The Employee Value Proposition
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Transcript of The Employee Value Proposition
Committed People. Infinite Possibilities.
The Employee Value
Proposition
Guest Presenter: Tony KerekesNVision Consulting Ltd.
TalentTakeawayswebinar & podcast series
AGENDAThe Series
TalentTakeawayswebinar & podcast series
Talent Takeaways Series
AGENDAAGENDAThe Sponsor
Talent Takeaways Series
Talent Management Made for Managers
Compensation Planning Total RewardsStay Interviews
Committed People. Infinite Possibilities.
How to Increase the Perceived Value of Your Total Rewards
Tony KerekesNVision Consulting Ltd.416-406-2308
© 2011
© 2011 (416) 466-30105
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) 466-30106
Why Communicate?
?
Raise The Perceived Value
© 2011 (416) 466-30107
We Have To But Low Response/Complex
© 2011 (416) 466-30108
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) 466-30109
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
© 2011 (416) 466-301010
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.
© 2011 (416) 466-301011
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
© 2011 (416) 466-301012
Breaking through the Barriers to Communication
?
© 2011 (416) 466-301013
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) 466-301014
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
© 2011 (416) 466-301015
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) 466-301016
Lead The Work
• Marketing has used freelancers for years• Can deconstruct roles like JE eg compensation
manager
Other
High End
WorkLow end
Work
© 2011 (416) 466-301017
Offer and Communicate TR to HIPO Pool?
17
Eg Wonolo
© 2011 (416) 466-301018
Identify Tactics and Tools
?
© 2011 (416) 466-301019
Planning – Provide a Roadmap
© 2011 (416) 466-301020
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)
© 2011 (416) 466-301021
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
© 2011 (416) 466-301022
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
© 2011 (416) 466-301023
How is Your TR Content Organized
Build e-bridges among HR dept functions to showcase TR
401K Work ExpLearning Policy Benefits
HR
© 2011 (416) 466-301024
Summary – Connect Dots
?
AGENDAAGENDA NVision Consulting Ltd.
Talent Takeaways Series
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