The Social Enterprise at Work · Veruschka Dyson Deloitte Human Capital Veruschka is an experienced...

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The Social Enterprise at Work Paradox as a Path Forward The compensation conundrum: principles for a more human approach

Transcript of The Social Enterprise at Work · Veruschka Dyson Deloitte Human Capital Veruschka is an experienced...

Page 1: The Social Enterprise at Work · Veruschka Dyson Deloitte Human Capital Veruschka is an experienced payroll professional from a systems as well as an operational perspective. She

The Social Enterprise at WorkParadox as a Path Forward

The compensation conundrum: principles for a more human approach

Page 2: The Social Enterprise at Work · Veruschka Dyson Deloitte Human Capital Veruschka is an experienced payroll professional from a systems as well as an operational perspective. She

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2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

HC Trends

Report

Revolution/

evolution

Leap

ahead

Resetting

horizons

Engaging the

21st-century

workforce

Leading in the

new world

of work

The new

organisatio

n: Different

by design

Rewriting

the rules for

the digital age

The rise of

the social

enterprise

Leading the

social

enterprise:

Reinvent with

a human focus

The social

enterprise

at work: Paradox as

a path forward

Performance

management

and rewards

Performance

management

puzzle

Performance

management

is broken

Performance

management:

Secret

ingredient

Performance

management:

Winning hand

New

rewards:

Personalized,

agile,

and holistic

Rewards:

Closing the

gap

The compensation

conundrum:

Principles for a

more human

approach

A D E C A D E O F H U M A N C A P I T A L T R E N D S

Before launching into the 2020 trend, we reflect on the forces that have shaped the world of work particularly around Culture, Engagement and Experience.

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Deloitte University Press | dupress.deloitte.com

Early Decade Mid Decade Late Decade

Recession

recovery

Cloud

Redesign jobs and

redesign work The social enterprise

Network

of teams

Low productivity

Revolutionary

technologies

Explosion of data

Exponential

change

New social

contract

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Our 2020 Perspective: This Year’s TrendsOur Trends are grouped into the three attributes of the social enterprise: purpose, potential, and perspective

Purpose Potential Perspective

Belonging: From

comfort to connection to

contribution

Superteams: Putting

AI in the group

The compensation

conundrum: Principles

for a more human

approach

Designing work for

well-being: Living and

performing at your best

Knowledge

management:

Creating context for a

connected world

Governing workforce

strategies: New

questions for better

results

The postgenerational

workforce: From

millennials to perennials

Beyond reskilling:

Investing in resilience

for uncertain futures

Ethics and the future

of work: From “could

we“ to “how should we”

F I N A L C H A P T E R : A Memo to HR

P R O L O G U E & I N T R O D U C T I O N

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Our final webinar in this seriesTake a closer look at the trends with Deloitte experts and guests in our webinar series.

U P N E X T :

Webinar 10| Super teams: Putting artificial intelligence (AI) in the group

Deloitte speaker: Hamish Wilson

Organisations that actively search for strategies to integrate AI into their workforce can produce

transformative business results. This event will look into how these ‘super teams’ operate and the

promise they hold of allowing organisations to reinvent themselves to create new value and meaning,

while giving workers the potential to reinvent their careers in ways that increase their value to the

organisation and the broader talent market.

Wednesday 12th August, 9am-10am | Visit our website to register here

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Introducing our speakersThe compensation conundrum: principles for a more human approach

Veruschka Dyson

Deloitte Human Capital

Veruschka is an experienced payroll professional from a systems as well as an operational perspective. She has worked in

HR/Payroll advisory field for over 8 years and is an experienced project manager in HRIS Cloud Technologies and SaaS offerings

by SAP HR/Payroll, SuccessFactors and Workday. Having led an Australia/ New Zealand payroll team in industry she has insights

to client challenges with compliance and how navigate through these. Her current area of interest in in Payroll Remediation

where she manages and leads a team to provide remedial payroll outcomes for organisations.

Kushla Rosser

Head of Operations, People and Strategy at TSB

Kushla is an experienced HR practitioner currently leading the HR Operations business unit of TSB’s People & Strategy division.

In her current role she is responsible for TSB’s remuneration, payroll, recruitment and HR operations practices.

Page 7: The Social Enterprise at Work · Veruschka Dyson Deloitte Human Capital Veruschka is an experienced payroll professional from a systems as well as an operational perspective. She

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Introducing our speakersThe compensation conundrum: principles for a more human approach

Ryan Ghisi

General Manager, Global People Programs at Xero

Ryan has worked closely with executive teams and boards at many large international organisations on strategy and initiatives

that drive employee attraction, engagement and retention. He has a passion for everything that impacts the employee

experience, including recognition, wellness, culture, career and development, flexible working, remuneration and rewards and

leadership.

Page 8: The Social Enterprise at Work · Veruschka Dyson Deloitte Human Capital Veruschka is an experienced payroll professional from a systems as well as an operational perspective. She

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The compensation conundrum

Page 9: The Social Enterprise at Work · Veruschka Dyson Deloitte Human Capital Veruschka is an experienced payroll professional from a systems as well as an operational perspective. She

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Principles for a

more human

approach To break the seemingly

endless cycle of

compensation reforms,

organizations need a path

forward that is anchored

not only on data and

benchmarks, but also in a set

of human principles. Those

principles allow organizations

to make

bold decisions based on a

perspective that goes beyond

numbers and reflects how

organizations value

individuals and how

individuals value

organizations.

T H E

C O M P E N S AT I O N

C O N U N D R U M

Page 10: The Social Enterprise at Work · Veruschka Dyson Deloitte Human Capital Veruschka is an experienced payroll professional from a systems as well as an operational perspective. She

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T H E C O M P E N S A T I O N C O N U N D R U M

Compensation- salary and wages-

accounts for up to 70% of an

organization’s total costs*

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plan to redesign it yet again

56%

64%A N D

have redesigned their

compensation strategy

in the past 3 years

T H E C O M P E N S A T I O N C O N U N D R U M

Compensation- salary and wages-

accounts for up to 70% of an

organization’s total costs

Which raises the question: Are we

approaching the design of compensation

correctly or will we continue to be caught in

the compensation conundrum?

Page 12: The Social Enterprise at Work · Veruschka Dyson Deloitte Human Capital Veruschka is an experienced payroll professional from a systems as well as an operational perspective. She

Deloitte Human Capital Trends 2020

The Compensation Conundrum

August 2020

Page 13: The Social Enterprise at Work · Veruschka Dyson Deloitte Human Capital Veruschka is an experienced payroll professional from a systems as well as an operational perspective. She

Pay Transparency

Deloitte Human Capital Trends 2020

Page 14: The Social Enterprise at Work · Veruschka Dyson Deloitte Human Capital Veruschka is an experienced payroll professional from a systems as well as an operational perspective. She

Pay Transparency SpectrumDeloitte Human Capital Trends 2020

Less Transparent More Transparent

Here’s What you get

paid

Here’s How we

approach pay Here’s Where your pay

falls

Here’s Why you’re paid

as you are & a plan for your development

Whoa! Here’s

everything about everyone’s pay

Here’s where we were Here’s where we

want to get to

Own Pay OnlyManager &

Employee Talk About Pay

Company Pay Philosophy

Market Data & Processes

Managers Empowered to

Talk Pay

Published Pay Ranges &

Grades

Everybody knows your

salary

Here’s where we want to be

Here’s where we are now

Here’s where we were

Here’s what we’ve been working on

Page 15: The Social Enterprise at Work · Veruschka Dyson Deloitte Human Capital Veruschka is an experienced payroll professional from a systems as well as an operational perspective. She

Pay Fairness

Deloitte Human Capital Trends 2020

Page 16: The Social Enterprise at Work · Veruschka Dyson Deloitte Human Capital Veruschka is an experienced payroll professional from a systems as well as an operational perspective. She

Pay Fairness Initiatives

Deloitte Human Capital Trends 2020

Gender Pay Equity Analysis

● We assess where we stand at least annually and review any unjustifiable pay gaps

● In 2019, Xero’s overall remuneration position vs the market median was 104% for both males and females

Annual Salary Review

● We review average salary increases for females and males

● In 2018 and 2019, females received slightly higher increases than males across all regions (closing the internal gap)

● Employees on parental leave are eligible for annual salary review

Career Progression

● Analysis to ensure males and females are progressing at the same rates

Diversity and Inclusion

● Ongoing comms / training in our hiring and promotion practices to build awareness of unconscious bias

Page 17: The Social Enterprise at Work · Veruschka Dyson Deloitte Human Capital Veruschka is an experienced payroll professional from a systems as well as an operational perspective. She

Pay, performance and progression

Deloitte Human Capital Trends 2020

Page 18: The Social Enterprise at Work · Veruschka Dyson Deloitte Human Capital Veruschka is an experienced payroll professional from a systems as well as an operational perspective. She

Pay, Performance and Progression Initiatives

Deloitte Human Capital Trends 2020

Performance and Pay

● Removed annual performance review in 2017

● Moved to regular 1:1s, with a focus on feedback, growth and development plans

● Performance is one factor as part of employees’ overall contribution, that informs pay, but doesn’t drive it

Progression and Pay

● Aside from annual salary review, we’re introducing a quarterly out-of-cycle review;

● Intended to recognise progression of employees’ skills, capabilities and competencies

● Intended to recognise that roles are evolving from a skills, capabilities, accountabilities perspective

Page 19: The Social Enterprise at Work · Veruschka Dyson Deloitte Human Capital Veruschka is an experienced payroll professional from a systems as well as an operational perspective. She

Questions ?

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Where you can find out more

COVID-19: A Human Capital

Trends special report

In light of the unique challenges

posed by COVID-19, the future

of work has become a strong

reality. The special report

discusses each of this year’s

Trends in the context of the

current business environment

Download the full report here

2020 Global Human Capital

Trends

This year’s report calls on

leaders to humanise the world

of work by addressing one of

the biggest challenges facing

businesses today – can

organisations remain distinctly

human in a technology-driven

world?

Download the full report here

To access the recordings and materials of HC Trends webinars, and to sign up for next weeks’ webinar:

please visit our website here.

Accessing the HC Trends Report & Webinar Material