Case Study

Selected iconic work done in the Exiting of People and Digital Transformation Space

Preparing for and Effectively Exiting the Workforce

Context

The Insurance Group was going through a business model reframing, so leading to a very different manpower requirement and capability skill set.

Issue at hand

To prepare for an exit of almost 15% of the workforce as the new digital business model for the Organization is put into operation.

How we did it

Supported the Senior Leadership Team in their planning as they identified the “exiters”, based on clear criteria which fulfilled the spirit and letter of the Law as well being guided by the spirit of “compassion” at all times. Worked closely with the IR Consultant to conducted work workshops with the leaders to prepare them for the messaging both internally and externally. Crafted time lines and key milestones with the internal communications team as part of the bigger project management plan. Crafted specific talking points for the CEO as she conducted the townhalls to launch the “exit” program.

Key stakeholders

CEO, Chief People officer, Senior Leadership Team.

Outcomes

Clear succinctly executed Exit program impacting almost 80 people in totality. Managed well in that there was little or no mention of the exit in the mass media. “Noise” of the exit was kept to a minimum and this itself was the success in the manner of how the program was carried out.

Preparing the Leaders for Digital Transformation

Context

The Insurance Group required a very different leadership framework given the changing business model that it was implementing. The focus was now on the digital environment and the changes that this brough to the work environment but even more significantly to the way the leaders managed their staff.

Issue at hand

A very different mode of behaviour is expected given the digital model that is being implemented. This leads to different work processes and expectations on the job. How should the leaders behave in this regard? How different should their behaviours be relative to the operating model of the “old world”?

How we did it

Conducted a variety of strategic decode sessions with Board members and senior leaders to distil the very DNA expected of the new Organization given the new model that its working towards. This led to the crafting of a new Leadership Competency Framework which aggregated future centric behaviours expected into 3 clusters and 6 key pillars. This was then presented to the Board of the Group Group for approval and to the Leadership Team for socialisation.

Key stakeholders

The CEO, Chief People Officer, the Senior Leadership Team, members of the Board.

Outcomes

A future centric Leadership Competency Framework which will be used for assessment of all leaders within the Group.

Selected iconic work done in Mid Term Incentivization and Preparing for IPO

Crafting a Mid Term Incentivization Program for Material Risk Takers

Context

As per the Practice 19 Guideline from the Central Bank, the Insurance Company was required to inculcate a claw back mechanism for their Material Risk Takers vis their year end pay outs, in the event that bottom line financial growth does not correspond to declared expected earnings.

Issue at hand

Given the strategic role that FS companies play in the Malaysian Economy, any adverse bottom line financial outcome will have a negative impact to the financial rating of the institution. To this end, the need to hold Material Risk Takers accountable for the mid to longer term for their actions is critical to the financial sustainability of their Institutions at large.

How we did it

Working with the CEO and his Senior Management Team, including the CHRO, we conducted various scenario simulations on a multitude of corporate financial and non financial metrices. Whilst there was a focus on ensuring financial sustainability and risk considerations, there was also a need to not thwart innovation and the spirit of entrepreneurship and an element of risk taking. A working model was then firmed up and submitted for approval by the Board. This incentive plan was then rolled out in FY20.

Key stakeholders

CEO, Chief People officer, Senior Leadership Team.

Outcomes

A Board approved incentive plan for Material Risk Takers which was then shared with the Central Bank.

Setting the foundation for Public Listing

Context

Being a 20 year old interior design company, playing nationally and regionally, the ID Company was facing a plateau in its operational growth. As part of its mid term plan to go public, the need to drive up revenue growth and profitability now becomes critical for the short to mid term.

Issue at hand

How best to align everyone within the organization to a common operational growth trajectory and financial targets and outcomes that will meet the demands of Bursa?

How we did it

Conducted a variety of strategic decode sessions with Board members and senior leaders to define priority areas for the mid to long term. This was then translated into a Corporate Score Card with clear accountabilities and an interdependency matrix. All metrices identified were consciously aligned to the common End Game targets set by the Board.

Key stakeholders

The Board, the Senior Leadership Team and the Business Managers.

Outcomes

Clear KPIs within a PMS which is driven by a bi-weekly and subsequently a monthly reporting cadence. Improved accountability and commitment levels of Business Leaders and People Managers to ensure that all were working towards a common goal and sustainable financial outcomes.