Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Webinar: Retention Schemes And 9 Box Techniques

689 views

Published on

For other Informa Webinars: http://www.informa-mea.com/webinars
To view recording: https://youtu.be/QjOYV5vNbQ0 or watch the video at end of the slide

In today’s HR world, retaining the top performers in any organisation is an increasingly critical and challenging goal, and traditional compensation tools may not be enough. So many organisations are now introducing 3-year retention bonus schemes to help in retaining the most critical top-performing employees. This webinar explains what retention bonus schemes are, and explains in a simple step-by-step method how to implement a 3-year retention bonus scheme, including how to use various 9-box techniques to identify the most critical 5% of your employees who need to be retained and who should be included in the retention bonus scheme.

This webinar presentation will cover the following:

• Latest approaches for retention schemes in the GCC
• Using 9-box techniques for talent management and retention
• The three “Ps” of retention:
- Retention for Potential (Key employees and/or Nationals)
- Retention for Pressure (Projects and deliverables)
- Retention for Pain (Mergers and acquisitions)
• Retention bonus payments
• Open Q&A session

About the Presenter:
Robert Mosley is a Global Remuneration Expert and Consultant and he is the CEO and Owner of Lemon Pip Consulting Limited. He is widely recognised in many industries and many countries as one of the leading global experts on compensation and benefits in all sectors across the GCC, and is also a leading expert in the more general field of human resources within the aviation and airline sectors.

Robert, a Fellow of the Chartered Institute of Personnel and Development, has 28 years of experience in HR and C&B, 20 years of which were in the Middle East. He was the head of the Middle East practice with Hay Group in 1988-1990 before joining the Emirates Group and later promoted to the role of SVP Human Resources. He spent 13 years with Emirates Group, before establishing his own remuneration consulting business, Lemon Pip Consulting Limited, where he is working with over 400 companies in the Middle East and 80 airlines globally.

Published in: Education

Webinar: Retention Schemes And 9 Box Techniques

  1. 1. © Lemon Pip Consulting Limited Managing Retention Schemes In The GCC Tuesday, 17 May 2016 16:30 – 17:30 hrs (UAE time) Presentation by: Robert Mosley
  2. 2. © Lemon Pip Consulting Limited About the HR Observer • The HR Observer is an initiative by Informa Middle East aimed at becoming a platform for HR professionals in the Middle East to exchange insights and expertise, both online and offline, in an effort to take the HR industry forward in the GCC region. • The initiative features a blog, LinkedIn group, Twitter feed, online webinars and a series of offline informal networking functions.
  3. 3. © Lemon Pip Consulting Limited Housekeeping • Please wait to the end of the session to type questions • Time will be allocated at the end to address questions • The slides will be available on our SlideShare page for the next four weeks, and the link will be emailed to you • The webinar recording will be available for the next four weeks, and the link will be emailed to you • Please take time to complete the post-webinar survey that will pop-up at the end of this webinar
  4. 4. © Lemon Pip Consulting Limited Today’s Presenter Robert Mosley is one of the leading global experts on compensation and benefits in all sectors across the GCC. He was head of the Middle East practice with Hay Group in 1987-1990 before joining the Emirates Group to later become the SVP Human Resources. He spent 13 years based in Dubai at Emirates Group, before starting his own compensation consulting business, Lemon Pip Consulting, where he is working with over 400 companies in the Middle East and 80 airlines globally.
  5. 5. © Lemon Pip Consulting Limited Retention Schemes in the GCC and 9-Box Techniques Presentation Facilitator: Robert Mosley Location: Webinar by Informa Presentation Title: Retention Schemes in the GCC Contact Email: robert@lemon-pip.com Presentation Date: Tuesday 17th May 2016 Presentation Time: 16:30 to 17:30 (UAE)
  6. 6. © Lemon Pip Consulting Limited Robert Mosley: 1980-1983: MA in Mathematics at Oxford University 1983-1985: MBA in Business Studies at London Business and Chicago Business School 1985-1990: Hay Group Management Consultants (UK and UAE) 1990-2003: Emirates Airline Group in UAE (Senior Vice President Human Resources) 2003-2005: Qatar Airways in Qatar (Group General Manager Human Resources) 2007-2009: Travelport-Galileo in UK (Group Vice President Global Reward) 2003-: Fellow of the Chartered Institute of Personnel and Development (FCIPD) 2005-: CEO of Lemon Pip Consulting (Reward and HR Consulting in GCC) 2015-: Master Trainer for CIPD and Member of “CIPD Reward Advisory Board” Lemon Pip Consulting Limited: Specialism: Reward Consulting and Training Courses in Total Reward Management Main Services: Grading, Compensation, Performance Management, Pay for Performance GCC Clients: Over 400 clients globally (mainly in the Middle East and Asia) Email: robert@lemon-pip.com Your Seminar Leader: Robert Mosley
  7. 7. © Lemon Pip Consulting Limited (1) WHERE DOES RETENTION START ? Retention starts with recruitment, so get the following right at recruitment: • 1st interview of recruitment based mainly on technical competences • 2nd interview of recruitment based mainly on behavioural competencies • Psychometric test to help ensure a good person-job fit (eg: MBTI)
  8. 8. © Lemon Pip Consulting Limited Retention continues with in-job employment, especially fair and equitable remuneration, so get pay right and competitive: • Clear pay strategy and payscales that are market-competitive • Clear job description for each job setting out the accountabilities and KRAs • Clear performance goals for each job where the KPIs are linked to the KRAs • Clear communications so each employee knows what is expected of them • Develop a company competency framework and identify the critical 6-8 competencies for each job (of which 3-4 might be “core” to reflect values) • Clear HR policies and procedures manual, so that each employee knows their rights and what they can expect from the company • Use the “golden triangle” of managing remuneration and ensure that HR is following best-practice in all areas (2) WHAT FACTORS WILL ENCOURAGE RETENTION ?
  9. 9. © Lemon Pip Consulting Limited JOB PERFORMANCE MARKETPERSON $ ODJOB DESC JE GRADESKRAs KPIs GOALS OBJECTIVES BEHAVIOURS COMPETENCIES APPRAISALS PAY-REVIEW & BONUS PAY STRATEGY PAY SURVEYS BENCHMARK PAY RANGES & ALLOWs JEJA RATINGS (2) USING REMUNERATION TO AID RETENTION
  10. 10. © Lemon Pip Consulting Limited Retention continues with career development and engagement: • A development plan every year for each and every employee • Developing managers to give good feedback, and be good at coaching • Identifying the issues that motivate each employee • Having an objective performance appraisal system that can identify the top 5% “outstanding” and the top 30% “excellent” • Having a “HiPo” career development programme for the top 5%-10% of employees who are the identified high-performers (“High-Potential”) • Conduct employee opinion surveys every 2-3 years and find out about their feelings on employment with the company • Monitor “attrition” (voluntary resignations) and “turnover” (total churn) and start to get worried if attrition rises above 10% or turnover rises above 15% (3) CAREER DEVELOPMENT AND ENGAGEMENT
  11. 11. © Lemon Pip Consulting Limited (4) UNDERSTANDING EMPLOYEE MOTIVATION • 80% Desire to Maintain Good Work Reputation • 79% Enjoy Working with the Manager or Boss • 75% Importance of Work • 66% Appreciation and Recognition from Others • 62% Existing Financial Reward • 55% Opportunity to Prove Capabilities to Others • 50% Interesting Work • 45% Opportunity to Prove Capabilities to Self • 40% Employment Benefits • 35% Enjoyable Co-Workers and Colleagues • 30% Expectation of Improved Career Prospects and Promotion • 20% Personal Desire to Please Manager/Supervisor • 15% Expectation of Future Financial Reward • 10% Fear of Negative Consequences
  12. 12. © Lemon Pip Consulting Limited (4) UNDERSTANDING TOP-PERFORMER MOTIVATION • 89% Job Tailored to Match Individual Abilities and Interests • 88% Base Pay Above Market Average • 87% Existing Financial Reward • 85% Opportunities to Learn New Skills in Current Job • 84% Opportunities for Promotion • 82% Flexible Work Schedules • 58% Desire to Maintain Good Work Reputation • 48% Enjoy Working with the Manager or Boss • 36% Interesting Work • 32% Expectation of Improved Career Prospects and Promotion • 31% Employment Benefits
  13. 13. © Lemon Pip Consulting Limited Above all else, retention is absolutely critical for the top 5%-10% of your high-performers, so you must get the following right: • Ability to identify the top 5%-10% of employees who must be retained using the 9-Box techniques • Implement a 3-year “retention bonus scheme” to retain the top 5%-10% of employees who are deemed to be critical for the future (5) RETENTION CASH-BONUS SCHEMES
  14. 14. © Lemon Pip Consulting Limited (5) RETENTION CASH-BONUS SCHEMES 3-Year Scheme that is Highly Selective and Highly Secretive Managed by Head-of-HR Personally Head-of-HR Meets with Each Head-of-Department Individually Aiming to Identify about 5%-10% of Employees for Retention WHO ? Selected Employees get a Personal Letter from Head-of-HR Letters are Kept by Head-of-HR (Not Employee File) If Employee Tells Anyone, then it is cause for “Gross Misconduct” Employee is Offered “Career Development” and “Retention Bonus” Employee Must Not Resign for 3-Years and Must Meet Expectations If Employee Keeps Their Promise, then they get a Retention Bonus Payments are Processed by CFO as an Ex-Gratia Cheque (Not Payroll) HOW MUCH ?
  15. 15. © Lemon Pip Consulting Limited (6) WHO? RETENTION AND TALENT MANAGEMENT Link “Reward” with “Retention and Talent Management” Who Is Selected for Retention Schemes? Link “Reward” with “Retention and Talent Management” Using the 9-Box Techniques and “Double Greens” 9-Boxes Techniques: • Talent Management (Potential) • Flight Risk (Retention)
  16. 16. © Lemon Pip Consulting Limited High Low High Performance Potential 9-Box: Talent Management And Performance What does your talent profile look like for your key people in relation to performance and potential? Notes: • Ratings should be relative to top performing benchmarks in general, not to the team in particular • Those in the top right hand box should only include the very highest performers with high potential High Potentials (may be too early to determine Performance) Low Performers Low Potentials Good Performers High Performers High Potentials Good Performers (may be locking roles for low future potential people) (6a) RETENTIONROTATION REWARD COACHING DO NOTHING
  17. 17. © Lemon Pip Consulting Limited High Low High Likelihood Impact Low Moderate High Notes: Please evaluate the likelihood and potential impact of your people risks. These risks should include risks associated with: • functions • teams • individuals Those risks considered to be in the “High” category require mitigating action plans (see following page) 9-Box Retention and Flight Risk Cabinet Evaluate the risks associated with people & capability in your: • Top team • Business critical roles • Leadership succession (6b) RETENTION SUCCESSION ENGAGE (Coach/Develop) REWARD DO NOTHING (Farewell Party)
  18. 18. © Lemon Pip Consulting Limited (7) RETENTION SCHEMES The Three “Ps” of Retention: Retention with Potential (Key Contributors) Retention with Pressure (Key Projects) Retention with Pain (Key Mergers with Risk)
  19. 19. © Lemon Pip Consulting Limited (7) HOW MUCH? SUMMARY ON RETENTION MONEY Retention with Potential (Key Contributors): 15%-25% of Basic Salary Retention with Pressure (Key Projects): 25%-33% of Basic Salary Retention with Pain (Key Mergers with Risk): 33%-50% of Basic Salary
  20. 20. © Lemon Pip Consulting Limited (8) COMING SOON – FUTURE DATES Tuesday 24th May: Webinar at 16:30pm on “Competencies”. Tuesday 31st May and Wednesday 1st June: 20th Annual Middle East C&B Forum in Dubai.
  21. 21. © Lemon Pip Consulting Limited (9) ANY QUESTIONS ? Any Questions ? Or contact me for future consulting support: robert@lemon-pip.com
  22. 22. © Lemon Pip Consulting Limited Retention Schemes in the GCC and 9-Box Techniques Presentation Facilitator: Robert Mosley Location: Webinar by Informa Presentation Title: Retention Schemes in the GCC Contact Email: robert@lemon-pip.com Presentation Date: Tuesday 17th May 2016 Presentation Time: 16:30pm to 17:30 (UAE)

×