RN retention -how to reduce rn turnover with effective total rewards, final

RN Retention: How to Reduce RN

Turnover with Effective Total

Rewards

Guest Presenter: Tony KerekesCHRL| NVision Consulting LTD.

Webinar & Podcast Series

AGENDAThe Series

HealthcareSoftwareHubwebinar & podcast series

Healthcare Software Series

AGENDAWebinar Info

We are informal (and fun)

Ask Questions!

Q&A Session at end

HRCI Credit

Slides will be available after


AGENDAAGENDA

Talent Management for Healthcare

Recruiting

Compensation & Total Rewards

HR Service Delivery

The Sponsor

Thank You to our Webinar Sponsor!


HealthStream.com

AGENDAThe Speaker

Tony Kerekes

In twenty years of consulting, Tony has completed over

two hundred consulting initiatives - providing strategic

and implementation guidance for a wide variety of

industries and sectors from aviation, hospitality,

manufacturing to technology. His clients range from

growth companies to Fortune 500. He works with senior

leaders and alongside HR to understand challenges,

develop and lead initiatives in structure, compensation,

rewards, performance management, change, process

and organizational effectiveness.

Prior to starting NVision Consulting, Tony served on the

management team of a national retailer and previously

managed benefits, pension, and communication in

financial services.

He frequently presents at industry forums, is active on HR

Boards and committees and currently teaches

compensation at the University of Toronto.


Committed People. Infinite Possibilities.

How to Increase the Perceived Value of Your Total Rewards

Tony Kerekes

NVision Consulting Ltd.

416-406-2308

© 2017

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Session Outline/Outcomes

• Keys to building an effective total rewards engagement strategy (for employees, contractors and freelancers)

• How to turn total rewards into retention

• How to develop a calendar of just-in-time communication (that you can keep up with)

• Tips and strategies for communicating total rewards to today’s workforce

• How to leverage varied communication styles and approaches

• You signed up to have a few tips or nuggets to try!

© 2011 (416) 466-3010

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Why Communicate?

?

Raise The Perceived Value

© 2011 (416) 466-3010

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We Have To But Low Response/Complex

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Drive Business Goals – KISS Dashboards

• Connect business plan and bonus

• Align sales comp plan with goals and CRM

• Practical Examples:

Performance management

Celebrate goals visibly like LTA

Recognize desired behaviours

© 2011 (416) 466-3010

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Raise Perceived Value

• Quantify and compare

Manage employees’ perceptions (hard to value “Total Comp”)

Communicate philosophy (e.g. competitive, market leader)

If there is trust, its believed, if not – bigger issues

• Advertise the “product” – the recruiters do with theirs

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Raise Perceived Value - Managers

• The surveys say...

Best way to get a raise – switch employers?

Poor link between good performance and pay increases - low pay differentials – do you pay 5X

Pay administration could be better (Steve Carrell)

Rank work/life as #1 or #2 reason in taking a job – are your managers your rewards brokers? Give them tools to KYC.

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Raise Perceived Value - Rewards

Total Value Statement – Employee vs Contractor

Base

+ Bonus pay

+ Government benefits

+ Time off

+ Benefits

+ Pension

+ Other (L&D, enviro)

= Total

100%________

________

________

________

________

________

________

________

Paid Degree

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Breaking through the Barriers to Communication

?

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Ask Employees – Set Goals

• How employees perceive the current program

• How well they understand it

• How they get information about pay and benefits (formal and informal)

• What are their communication preferences?

• Tools: surveys, focus groups, interviews, anecdotes

• Set goals to improve (SMART)

© 2011 (416) 466-3010

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Identify Audiences and Needs

• Identify the needs and characteristics at each target audience (including concerns, sensitivities, dual roles, etc.)

• Consider learning styles (giving directions) and focus eg USA Today

• Look at demographic bands - age, level, salary, other

• Consider the effect you want to create.

• Consider contractors/freelancers

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Poll Question

Are you currently using contractors/freelancers

in your department?

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Reaching “Mobile” Employees

• Look at novel ways to reach employees without a desk

Online

Cafeteria tray liners

Parking/shuttles/cars

Podcasts

• Consider contractors/freelancers – new talent pool

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Lead The Work

SHRM study of C-Level executives, including HR executives, in

which 40 percent anticipated that a non-

traditional employment model (or project-

based employment) would be the employment

model in the next decade.

© 2011 (416) 466-3010

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Lead The Work

• Marketing has used freelancers for years

• Can deconstruct roles like JE eg compensation manager

Other

High End

WorkLow end

Work

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Make it Visual

• Headlines get 5 times the readership

• Twice as many people read photo captions

• Headlines, subheads, menus and bold text should tell the reader what is being explained in the text

• Illustrations and graphics — simple & catch the eye

• Look beyond the individual page - telling a story (deal pitches)

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KISS – The One Minute News Cast

• Promise the reader:

a benefit (WIIFM)

news

helpful information

• Make your promise specific, for example:

“With the improved incentive plan, your income could increase by 10%. Let’s see how.”

or

“No one will be disadvantaged by this change.”

KISS - “Short words are best, and the old

words when short are best of all”

W. Churchill

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Use Characters

• Rather than a complex pension formula, use an identifiable character, e.g.a “Rick”

• Employees can generalize personal circumstances from the character presented. Therefore, the characters should be:

Specific (provide details)

Relevant to audience (age, income)

Easy to understand

http://www.maytag.com/

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How is Your TR Content Organized

Build e-bridges among HR dept functions to showcase TR

401K Work ExpLearning Policy Benefits

HR

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RN retention -how to reduce rn turnover with effective total rewards, final

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