Four (4) Critical Success Factors to Build Sustainable Remuneration Strategies_Balancing People and Profit_presented by Dr Charles Cotter at the SLAZEISI Conference on 20 November 2023
Strategic Planning, Execution Frameworks & Organizational Health – Executive Summary
There are many frameworks and components for strategic management, planning, and execution; like a Ferrari, a BMW, or a Volkswagen, they all do the job – just differently. Ultimately, every business needs to answer some key questions:
Where are we? Where are we going? How do we get there? How are we doing? How do we function effectively? How can we influence what we cannot control? How should we appear to Customers (BtoB, BtoC)? How do we look to our investors? How do we look to our workforce? How do we sustain, and continuously learn & improve? What must we excel at to satisfy stakeholders? How do we become The Employer of Choice, and the Provider of Choice in the markets we serve?
Led by an internal team (which frequently includes the CEO, CFO, COO, CHRO, sales & marketing, IT/IS, and other represented disciplines), and sometimes also key stakeholders (customers, suppliers), the output is practical & tactical, helping to enable sterling execution & organizational health.
Strategic management is a method by which leaders conceive of and implement a strategy that leads to a sustainable competitive advantage.
Strategic planning is a systematic, organizational effort that includes initial assessment, thorough analysis, strategy formulation, its implementation and evaluation, leading to the achievement of business goals, and competitive advantage. Continuous improvement / continuous learning includes benchmarking, best practices, change management, and performance excellence. Input frequently comes from senior management, and may also come from lead investors, the workforce, key customers, suppliers, and distributors.
Execution frameworks help align the organization’s talent, organizational structure, programs, projects, tasks, processes, and technology, to ensure strategy is executed on time, on budget, as required, meeting (and exceeding) business goals. In many instances, an execution framework has few strategic objectives, numerous (enabling) tactical initiatives, measures, and targets, plans operations, monitors and learns, validates & adapts, supported by budget & resources.
Organizational health is about making a company function effectively by building a cohesive leadership team, establishing real clarity among those leaders, communicating that clarity to everyone within the organization, and putting in place enough structure to reinforce that clarity going forward, and aligning rewards, metrics, and resources.
Strategic Planning, Execution Frameworks & Organizational Health – Executive Summary
There are many frameworks and components for strategic management, planning, and execution; like a Ferrari, a BMW, or a Volkswagen, they all do the job – just differently. Ultimately, every business needs to answer some key questions:
Where are we? Where are we going? How do we get there? How are we doing? How do we function effectively? How can we influence what we cannot control? How should we appear to Customers (BtoB, BtoC)? How do we look to our investors? How do we look to our workforce? How do we sustain, and continuously learn & improve? What must we excel at to satisfy stakeholders? How do we become The Employer of Choice, and the Provider of Choice in the markets we serve?
Led by an internal team (which frequently includes the CEO, CFO, COO, CHRO, sales & marketing, IT/IS, and other represented disciplines), and sometimes also key stakeholders (customers, suppliers), the output is practical & tactical, helping to enable sterling execution & organizational health.
Strategic management is a method by which leaders conceive of and implement a strategy that leads to a sustainable competitive advantage.
Strategic planning is a systematic, organizational effort that includes initial assessment, thorough analysis, strategy formulation, its implementation and evaluation, leading to the achievement of business goals, and competitive advantage. Continuous improvement / continuous learning includes benchmarking, best practices, change management, and performance excellence. Input frequently comes from senior management, and may also come from lead investors, the workforce, key customers, suppliers, and distributors.
Execution frameworks help align the organization’s talent, organizational structure, programs, projects, tasks, processes, and technology, to ensure strategy is executed on time, on budget, as required, meeting (and exceeding) business goals. In many instances, an execution framework has few strategic objectives, numerous (enabling) tactical initiatives, measures, and targets, plans operations, monitors and learns, validates & adapts, supported by budget & resources.
Organizational health is about making a company function effectively by building a cohesive leadership team, establishing real clarity among those leaders, communicating that clarity to everyone within the organization, and putting in place enough structure to reinforce that clarity going forward, and aligning rewards, metrics, and resources.
CHAPTER 12PORTER NOVELLIGREG WALDRONApplying the Dro.docxbartholomeocoombs
CHAPTER 12
PORTER NOVELLI
GREG WALDRON
Applying the Drotter “results-based” Leadership Pipeline approach to create a performance management system in a professional service firm.
• Introduction
• Business Diagnosis and Assessment
• Feedback
• Program Design Considerations
• Program Implementation
• Design Considerations
• Chosen Approach, Format Development, and Introduction
• Performance Management System Development
• Tailored Leadership Pipeline Development
• Evaluation
• Business Results
• Employee Climate Survey Results
• Turnover Results
• Anecdotal Evidence
INTRODUCTION
The Drotter results-based approach is tailored to a professional services firm structure and applied in the development of a performance management system aligned with the business’s strategy. Drotter’s Leadership Pipeline approach is implemented, with the full performance definitions for each leadership level in the tailored pipeline becoming the basis for a new organization-wide performance management application. The Drotter full performance definitions subsequently become the “source code” for selection, talent management, and training planning applications. The focus of this paper is the first application, performance management.
Business Diagnosis and Assessment
In 2004, Porter Novelli, a leading global marketing communications firm, undertook a fundamental strategic assessment and visioning process to guide it through the next five years. The firm’s CEO, president, and chief strategy officer led this process. The vision focused on a new approach to client account planning, a more client-centric structure, and a greater emphasis on operating interdependence between the globally dispersed offices in the service of multinational clients. It was felt that these three initiatives would dramatically increase the firm’s capacity to win and grow large, complex, and geographically dispersed client accounts—the firm’s strategic market target.
The senior management group identified the need to upgrade and align human resources management processes to successfully communicate and implement the new business strategy. The firm proceeded to hire a chief talent officer (CTO) to assist in the strategy implementation effort by designing and installing a more systematic, business-focused human resources management process.
In the CTO’s opinion, the vision implementation challenge centered on creating the highest possible level of employee engagement with the vision in the short term—by providing people throughout the firm with a clear, specific understanding of what the business strategy meant for them.
His metaphor for engagement was specifying the “four entitlements of all employees.” The CTO’s experience with corporate change efforts had led him to the conclusion that specific answers to four fundamental questions were a reasonable baseline expectation for every employee, regardless of level or function:
1. What specifically do you expect of me?
2. How will you define succes.
CHAPTER 12PORTER NOVELLIGREG WALDRONApplying the Dro.docxcravennichole326
CHAPTER 12
PORTER NOVELLI
GREG WALDRON
Applying the Drotter “results-based” Leadership Pipeline approach to create a performance management system in a professional service firm.
• Introduction
• Business Diagnosis and Assessment
• Feedback
• Program Design Considerations
• Program Implementation
• Design Considerations
• Chosen Approach, Format Development, and Introduction
• Performance Management System Development
• Tailored Leadership Pipeline Development
• Evaluation
• Business Results
• Employee Climate Survey Results
• Turnover Results
• Anecdotal Evidence
INTRODUCTION
The Drotter results-based approach is tailored to a professional services firm structure and applied in the development of a performance management system aligned with the business’s strategy. Drotter’s Leadership Pipeline approach is implemented, with the full performance definitions for each leadership level in the tailored pipeline becoming the basis for a new organization-wide performance management application. The Drotter full performance definitions subsequently become the “source code” for selection, talent management, and training planning applications. The focus of this paper is the first application, performance management.
Business Diagnosis and Assessment
In 2004, Porter Novelli, a leading global marketing communications firm, undertook a fundamental strategic assessment and visioning process to guide it through the next five years. The firm’s CEO, president, and chief strategy officer led this process. The vision focused on a new approach to client account planning, a more client-centric structure, and a greater emphasis on operating interdependence between the globally dispersed offices in the service of multinational clients. It was felt that these three initiatives would dramatically increase the firm’s capacity to win and grow large, complex, and geographically dispersed client accounts—the firm’s strategic market target.
The senior management group identified the need to upgrade and align human resources management processes to successfully communicate and implement the new business strategy. The firm proceeded to hire a chief talent officer (CTO) to assist in the strategy implementation effort by designing and installing a more systematic, business-focused human resources management process.
In the CTO’s opinion, the vision implementation challenge centered on creating the highest possible level of employee engagement with the vision in the short term—by providing people throughout the firm with a clear, specific understanding of what the business strategy meant for them.
His metaphor for engagement was specifying the “four entitlements of all employees.” The CTO’s experience with corporate change efforts had led him to the conclusion that specific answers to four fundamental questions were a reasonable baseline expectation for every employee, regardless of level or function:
1. What specifically do you expect of me?
2. How will you define succes ...
Human Resources Management (HRM) Value Chain Processes, Organizational Cultur...Charles Cotter, PhD
Human Resources Management (HRM) Processes, Organizational Culture and Organizational Change Management training programme, facilitated by Dr Charles Cotter, July 2021
This Slideshare presentation is a partial preview of the full business document. To view and download the full document, please go here:
http://flevy.com/browse/business-document/organizational-excellence-framework-employees-1421
BENEFITS OF DOCUMENT
1. Undertake human resource planning that supports organizational plans
2. Recruit, select, train and develop employees
3. Encourage employees to share suggestions and ideas aimed at improvement
DOCUMENT DESCRIPTION
This is an introductory workshop on employees. It focuses on defining and implementing good employee practices that are covered in the Organizational Excellence Framework (copyright 2010 Dawn Ringrose) publication that integrates global excellence models and provides implementation guidelines for the practitioner. These practices have been validated by over 20 years of research.
The employee practices include: Undertaking human resource planning that supports organization goals and objectives; Recruiting and selecting people for mutual success; Promoting equal opportunity and diversity; Ensuring people understand and commit to the strategic direction and improvement goals; Getting people involved with improvement initiatives; Encouraging employees to share ideas and suggestions; Encouraging employees to be innovative and take risks; Determining the training needs of employees and providing the necessary training; Ensuring employees have adequate compensation and benefits; Rewarding and recognizing strong performance of both individuals and teams; Ensuring a healthy workplace environment and involving people in addressing issues related to health and wellness; Removing barriers to employee effectiveness.
Each practice includes a definition, implementation guidelines and practical examples and may include applicable research findings. The workshop is formatted so that participants learn about best management practices related to the topic and have an opportunity to self-assess against the practices and develop an improvement plan to address gaps.
This workshop is part of a consulting toolkit that includes: the Organizational Excellence Framework publication, scenario games, automated assessments, holistic workshops for micro to large size organizations and modular workshops for each key management area (governance, leadership, planning, customers, employees, work processes, suppliers and partners, resource management, continuous improvement & performance measurement).
Developing Ambidexterity in Organization for Sustainable Competitive AdvantagesSeta Wicaksana
Nokia, Blackberry, TWA, Kodak, Olivetti, Enron, Blockbuster, Delta Airlines, Swiss Air, Arthur Andersen, General Motors, Chrysler, Lehman Brothers, Worldcom…and many other world-known companies went busted …one of the main reasons their failure is because they failed to become ambidextrous
Research shows that ambidexterity is critical for successful strategy execution and that leads to higher performance but at the same time, it emphasizes that the tension between two distinct capabilities is a key strategic challenge.
RBL Omnia combines five of RBL's exclusive, world-class product offerings: RBL Institute, Virtual Academies, OGS, Online Assessments, and a Research Repository to identify, measure, and monitor the highest impact human capability investments.
RBL Omnia combines five of RBL's exclusive, world-class product offerings: RBL Institute, Virtual Academies, OGS, Online Assessments, and a Research Repository to identify, measure, and monitor the highest impact human capability investments.
Strategic Talent Management and Development online learning programme, facilitated by Dr Charles Cotter. Best practice principles, tools and processes.
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CHAPTER 12PORTER NOVELLIGREG WALDRONApplying the Dro.docxbartholomeocoombs
CHAPTER 12
PORTER NOVELLI
GREG WALDRON
Applying the Drotter “results-based” Leadership Pipeline approach to create a performance management system in a professional service firm.
• Introduction
• Business Diagnosis and Assessment
• Feedback
• Program Design Considerations
• Program Implementation
• Design Considerations
• Chosen Approach, Format Development, and Introduction
• Performance Management System Development
• Tailored Leadership Pipeline Development
• Evaluation
• Business Results
• Employee Climate Survey Results
• Turnover Results
• Anecdotal Evidence
INTRODUCTION
The Drotter results-based approach is tailored to a professional services firm structure and applied in the development of a performance management system aligned with the business’s strategy. Drotter’s Leadership Pipeline approach is implemented, with the full performance definitions for each leadership level in the tailored pipeline becoming the basis for a new organization-wide performance management application. The Drotter full performance definitions subsequently become the “source code” for selection, talent management, and training planning applications. The focus of this paper is the first application, performance management.
Business Diagnosis and Assessment
In 2004, Porter Novelli, a leading global marketing communications firm, undertook a fundamental strategic assessment and visioning process to guide it through the next five years. The firm’s CEO, president, and chief strategy officer led this process. The vision focused on a new approach to client account planning, a more client-centric structure, and a greater emphasis on operating interdependence between the globally dispersed offices in the service of multinational clients. It was felt that these three initiatives would dramatically increase the firm’s capacity to win and grow large, complex, and geographically dispersed client accounts—the firm’s strategic market target.
The senior management group identified the need to upgrade and align human resources management processes to successfully communicate and implement the new business strategy. The firm proceeded to hire a chief talent officer (CTO) to assist in the strategy implementation effort by designing and installing a more systematic, business-focused human resources management process.
In the CTO’s opinion, the vision implementation challenge centered on creating the highest possible level of employee engagement with the vision in the short term—by providing people throughout the firm with a clear, specific understanding of what the business strategy meant for them.
His metaphor for engagement was specifying the “four entitlements of all employees.” The CTO’s experience with corporate change efforts had led him to the conclusion that specific answers to four fundamental questions were a reasonable baseline expectation for every employee, regardless of level or function:
1. What specifically do you expect of me?
2. How will you define succes.
CHAPTER 12PORTER NOVELLIGREG WALDRONApplying the Dro.docxcravennichole326
CHAPTER 12
PORTER NOVELLI
GREG WALDRON
Applying the Drotter “results-based” Leadership Pipeline approach to create a performance management system in a professional service firm.
• Introduction
• Business Diagnosis and Assessment
• Feedback
• Program Design Considerations
• Program Implementation
• Design Considerations
• Chosen Approach, Format Development, and Introduction
• Performance Management System Development
• Tailored Leadership Pipeline Development
• Evaluation
• Business Results
• Employee Climate Survey Results
• Turnover Results
• Anecdotal Evidence
INTRODUCTION
The Drotter results-based approach is tailored to a professional services firm structure and applied in the development of a performance management system aligned with the business’s strategy. Drotter’s Leadership Pipeline approach is implemented, with the full performance definitions for each leadership level in the tailored pipeline becoming the basis for a new organization-wide performance management application. The Drotter full performance definitions subsequently become the “source code” for selection, talent management, and training planning applications. The focus of this paper is the first application, performance management.
Business Diagnosis and Assessment
In 2004, Porter Novelli, a leading global marketing communications firm, undertook a fundamental strategic assessment and visioning process to guide it through the next five years. The firm’s CEO, president, and chief strategy officer led this process. The vision focused on a new approach to client account planning, a more client-centric structure, and a greater emphasis on operating interdependence between the globally dispersed offices in the service of multinational clients. It was felt that these three initiatives would dramatically increase the firm’s capacity to win and grow large, complex, and geographically dispersed client accounts—the firm’s strategic market target.
The senior management group identified the need to upgrade and align human resources management processes to successfully communicate and implement the new business strategy. The firm proceeded to hire a chief talent officer (CTO) to assist in the strategy implementation effort by designing and installing a more systematic, business-focused human resources management process.
In the CTO’s opinion, the vision implementation challenge centered on creating the highest possible level of employee engagement with the vision in the short term—by providing people throughout the firm with a clear, specific understanding of what the business strategy meant for them.
His metaphor for engagement was specifying the “four entitlements of all employees.” The CTO’s experience with corporate change efforts had led him to the conclusion that specific answers to four fundamental questions were a reasonable baseline expectation for every employee, regardless of level or function:
1. What specifically do you expect of me?
2. How will you define succes ...
Human Resources Management (HRM) Value Chain Processes, Organizational Cultur...Charles Cotter, PhD
Human Resources Management (HRM) Processes, Organizational Culture and Organizational Change Management training programme, facilitated by Dr Charles Cotter, July 2021
This Slideshare presentation is a partial preview of the full business document. To view and download the full document, please go here:
http://flevy.com/browse/business-document/organizational-excellence-framework-employees-1421
BENEFITS OF DOCUMENT
1. Undertake human resource planning that supports organizational plans
2. Recruit, select, train and develop employees
3. Encourage employees to share suggestions and ideas aimed at improvement
DOCUMENT DESCRIPTION
This is an introductory workshop on employees. It focuses on defining and implementing good employee practices that are covered in the Organizational Excellence Framework (copyright 2010 Dawn Ringrose) publication that integrates global excellence models and provides implementation guidelines for the practitioner. These practices have been validated by over 20 years of research.
The employee practices include: Undertaking human resource planning that supports organization goals and objectives; Recruiting and selecting people for mutual success; Promoting equal opportunity and diversity; Ensuring people understand and commit to the strategic direction and improvement goals; Getting people involved with improvement initiatives; Encouraging employees to share ideas and suggestions; Encouraging employees to be innovative and take risks; Determining the training needs of employees and providing the necessary training; Ensuring employees have adequate compensation and benefits; Rewarding and recognizing strong performance of both individuals and teams; Ensuring a healthy workplace environment and involving people in addressing issues related to health and wellness; Removing barriers to employee effectiveness.
Each practice includes a definition, implementation guidelines and practical examples and may include applicable research findings. The workshop is formatted so that participants learn about best management practices related to the topic and have an opportunity to self-assess against the practices and develop an improvement plan to address gaps.
This workshop is part of a consulting toolkit that includes: the Organizational Excellence Framework publication, scenario games, automated assessments, holistic workshops for micro to large size organizations and modular workshops for each key management area (governance, leadership, planning, customers, employees, work processes, suppliers and partners, resource management, continuous improvement & performance measurement).
Developing Ambidexterity in Organization for Sustainable Competitive AdvantagesSeta Wicaksana
Nokia, Blackberry, TWA, Kodak, Olivetti, Enron, Blockbuster, Delta Airlines, Swiss Air, Arthur Andersen, General Motors, Chrysler, Lehman Brothers, Worldcom…and many other world-known companies went busted …one of the main reasons their failure is because they failed to become ambidextrous
Research shows that ambidexterity is critical for successful strategy execution and that leads to higher performance but at the same time, it emphasizes that the tension between two distinct capabilities is a key strategic challenge.
RBL Omnia combines five of RBL's exclusive, world-class product offerings: RBL Institute, Virtual Academies, OGS, Online Assessments, and a Research Repository to identify, measure, and monitor the highest impact human capability investments.
RBL Omnia combines five of RBL's exclusive, world-class product offerings: RBL Institute, Virtual Academies, OGS, Online Assessments, and a Research Repository to identify, measure, and monitor the highest impact human capability investments.
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4 Critical Success Factors to Build Sustainable Remuneration Strategies_Balancing People and Profit_20 November 2023.pdf
1. THE FUTURE OF WORK: BALANCING PEOPLE & PROFIT – WHAT
SHOULD BUSINESS LEADERS DO TOWARDS BUILDING SUSTAINABLE
REMUNERATION STRATEGIES?
CHARLES COTTER PhD, MBA, B.A (Hons), B.A
www.slideshare.net/CharlesCotter
SLAZEISI INAUGURAL ANNUAL LEADERSHIP SUMMIT
ELEPHANT HILLS RESORT, VICTORIA FALLS, ZIMBABWE
20 NOVEMBER 2023
2.
3. PRESENTATION OVERVIEW
• Introduction and Contextualization
• Unpacking the fundamentals of organizational sustainability and ESG;
corporate, HRM and remuneration governance
• Sustainable remuneration guidelines and roadmap
• The 4 critical success factors for building sustainable/future-proof
remuneration strategies (to balance people and profit)
• Summary and Conclusion
• Question and Answer session
6. DEFINING ORGANIZATIONAL SUSTAINABILITY
(FROM A HRM-PERSPECTIVE)
• “It is the ability of an organization to maintain and be consistent in its
mode of operandi, which in turn lead to increase in performance,
profitability, enhance customer and workers satisfaction as well as
competitiveness among its peers.”
(Kabiru Ishola Genty, Lagos State University, Nigeria, extracted from
Human Resource Management Practices for Promoting Sustainability,
2021)
• Receptive, Responsive and Responsible (Cotter, 2023)
7. KING IV (2016) REPORT ON CORPORATE GOVERNANCE – 17 PRINCIPLES
•Principle #14: Remuneration governance –
•“The governing body should ensure that the
organization remunerates fairly, responsibly and
transparently so as to promote the achievement of
strategic objectives and positive outcomes in short,
medium and long term”
8. DEFINING HRM GOVERNANCE
• The concept of HRM governance is becoming an emerging organizational practice that enforces HRM to design their
functionality and strategy within a governance framework. By doing so the HRM function contributes to the overall
company’s performance.
• HRM governance is the human capital dimension of the corporate governance framework.
• HRM Governance is the effective leadership of the HR function in an ethical and sustainable way.
• HRM Governance focuses on the rules that govern the main components of the corporate entity referred to as the people.
• “The need for an HR governance system that could assist in dealing with many of the HR problems and challenges encountered
by South Africans, such as HR risk management and corporate ethics, which appear to arise from ineffective corporate
governance.” (SABPP, 2009)
• HRM governance is a systematic approach that creates a legitimate platform to achieve the HRM strategy and objectives,
that are directly aligned to achieve business objectives.
• This golden thread of governance informs the operational capability of HRM to achieve and deliver on its outcomes.
9. 6 OBJECTIVES OF HRM GOVERNANCE
• HRM governance is the act of leading the HRM function and managing
related investments to the following 6 objectives (Mercer):
• #1: Optimise performance of the organization’s human capital assets;
• #2: Fulfill fiduciary and financial responsibilities;
• #3: Mitigate enterprise HRM risk;
• #4: Define stakeholders and their expectations;
• #5: Align the function’s priorities with those of the business; and
• #6: Enable HRM executive decision making.
10.
11. THE STRATEGIC IMPERATIVE OF INCORPORATING
SUSTAINABILITY INTO REMUNERATION FRAMEWORKS
• Incorporating sustainability into remuneration frameworks will help enable:
❑organizations to elevate the prioritization of their ESG commitments,
❑while operationalizing the ESG agenda and
❑encouraging positive societal change.
• EY in collaboration with key partners and subject matter experts have developed Sustainable
Remuneration Guidelines (SRGs) to:
❑enhance the linkage between sustainability, purpose and pay,
❑while attracting, retaining and engaging employees and
❑enhancing business outcomes.
• Given the role that incentives play in influencing behaviour, and therefore corporate decision-making,
it is important to have sustainability front and center in the boardroom.
12.
13. SUSTAINABLE REMUNERATION MATURITY
ASSESSMENT – A 4-PHASE ROADMAP (EY)
• Phase one: Understand
❑Establish design principles. Assess the ESG ambition and appetite for change based on:
❑Stakeholder interviews
❑Analysis of existing ESG commitments
❑Remuneration frameworks and disclosures
• Phase two: Evaluate
❑Ensure clarity on the current state of:
❑Alignment with sustainable remuneration principles and guidelines
❑Benchmarking of current and desired remuneration practices
• Phase three: Activate
❑Identify enhancements
❑Develop prioritized list of enhancement ideas to support meaningful ESG alignment across remuneration
mechanisms, disclosures and governance
• Phase four: Embed
❑Develop a roadmap of interventions to help deliver sustainable remuneration framework, including:
❑Articulation of phased approach (spanning now, next and beyond) of enhancement opportunities
14. 4 CRITICAL SUCCESS
FACTORS FOR
BUILDING
SUSTAINABLE/FUTURE-
PROOF
REMUNERATION
STRATEGIES
(COTTER, 2023)
High Performance Organizational (HiPO)
Culture
Evidence-based and data driven
remuneration philosophy
Business and strategically-relevant
remuneration metrics
Strategic Total Rewards Management
(STORM) framework
16. DEFINING A HIGH PERFORMANCE ORGANIZATION (HiPO)
CULTURE
A high-performance organization is characterized by clarity and coordination.
Everyone plays a crucial role in driving the company forward, and everything that happens at the
individual, group or departmental level contributes to the organization's goals.
People understand their roles and how their efforts contribute to producing the desired results.
Andre de Waal of the HPO Center offers this more formal definition: "A High Performance
Organization is an organization that achieves financial and non-financial results that are exceedingly
better than those of its peer group over a period of time of five years or more, by focusing in a
disciplined way on that which really matters to the organization."
18. DIAGNOSIS OF HIPO
CULTURE
• Q1: Your organization's managers optimize employee performance, potential
and talent management by bringing out the best in people; motivate them;
helping them adapt to changing circumstances and promoting good and
harmonious teamwork. It also trains business leaders to manage the change
process effectively in the best interests of the company and its people.
• Q2: Your organization's managers act with integrity and serve as role models
for their reports. They are credible and consistent and exhibit a strong set of
ethical standards that gain the trust and respect of their teams.
• Q3: Your organization's managers make swift & effective decisions and they
encourage others to do the same. They give people continuous support,
coaching and freedom to act in ways that are consistent with the
organization's standards and these managers also hold themselves accountable
for their own decisions.
• Q4: Your organization integrates standards for excellence into it's operating
structures & introduces people to these standards from the moment they join
the organization. These standards are a living document. People are
encouraged to share their ideas & knowledge to stimulate innovation & fresh
ideas and ensure the organization is permanently focused on improvement.
• Q5: Your organization is receptive to and not dismissive of (macro, market &
micro) environmental forces and -change. It is responsible in creating an
organizational culture that is poised to adapt to changing circumstances. Your
organization establishes open, transparent and multidirectional lines of
communication so that these change messages flow freely around the
organization.
19. DIAGNOSIS OF HIPO
CULTURE
• Q6: Your organization is vigilant, agile and responsive to environmental change.
There is a distinct focus on action; sustaining it's competitive advantage;
harnessing its core competencies; compliance with core values and finding ways
to do it better and/or more cost effectively over time.
• Q7: Your organization has well-defined vision statements that convey the reason
for the organization's existence and are focused on long-term (as opposed to
short-term) outcomes and building sustainable, life-long & mutually beneficial
relationships with key stakeholders and how to create and add real value for
them.
• Q8: Your organization is characterized by role clarity, cross-functional
collaboration, cohesiveness and coordination. Everyone plays a crucial role in
driving the company forward and everything that happens at the individual,
group or departmental level and how it contributes to the achievement of
desirable organizational goals and results. There is a high degree of task
significance and task identity.
• Q9: Your organization works tirelessly to assemble a diverse and balanced team
where individual personalities do not dominate, and everyone works together in
partnership to achieve the mission-critical aspects of the company's strategy.
• Q10: Your organization ensures that every individual is well trained and
encouraged to be flexible, resilient and to apply entrepreneurial thinking,
resulting in a highly creative and engaged workforce where everyone is proactive,
solutions-focused and comfortable with taking calculated risks.
22. EVIDENCE-BASED HRM
• Evidence-based HR refers to a process in which the organization
evaluates any decision or process against data, real experience, expert
opinions, and/or other types of information to ensure the decision is
likely to have the desired outcome.
• For this to work best, the “evidence” used should be purposefully
sought out.
• When data is taken from multiple sources, ensure it’s applicable within
your context.
23. 8-POINT HRM TRANSFORMATION
(COTTER PhD, 30 APRIL 2023)
• "In order to be feasible, to prosper professionally in 2023 and to be future-fit,
HRM will have to exchange the currency in which they trade from old notes to
noteworthy, Industry 4.0 and business relevant denominations and value.
Specifically, this change translates from:
• 1. feelings to facts;
• from 2. anecdotal to analytical;
• from 3. hindsight to insight to foresight;
• from a 4. business tributary to mainstream;
• from 5. intuition to intelligence;
24. 8-POINT HRM TRANSFORMATION
(COTTER PhD, 30 APRIL 2023)
• "In order to be feasible, to prosper professionally in 2023 and to be future-fit,
HRM will have to exchange the currency in which they trade from old notes to
noteworthy, Industry 4.0 and business relevant denominations and value.
Specifically, this change translates from:
• From 6. rhetoric to meaningful response;
• from 7. best practice (imitation) to best fit (internalization) to next practice
(innovation) and ultimately,
• from 8. a cost to a profit centre.
• Generally, this 8-point transformation means an upgrade to Evidence-based
HRM."
26. BUSINESS AND STRATEGICALLY-
RELEVANT REMUNERATION
METRICS
• Revenue/Profit factor, which is company total
revenue/profit divided by the amount of full-time employees
• Human capital value added: revenue minus operating
expense and cost of compensation/benefit divided by the
total amount of full-time employees
• Human capital return on investment: Revenue minus
operating expenses and cost of compensation benefit
divided by cost of compensation/benefit
• Total compensation revenue ratio, which is cost of
compensation/benefit divided by revenue
• Labour cost revenue ratio, which is cost of
compensation/benefit plus other employee costs (bonuses,
mileage paid, incentives) divided by revenue
27. BUSINESS AND STRATEGICALLY-RELEVANT
REMUNERATION METRICS
• Labour Cost Revenue % - The Total Labour Cost as % of organizational revenue or how
much you spend on salaries/wages and benefits as a % of the revenue generated. The
metric can be translated as the amount of investment in your employees required to
generate each Rand of revenue. It can also be used to measure how successful you
pay for performance system is.
• Labour Cost Expense % - Total Labour Costs as % of total expenses. This metric tells
you the percentage of your total operating expenses that are spent on compensating
employees. Labour cost can be a significant operating expense, in particular in an
organization that are labour intensive and/or that relies on human capital to generate
value.
• Benefits as % of Total Compensation, which is the Total cost of benefits as a % of Total
Compensation cost.
• Health care costs per employee, which is total health care cost divided by total
amount of employees
• Sick leave liability, abuse and exploitation of this employee benefit by employees
28. BUSINESS AND STRATEGICALLY-
RELEVANT REMUNERATION METRICS
• The number of “cents” in total compensation and benefits
costs that it took to generate a rand of revenue (as an
indication of compensation effectiveness, where this year's
ratio would be compared to last year’s ratio)
• % of employees that are satisfied with their compensation
(survey of a sample of employees on their satisfaction between
the rewards and the expectations of the firm)
• % of employees that are rated in the top performance
appraisal level… that are paid above the average salary for
their position and vice versa
• What % of the average employee’s pay is “at risk” based on the
employees on the job output
29. SUSTAINABLE
REMUNERATION
METRICS
(PAY FOR
PERFORMANCE)
Are we overpaying our employees for the output they produce? (Pay for Performance)
• Can HRM show the impact of pay increases?
• What is the % increase in employee performance as the result of every 1% increase in pay?
• Does paying top dollar matter?
• Do the employees paid in the top quartile of the salary range produce proportionally more output
than those paid in the middle quartile?
• Demonstrate that we have tied a higher proportion of our total compensation to productivity and
company performance than our competitors.
• How much differently do we treat (pay) our top contributors from our average contributors?
• Who are we over/under paying?
• Demonstrate we have an effective system for identifying and forecasting whether we are under or
over-paying our employees.
• Is there evidence that our benefits programs really attract or keep people?
31. • Strategic reward is based on the design and implementation of long-term reward
policies and practices to closely support and advance business or organizational
objectives as well as employee aspirations.
• “Effective reward is about finding the right reward programs for the strategic
direction of your business.” (Tom McMullen)
• Strategic reward management involves the formulation and implementation of an
equitable reward system that is congruent with the organization’s strategic
objectives.
• The reward system must be congruent with the management style and other
organizational systems, in particular, communication and decision-making. (Lawler)
THE STRATEGIC IMPERATIVE OF REWARD MANAGEMENT
32. DIAGNOSIS OF CURRENT REWARD
MANAGEMENT PRACTICES
• #1 Your organization offers competitive and market-related/above market-related
remuneration packages to employees (prospective employees).
• #2 Your organization adequately and accurately recognizes the knowledge, skills,
competencies and experience of employees and rewards are sufficiently flexible
and variable.
• #3 Your organization applies fairness in methods, procedures and practices for
compensating, recognizing and rewarding employee contributions.
• #4 Your organization applies equitable methods, procedures and practices for
compensating, recognizing and rewarding employee contributions.
• #5 Your organization promotes transparency through sharing information about
their compensation practices, pay rates criteria and how they are determined –
especially at the managerial and executive levels.
33. DIAGNOSIS OF CURRENT REWARD
MANAGEMENT PRACTICES
• #6 Your organization applies consistency (standardization) in the allocation of
remuneration and rewards e.g. performance bonuses and incentives etc., thereby
serving as a retention and motivation mechanism.
• #7 Your organization applies objectivity throughout the performance
management process, as the pre-cursor and chief determinant of performance
bonuses.
• #8 Your organization has an efficient, user-friendly and stream-lined job
evaluation and job grading process.
• #9 The value of remuneration and rewards offered by your organization is
affordable (feasible) promoting business sustainability and continuity.
• #10 Your organization’s reward system is effective in that it directly contributes to
and enables the achievement of business management goals e.g. higher levels of
productivity and performance.
34. 8 STRATEGIC MANAGEMENT PRINCIPLES
(APPLICABLE TO REWARD MANAGEMENT)
• #1: (Vertical) Alignment with business strategy, goals and
objectives
• #2: (Horizontal) integration of HRM value chain functions
(bundling)
• #3: Rewards Management conducts environmental scanning and
is highly attuned, sensitive to and pro-actively responsive of
change
• #4: Rewards Management is future-focused (ensuring that the
organization is future-proof)
35. 8 STRATEGIC MANAGEMENT PRINCIPLES
(APPLICABLE TO REWARD MANAGEMENT)
• #5: Reward management adopts a measurement culture
e.g. scorecards, dashboards, metrics, risk analysis and
audits etc.
• #6: Reward management generates business intelligence,
enabling smarter business decision making (operationally
and strategically)
• #7: Enables the organization to gain a sustainable,
strategic competitive advantage
• #8: Reward management practices contribute to a positive
organizational climate, culture and higher levels of
employee engagement.
36.
37.
38. COMPETENCY AND SKILLS-BASED
PAY
• Competency-based pay is a pay structure that rewards employees based on how well they perform in the
workplace, rather than the hierarchy of their position or years of experience.
• The benefits of competency-based pay structures:
❑ Serves as a motivational tool
❑ It reinforces a culture of self-improvement
❑ It may improve staff retention
❑ It encourages corporate transparency
• Skill-based pay refers to a pay system in which pay increases are linked to the number or depth of skills an
employee acquires and applies and it is a means of developing broader and deeper skills among the
workforce.
• Such increases are in addition to, and not in lieu of, general pay increases employees may receive.
• The pay increases are usually tied to three types of skills:
❑ horizontal skills
❑ vertical skills
❑ depth skills
39.
40. DIFFERENCE FROM TRADITIONAL PAY
SYSTEMS
• Skill-based pay is a person-based and not a job-based,
system.
• It rewards (and therefore emphasizes) a broad range of
skills which makes the employee multi-skilled and therefore
flexible.
• It positively encourages skills development.
• A skill-based pay system may not necessarily reflect how
well the skill is used, as this falls within the performance
component of pay.
• The system needs to be underpinned by opportunities for
training which is critical to the success of the system.