The Social Enterprise at Work · Veruschka Dyson Deloitte Human Capital Veruschka is an experienced...
Transcript of The Social Enterprise at Work · Veruschka Dyson Deloitte Human Capital Veruschka is an experienced...
The Social Enterprise at WorkParadox as a Path Forward
The compensation conundrum: principles for a more human approach
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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.
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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.
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The compensation conundrum
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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
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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?
Deloitte Human Capital Trends 2020
The Compensation Conundrum
August 2020
Pay Transparency
Deloitte Human Capital Trends 2020
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
Pay Fairness
Deloitte Human Capital Trends 2020
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
Pay, performance and progression
Deloitte Human Capital Trends 2020
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
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