Filed in: Organizational Change
Create Process to Integrate Diverse Cultures of Acquired BusinessesA $200-million holding company needed a performance management process to integrate the divergent cultures and business strategies of three recently acquired businesses.
Establish Common Platform for Goal-Setting & Performance ManagementWorking closely with senior management of the corporation and its acquired businesses, The Chatfield Group developed a customized goal-setting and performance appraisal system for the holding company that included management training as well as coaching in performance management.
To help build a common culture, The Chatfield Group facilitated a shared values discussion across all levels of the three acquired businesses.
Provide Communications & Training to Ensure Success of New Performance Management SoftwareTo create a high-performance culture, a major utility was seeking to 1) improve its ability to prioritize and manage goals, 2) strengthen the alignment between individual, departmental, business-unit and corporate goals, and 3) enhance its performance management process. To address these objectives, the company was turning to integrated performance management software and needed communications support for the implementation.
Develop & Execute Communications Plan to Support Software ImplementationThe Chatfield Group designed and executed a broad-based communications plan to support the company-wide rollout of Success Factors, a robust performance management software. At a high level, the various communications deliverables reinforced the utility’s plans to 1) automate its paper-based performance management process; 2) streamline goal-setting and performance appraisal while improving the quality of reviews, feedback, and employee development; and 3) improve the ability of the company to check alignment between individual, department, business and organizational goals.
Key deliverables included a comprehensive User Guide to help managers and employees set goals, fill out forms, take part in performance reviews, and engage in the online performance management process; handy EZ Guides to walk managers through the performance management process; a training PowerPoint for facilitators to use in conveying key learning experiences to employees; a chart outlining how to create SMART Goals, i.e. goals that are Specific, Measurable, Attainable, Relevant and Time-bound; and a series of Frequently Asked Questions (FAQs) with information about the planned adoption of the performance management software.
Attain Aggressive Performance GoalsA global commercial finance company with more than $20 billion in assets needed help attaining aggressive performance goals.
The client sought to attain top quartile ROE for each of its five core businesses as well as A/A+ bond ratings and a 15% overall ROE.