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Retaining talent through reward

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Presentation given at the CIPD Recruitment & Retenion Conference 2007

Presentation given at the CIPD Recruitment & Retenion Conference 2007

Published in: Health & Medicine, Business

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  • 1. Retaining Talent Through Reward Tom Russell Director of Strategic Resourcing & Reward
  • 2. Who are we? Formed from merger of ICRF & CRC in 2002 World’s leading organisation dedicated to cancer research Largest single funder of cancer in the UK Annual spend on science in excess of £300m Over 90 anti-cancer agents into clinical trials
  • 3. Cancer Research UK 3700 people across the UK 70% permanent staff Research Average age 40 years Average service 6 years Infra- Structure1 P&C2 Fundraising Annual staff turnover 17% Retail IPE3 Corporate Resources & POD 1 2 Policy & Communications 3 Information & Public Engagement
  • 4. Strengthening Strengthening Approaches reward reward knowledge knowledge Broadening Communicating Communicating Broadening benefits the “deal” the “deal” benefits Reward Reward Work Work philosophy philosophy environment environment & strategy & strategy Competitive Shifting Competitive Shifting bench- perceptions bench- perceptions marking of the offer marking of the offer Developing Developing recognition recognition
  • 5. Strengthening Strengthening Approaches reward reward knowledge knowledge Broadening Communicating Communicating Broadening benefits the “deal” the “deal” benefits Reward Reward Work Work philosophy philosophy environment environment & strategy & strategy Competitive Shifting Competitive Shifting bench- perceptions bench- perceptions marking of the offer marking of the offer Developing Developing recognition recognition
  • 6. Reward Philosophy A competitive position that will attract and retain high quality talent A link to clear standards of contribution A recognition of excellence An emphasis on the total reward offering Fairness that comes from a transparent, open system Flexibility and allowances for differences
  • 7. Reward Principles – Priority Focus Competitive Position Standards of Contribution Fairness & Open System Flexibility U R & Difference Recognition G of Excellence E Total Reward N C Offering Y IMPACT
  • 8. Science Pay & Grading contribution based pay Shift to Clarity of message Salary increase “not a right” Designed to retain strong performers
  • 9. Strengthening Strengthening Approaches reward reward knowledge knowledge Broadening Communicating Communicating Broadening benefits the “deal” the “deal” benefits Reward Reward Work Work philosophy philosophy environment environment & strategy & strategy Competitive Shifting Competitive Shifting bench- perceptions bench- perceptions marking of the offer marking of the offer Developing Developing recognition recognition
  • 10. ‘I don’t do charity’ ‘Six out of 10 employees working in the commercial sector believe that the not- for-profit sector has shed its “cardigan brigade” label and offers strong career prospects.’ Personnel Today/Forum 3
  • 11. “The Candidate Experience” What are the drivers 1. The Role for joining us? Culture 2. The Sector Personal Development Our Science The Cause
  • 12. Exploring the “deal” in POD 30% turnover in 2005/6 ! Perception Reality Civil service Low budget culture Professional Small Passionate +Work/life balance
  • 13. Exploring the “deal” in POD 30% turnover in 2005/6 ! Perception Reality Challenging Commercial Bureaucratic Professional Large Hardworking Passionate Complex
  • 14. Exploring the “deal” in POD 16% reduction in turnover in 2006/7 Perception Reality Supplier Engagement Intro to POD Job Family Review re n og k i ss pr or W
  • 15. Strengthening Strengthening Approaches reward reward knowledge knowledge Broadening Communicating Communicating Broadening benefits the “deal” the “deal” benefits Reward Reward Work Work philosophy philosophy environment environment & strategy & strategy Competitive Shifting Competitive Shifting bench- perceptions bench- perceptions marking of the offer marking of the offer Developing Developing recognition recognition
  • 16. Our Current Rewards & Benefits Location Season Ticket Life Assurance Employee Savings EAP Cycle2Work CCV Pension Annual Leave Salary
  • 17. Shifting perceptions
  • 18. Strengthening Strengthening Approaches reward reward knowledge knowledge Broadening Communicating Communicating Broadening benefits the “deal” the “deal” benefits Reward Reward Work Work philosophy philosophy environment environment & strategy & strategy Competitive Shifting Competitive Shifting bench- perceptions bench- perceptions marking of the offer marking of the offer Developing Developing recognition recognition
  • 19. 5% staff turnover at our Clare Hall laboratories Up to Collaboration designed into new CRI building
  • 20. Turnover @ CR-UK Fundraising 23% (25%) Cancer Research UK17% POD 25% (30%) Corp Res 16% (25%) Secretariat 11% (28%) Science 11% (6%) P&C 23% (12%) Leavers with less than 6 months service11%
  • 21. Learning Points Diverse organisation = complex set of reward drivers Fewer reward levers = more holistic approach Reward must collaborate to influence retention Simple opportunities can have a positive effect Dialogue on the “deal” can be rewarding in itself
  • 22. Together we will beat cancer tom.russell@cancer.org.uk