A totally rewarding experienceby Toronto Training and HRApril 2013
Contents3-4 Introduction to Toronto Training and HR5-6 Definition7-8 Identifying characteristics9-10 Types of rewards11-12...
Page 3Introduction
Introduction to Toronto Trainingand HR• Toronto Training and HR is a specialist training andhuman resources consultancy he...
Page 5Definition
Definition• What is total reward?• The total rewards model• Goals for developing a totalreward philosophy• Objectives of a...
Page 7Identifying characteristics
Identifying characteristics• Program• ValuePage 8
Page 9Types of rewards
Types of rewards• Foundational rewards• Performance-based rewards• Career and environmentalrewardsPage 10
Page 11Attraction and retentiondrivers
Attraction and retention drivers• All employees• High-potential employees• Generational differences• EngagementPage 12
Page 13Things to understand
Things to understand• What really drives theworkforce• The relationship betweentotal rewards and theemployee value proposi...
Page 15Measures
Measures• Cost v budget• Employee engagement• Employee turnover• Rate of cost increase• SMART business objectives• Employe...
Page 17Strategies and brands
Strategies and brandsPage 18
Page 19Risk assessment
Risk assessment• Alignment risk• Execution risk• Financial risk• Regulatory risk• Risk mitigationPage 20
Page 21What should a strategyaddress?
What should a strategy address?1 of 2• Strategic perspective• Statement of overallobjectives• Prominence• Performance meas...
What should a strategy address?2 of 2• Degree of internal equity andconsistency• Communication andinvolvement• GovernanceP...
Page 24Allocating resources
Allocating resources 1 of 2GOING UP• Wellness programs• Manager coaching• Training• Career developmentPage 25
Allocating resources 2 of 2GOING DOWN• Retiree medical• Pension• Healthcare• Concierge servicesPage 26
Page 27What do high-performingorganizations do?
What do high-performanceorganizations do?• Articulate strategies andobjectives• Balance more inputs fordecision-making• Co...
Page 29Variable pay metricoptions
Variable pay metric options• Sales programs• HR related programmeasures• Production performancePage 30
Page 31The linkage model
The linkage model• People systems andprograms• Employee behaviour• Customer behaviour• Financial performancePage 32
Page 33Four quadrant model
Four quadrant modelPage 34Environment DevelopmentBenefits Compensation
Page 35Applying six sigmamethodology
Applying six sigma methodology• Define• Measure• Analyze• Improve• ControlPage 36
Page 37Phases of change
Phases of change• Catching up• Moving forward• Pulling aheadPage 38
Page 39Mediocre execution
Mediocre execution• Navigating without a map-noclear link to business strategy• Navigating without acompass-not relying on...
Page 41Barriers to be overcome
Barriers to be overcome• Little or no awareness of totalrewards objectives• Leaders not being aligned• Cultural barriers• ...
Page 43Sales incentive designmistakes
Sales incentive design mistakes1 of 2• Trying to keep everybody happy• Failing to separate novices fromveterans• Negative ...
Sales incentive design mistakes2 of 2• Leaving top management out ofthe plan• Being a do-gooder• Being inflexible• Hoping ...
Page 46Factors to move theprofession forward
Factors to move the professionforward• Enhancing employeeengagement• Quantifying HR impact• Effectively communicating• Tyi...
Page 48Case studies
Page 49Conclusion and questions
Page 50Conclusion and questions• Summary• Videos• Questions
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Total Reward April 2013

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Half day open training event on total reward held in Toronto, Canada.

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Total Reward April 2013

  1. 1. A totally rewarding experienceby Toronto Training and HRApril 2013
  2. 2. Contents3-4 Introduction to Toronto Training and HR5-6 Definition7-8 Identifying characteristics9-10 Types of rewards11-12 Attraction and retention drivers13-14 Things to understand15-16 Measures17-18 Strategies and brands19-20 Risk assessment21-23 What should a strategy address?24-26 Allocating resources27-28 What do high-performing organizations do?29-30 Variable pay metric options31-32 The linkage model33-34 Four quadrant model35-36 Applying six sigma methodology37-38 Phases of change39-40 Mediocre execution41-42 Barriers to be overcome43-45 Sales incentive design mistakes46-47 Factors to move the profession forward48 Case studies49-50 Conclusion and questions
  3. 3. Page 3Introduction
  4. 4. Introduction to Toronto Trainingand HR• Toronto Training and HR is a specialist training andhuman resources consultancy headed by Timothy Holden• 10 years in banking• 10 years in training and human resources• Freelance practitioner since 2006• The core services provided by Toronto Training and HRare:• Training event design• Training event delivery• Reducing costs, saving time plus improvingemployee engagement and morale• Services for job seekersPage 4
  5. 5. Page 5Definition
  6. 6. Definition• What is total reward?• The total rewards model• Goals for developing a totalreward philosophy• Objectives of a framework• Priorities for 2013Page 6
  7. 7. Page 7Identifying characteristics
  8. 8. Identifying characteristics• Program• ValuePage 8
  9. 9. Page 9Types of rewards
  10. 10. Types of rewards• Foundational rewards• Performance-based rewards• Career and environmentalrewardsPage 10
  11. 11. Page 11Attraction and retentiondrivers
  12. 12. Attraction and retention drivers• All employees• High-potential employees• Generational differences• EngagementPage 12
  13. 13. Page 13Things to understand
  14. 14. Things to understand• What really drives theworkforce• The relationship betweentotal rewards and theemployee value proposition• How to develop programsthat balance cost andemployee valuePage 14
  15. 15. Page 15Measures
  16. 16. Measures• Cost v budget• Employee engagement• Employee turnover• Rate of cost increase• SMART business objectives• Employee satisfactionPage 16
  17. 17. Page 17Strategies and brands
  18. 18. Strategies and brandsPage 18
  19. 19. Page 19Risk assessment
  20. 20. Risk assessment• Alignment risk• Execution risk• Financial risk• Regulatory risk• Risk mitigationPage 20
  21. 21. Page 21What should a strategyaddress?
  22. 22. What should a strategy address?1 of 2• Strategic perspective• Statement of overallobjectives• Prominence• Performance measures• Competitive market referencepoints• Competitive positioningPage 22
  23. 23. What should a strategy address?2 of 2• Degree of internal equity andconsistency• Communication andinvolvement• GovernancePage 23
  24. 24. Page 24Allocating resources
  25. 25. Allocating resources 1 of 2GOING UP• Wellness programs• Manager coaching• Training• Career developmentPage 25
  26. 26. Allocating resources 2 of 2GOING DOWN• Retiree medical• Pension• Healthcare• Concierge servicesPage 26
  27. 27. Page 27What do high-performingorganizations do?
  28. 28. What do high-performanceorganizations do?• Articulate strategies andobjectives• Balance more inputs fordecision-making• Connect to the organizationand employees• Define effectivenessdifferently• Earn better outcomesPage 28
  29. 29. Page 29Variable pay metricoptions
  30. 30. Variable pay metric options• Sales programs• HR related programmeasures• Production performancePage 30
  31. 31. Page 31The linkage model
  32. 32. The linkage model• People systems andprograms• Employee behaviour• Customer behaviour• Financial performancePage 32
  33. 33. Page 33Four quadrant model
  34. 34. Four quadrant modelPage 34Environment DevelopmentBenefits Compensation
  35. 35. Page 35Applying six sigmamethodology
  36. 36. Applying six sigma methodology• Define• Measure• Analyze• Improve• ControlPage 36
  37. 37. Page 37Phases of change
  38. 38. Phases of change• Catching up• Moving forward• Pulling aheadPage 38
  39. 39. Page 39Mediocre execution
  40. 40. Mediocre execution• Navigating without a map-noclear link to business strategy• Navigating without acompass-not relying on harddata and metrics• Navigating without radar andsonar-not hearing the voiceof the employeePage 40
  41. 41. Page 41Barriers to be overcome
  42. 42. Barriers to be overcome• Little or no awareness of totalrewards objectives• Leaders not being aligned• Cultural barriers• Organization structure changes• Budget constraints• HR structure, governance anddecision rights• HR resource constraints• Global framework• Local application
  43. 43. Page 43Sales incentive designmistakes
  44. 44. Sales incentive design mistakes1 of 2• Trying to keep everybody happy• Failing to separate novices fromveterans• Negative reward on highproductivity• Targeting prizes towards entiresales force• Planning a contest with no salesforce inputPage 44
  45. 45. Sales incentive design mistakes2 of 2• Leaving top management out ofthe plan• Being a do-gooder• Being inflexible• Hoping for X whilst rewarding Z• Forgetting that good salespeoplealways work for their own goodfirstPage 45
  46. 46. Page 46Factors to move theprofession forward
  47. 47. Factors to move the professionforward• Enhancing employeeengagement• Quantifying HR impact• Effectively communicating• Tying rewards to strategyPage 47
  48. 48. Page 48Case studies
  49. 49. Page 49Conclusion and questions
  50. 50. Page 50Conclusion and questions• Summary• Videos• Questions

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