This week we are learning about the Capability Audit. Our lecture says that "capabilities have been referred to as a company’s identity." (NECB, Week2 Lecture, 2013)
I think that's very much true in the case of State Street. But I will have to explore further in the next few days.
Reference: NECB (2013) Week2 Lecture: What are Capabilities?
(8/29/2013)
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8/31/2013 - Update
Another week filled with new knowledge is coming to an end. As I explored the Capability Audit at SSB, I found this to be true and possibly more important than most other things: “Talent has to come together in teamwork. And you have to make the whole more than the individual parts.” (Ulrich, 2013)
But, time for the results! Here’s how each of the 13 capabilities are rated at my company:
1. Talent: The Company is versed in attracting, motivating and retaining talented employees. The more than 29,500 employees worldwide and the close collaboration with top universities are proof that HR is doing a great job aliening recruiting methods to the new standards of the industry. So that would be a 4, as there could always be more improvement.
2. Speed: Despite the size of the company and the fact that it has branches on 5 continents, SSB does things fairly fast, with agility, flexibility and a relatively short response time; I gave it a 4.
3. Shared mindset: The company vision is clear (“Stronger together”) and it promotes the values and the culture of the workplace. It is why a number of recent changes have been reasonably easy to implement throughout the organization. Here, SSB gets a 5.
4. Learning: SSB pushes learning to the point where each employee is required to take at least 3 internal - company provided – free classes a year, as part of the annual appraisal. Sharing knowledge and job shadowing is very much encouraged as well. Again, 5.
5. Collaboration: This ties into the previous capability. Aside from job shadowing, the new Collaborate intranet website has become a mainstream tool for everyone in the bank. So, I’d give it a 5.
6. Innovation: Strategic innovation is receiving a lot of attention at SSB. There’s an innovation rally, which opens the door to every employee to come up with ideas; there’s the collaboration with TED, Harvard and MIT etc. I’ll only give this a 4 because I think more can be done and it is not at the point where employees have time set aside in their work day to come up with ideas.
7. Accountability: For the most part, the banking environment is under enough daily scrutiny that performance needs to match expectations - 4.
8. Leadership: Things have changed a lot in the past couple of years. The “dead wood” has been replaced by leaders who are willing to mentor others and share their knowledge for the better good. It’s a 4.
9. Strategic Unity: There is definitely more of a strategic agenda than what I’ve heard of in other companies. A common vision helps a lot. But, it is a huge organization and it is undergoing many changes, especially in its IT department. For that reason alone, I will give it a 3.
10. Efficiency: “Redesign, reengineer, restructure” – it sounds like a quote right out of the recently implemented LEAN process. A lot has been done and a lot remains to be done. It is an ongoing process, but “so far, so good” – 4.
11. Customer connectivity: SSB is most certainly customer-focused. Whether we talk about internal or external customers, they are the driving force of our business. The transition to a cloud environment has enabled even more connectivity and efficiency – 4.
12. Social responsibility: Corporate citizenship and HR go so much “hand in hand” that Alison Quirk, the HR EVP is also the Corporate Citizenship Officer. Employees get 2 paid days a year to volunteer for their chosen cause and the company will match any donations to eligible NGOs. No doubt, a 5 here.
13. Risk: Managing risk is at the core of the business. Back-up locations, work from home access, periodic testing of the emergency systems – these are just a few of the aspects that bring SSB as close to a 5 as it gets in this capability.
References:
Ulrich, D. [RBLGroupTV].(2013, March 8). Capacity builder - HR competency study. [Video file]. Retrieved from: - http://www.youtube.com/watch?v=x5c97dehSio
P.S. Here's my latest entry on SHRM:
http://community.shrm.org/Communities/ViewDiscussions/ViewThread/?GroupId=145&MessageKey=8e9344d4-cda8-461b-af0a-9ad37be1cdee
- My first posted comment on SHRM in regards to this week's topic:
I think that's very much true in the case of State Street. But I will have to explore further in the next few days.
Reference: NECB (2013) Week2 Lecture: What are Capabilities?
(8/29/2013)
..................................................................
8/31/2013 - Update
Another week filled with new knowledge is coming to an end. As I explored the Capability Audit at SSB, I found this to be true and possibly more important than most other things: “Talent has to come together in teamwork. And you have to make the whole more than the individual parts.” (Ulrich, 2013)
But, time for the results! Here’s how each of the 13 capabilities are rated at my company:
1. Talent: The Company is versed in attracting, motivating and retaining talented employees. The more than 29,500 employees worldwide and the close collaboration with top universities are proof that HR is doing a great job aliening recruiting methods to the new standards of the industry. So that would be a 4, as there could always be more improvement.
2. Speed: Despite the size of the company and the fact that it has branches on 5 continents, SSB does things fairly fast, with agility, flexibility and a relatively short response time; I gave it a 4.
3. Shared mindset: The company vision is clear (“Stronger together”) and it promotes the values and the culture of the workplace. It is why a number of recent changes have been reasonably easy to implement throughout the organization. Here, SSB gets a 5.
4. Learning: SSB pushes learning to the point where each employee is required to take at least 3 internal - company provided – free classes a year, as part of the annual appraisal. Sharing knowledge and job shadowing is very much encouraged as well. Again, 5.
5. Collaboration: This ties into the previous capability. Aside from job shadowing, the new Collaborate intranet website has become a mainstream tool for everyone in the bank. So, I’d give it a 5.
6. Innovation: Strategic innovation is receiving a lot of attention at SSB. There’s an innovation rally, which opens the door to every employee to come up with ideas; there’s the collaboration with TED, Harvard and MIT etc. I’ll only give this a 4 because I think more can be done and it is not at the point where employees have time set aside in their work day to come up with ideas.
7. Accountability: For the most part, the banking environment is under enough daily scrutiny that performance needs to match expectations - 4.
8. Leadership: Things have changed a lot in the past couple of years. The “dead wood” has been replaced by leaders who are willing to mentor others and share their knowledge for the better good. It’s a 4.
9. Strategic Unity: There is definitely more of a strategic agenda than what I’ve heard of in other companies. A common vision helps a lot. But, it is a huge organization and it is undergoing many changes, especially in its IT department. For that reason alone, I will give it a 3.
10. Efficiency: “Redesign, reengineer, restructure” – it sounds like a quote right out of the recently implemented LEAN process. A lot has been done and a lot remains to be done. It is an ongoing process, but “so far, so good” – 4.
11. Customer connectivity: SSB is most certainly customer-focused. Whether we talk about internal or external customers, they are the driving force of our business. The transition to a cloud environment has enabled even more connectivity and efficiency – 4.
12. Social responsibility: Corporate citizenship and HR go so much “hand in hand” that Alison Quirk, the HR EVP is also the Corporate Citizenship Officer. Employees get 2 paid days a year to volunteer for their chosen cause and the company will match any donations to eligible NGOs. No doubt, a 5 here.
13. Risk: Managing risk is at the core of the business. Back-up locations, work from home access, periodic testing of the emergency systems – these are just a few of the aspects that bring SSB as close to a 5 as it gets in this capability.
References:
Ulrich, D. [RBLGroupTV].(2013, March 8). Capacity builder - HR competency study. [Video file]. Retrieved from: - http://www.youtube.com/watch?v=x5c97dehSio
P.S. Here's my latest entry on SHRM:
http://community.shrm.org/Communities/ViewDiscussions/ViewThread/?GroupId=145&MessageKey=8e9344d4-cda8-461b-af0a-9ad37be1cdee
- My first posted comment on SHRM in regards to this week's topic:
