Rahul sharma

Attraction of employees

Total Package & Audits

BenchmarkingAnd Surveys

RewardOnline

Payscales

Role Profiles and Job Evaluation

Role Profiles and Job Evaluation

Performance Management

WorkflowTalent & Career

ManagementL.T.I.

S.T.I.

H.R. and Remuneration Strategy for attraction

Employee Value Proposition / Retention

IncentivesAttraction

and Retention

Strategy &Policy

Strategy &Policy

Great Organisations

•Sustain performance

•Engage employees

Define themselves in the market

Effective Individuals

•Are focused and disciplined

•Are trustworthy

•Possess judgement•Are proactive

Inspired Leaders

•Engender trust

Clarify purpose

Unleash talent

ttracting The Talent

The number of Engineers

and Artisans that Eskom

lost last year

The number of positions

which cannot be filled from

within the country because

of the current skills

shortage.

Shortfall of qualified

medical practitioners

worldwide

efinition and ontextefinition and ontext

WHAT IS Attraction ?

quick viewquick view

 attraction

‘’attraction is an uncontrollable response that just happens to what we are drawn to that even goes against what we prefer or

thought we preferred’’.

urrent urrent rendsrends

Turnover increasing exponentially (as high as 23% in some industry sectors)

attraction focus shifting from guaranteed remuneration and short term incentives to training and development,

recognition and long term incentives

Performance linked remuneration becoming more popular/increase in formal performance management

system.

An increasing number of organisations are offering Long Term Incentives to employees below middle management in an attempt to attract them

A large number of organisations are paying premiums to various skill categories/job families. Ranges btw 7.5 –

40% (usually dependant on scarcity of skill)

Remuneration more effective at attraction Top to Senior Management. Below senior mgmt, recognition and personal development are becoming increasingly

important

Yet . . . . . . .

Only 28% of organisations in a recent survey including some of the top organisations in SA have a formal

attraction policy/ strategy in place, the majority of which have only implemented

this since 2005

Guaranteed Package

Lack of career development

Relationship with immediate boss

Work Life balance

Flexibility

HE EFFECTIVENESS OF PAY IN ATTRACTING TALENT

• The majority of organisations still use pay as their primary attract vehicle

• The number one reason in Exit Interviews for employees leaving organisations is “for more money”

ew rendsew rends

1. Informal reward and recognition2. Flexible benefits where appropriate3. Talent management strategies4. Sign-on bonuses/loans5. Work from home policies6. Succession planning and knowledge sharing policies7. Tailoring retention options to the employee profiles of the

organisation (profile-fit reward models)8. Above average voluntary benefits to create niche

environment

ey success factorsey success factors1. Involve employees – survey/focus groups2. Communication, Communication, Communication3. Holistic approach but focus on “burning platforms” and

“quick wins”4. Identification of Hot Skills needs to be signed off at

executive level. Foolproof process5. Create higher level of understanding w.r.t. value

employees receive6. Detailed Implementation Plan7. Be seen to be doing something

Ho should qualify?Ho should qualify?

• “Hot skill” positions in the market

• Turnover – staff attrition• Hiring Cycle

Attraction and retention strategies often target specific roles within an organisation. This enables organisations to attract and

retain key talent critical to organisational competency.

ttraction ptionsttraction ptions

Market Stance Hot skills treatment Restraint of trade payments Sign-on bonuses/Retention bonuses Sign-on loans Extended pension arrangements Flexibility Short-term incentives Long-term incentives Deferred compensation Rolling or banking of incentives earned

lternatives to cashlternatives to cash• Alternative (flexible) working arrangements

Compressed work weekFlexi-timeJob sharingPart-time workFlexi-place

• Sabbatical Leave

• Voluntary benefits

• Psychological Contracts

sychological ontract sychological ontract

From To

THANK YOU

for this opportunity Rahul sharma

to be present with you