compass’, ensuring that we treat people with fairness and respect at all times • To ensure we weather the downturn, we need to win projects by reducing our costs, improving our efficiency and delivering more value to our clients
- 30. 30Page22-Jun-15 The Solution? What do people want from their work? • The Energy Project and Harvard Business Review Survey • 4 Key Findings: – Physical – the opportunity at work to recharge the batteries – Emotional – the feeling of being valued and appreciated for effort and contribution – Mental – the opportunity to focus on the most important tasks without being distracted and importantly, allowing people an element of flexibility in how and when people get their work done – Spiritual – the opportunity to express themselves in doing more of what they do best and enjoy most; by feeling connected to a higher purpose at work
- 31. 31Page22-Jun-15 The Progressive Diversity Challenge… Compliant Engaged Innovative Integrated Transforming Citizen Concept Tax & Legal Philanthropy Stakeholder management Sustainability Business in society Strategic Intent Compliance Reputation Business Case Value Creation Market & Social Change Leadership Lip Service Supporter Steward Champion Visionary Structure Marginal Functional Cross Functional Aligned Business Driven Issues Management Defensive Reactive Policies Responsive Programmes Pro Active Systems Defining Stakeholder Relationships Unilateral Interactive Mutual Influence Partnership Cross multi company Transparency Protection Public Relations Public Reporting Assurance Full Exposure The Boston College A collaborative Business
- 32. 32Page22-Jun-15 What further steps might Subsea 7 begin to take? Build a new Leadership Community Align personal work cultures with the way that the organisation wants things to be done Determine where you can make changes to working patterns, more flexible benefits Adopt and use the IS/IT tools to work flexibly and collaboratively Help to place people in roles that creates most happiness for them Engage people with compelling vision of the future
Notes de l'éditeur
- 2013 Gallup Poll of 142 countries noted that only 13% of the workforces felt engaged. What’s gone wrong. Towers Watson noted the same in 2012 with of 32000 people being surveyed and the trend being that people are no longer willing to go the extra mile Note – employee opinion surveys often tell you what but rarely tell you why?
- Revolutionary changes – people are stressed 24/7 lifestyle…digitisation is changing make the globe smaller and making the world an unpredictable place to work in. People are looking for something different, = purpose, work life balance, empowerment and freedom to operate, to give something back…(Newcastle University Alumni)
- People are looking to be a part of a diverse workforce and to have flexible working conditions and a balanced work life balance that works for them. Organisations increasingly need to be flatter and matrix with many people working across boundaries Hertzberg – The powerful motivator in our lives is not money, but the opportunity to learn, develop, grow and be valued and recognised for our work
- There is a danger that companies think that there is a nice linear relationship e.g. you do 1 + 2 and you will automatically get 3 Despite our efforts, we have not really improved
- Link to enabling agility, innovation imperative and big collaboration
- Developed model and tested with Southern Hemisphere Leadership team – UK, French, Norwegian and Brazilian Senior managers Built upon our leadership attributes and heavily trailed in our flagship leading 7 programme We are taking a ‘slow burn’ approach with this Builds upon the idea of big collaboration and innovation
- Create clarity and accountability – driven by the COO
- Distributed to senior managers and taken feedback onboard A strong company statement of intent
- 2 Champions working with Change team to engage with countries on a cross functional basis. Developing a short engagement workshop (2 hours) to allow people to test. Principles used to develop a 14 day country project workshop to agree new Project management processes in light of our business situation and findings taken into new organisational design
- Otto Scharmer – Transformational Leadership for a new world Problems can’t be solved with the same level of consciousness that created them – Einstein The traditional plan, do, check and act will not work Link to the trends Rise of Alto centric leadership
- Key was the development of the attributes by the next generation leaders – we deliberately avoided the Excom and SVP population although we tested the outcomes on them. They were allowed to explore but not change. Each is underpinned by behavioural descriptors. Alto centric leader not ego centric Leaders who can operate in the new world Leaders who can collaborate
- The paths to the future are made and not found and the process of making them changes both us and our final destination anon CEO The programme was designed to replicate theory U and to reinforce the concept of the servant or alto centric leader
- Need to get the business to see that we need to