LEADERSHIP COMPETENCIES
WORKSHOP
SLIM DUBAI 2018
HOW LONG HAVE YOU BEEN A LEADER FOR?
OVERVIEW
Objectives and Overview
•
The Need to Recalibrate
•
• Recalibrated Leadership Competencies
Leadership in Action
•
• Self-Rating Leadership Competencies
Wrap up & Close
•
OBJECTIVES
TO HELP YOU:
• Understand the need for recalibration.
• Recall the six recalibrated competencies
and what they stand for.
• Internalise what the competency behaviors
mean to you and how to translate them into action.
OUR BUSINESS GLOBAL STRATEGY
WHY NEED TO RECALIBRATE? ‘Double the asset portfolio in 3-5 years’
Vision, Mission & Strategic Priorities
Simple
Current & Future Business Needs
Aligned with
Actionable
Future Focused
Core Values
OUR BUSINESS MODEL IS CHANGING ‘Double the asset portfolio in 3-5 years’
ASSET MANAGEMENT COMPANY
OWNING COMPANY
DEVELOPER COMPANY
HOW DO WE PREPARE OURSELVES AS LEADERS FOR THE FUTURE?
WHAT DOES LEADERSHIP MEAN TO YOU? Your thoughts.
EFFECTIVE LEADERSHIP IN THE 21 ST CENTURY
WHAT CAN WE LEARN FROM THESE THREE QUESTIONS?
RECALIBRATED LEADERSHIP COMPETENCIES
Being a Shangri-La Leader Recalibrated Shangri-La Leadership Competencies
3 Bs 3 Ps
BUSINESS PERFORMANCE
PEOPLE SUCCESS
Competency Definition
LEADS TEAMS
DRIVES BUSINESS RESULTS
Generic Effective & Ineffective Behaviors
BUILDS COLLABORATIVE PARTNERSHIPS
DEVELOPS PEOPLE
Effective Behavioral Descriptors at 4 Levels
DRIVES INNOVATION
DEVELOPS SELF
Being a Shangri-La Leader Recalibrated Shangri-La Leadership Competencies
Competency Definition
Generic Effective & Ineffective Behaviors
Leading Organisations
Leading Leaders
Effective Behavioral Descriptors at 4 Levels
Leading Multiple Teams
Leading Teams
Being a Shangri-La Leader Recalibrated Shangri-La Leadership Competencies
Learn, demonstrate & drive
Leading Organisations
Learn, demonstrate & mentor
Leading Leaders
Learn, demonstrate & inspire
Leading Multiple Teams
Learn, demonstrate & lead
Leading Teams
3 Bs 3 Ps
The Shangri-La Leadership Competencies
DRIVES BUSINESS RESULTS
DRIVES INNOVATION
BUILDS COLLABORATIVE PARTNERSHIPS
Facilitates business success by building and maintaining supportive, responsive and trusting relationships with stakeholders within and outside Shangri-La
Can be counted on to consistently deliver business results with a bottom line and customer centric approach
Fosters an environment that supports experimentation, rewards risk taking, accepts failure, reinforces curiosity and continuously challenges the status quo.
BUSINESS PERFORMANCE
DEVELOPS PEOPLE
LEADS TEAMS
DEVELOPS SELF
Develops and leads high performing teams to achieve business goals, role modeling the Shangri-La Values
Understands and is committed to people development. Identifies and supports growth opportunities, providing encouragement through coaching and constructive feedback.
Exhibits continuous desire to learn, acquires knowledge and skill-sets to meet existing and future business needs
PEOPLE SUCCESS
Being a Shangri-La Leader Identifying specific behaviours – generic definitions
ACCESS THE GENERIC DEFINITIONS BY SCANNING THE QR CODE
Affinity Wall Identifying specific behaviours – different levels of leadership
Based on your leadership level:
Access the specific behaviours related to your leadership level so that you can clearly understand how to live our Shangri-La leadership competencies in your role.
Leading Leaders
Leading Multiple Teams
Leading Teams
Be a Role Model
Set a Personal Example
• Make time to facilitate dialogue, reflection, and feedback • Be aware of the impact of what you are modeling (be it positive or negative) • Make a conscious effort to articulate what you are modeling, and to make the implicit explicit • Reinforce through symbols, artifacts and storytelling
▪ Build and affirm shared values ▪ Align actions with values
INTRODUCTION TO THE 2018 BALANCED SCORECARD INCENTIVE SCHEME
1
What we will cover today
The rationale behind The Balanced Scorecard
The Balanced Scorecard focus areas
The scoring mechanism
The Bonus calculation
The Regional Office Bonus
Q&A
2 2
THE RATIONALE BEHIND THE BSC
What is a Balanced Scorecard?
➢ It was developed by Kaplan & Norton in the early 1990’s, Accounting and Leadership academics at Harvard Business School
➢ Designed to help firms measure business performance using both financial and non-financial data.
➢ The aim of the BSC is "to align business activities to the vision and strategy of the business, improve internal and external communications, and monitor business performance against strategic goals."
➢ The balanced scorecard provides a relevant range of financial and non-financial information that supports effective business management.
2 4
What does this mean for Shangri-La?
For Shangri-La -The Balanced Scorecard is a strategic management tool that will enables us to assess the health and performance of our hotels from a holistic perspective across six key dimensions
Why do we need a Balanced Scorecard?
A BSC will allow us to align the entire organization behind our key focus areas for the year
Its designed to encourage collaboration and personal accountability as it rewards both teamwork as well as individual performance
It will guide everyone in the company from HQ to regional leaders to our front-line staff
It offers transparency and tracks performance using focus areas that can be measured, quantified, benchmarked, and aggregated
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Why do we need a Balanced Scorecard?
It reduces subjectivity , ensures a fair, accurate and consistent evaluation of hotels and colleagues’ contributions and performance
Evaluates interrelated performance across multiple facets of our business, not just financials
Signals our commitment to building high performing, collaborative teams that drive business results
The performance of our hotels propels the performance of our regions and HQ, and vice versa
2 7
OUR APPROACH IS:
“All for One and One for All”
What does our Balanced Scorecard look like?
2 9
What does our Balanced Scorecard look like?
3 0
How does the scoring mechanism in Balanced Scorecard work?
Starting score
Target score
Max score
Below 80% score = 0
Above 120% score = 12
8
12
10
target
80%of target
120%of target
Criteria to pass the above focus areas are set by respective functions in HQ and detailed out in the SOP
Under pass / fail system, the target is to pass, so the pass score becomes our “ target score ” For e.g. if the weightage on the BSC is 10%, then the score upon passing = 10, if weightage on BSC is 5%, then score upon passing = 5
3 1
How does the scoring mechanism with the BSC work?
Overall BSC weightings S. no. Dimensions
Simply take the weightings as target score In other words, if the hotel achieve exactly target and pass every metrics, they will get 100 BSC score
•
Threshold / fail score
Focus areas
Weighting
Target score Max score
•
1 Our Financials
Hotel GOR
10%
8.0
10.0
12.0
Hotel GOP
10%
8.0
10.0
12.0
F&B outlet profit
10%
8.0
10.0
12.0
2 Our People
Leadership competencies
10%
-
10.0
10.0
Core learning program
5%
-
5.0
5.0
Talent management
5%
-
5.0
5.0
Min score: 0
•
Max score: 114
•
3 Our Guests
Guest satisfaction
20%
16.0
20.0
24.0
Achieve on all
budget target
•
4 Our Initiatives
Drive E-direct
5%
4.0
5.0
6.0
Rate parity
5%
4.0
5.0
6.0
metrics and fail on other metrics: 56
5 Our Compliance
Security
4%
-
4.0
4.0
Food safety
3%
-
3.0
3.0
Cyber security
3%
-
3.0
3.0
6 Our Community
Food waste
5%
4.0
5.0
6.0
Overall CSR
5%
4.0
5.0
6.0
100%
56.0
100.0
114.0
Total
32
So- How will the BSC be calculated this year for Regional Office?
➢ As 2018 is the first year of SBC the focus is on rolling out the hotel level scorecard
➢ At regional/ HQ level it will be based on an aggregation of the performance of the portfolio
➢ We are taking an “ all for one and one for all” approach
➢ All hotels are equally important - not just the larger contributors (must support all)
➢ Ability for regions to score on all metrics , including compliance
➢ For our region operating in multiple countries and multi-currency, financial performance is evaluated on a constant fixed currency exchange rate ( USD) ➢ All metrics excluding Our Financials, Core Learning and Drive E-Direct will be calculated as a simple average of the BSC score achieved by the portfolio of hotels ➢ For the Core Learning Program metric an additional condition is that all employees have attended New Comer Orientation (NCO) as well as attended the core programs. ➢ For Financials and Drive E-Direct they will be aggregated to determine performance of GOR, GOP, F&B Outlet Profit, Drive E-Direct.
Working example of Our Financials – Hotel GOP aggregation
Local Currency
GOP Performance
Fixed FX
USD Bud
BSC Score
2018 Q1 Actual
2018 Q1 Budget
2018 Q1 Actual
2018 Q1 Budget
1,227,600
1,329,000
1.32
930,000
1,000,000
93%
9.3
Hotel 1
2,626,800
2,640,000
1.32
1,990,000
2,000,000
100%
10.0
Hotel 2
2,666,799
2,832,000
1.18
2,259,999
2,400,000
94%
9.4
Hotel 3
8,320,750
7,470,000
4.15
2,005,000
1,800,000
111%
11.1
Hotel 4
1,032,000
645,000
1.29
800,000
500,000
160%
12.0
Hotel 5
7,984,999
7,700,000
104%
10.4
Regional Aggregated
For Region to score points in this metric
Must attain a minimum focus area performance of 80% Any achievement below 80-% will result in no score Performance above 80% will incrementally receive additional score Every additional % performance will result in higher score Maximum score will be capped at focus area performance of 120%
Performance
Score
Performance
Score
Below 80%
0
100-105%
10.0-10.5
80-85%
8.0-8.5
105-110%
10.5-11.0
85-90%
8.5-9.0
110-115%
11.0-11.5
90-95%
9.0-9.5
115-120%
11.5-12.0
95-100%
9.5-10.0
Above 120%
12.0
LEADERSHIP COMPETENCIES
WORKSHOP
THANK YOU
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