Creating Connections This document has been prepared for
Creating Connections This document has been prepared for general guidance on matters of interest only, and does not constitute professional advice. You should not act upon the information contained in this document without obtaining specific professional advice. No representation or warranty (express or implied) is given as to the accuracy or completeness of the information contained in this document, and, to the extent permitted by law, Pw. C, IIRC or their licensors do not accept or assume any liability, responsibility or duty of care for any consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this document or for any decision based on it. Copyright 2014. All rights reserved. Permission is granted to make copies of these slides, provided that all logos, disclaimers, copyright notices and acknowledgements on the slides are retained, and each copy bears the following credit line: "Copyright 2014. All rights reserved. Used with permission of the IIRC and Pw. C. “ In this document, Pw. C refers to the Pw. C network and/or one or more of its member firms, each of which is a separate legal entity. Please see www. pwc. com/structure for further details. IIRC refers to the International Integrated Reporting Council. Acknowledgements of third party source materials are contained on the relevant slides. Held in partnership with
Creating Connections Positive influencing to create ‘win-win’ outcomes Marilise de Villiers – Senior People & Change Consultant, Pw. C Roger Ayres – Director, Actors in Industry Massimo Romano – Head of Group Integrated Reporting and CFO Hub, Generali Vanessa Tapp – People & Change Consultant, Pw. C Held in partnership with
Creating Connections Session objectives • Be reminded of common influencing styles and approaches • Be reminded of your own preferred styles of influencing • Get some tips for engaging & influencing key decision makers in <IR> • Explore the impact of positive influencing in the <IR> context • Be able to apply a range of influencing techniques with key stakeholders to gain commitment to action • Feel motivated and empowered to flex your preferred communication style to achieve ‘win-win’ <IR> outcomes Held in partnership with
Creating Connections Welcome Positive influencing Engaging key decision makers Putting it into practice Held in partnership with
Creating Connections Welcome Positive influencing Engaging key decision makers Putting it into practice Held in partnership with
What is positive influencing? Creating Connections Active process… • …whereby one person (or group) modifies the attitude of another person (or group), • …by adapting their behaviour and communication style, • …in order to gain agreement and commitment to ideas or actions needed to achieve a goal. Held in partnership with
Why is positive influencing important? Creating Connections • Because of natural features of the way we communicate and our learned habits, we can make the influencing process more difficult and less successful than it need be. • Positive Influencing Skills helps you gain the cooperation of others and bring them around to your way of thinking – without resorting to manipulation! • It will boost your effectiveness, professional impact and personal credibility Held in partnership with
How would you organize a dinner with friends? A. “If you email me your availability, I’ll find a date that works for us all” B. “Let’s just decide on a date – next Saturday at 8 pm” C. “When would work best for you? What are your preferences? ” D. “Let’s get our diaries out now, let’s fix it so that everyone can make it!” Creating Connections Held in partnership with
Creating Connections Influencing techniques Task (Social style: Analytical) (Social style: Direct) Assertion Persuasion Lower energy Higher energy Attracting Bridging (Social style: Expressive) (Social style: Considerate) People Held in partnership with
Creating Connections Your individual preferences revealed ‘PUSH’ • • • Force Rules and standards Exchange (negotiating) Persuasion Assertion ‘PULL’ • • • Personal magnetism Attracting Bridging Environmental management Joint problem-solving Held in partnership with
Creating Connections Influencing techniques Task (Social style: Analytical) (Social style: Direct) Assertion Persuasion Lower energy Higher energy Attracting Bridging (Social style: Considerate) (Social style: Expressive) People Held in partnership with
Creating Connections Welcome Positive influencing Engaging key decision makers Putting it into practice Held in partnership with
Creating Connections Engaging key decision makers Massimo Romano – Head of Group Integrated Reporting and CFO Hub, Generali Held in partnership with
14 Generali Group Integrating Reporting IIRC Pilot Programme Conference 2014 Madrid, 24 -26 September 2014 Source: Generali Group
15 What we have done and what we are going to do «Our TIPS» : • Deliver a medium-term plan with measurable and reliable milestones Implementation of Internal IR at Group Level and IR at company level 20152016 IR 2. 0 (Focus on nonfinancial KPIs) YE 2014 Integrated Reporting (IR) 1. 0 and Financial Supplement HY 20141 Q 2014 YE 2013 Source: Generali Group Simplification of Interim Reporting
16 Integrated Reporting (IR) 1. 0 and Financial Supplement «Our TIPS» : • • • EXANE BNP PARIBAS – Niccolo’ Dalla Palma (report on 14 March 2014) “Improved reporting: we rarely mentioned this as a key point on day of results but it's worth noting that the new financial supplement includes significantly improved disclosure” Citi Research – Farooq Hanif (script conference call on 13 March 2014) “. . . Thanks also, by the way, for your excellent improvement in disclosure. I was really quite impressed. And I didn't think I'd say this, but I think you're getting to be one of the best in terms of disclosure in the sector …” Source: Generali Group Understand financial analysts needs Communicate our strategy, vision, and mission Friendly format
17 Simplification of Interim Reporting «Our TIPS» : • • • In line with the 2014/2016 Road Map of the Generali Group Corporate Reporting Evolution, the interim financial information has been simplified Compliance with the regulations Simplification and better disclosure Single message Single source of information, through the merger of both financial report and press release in a single document The investor info package (investor presentation, financial supplement, and CFO speech) and condensed consolidated financial statements (quantitative reports and explanatory notes) remain unchanged Source: Generali Group
The Generali Group: pioneer in the use of Internal Integrated Reporting “I think we are pioneers in bringing to life the Integrated Reporting within our Group. We do believe the IR is the right step forward in the Corporate Reporting evolution which will help us to improve the communication” “The whole process has proved to be a great way for everyone to gain greater internal visibility, leading us to work collectively to a better understanding on how our department ultimately contributes to the company value creation process” «Our TIPS» : “One of the biggest benefits from Internal IR is that we have begun to break down thinking silos inside our own department” • • • Source: Generali Group Communicate our value creation story Greater team engagement and transparency Fast and inexpensive implementation 18
19 Final TIPS It’s not only a CFO toy! It’s not just a report ! It’s our story made by our people! Source: Generali Group It’s a brand new way to live the company! The 3 Rs rule: • Reuse A single doc for different stakeholders • Reduce The number of pages • Recycle Apply the IR framework to different contexts
20 Mastering «C. A. O. S. » : where are you? Effectiveness Knowledge Development Path High S O pportunity trength Building a New Philosophy Providing IR Medium A wareness Delivering Vision Low C uriosity Low Source: Generali Group Improving Know-how Medium High Maturity of the organization
21 Generali Group at a glance Source: Generali Group
Creating Connections Welcome Influencing techniques Engaging key decision makers Putting it into practice Held in partnership with
Creating Connections Your task • We have a cheque of US$50, 000 to donate to one charity today • Each group will be allocated a charity • In 10 mins time, there will be a meeting of one representative of each group to discuss and decide which charity will get the money • Each group will be allocated two influencing styles to use in the meeting • The meeting will last 15 mins maximum with some “time-outs” if necessary • There will be a vote at the end to decide which charity gets the money Held in partnership with
Creating Connections Observers • What influencing style was used be each team? • What did they do well? • What could they have done differently? Make notes! Held in partnership with
Creating Connections Thank you! Held in partnership with
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