Constant Change Management-Sustainable Engagement Programs: The Thomson Reuters Experience

PETER BUENASEDA Senior Site Officer & Head of HR

• Company Overview

• The Manila Transformation Agenda

• Manila Site Strategy post-award

• Employee Engagement in Focus

• Top Takeaways – Strategy where it matters to employees – Stories to bring strategy to life – Knowing how to engage employees – Talent Flow – Diversity and Inclusion – Understanding generational dynamics

AGENDA

THOMSON REUTERS Overview We are the world's leading source of intelligent information for businesses and professionals, combining industry expertise with innovative technology and powered by the world’s largest news organization, to deliver critical information to leading decision makers.

Legal: Westlaw is relied upon by 100% of the world’s top law firms.

Tax & Accounting: Checkpoint used by 99 of the top 100 U.S. accounting firms.

Scientific: Used by over 20 million researchers worldwide.

Media

Reuters News: Reaches 1 billion news consumers every day. World’s largest independent global news agency.

Financial: Provides financial applications for over half a million professionals globally.

Financial & Risk

OUR GLOBAL FOOTPRINT We employ more than 60,000 people and operate in over 100 countries

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As of Dec. 31, 2012

OUR VALUES

We believe… This means we will….. Customers are at the heart of everything

• Know our customers, enable their success • Anticipate needs, provide solutions • Be proactive, innovative and responsive • Provide value, inspire loyalty

Business is global

• Collaborate across boundaries and cultures • Leverage expertise and resources into scalable opportunities • Think and act as a world citizen

People make the difference

• Respect and value diversity of all kinds • Be the best place to work • Attract, develop, retain and reward good people • Create opportunities for excellence, performance, growth

Performance matters

• Set ambitious goals • Be committed and accountable • Deliver

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AWARDS + RECOGNITIONS

Thomson Reuters is proud to be recognized by some of the most important and influential publications and organizations around the world.

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FORTUNE Magazine’s 2012 World’s Most Admired Companies We ranked #1 Among Financial Data Service peers in Fortune’s 2012 List of World’s Most Admired Companies.

Thomson Reuters Named To Ethisphere's 2012 World’s Most Ethical Companies List For Fourth Successive Year

Interbrand 2011 Best Global Brand Survey We rose to 37th in the 2011 Best 100 Global Brands, up from last year’s ranking at 39th and our fourth consecutive rise in the survey since our debut in 2008.

Awardee, 2010 People Program of the Year Award – for the “Manila Transformation Agenda,” a change management program that capitalized on people and organizational strengths to grow local operations (People Management Association of the Philippines ) Awardee, 2011 Shared Services Excellence of the Year Award – for outstanding achievements as a key operations center providing high value services to the Thomson Reuters global network (International ICT Awards Philippines 2011) Recipient, 2012 Philippine Quality Award Recognition for Commitment to Quality given by President Benigno S. Aquino III

• Second largest of nine Operational Centers of excellence

– Bangalore / Hyderabad / Chennai / Gdynia (Poland) / Beijing / Bangkok / Costa Rica / Buenos Aires

• 2,400+ employees; average age: mid-20s – financial analysts, data analysts, publishing specialists, customer support

executives, sales and marketing professionals, lawyers, managers

• World-class talents – Have taken on roles in other Thomson Reuters centers in New York, London,

Sydney, Singapore, Hong Kong – Senior management are seasoned leaders from various industries and disciplines,

holding global and regional leadership roles, responsible for driving and delivering on business goals and managing multicultural organizations worldwide

THOMSON REUTERS MANILA

MANILA TRANSFORMATION

AGENDA

WHAT CAME BEFORE

THE VIEW FROM MANILA

• Vast differences in company culture

• Impact of integration

• Fear of losing jobs

• Continued relevance in new business direction

IN MANILA THE MANILA TRANSFORMATION AGENDA

1. Strategic Leadership

2. Opportunities Amid Change

3. Effective Communications

4. Talent Management

5. Employee Engagement

STRATEGIC LEADERSHIP • Manila Management Council

– Country governance, enabling strategy, shared services, communications, leadership development, government & industry relations, crisis management

STRATEGIC LEADERSHIP • Opportunity Seeking Forum

– Build and differentiate Manila as center of choice – Build on core organizational capabilities – Provide the right organizational environment

STRATEGIC LEADERSHIP • Manila Value Proposition (2008)

“To be the global center of excellence with an outstanding track record, a source of high quality talent, and a strong customer focus – able to execute and deliver great business results for the new company”

STRATEGIC LEADERSHIP • HR Strategy for the Business

• Alignment Workshop

• HR Restructuring

OPPORTUNITIES AMID CHANGE • Pitching the Manila Value Proposition:

– Winning friends, influencing key stakeholders – A Balanced Picture, an informed decision – Excellent performance in a period of Change

OPPORTUNITIES AMID CHANGE • Birthing new business, growing existing groups

• Wider organization generated revenues in moving operations to a more competitive location

• “Companies go to where the Talent is”

OPPORTUNITIES AMID CHANGE • Better Careers, more Learning Opportunities

EFFECTIVE COMMUNICATION • Face-to-face, sustained small group

meetings, informal talks, townhalls

• High management visibility

• All-staff communications

• Consistent key messages: – Manila Value Proposition – Our capabilities – Our track record

TALENT MANAGEMENT

KNOW YOUR

TALENT

GROW YOUR

TALENT

FLOW YOUR

TALENT

• Redeployment: Zero lay-offs – Matching employees’ skills with business group requirements

• Career Clinic

• Flow the Talent Mentality

KEY TAKEAWAYS • Strategic Leadership requires leaders agile enough

to change strategies as the environment changes.

• Help employees capitalize on Opportunities as they come.

• Communications, to be effective, must have a high degree of transparency and integrity.

• Talent is our driver and competitive edge.

• Employee engagement is not just about fun; it’s building pride in the organization and its values.

• First level text is Arial 24pt. Arial Bold is used to highlight words within the paragraph. All text within the field is gray. Line spacing is 0.5 above – 2nd level text is Arial 20pt. Line spacing is 0.3 Above.

• 3rd level text is Arial 18pt. Line spacing is 0.25 Above – 4th level text is Arial 16pt. Line spacing is 0.2 Above.

• 5th level test is Arial 14pt. Line spacing is 0.2 Above

• All Line Spacing is in Lines not Points – All Line Spacing is set on the Master for each level.

MANILA SITE

STRATEGY Post-Award

MANILA SITE STRATEGY VIDEO 2012

MANILA VISION AND STRATEGY 2012-2013 MANILA VALUE PROPOSITION

To be the global center of excellence, a source of high caliber talent with a strong customer focus, and the ability to deliver superior business results.

STRATEGIES

DRIVE specializations and market expertise through continuous learning leading to customer intelligence.

OPTIMIZE Manila site capabilities by developing our new and existing performers and streamlining processes to increase our business value to Thomson Reuters.

HARMONIZE expectation of stakeholders with activities to accelerate Manila’s strategic site positioning.

INTENSIFY efforts at creating a world class environment that promotes high employee engagement and corporate responsibility advocacy

HARMONIZE OPTIMIZE

DRIVE INTENSIFY

Specialization/ Expert Career Track

A community of specialists/ experts on critical domains

Appreciation of our products from a customer point of view

“Know your Customer” sessions

Business sponsorship of critical competency certifications

ACE Program

Innovation applied to business systems, processes

EVP and Employer Branding

Hi Po Program

Succession planning

Internal, external stories, social media strategy for Manila

“Know your Business” for business acumen

Executive briefings + Manila Experience for stakeholders

Global Programs + Campaigns participation

Stake-holder engage-ment

Diversity & Inclusion

Corporate Responsibility

Employee Engagement

Rewards + Recognition

Cost Optimization

Manila as a global center of

excellence, a source of high caliber talent with a strong customer focus,

and able to deliver superior business

results

2013 MANILA SITE STRATEGY

MANILA SITE STRATEGY VIDEO 2013

EMPLOYEE ENGAGEMENT IN FOCUS EMPLOYEE

ENGAGEMENT IN

FOCUS

DEALING WITH CHALLENGES

AMBIGUITY TRUST

COMPLEX MATRIX ENVIRONMENT

Help employees accept, adapt to change

Engage, Influence stakeholders

3Cs OF EMPLOYEE ENGAGEMENT

EMPLOYEE ENGAGEMENT Interventions

• Day 1 celebrations

• Brand Ambassadors

• Transition & Change Workshops

EMPLOYEE ENGAGEMENT Interventions • One Company, One Year

EMPLOYEE ENGAGEMENT Interventions • TRansformers: championing our Values

• TRue Pinoy Christmas yearend event

EMPLOYEE ENGAGEMENT Interventions

• Manila Achievement Awards – Highest site recognition for

extraordinary individual and group accomplishments

– Criteria: Project impact, customers/stakeholder feedback/adherence to corporate values

EMPLOYEE ENGAGEMENT Interventions • Corporate Responsibility and Volunteerism

EFFECTIVENESS: EMPLOYEE ENGAGEMENT • Second highest engagement scores in 2008, 2009, 2010;

highest in 2011 worldwide

75

80

85

90

95

2008 2009 2010 2011

CorporateManila

Employee Engagement Survey Results

94 93

88 88 87

86

84

86

KEY TAKEAWAYS

#1: STRATEGY WHERE IT MATTERS TO EMPLOYEES • Strategies are broad, but anchored on sustaining

competitiveness of Manila as a location

• Strategies focused on HOW we can make the Manila Value Proposition a reality, not just on WHAT it is

• Strategies were translated into something recognizable for employees to relate to as a site, not as separate business units

#2 STORIES BRING OUR STRATEGY TO LIFE • Key messages and stories consistently related what we

do to the Site Strategies – Big wins / new businesses / team expansions / new roles – Talent Flow / Specialization / Process Excellence & Innovation – Global Filipino Professionals / recognitions / external awards

• Use of multimedia communication channels to reinforce the message – All staff emails, townhalls, enewsletter, AVPs, slideshows,

posters – Social Media: Thomson Reuters Manila facebook page – Employer Branding through external PR campaign for print and

online

#3 KNOWING HOW TO ENGAGE EMPLOYEES • Involvement and commitment of employees in action planning

for sustainable employee engagement programs

• Reward and recognition of individual and group achievements

• Highlight employee participation in corporate social responsibilities

• Structure, support and mechanism for employees to drive their own activities, programs and interests

#4 FLOW YOUR TALENT

• Cohesive approach, structure and mechanism for employees to Move In, Up and Around within their business units, across different businesses, to specialist roles and even to other locations

#5 DIVERSITY AND INCLUSION • Embracing Diversity & Inclusion

• Better business performance, improved understanding of our diverse customers’ needs

• Greater opportunity for out-of-the-box problem solving

• Increased workforce productivity, engagement, job performance

• Broader candidate pool to recruit great talent

• Diversity Programs

• Women@thomsonreuters: developing women for leadership, championing advocacies in the workplace

• Pride at Work: professional and social networking, talent development for lesbian, gay, bisexual, transgender employees

• 25 interest clubs ranging from sports to song and dance to faith

#6 GENERATIONAL DYNAMICS • Engaging Gen Y employees

• Strong desire to make a difference: impact on the business, impact on critical decisions that change the world, impact on bettering lives of others

• Strong aspiration for values: cares what a brand stands for, pride in being Brand Ambassadors

• Technology and social media savvy: values peer relationships/ networks at work

• Retention through Talent Flow: able to move in, up, and around the organization to move to greater challenges and opportunities

Questions