Once a year, HR Leaders from across our enterprise convene for an annual summit to collaborate and develop a sense of community. This year, the team convened in Austin, Texas.
When HBM invests in a company, we provide more than capital. We look to partner with our portfolio companies for the long-term, providing support and resources to enable them to execute on their strategic plans. Support can take many forms including talent development, capital, IT standardization and support, or collaboration on projects.
Our annual HR Summit is an example of how we collaborate across the organization. Each year, HR Leaders from HBM and our portfolio companies convene to discuss people development and HR operations. This year, 15 people journeyed to Austin, Texas for a three-day summit to share best practices, develop a sense of community across the enterprise, and to determine effective ways that HBM can drive people development across the portfolio.
The key themes of our conversation this year focused on the following: leadership development and training, implementation of an enterprise-wide Human Capital Management system, and compensation. We also took the opportunity for each portfolio company to overview their business strategy, talent challenges, and demographics.
Talent development across our portfolio has always been a strategic priority for us. Last year, we built a robust leadership development and training program we coined Leadership in Action (“LIA”) to provide leaders from across our portfolio with an opportunity to develop their leadership skills and to learn what is expected of them as a leader within the HBM portfolio of companies. Training topics included positive engagement of team members, active listening, delegation, communication strategies and coaching. We intend to build on this success by hosting a Talent Summit in the spring of 2018 in St. Louis for leaders across the enterprise.
HBM will be introducing a new Human Capital Management system as a standard across the portfolio. Our IT partners on this project joined us for a day of the HR Summit to outline the project plan, participate in a system demonstration, and address the overall purpose for the implementation of a new tool.
Compensation is another strategic focus area as we look to create alignment across our portfolio. Last year, we hired Shelly Catoor as Manager, Total Rewards. Her objective: align compensation, employee programs and other incentives across the enterprise.
One of Shelly’s first projects is implementing a wellness program – Wellness Works – at each of our companies. The implementation plan received support from the HR community, and several portfolio companies are already in the active stage of the program. Wellness Works provides a framework to engage and incentivize participation in wellness activities (fitness challenges, smoking cessation, weight management, to name a few) as well as biometric screenings which aim to detect underlying health conditions early.
We covered a lot of ground during the HR Summit and outlined a comprehensive action plan for us to further collaborate on throughout the year on both strategic and operational projects. However, we couldn’t leave Austin without having a little fun. Before heading home, we put on our cowboy boots to enjoy a live music tour in the evening, and sported custom-made team t-shirts for our last day of meetings.