The COVID-19 crisis has forced firms to transform their organizations in every way feasible – structure, roles, compensation, and employee engagement. Human capital is the foundation of every business, and a firm’s strategy. People with technology deliver processes, processes help meet customer expectations, and meeting customer expectations delivers financial results. Cedar’s Balanced Scorecard thought leadership has helped clients deliver enterprise and individual performance time and time again.
Organizational transformation will need to cover all of the following:
- HR Strategy The HR strategy needs to be fully aligned in order to support any transformational business strategy. Cedar’s HR Scorecard can help HR Heads monitor and manage the execution of the new HR strategy.
- Enterprise Design & Structure: As structures need to become lean and efficient, Vertical and Horizontal de-layering of the organization will also need to happen and span of control will need to be realigned. Cedar helps in aligning the structures with the new business model and strategy, and the industry the client operates in.
- Headcount & Payroll realignment: The Post-covid era has necessitated realignment of headcount due to both fewer transactions and digitization, also resulting in consolidation of roles. People exits will also need to be managed in as humane a way as possible. As this will result in a significant reduction of payroll cost, variable compensation will need to be maximized. Cedar helps in executing this both from a design and implementation standpoint.
- Talent Management: Fully leveraging performers and high potential employees will involve identifying them and assigning with greater responsibility to drive accelerated career growth. Cedar helps in defining the competency frameworks, developing succession planning program and building a performance driven culture to nurture high potential talent.
How we add value
- Performance Management using the Balanced Scorecard: The BSC has been actively used by CEOs and the Human Capital function globally to drive individual performance and build a performance-oriented culture. Cedar designs Individual Performances Measures (IPMs) for all levels across the organization. Besides designing the IPM’s for clients, Cedar also transfers knowledge to the Human Capital function on how to maintain and realign IPM’s on a periodic basis based on changes to a business or annual plan. Cedar’s intuitive PeopleBSC tool allows leaders to track the performance of individuals, departments and the organization through effective visualization.
- Organization Redesign: Cedar has worked with leading organizations across the globe and helped them redesign their structures following key design principles that ensure the structures align with the overall organization strategy. A deep understanding of the industry allows Cedar to develop contextually relevant and industry aligned structures. Cedar also helps organizations with developing clear job descriptions, industry aligned grades & titles, and effective competency assessment frameworks to enable a performance driven culture. Cedar’s approach embraces clarity and simplicity in design and implementation.
- Compensation Design: Designing compensation structures that motivate employees is often one of the most sensitive initiatives that leadership can undertake. Cedar brings decades of experience in designing compensation packages that drive motivation and reward performance. From bonus structures to sales incentive plans, Cedar’s designs focus on rewarding high performers and driving the desired behaviour through the organization. Cedar ensures that the organization’s compensation design is simple to communicate and understand across all levels, thereby enabling ease of implementation. Cedar also assists organizations with rolling out the redesigned compensation, creating communication protocols, FAQ sheets, and addressing employee concerns.
Cedar is headed by a thought leader in this subject. Mr. Sanjiv Anand, the Chairman of Cedar, has been with the firm for 35 years, and has written two best-sellers on this topic “Unlocking Human Capital to Drive Performance” , and “Execution Excellence using the Balanced Scorecard”.