Staying Relevant: The Evolution of Talent Management Practices at Bank of America - Presented by
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Staying Relevant: The Evolution of Talent Management Practices at Bank of America Presented by Mr. Brian Fishel Senior Vice President, Enterprise Leadership Development brian.fishel@bankofamerica.com
As the Operating Environment & Business Strategy
Evolved So Too Has Leadership Development
2001-2008 2008-2010 2010 -
GROWTH ECONOMIC GLOBAL
Our Business
THOUGH CRISIS ORGANIC
New regulations and
ACQUISITIONS restricted business
GROWTH
Acquisitions and new operations Simplify, rethink, and
revenue opportunities manage risk in a customer-
driven, regulated global
environment
Respond to
Leadership Development
Delivered standard, Fundamentally
best-in-class talent regulatory requests repurpose what we do
management Culture
processes to integrate Focus on back to Organizations / teams
basics Leaders & teammates
companies and
leaders
2VISION Step 1: Understand the company’s strategy
To become the world’s finest financial services company
PRINCIPLES
OPERATING
Fortress Deliver Clean up Best place
Customer- Operational
balance shareholde legacy for people
driven excellence
sheet r value issues to work
Serve 3 groups of customers – individuals, companies and institutional investors
Deliver all business for all customers in the U.S.; deliver our GWIM, GCIB and
GBAM businesses around the world
STRATEGIES
Deliver franchise on an integrated basis to meet the needs of these customers
Create and preserve long-term relationships with these customers with a proper
value exchange for our services and products
Conduct our business so that we produce consistent long-term returns for our
owners, fulfill the needs of our customers and create opportunities for our AssociatesStep 2: Declare How Leadership Development
Will Work with the Business
Key Principles
1. The businesses’ strategies and priorities drive every product and service
that we deliver.
2. Build simple and easy to use solutions…We will work with the
businesses to create solutions which are practical and easy to
understand and use.
3. Balance enterprise requirements with responsive business solutions …
We will establish enterprise-wide standards and principles and work with
the businesses to enable the appropriate level of flexibility in execution.
4. Generate leadership commitment... Starting with our CEO, we will
ensure continuous executive level commitment and sponsorship in
everything we do.
5. Deliver value-added solutions… We will measure our return on the
impact and value to the business based on the relative time and
resources invested.Step 3: Prioritize Leadership Development’s
Value to the Company
STRATEGIES MEASURES OUTCOME
Post re-org
evaluation Bank of America
Team effectiveness has a common
Associate set of values
satisfaction and and a sufficient
engagement amount of
Stability of talent in leaders capable
business critical of driving
roles profitability and
Diversity & inclusion achieving
Top talent retention sustainable
Replacement depth results.
5Step 4: Make it Easy for the Business to
Work With You …
Level Description Involvement / Examples
Level 1 Provide web-site links or email
Distribute Tools & published versions of tools and Minimal enterprise involvement
Resources templates
e.g., send tools from the website or samples
Level 2 Recommend an additional of completed work efforts/ external
Refer Resources resource (internal or external) that benchmarks
& Follow Up can help to meet a need
Level 3 Moderate enterprise involvement
Extra Pair of Provide advice on front-end use
e.g., consult on how to conduct an
Hands / of resources; provide help, and
organizational assessment, assist in building
follow up
Over the Shoulder the process and approach, and provide
advice on implementation and progress
Level 4 Moderate to extensive enterprise involvement
Work with LD team member to
Partner in design or manage appropriate
e.g., help guide a specific component of a
Managing the interventions to support project
project – help support job redesign efforts for
Work and coach throughout (if needed)
an broader organizational design project
Level 5 Lead all aspects of an project Extensive enterprise involvement
based on client’s business needs
Lead Work
and expected deliverables e.g., cultural assessment and integrationStep 5: Deliver a Prioritized and Integrated
Talent Management Game Plan
Executive Sponsorship
Executive Management Talent Enterprise Perf. Associate On Culture &
Development Development Planning 360° Mgmt. Survey Boarding Values
Customized / Individualized
CEO DRs &
Select Sr.
Ldrs
CEO
100 Sponsor
Enterprise
Top Talent
Band 1-3/4 Associates
30-40
585
Band 1-4 Associates
650
5,500
All Associates
All Associates
All Associates
All Associates
28,000
125,000
Group-based for Scale
135,000
Numbers are rounded and approximate
Organizational EffectivenessCore Values
Core Values
Values are fundamental beliefs a company holds true. They clarify who we
are, what we believe and how we conduct ourselves to achieve our goals.
Provide basis for how people/groups conduct business, perform work, interact internally & externally
Give company both strong sense of identity & thread of continuity that binds the people together
Serve as a “bridge” between past, present and future
Written in a way that is relevant across lines of business and geographies, and that are actionable
and inspiring to teammates
AlignmentCore Values: A Deliberate Approach to
Driving Adoption
We will communicate about our strategy and our values together: strategy outlines
the “what” and the values help define the “how”
We will take a cascading approach to communicating the vision, operating
principles, strategy and values ensuring everything stays connected and aligned
Senior leadership will be visible in their support, adoption and advocacy of the
purpose, vision, operating principles and core values, incorporating them into their
own LOB strategies, management practices and communications
Integrated enterprise and LOB execution is essential for associate adoptions and
engagement over time
• Enterprise communications delivers overarching messages to all teammates through
enterprise communications channels
• Enterprise leadership development builds tools and resources for broad use across LOBs
• Lines of business create and execute tailored strategies and roll out plans that address their
unique needsCore Values: A Deliberate Approach to
Driving Adoption
Superior
Application
“know-how”
Understanding Adopt & Use
“know-why”
Business Results
Align Behaviors
Awareness
“know-about”
Communicate &
Sponsor
Current
Low Adoption Over Time HighBank of America Core Values We are Bank of America – teammates serving customers, clients, communities and shareholders through all of our businesses around the world. Together we: ►Deliver for our customers, clients and shareholders We share a passion for winning and serving the financial needs of individuals, corporate clients and institutional investors. We believe that disciplined execution will lead to sustainable and long-term performance. ►Trust in our team We work together around the globe to deliver the entire franchise to all our constituents. We strive to be consistent and straightforward in our interactions. ►Embrace the power of our people We value our differences – in thought, style, cultures, ethnicity and experience – understanding that diversity and inclusion are good for business and make our company stronger. ►Act responsibly We are aware that our decisions and actions affect people’s lives every day. We hold ourselves accountable for the disciplined management of risk and for doing the right thing. ►Promote opportunity We are committed to helping each other achieve our potential in order to build a better future for ourselves and the customers, clients, communities and shareholders we serve.
Enterprise Leadership Models
Leadership Expectations Have Evolved with
the Business
1995 1998 2001 2011
• Separate models • Enterprise • Ken Lewis • “New” Company
for each line of leadership model becomes CEO
business introduced to • Brian Moynihan
• New model
accelerate the announced as CEO
introduced to
NationsBank/BoA
reinforce new
merger • Leadership models
vision and
communicate new to reinforce new
expectations for vision, operating
success principles, core
values, and
expectations for
success
• Need to simplify to
make globally
relevantEnterprise Leadership Models… Articulating
Expectations at All Levels
Individual Contributor Mid-Level Senior Leader
Customer/Client Focus • • •
Business Acumen • • •
Risk Management • • •
Operational Excellence • • •
Teamwork • • •
Personal Courage • • •
Adaptability • • •
Lives Our Values • • •
Influence • •
Talent Management • •Enterprise Leadership Models… Expectations
Evolve By Level (e.g., Business Acumen)
Individual Contributor Mid-level Senior Leader
Demonstrates Sets Strategic
Knows the Business
Business Acumen Direction
• Demonstrates relevant knowledge • Understands the organization’s • Leverages deep financial acumen
of the bank’s products and services overall strategies and how the to create competitive plans for
business operates growth
• Understands what drives success in
his/her line of business • Understands what drives success in • Exhibits a thorough understanding
the business of the organization’s global market
• Keeps current regarding the position, capabilities and
policies, practices, trends and • Demonstrates financial acumen and challenges
technology affecting the bank and knowledge of the bank’s products
his/her line of business and services and their value • Transforms the business by
proposition for customers/clients fostering an environment that
• Understands how decisions made questions the status quo
in his/her line of business may • Transfers knowledge of the
impact other lines of business business to others • Proactively identifies opportunities
to reinvent, grow and add value to
the business
• Communicates a compelling sense
of purpose and creates excitement
about the future
Deliver for our customers, clients & shareholders ■ Trust in our team ■ Embrace the power of our people ■ Act responsibly ■ Promote opportunity► Bank of America Senior Leader Model Deliver for our customers, clients & shareholders ■ Trust in our team ■ Embrace the power of our people ■ Act responsibly ■ Promote opportunity
Talent Planning
Talent Planning Process
ORGANIZATIONS
Business Priorities Range of Potential
Decisions and
Organizational Structure Commitments
Talent Requirements Organizational Plans
• Restructuring
POSITIONS • Hiring
Scope & Responsibilities • Macro skill
development
Role Criticality
• Diversity and Inclusion
Acquisition /
Replacement Plans Talent Movement
• Promotions
• Expansions
INDIVIDUALS Performance • Top grades
Development/Movement Top Talent
Potential / Fit in Role • Skills/training
• Increased exposure
Top Talent • Certifications
Retention • AssignmentsDraft as of 3/21/2011
Talent Planning Process Overview
A core business process and critical component of overall talent management efforts at
Bank of America used to ensure:
• most critical roles in the organization are held by the most capable leaders
• the organization is developing a pipeline of leaders with the values, knowledge, skills, & ability to
execute today’s and tomorrow’s business priorities
CEO Reviews
Target population: CEO 2- and 3-deep leaders
(Approximately 1000 people)
24 meetings in total (12 in spring; 12 in fall)
Legal
Risk
GWIM
T&O
CFO
GCB
GB&M
CSBC
Audit
HL&I
GS&M
GHR
Replacement planning discussions for
approximately 200 roles
Target population: CEO 3- and 4-deep leaders
(Approximately 7500 people)
Organization overviews collected on more than 75
LOB Talent Planning organizations
Meetings
Replacement planning discussions for approximately
1000 roles
20 Confidential Treatment Requested by Bank of America Pursuant to the Freedom of Information ActExecutive Development
Executive Development Game Plan
Objective
To provide differentiated world-class development solutions to a select number
of senior leaders of Bank of America in order to enhance their performance in
current role while assessing their readiness and developing their capabilities to
take on different opportunities in the longer-term.
Approach
Leverage existing routines / events
Use mix of internal and external expertise
Drive integrated development using a combination of assessment, exposure,
education and learning, and coaching and experiences
Focus on real business issues that are globally relevant to the individual, their
Line of Business, and the Enterprise
22Executive Development Game Plan
An integrated and customized for targeted individuals and groups of top talent
1. Key Stakeholder Reviews 1. BOD Meetings/ Presentations
2. Role Based Assessments 2. BOD 1-on-1s
3. CEO Retreat
3. 360 Survey
4. Sr. Mgmt. Mtgs./ Presentations
4. Individual Performance
Management 5. 1-on-1s
6. Talent Planning Reviews
1. Sr. Mgmt Roundtables
1. 1 on 1 Development Coach
2. Skill Building Sessions
2. Technical / Business Coach
3. Targeted Business Topic
Sessions 3. Assignment Management
4. Leadership Forums 4. External Memberships
(boards, community orgs.)
5. CEO “Top 200” Meetings
6. External Education & Events
2
3Management Development Curriculum
First Time Manager Curriculum
Goal:
Create a consistent, repeatable and scalable enterprise approach to developing
first-time managers that complements existing line of business and regional
learning and development activities and differences .
From… To…
Vendor created content Internally designed content and “certified”
facilitators
Numerous self-paced online learning
courses Blended solution with self-paced, VILT and
Classroom components
US-only focus
Global delivery model
Minimal line of business
flexibility/customization Lines of business can customize /add-on
Manual enrollment and tracking Robust online site (Manager Development
Center) with easy to use tools and resources
Enterprise-level enrollment and trackingFirst-time Manager Program
Participant Identification Process Overview
0 1 2 3 4 5 6 7 8 9 10 11 12+Organization Effectiveness
Organizational Effectiveness
Objective:
To provide high quality, organizational effectiveness solutions that drive business outcomes and
accelerate business transformation. We do this by providing a centralized, enterprise-wide
group that:
1. Defines and deploys core organizational effectiveness and associate adoption
methodologies, processes, and tools
2. Supports critical LOB project work needed to drive business transformation
3. Builds learning solutions to increase proficiency in critical competencies
Scope:
• Deployed to identify /solve complex organizational issues with significant size, scope,
enterprise impact.
• Focused on diagnosis of systemic organizational issues
• Embedded in the business through partnerships with the HR on key LOB initiatives.
• Chartered to develop and deliver tools and training to build capabilities in the areas of
Organizational Assessment, Organizational Design, Team Effectiveness, and Culture
Assessment.Organization Effectiveness - Methodologies,
Processes & Tools
• Design Criteria
• Structural
Available Sites Options Sample Tools
• Designing an
Effective Matrix
• Org Assessment
Business Case
• Sample Report
Cover my • Executive
name Summary
• Team
Development
Survey
• Team Project
Charter
• Culture Survey
• Assessment
Report
• Culture
Sustainment Plan
A comprehensive web-based system that
enables HR professionals to diagnose business • Stakeholder
issues and design/implement solutions that Analysis
enhance organizational effectiveness. • Communications
Plan
• Change Adoption
/Sustainment
2 Plan
9Summary & Lessons Learned
How Leadership Development Has Evolved to
Meet Changing Demands
Past Current
Trying to Focus Focusing on the
develop “all” “top of the
associates house”
Individual Development Organizations
Leaders and teams
Executing Delivery Consulting with
processes the business
Structure Flexible
Line of Business
resources
Narrow
Functional Skills Broad, versatile
and deep
3
1Lessons Learned Always lead with a commercial mindset Ensure executive sponsorship for everything you do Know who your “clients” are and contract with them OFTEN Stockpile expertise, but don’t be the “expert” Be practitioners --- broad thought-leaders and partners to the business Be flexible, responsive and nimble … ready to deploy on a minutes notice Report and market your results … demonstrating where and how value was added
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