Outcomes Achieved on a Must-Win Project Prosci Webinar Slides
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1 Outcomes Achieved on a Must-Win Project Part 2: Outcomes Achieved through Success on a Must-Win Project Prosci Webinar What does a new change management journey look like for other organizations? Prosci. All Rights Reserved Prosci. All rights reserved. 2 1
2 Part #1 Webinar Agenda Key Milestones of a New Management Journey Introduce Finesta Financial Need Identification Build Individual Competencies Lessons Learned and Next Steps in the section Freesources Prosci. All Rights Reserved. 3 Introduce Finesta Financial: Sample Company Profile Finesta Financial specializes in innovative services to plan and fund a company s growth strategy; especially to global markets. Founded 2000 (Public) 15,000 employees Locations: Chicago (HQ), London, Hong Kong, Sydney Prosci. All Rights Reserved Prosci. All rights reserved. 2
3 Need Identification: Current Challenges Risks and opportunities with an underlying theme of organizational agility which was defined as the capability to rapidly change or adapt in response to changes in the market Key projects and initiatives have not produced the desired results and had to be reworked or delayed due to poor adoption and challenges in benefit realization A drop in employee morale coupled with management frustration impacting organizational culture Prosci. All Rights Reserved. 5 Need Identification: In the Words of the CEO Organizational agility will help Finesta react successfully to the emergence of new competitors, the development of new industry-changing technologies, or sudden shifts in overall market conditions. Liam Goodman, President and CEO Prosci. All Rights Reserved Prosci. All rights reserved. 3
4 Milestone Review Identified Need Champion CM Resource(s) Key Milestones of a New Management Journey #1 #2 #3 Project Application Partner Selection Practitioner Certification Role Definition Internalize ADKAR Apply Methodology Prosci. All Rights Reserved. 7 CI/360 Project Prosci Certified Practitioners Liam Goodman President and CEO and CEO Mina Wynn COO PRIMARY SPONSOR Chen Li Chief Information Officer (CIO) Laney Carter CM Director CM LEAD Paul Ross VP Global Client Services Sam Cantu PM Director PM LEAD Rachel Hogan VP Enterprise Information Services Regional Client Services Chicago, Hong Kong, London, Sydney Camille Harris Client Experience Lead SME IT Groups Solutions, Support, Infrastructure Prosci. All Rights Reserved Prosci. All rights reserved. 4
5 Foundation in place to apply a structured and intentional approach to support people through change. management is both a process and a competency. Prosci. All Rights Reserved. 9 Finesta Financial Sample Company Management: the application of a structured process and set of tools for leading the people side of change to achieve a desired business outcome. Management as a Process Effective change management follows a repeatable process and uses a holistic set of tools to drive successful change. Management as a Competency Set of skills that enables change and creates a strategic capability for increasing organizational effectiveness. Prosci. All Rights Reserved Prosci. All rights reserved. 5
6 Part #2 Webinar Agenda Outcomes Achieved through Success on a Must-Win Project Client Insights/360 Project Overview Prosci for Prosci Management as a Competency Prosci. All Rights Reserved. 11 What is a Must-Win Project? Liam Goodman President and CEO and CEO Mina Wynn COO PRIMARY SPONSOR Chen Li Chief Information Officer (CIO) Laney Carter CM Director CM LEAD Paul Ross VP Global Client Services Sam Cantu PM Director PM LEAD Demonstrating change success and delivering measurable results on a strategic initiative is critical. Rachel Hogan VP Enterprise Information Services What is a Must-Win Project? Regional Client Services Chicago, Hong Kong, London, Sydney Important for strategic or financial reasons Requires leadership focus Camille Harris Client Experience Lead SME Garners resource priorities Creates a model for success IT Groups Solutions, Support, Infrastructure Prosci. All Rights Reserved Prosci. All rights reserved. 6
7 Client Insights/360 ( CI/360 ) Project Strategic three year project designed to introduce: new operating model, processes, roles, and tools to transition from a transactional model of financial services engagement to one built on a personalized customer experience. CI/360 Project Year 3: Innovation CI/360 Year 2: Insights Year 1: Information Focus of Finesta CM Strategy and Plans Prosci. All Rights Reserved. 13 CI/360 Project: The 4 P s Project Name Purpose Particulars People CI/360: Year 1: Capture Client Information Year 2: Derive Client Insights Year 3: Drive Solution Innovation Improve sales Increase client retention rates, loyalty and advocacy Leverage global knowledge to support innovation in solution design Improve employee engagement in client success Tool: Foundational CRM Modules Process: Client engagement and information capture Roles: Accountability for client information capture and data accuracy Systems: Data standardization and loading Client Services Staff (all locations Chicago, London, Hong Kong, Sydney) Information Technology Staff (solutions, support, and infrastructure teams) Global Impact History of Failed Need to Define Adoption, Utilization and Proficiency Must Win to Model Success If people don t change how they do their job, then it doesn t matter what specific changes are implemented. If people don t change how they do their job, then we ultimately won t achieve what we set out to do from the beginning. Prosci. All Rights Reserved Prosci. All rights reserved. 7
8 Outcome to Achieve on the CI/360 Project Why we are making this change CI/360: Project Name Year 1: Capture Client Information Purpose Improve sales revenue by 10% in Year 1 Increase client retention rates by 25% in Year 1 Standardize global client data sets Standardize prospect/client data capture Standardize Finesta solution repository for access by employees in all locations Map client journeys planning for Year 2 to create client insights from data standardization Prosci. All Rights Reserved. 15 Prosci for for Why? To develop a customized and scaled approach with the necessary sponsorship and team structure. Readiness Assessments Risk Profile Anticipated Resistance Team Structure Special Tactics Sponsor Model Prosci. All Rights Reserved Prosci. All rights reserved. 8
9 Each Group Is Affected Differently The aspects of a person s job that are impacted by the change determine the degree of impact for each group Location Processes Degree of Impact Readiness Assessments Compensation Systems Performance Reviews Aspects of a Person s Job You Can Impact Tools HR IT Reporting Structure Job Roles Risk Profile Mindset/Attitudes/Beliefs Critical Behaviors Marketing Sales Prosci. All Rights Reserved. 17 Prosci for Prosci. All Rights Reserved Prosci. All rights reserved. 9
10 Prosci for Chicago/HQ (8,250) London (3,900) Sydney (900) Hong Kong (1,950) Prosci. All Rights Reserved. 19 Prosci for for Why? To develop a customized and scaled approach with the necessary sponsorship and team structure. Readiness Assessments Risk Profile Anticipated Resistance Team Structure Special Tactics Sponsor Model Prosci. All Rights Reserved Prosci. All rights reserved. 10
11 Prosci for Anticipated Resistance Special Tactics Client Services Chicago Complete replacement of existing CRM solution. London Anticipated resistance will come from standardization of data and the migration of existing client data to the new environment. Hong Kong Potential cultural implications in this region regarding data standardization. Sydney No standardized CRM solution/process in place from previous acquisition. Address Unique Attributes, Historical or Cultural Barriers, Leverage Key Influencers Prosci. All Rights Reserved. 21 Prosci for Anticipated Resistance Information Technology (IT) IT-Solutions Resistance will come from learning new skills, their new role and adopting new performance measurements. IT-Support They will resist changes to their current support processes and learning the new tools. IT-Infrastructure Impact on cloud infrastructure; primarily load balancing for CRM usage. They may resist the additional workload without additional resources. Special Tactics Address Unique Attributes, Historical or Cultural Barriers, Leverage Key Influencers Prosci. All Rights Reserved Prosci. All rights reserved. 11
12 Prosci for for Why? To develop a customized and scaled approach with the necessary sponsorship and team structure. Readiness Assessments Risk Profile Anticipated Resistance Team Structure Special Tactics Sponsor Model Prosci. All Rights Reserved. 23 Prosci for CEO (LG) CI/360 Steering Committee Team Structure Sponsor (MW) Project team LC Sponsor Model management leader(s) on project team Outside resources supporting change management leaders Corp Comms Training Sponsor Assessment Diagram Prosci. All Rights Reserved Prosci. All rights reserved. 12
13 Prosci for ABCs of Sponsorship Prepare Sponsors A Actively and visibly participate throughout the project Research Finding B The number one contributor to success for major change projects is effective Build sponsorship. a coalition of sponsorship with peers and managers C Communicate directly with employees Prosci. All Rights Reserved. 25 Practitioner etoolkit Prosci. All Rights Reserved Prosci. All rights reserved. 13
14 Is that typical? The Finesta for output represents the key decisions and actions; customization and scaling will vary. Prosci. All Rights Reserved. 27 Prosci Why? To create and implement plans that will move the organization and individuals through change. for Communications Plan Sponsor Roadmap Coaching Plan Training Plan Resistance Management Plan Prosci. All Rights Reserved Prosci. All rights reserved. 14
15 Connecting Organization to Individual for Communications Plan Sponsor Roadmap Coaching Plan Training Plan Resistance Management Plan A D K A R CUSTOMIZED SCALED TARGETED ALIGNED WITH BEST PRACTICES Prosci. All Rights Reserved. 29 Prosci Communications Plan for Sends the right message Timing Message content Delivery mechanism Sender Date and time To the right audience Early stages of the project At the right time From the right sender Through the right channel Audience During the design of the change Before implementation During implementation Post-implementation Prosci. All Rights Reserved Prosci. All rights reserved. 15
16 Prosci Communications Plan for CI/360 Key Messages CI/360 Finesta Project-Specific The business today The change (CI/360) How it impacts employees Organization-Specific Context for the change History of change Role of each person By Audience Executives, mid-level managers, employees Prosci. All Rights Reserved. 31 Prosci Sponsor Roadmap for CI/360 Sponsor Roadmap Sponsor Assessment Diagram Coach, skill up, engage Prepare Sponsors management ABCs of sponsorship Direct coaching Responsibilities Model Start-up, design, implementation Prosci. All Rights Reserved Prosci. All rights reserved. 16
17 Prosci Coaching Plan for CI/360 Managers and Supervisors Prepare Themselves Understand the change Adapt to the change Develop competencies Leading Through Group and individual coaching Accountability Measurements and metrics Prosci. All Rights Reserved. 33 Prosci Training Plan for CI/360 Training Plan CI/360 Solution Training By audience and roles CM Training By audience and roles Impacted Employees During and after the change Proficiency metrics Prosci. All Rights Reserved Prosci. All rights reserved. 17
18 Prosci Resistance Management Plan for CI/360 Resistance Management Plan Resistance Anticipated By location and role Due to Organizational Attributes Process for By audience and role Assess, Diagnose, Respond Personal and organizational context Prosci. All Rights Reserved. 35 Prosci Integrating CM and PM into the Project Plan Sam Cantu PM Director PM LEAD Laney Carter CM Director CM LEAD Camille Harris Client Experience Lead SME Kick Off "Go Live" Initiate Plan Design Develop Deploy A D K A R for Strategy Communications Plan Sustainment Sponsor Roadmap Coaching Plan Training Plan Resistance Management Plan Prosci. All Rights Reserved Prosci. All rights reserved. 18
19 How do I access the Finesta sample plans? Practitioner etoolkit on the Prosci Portal Prosci. All Rights Reserved. 37 Outcomes Achieved on the CI/360 Project Why we are making this change CI/360: Project Name Year 1: Capture Client Information Purpose Improve sales revenue by 10% in Year 1 Increase client retention rates by 25% in Year 1 Standardize global client data sets Standardize prospect/client data capture Standardize Finesta solution repository for access by employees in all locations Map client journeys planning for Year 2 to create client insights from data standardization Prosci. All Rights Reserved Prosci. All rights reserved. 19
20 Finesta Financial Sample Company Management: the application of a structured process and set of tools for leading the people side of change to achieve a desired business outcome. Management as a Process Effective change management follows a repeatable process and uses a holistic set of tools to drive successful change. Management as a Competency Set of skills that enables change and creates a strategic capability for increasing organizational effectiveness. Prosci. All Rights Reserved. 39 Management as a Competency Prosci Sponsor Briefing Train-the-Trainer Strategic Alignment Workshop Role as effective change leaders Internal facilitation of Prosci training Develop a CM capability strategy Prosci. All Rights Reserved Prosci. All rights reserved. 20
21 Part 2: Outcomes Achieved through Success on a Must-Win Project Prosci Webinar 2017 Prosci. All rights reserved. 21
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