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7 Secrets to Securing Increased Employee Engagement
The document presents seven strategies for increasing employee engagement, highlighting the importance of aligning company culture with business priorities rather than solely focusing on engagement as a goal. Key secrets include offering a compelling vision, defining clear roles, and nurturing a stewardship mindset among employees. Ultimately, engagement should be viewed as a byproduct of effective cultural evolution and not a standalone objective.
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7 Secrets to Securing Increased Employee Engagement
- 1. 7 Secrets toSecuring Increased Employee Engagement
- 2. 22 Today’s Presenter: Ken Gibson SeniorVicePresident (949) 265-5703 kgibson@vladvisors.com 23201 Lake Center Drive, Suite 207 ⬧ Lake Forest, CA 92630 ⬧ 949-852-2288 www.VLadvisors.com ⬧ www.PhantomStockOnline.com
- 3. 33 We’re happy toprovide a copy of today’s slides. To open or close the control panel: Click the red arrow For questions during today’s presentation: Use the question area on your control panel Webinar Q: Are the slides available? A: Yes, more info will be provided at the end
- 4. 44 Take advantage ofa one-half hour consulting call with a VisionLink principal at no charge. Indicate interest on final survey. Consultation Offer & Survey Request a copy of our slides and complimentary consultation. We value your input.
- 5. 55 Post Webinar Intro 5Minutes: Who We Are What We Do How We Do It
- 6. 66 23201 Lake CenterDrive, Suite 207 Lake Forest, CA 92630 (888) 703 0080 www.vladvisors.com www.phantomstockonline.com www.bonusright.com Headquartered in Lake Forest, CA Founded in 1996 Over 500 clients throughout North America
- 7. 77 Key Question What DoesEmployee Engagement Look Like?
- 8. 88 Employee Engagement Passion Commitment Stewardship Owner Mindset Purpose Value
- 9. 99 Key Question How DoesEngagement Happen?
- 10. 1010 Typical Approach Create aStrategy: Surveys Team Building Exercises Retreats Perks Online Tools Outside Consultants
- 11. 1111 Results No ROI No Evidence of Improvement Frustration Disillusionment
- 12. 1212 Why? Engagement is Organic.You Can’t Manufacture It. You Can’t Actually Improve Employee Engagement by Focusing on Employee Engagement.
- 13. 1313 Dating Imagine if YouApproached Dating This Way: Build a dating strategy Read articles about how to impress the person you like and get them to like you. Ask the object of your affection lots of questions. Start doing things that relate to the answers to those questions. Check back and measure if what you did had the desired affect. Ask more questions to see if you’re making progress; see if the other person is as committed as you are.
- 14. 1414 Culture, Engagement &Line of Sight Culture The self-sustaining patterns of behaving, thinking, feeling and believing that determine how things are done within a company. Engagement A measure of how committed employees are to their roles and how satisfied they are with their experience within the company. Line of Sight Level of alignment there is between ownership and employees regarding purpose, strategy, roles and expectations.
- 15. 1515 Align Company Cultureto Business Priorities We’ve learned through our work at Katzenbach that the key to unlocking performance via organizational culture is to align company culture to business priorities. This requires the selection of a “critical few” behaviors that enable the desired business outcomes. When these behaviors are coupled with structural and process changes that support them, the entirety of these changes have an impact on the employee experience…Employee engagement should be regarded as a byproduct of culture evolution efforts rather than a tangible goal of them. “Improving Company Culture Is Not About Providing Free Snacks,” Strategy+Business, July 31, 2017, Alice Zhou (Ms. Zhou is with Strategy+Business and part of the Katzenbach Center)
- 16. 1616 Culture, Engagement &Line of Sight Culture The self-sustaining patterns of behaving, thinking, feeling and believing that determine how things are done within a company. Engagement A measure of how committed employees are to their roles and how satisfied they are with their experience within the company. Byproduct Line of Sight Level of alignment there is between ownership and employees regarding purpose, strategy, roles and expectations.
- 17. 1717 Enabling the Byproduct HowDoes a Company Create the Environment in Which Engagement Can Take Root?
- 18. 1818 The 7 Secretsto Increasing Engagement 1. Offer a Compelling Purpose and Vision 2. Define Clear Roles 3. Characterize Success 4. Magnify Unique Abilities 5. Nurture a Stewardship Mindset 6. Adopt a Value-Sharing Philosophy 7. Establish a Partnership Relationship
- 19. 1919 1. Offer aCompelling Purpose & Vision Deeply held beliefs about: ▪ The importance of the company’s work ▪ The importance of the company’s purpose—it’s “why” Ability to paint a compelling picture ▪ Here’s where we’re headed ▪ Here’s why it’s important ▪ Here’s why you are needed ▪ Here’s how others will benefit ▪ Here’s how you will benefit
- 20. 2020 The Importance ofPurpose Sara Roberts: Ways to Cultivate Purpose in the Workplace, Workspan Magazine, January 2017 “Organizations are waking up to an important reality of human nature. We are hardwired for connection. We have a fundamental need to feel connected to the people we work with and work for, to the work we are doing and to the organization as a whole.
- 21. 2121 The Importance ofPurpose “..The linchpin for connection is a sense of purpose. Most leaders and managers I talk with get this but don’t really know what to do about it. A 2015 study by the Harvard Business Review and EY Beacon Institute found that more than 80% of the 474 surveyed executives believe that purpose is important to many key measures of a business and 70% believe it is important to integrate purpose into core business functions. Less than half, however, believe that their organization has a shared sense of purpose or aligns its strategy to a purpose.”
- 22. 2222 Case Study--Unilever Alarge, European company that makes a variety of consumer products (soap, antiperspirant, mayonnaise) First half of 2017 ▪ Revenue up 5.5% ▪ Earnings per share up 24% from previous year CEO more impressed by another number
- 23. 2323 The Power ofPurpose 1.8 million ▪ The number of people who apply for a job at the company each year. “According to the data, 60% more or less—I’m rounding it—say it’s the Unilever Sustainable Living Plan, and the bigger purpose that we have as a business…Be it in employee attraction, corporate image, education, engagement, I think it pays back. It’s still difficult to explain it to your shareholders, obviously, but ultimately the people that you employ—or the people you are able to attract—is actually the backbone of your success.”
- 24. 2424 The Power ofPurpose
- 25. 2525 Start with Why “Whenmost organizations or people think, act or communicate they do so from the outside in, from WHAT to WHY. And for good reason—they go from clearest thing to the fuzziest thing. We say WHAT we do, we sometimes say HOW we do it, but we rarely say WHY we do WHAT we do. “When communicating from the inside out, however, the WHY is offered as the reason to buy and the WHATs serve as the tangible proof of that belief.” Simon Sinek
- 26. 2626 2. Define ClearRoles Positions are Filled Roles are Fulfilled
- 27. 2727 Talent Assessment Defineskill “categories” needed to drive business model Identify gaps Form recruiting strategy
- 28. 2828 Key Questions Whatoutcomes need to be achieved if the company’s growth goals are going to be fulfilled? What specific skill sets are needed to produce those outcomes? What value proposition will attract and retain that kind of talent?
- 29. 2929 The Role Principle ThreeComponents Establish Strategic Purpose Define Outcomes Identify Resources
- 30. 3030 3. Characterize Success Whatthe People You’re Trying to Recruit Want to Know “If I’m meeting with you a year from now, and your expectations of me have been exceeded, what would I have achieved? What outcomes would have been fulfilled and results attained?”
- 31. 3131 The Power ofClarity When good employees are given a clear vision of their role, have an unambiguous understanding of how you define success, and have access to the tools and resources necessary to produce what you’ve asked them to produce, they will break down barriers to perform. However, without a clear picture of your expectations, they will play games and be self-serving in their approach to the work. And without clear performance standards, how will you know if you are getting what you want?
- 32. 3232 What Needs toBe Clear Strategic Purpose Outcomes Impact Resources Measurement
- 33. 3333 4. Magnify UniqueAbilities People want to work within the realm of their genius. People want to apply their unique abilities to full effect. People want access to resources and opportunities that will help them improve. People want to work on unique teams.
- 34. 3434 Know What TalentYou Need Talent & Business Model Alignment Have top performers working in roles that maximize their unique abilities Avoid placement in roles that don’t have a strategic impact Make sure unique abilities are aligned with business model
- 35. 3535 5. Nurture aStewardship Mindset Top Producers Want to be Mentored and Coached, not Monitored and Managed
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- 37. 3737 What’s the Result? OldSystems ▪ Accountability for past behavior at the expense of improving current performance. ▪ Excessive time devoted to holding meetings, completing forms, creating ratings. ▪ Managers influenced by personal biases. ▪ Impact of appraisal on compensation influences feedback.
- 38. 3838 What’s Driving theRevolution? New Systems ▪ Emphasis on speed, agility and constant (ongoing learning). ▪ Focus on continuous building of the workforce. ▪ Emphasize mentoring and coaching instead of assessing and correcting. ▪ Transition from measuring performance to improving performance.
- 39. 3939 Signs of Stewardship Employees: Assume an ownership mindset in decision making Take a strategic approach to their roles Focus on outcomes and results Protect shareholder interests Expect to create additional value before receiving additional compensation Make sacrifices to help the company succeed
- 40. 4040 Opposite of Stewardshipis Entitlement Employee lacks understanding of value creation. Employer lacks a coherent pay philosophy and strategy.
- 41. 4141 6. Adopt aValue-Sharing Philosophy Value Sharing Concept “We are part of a team. If we all work together we will generate greater success. That success will be shared with everyone if the company succeeds.” When structured appropriately, value sharing programs are perceived as a partnership.
- 42. 4242 Results, not Methods "Youcannot hold people responsible for results if you supervise their methods.“ (Stephen R. Covey) "You cannot hold people responsible for results if you pay them for their methods.“ 42
- 43. 4343 The Right Premise Rewardemployees for achieving the shareholders’ most important financial results and treat them as growth partners.
- 44. 4444 Shareholder’s Most ImportantResult Sustainable and growing profitability 44
- 45. 4545 Central Metric (forvalue sharing) Focus on One of These: Profit Increase in Profits (% or $) (Sometimes: Revenue Growth) 45
- 46. 4646 Compensation Philosophy Statement How value creation is defined. How value is shared—and with whom. Market pay standards. How guaranteed pay and value- sharing will be balanced. How short and long-term value- sharing will be balanced. When or if equity will be shared. How merit pay is defined. What do you want pay to communicate about what’s important?
- 47. 4747 Wealth Multiplier Philosophy PeopleShould Participate in the Wealth MultipleThey Help Create
- 48. 4848 The Value ofProfit Wealth Multiplier Profits Future Business Employees Shareholders
- 49. 4949 A Sense ofPartnership Translates to a Growth Multiple The Value of Profit Wealth Multiplier Profits ShareholdersFuture Business Employees
- 50. 5050 7. Establish aPartnership Relationship
- 51. 5151 Reinforce Line ofSight Vision Where? Model & Strategy How ? Roles and Expectations My Contribution? Rewards What’s in it for me?
- 52. 5252 Market a Futurethat’s Relevant Here’s our future Here’s how we’re going to get there Here’s the role we picture for you Here’s how we encourage our people to grow and contribute Here’s our philosophy about pay and rewards Here are our specific pay programs Here’s how our pay programs could work for you if we achieve our plan
- 53. 5353 Employee Value Statement Year1 2 3 4 5 Targeted Results 100% 100% 100% 100% 100% Salary $160,000 $166,400 $173,056 $179,878 $187,177 STVS $64,000 $66,560 $69,222 $71,991 74,871 LTVS (EOY) -- $74,000 $186,000 $311,000 $448,000 401(k) @7% $17,120 $36,123 $57,169 $80,428 $106,086 Total Cash $224,000 $232,960 $242,278 $251,970 $262,048 Wealth Accrual $17,120 $110,123 $243,169 $391,428 $554,086 Total Value $241,120 $567,083 $942,407 $1,342,636 $1,767,343
- 54. 5454 The 7 Secretsto Increasing Engagement 1. Offer a Compelling Purpose and Vision 2. Define Clear Roles 3. Characterize Success 4. Magnify Unique Abilities 5. Nurture a Stewardship Mindset 6. Adopt a Value-Sharing Philosophy 7. Establish a Partnership Relationship
- 55. 5555 Post Webinar Intro 5Minutes: Who We Are What We Do How We Do It
- 56. 5656 Take advantage ofa one-half hour consulting call with a VisionLink principal at no charge. Indicate interest on final survey. Request Consultation & Take Survey Request a copy of our slides, report, complimentary consultation and BonusRight demo. We value your input.
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- 58. 5858 New SaaStool Build and manage your bonus plan online. Indicate on survey if you would like to schedule a demo.
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- 60. 6060 Free Report: The Impactof Pay on Employee Motivation Request your copy on the final survey.
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- 62. 6262 Today’s Presenter: Ken Gibson SeniorVicePresident (949) 265-5703 kgibson@vladvisors.com 23201 Lake Center Drive, Suite 207 ⬧ Lake Forest, CA 92630 ⬧ 949-852-2288 www.VLadvisors.com ⬧ www.PhantomStockOnline.com ThankYou!
- 63. 6363 Post Webinar Intro 5Minutes: Who We Are What We Do How We Do It
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- 66. VisionLink’s Focus: HelpBusiness Leaders Build and Sustain a High Performance Culture Accelerate performance through pay strategies that transform employees into growth partners.
- 67. If you dothat… • Quality of talent will improve. • Employee engagement will expand. • Performance will be magnified. • Business growth will be accelerated. • Shareholder value will increase.
- 68. 6868 Today’s Presenter: Ken Gibson SeniorVicePresident (949) 265-5703 kgibson@vladvisors.com 23201 Lake Center Drive, Suite 207 ⬧ Lake Forest, CA 92630 ⬧ 949-852-2288 www.VLadvisors.com ⬧ www.PhantomStockOnline.com ThankYou!