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© Grant Thornton. All rights reserved. Measurement strategy in Strategic Learning: Communicating alignment with firm strategy
© Grant Thornton LLP. All rights reserved. talent Unleashing our potential Mission: To make a difference to our colleagues, our clients, our profession and our communities Vision:To be the leading audit, tax and advisory firm, serving dynamic organizations in our chosen markets Goal: To grow our annual revenues to $2 billion by 2015 Chosen Dynamic organizations – the space we want to own markets: Strategic drivers: Global Collaboration Leadership Excellence Agility Respect Responsibility values: 2 revenue growth distinctive client service operational excellence brand
© Grant Thornton. All rights reserved. What is the vision for Strategic Learning? To empower our people to be the leading providers of audit, tax and advisory services for dynamic clients in our chosen markets
© Grant Thornton. All rights reserved. What are our measurement initiative goals? Alignment Stories Accomplishments and needs
© Grant Thornton. All rights reserved. What results do we expect by 2014? High Service Quality Measurement (SQM) scores Increased investment Seat at firm leadership table
© Grant Thornton. All rights reserved. What is our current state? Effective elements Consistent measurement of satisfaction, knowledge retention and application Business impact measurement for select initiatives Some stories demonstrating impact of initiatives Timely operational reporting Custom client reports available (on-demand) Clear financial reporting
© Grant Thornton. All rights reserved. What is our current state? Less effective elements Reporting alignment with strategic drivers Timeliness of financial reporting Limited discussion with clients regarding initiative measures beyond Level 1 and 2 evaluations Too few business impact measures and compelling stories Infrequent communication with senior leaders
© Grant Thornton. All rights reserved. What is our desired state? Clarity on measures within each strategic driver Business results-driven measures and reports Consistent standard and custom reporting for clients and leaders Periodic, consistent communication of key measures and stories with senior leaders
© Grant Thornton. All rights reserved. What do we need to do in FY12? Complete matrix aligning strategic drivers and reporting Identify 10 or more business impact measurement opportunities for FY12 Establish / enhance standard and custom reports –Drive usage of measurement dashboards Plan with Account Leads how/when to discuss reporting with clients Communicate consistently with senior leaders
© Grant Thornton. All rights reserved. Quarterly Impact Report Strategic Learning at Grant Thornton Q3 FY 11 | May 2011
Revenue Growth Drive towards $2 billion with innovative sales training Help service line and industry groups meet revenue goals Generate revenue through external learning solutions Ensure excellence through holistic skills development Foster engagement via learning/talent/career management integration Support global success by aligning learning initiatives Strengthen project management skills across firm Reduce risk with enhanced learning compliance oversight Increase SL capacity, production and results Drive efficiency/ROI by varying how we deliver learning Ensure excellence with effective CSC/SQM training Generate innovation in collaboration with ICS Provide distinctive client service to service lines, local offices, GTI Win prestigious recognition for Grant Thornton Share bold thinking Serve the community Foster alignment with Marketing Goals Talent Operational Excellence Distinctive Client Service Brand Progress Toward FY11 Strategic Goals At-a-Glance Status
Revenue Growth SMDP again proven to increase sales and revenue: 2009 graduate win size double peers’, generating an additional $17M+ in 18 months – see Program Showcase Sales training programs and resources help 1250X, Camp exceed revenue targets Successful US business development series extends to EMEA (Engage to Win launch) GT instructor bench strength expanded with Train the Trainer for (program) in (location) Industry knowledge strengthened with new Manufacturing Course Efficiency gained in X area… PM skills get significant boost with new Program Management Academy(April) CSC/SQM knowledge strengthened via more top-rated learning modules (average 6.X/7) Gained prestige for Grant Thornton with another award win: CLO Magazine LearningElite – ranked #28 out of 43 Secured thought leadership exposure for Grant Thornton by presenting at (industry event) Results Talent Operational Excellence Distinctive Client Service Brand Learning Drives Business Impact Results This Quarter
Program Showcase Senior Manager Development Program (SMDP) Leadership Development Business Challenge 2008 economic pressures Firm announces first financial targets for senior managers Senior managers need to sell more, increase win size – with little sales acumen Learning Solution Consult with executives on new SMDP curriculum Develop sales simulation where teams compete for a “client’s” business Bring in partners and business development experts as coaches, execs as client “board of directors” Results 2008 graduates vs. peers Win rate: nearly double (84% vs. 43%) Average win size: triple Average total wins: triple Addt’l revenue since 2008: ~$12M 2009 graduates vs. peers Win rate: double Addt’l revenue since 2009: ~$17M 2010 graduate evaluations 100% predict "significant impact" on sales Industry recognition: Two prestigious learning awards
Challenges to Business Impact Current Barriers to Success DriverChallenge Revenue Growth Senior level sponsorship needed for Industry initiatives Talent Need increased shift toward learning culture (SLT presentation) Operational Excellence Technology investment timeline needs to be accelerated and committed to by firm leadership Distinctive client service Need additional resources to service local office learning and development priorities Brand Often outperformed by Big 4 in top learning awards due to: Lower investment in learning per employee Limited involvement in firm’s strategic decisions (vs. CLO at VP level) Technological limitations
Strategic Learning Direct Costs Strategic Learning Budget Non-Strategic Learning, National Costs Time and SME costs Locally Designed, Developed and Delivered Time and SME costs Participant Costs Salary investment during training programs Opportunity Costs Loss of chargeable hours Total cost of ownership for learning Breakdown by budgeted and non-budgeted costs
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