The document discusses how leading organizations are driving performance through employee engagement despite lacking resources during economic downturns. It finds that highly engaged employees are 2.5 times more productive than peers, but engagement alone is not enough - employees must also feel enabled to perform at their best. Top organizations achieve high performance by cultivating a strong employer brand, carefully linking rewards to business goals, and developing inspiring leaders who create an environment where people feel motivated and empowered.
Talent Winsâ by Dr.Ram Charan, Dominic Barton, Dennis Carey
Most executives today recognize the competitive advantage of human capital, and yet the talent practices their organizations use are stuck in the twentieth century.
Typical talent-planning and HR processes are designed for predictable environments, traditional ways of getting work done, and organizations where "lines and boxes" still define how people are managed. As work and organizations have become more fluid--and business strategy is no longer about planning years ahead but about sensing and seizing new opportunities and adapting to a constantly changing environment--companies must deploy talent in new ways to remain competitive.
Turning conventional views on their heads, talent and leadership experts Ram Charan, Dominic Barton, and Dennis Carey provide leaders with a new and different playbook for acquiring, managing, and deploying talent--for today's agile, digital, analytical, technologically driven strategic environment--and for creating the HR function that business needs. Filled with examples of forward-thinking companies that have adopted radical new approaches to talent (such as ADP, Amgen, BlackRock, Blackstone, Haier, ING, Marsh, Tata Communications, Telenor, and Volvo), as well as the juggernauts and the startups of Silicon Valley, this book shows leaders how to bring the rigor that they apply to financial capital to their human capital--elevating HR to the same level as finance in their organizations.
Providing deep, expert insight and advice for what needs to change and how to change it, this is the definitive book for reimagining and creating a talent-driven organization that wins.
Happy reading & Learning
A company is in Prime when form and function are in balance. The what and the how are in balance. Prior to Prime, function is more important than form. In other words, what we do is more important than how we do it. After Prime, how we do it is more important than what we do. That is why, after Prime, how you do something and whom you know is more important than what you do. In Prime, the what and how are in balance. In Prime, the company is both flexible and in control. Prior to Prime, the company is flexible, but not very much in control of itself. After Prime, control is very high, and the company loses flexibility. In Prime, flexibility and control are together.
However, in a company in Prime, the management is not as flexible as before Prime, because there is professional management: The tendency to depend on any single indispensable individual does not exist as it does in younger companies. On the other hand, in Prime, the organization has a strategic outlook without losing attention to detail. Furthermore, the organization does not look only at detail without losing its strategic outlook, so the company in Prime has controlled flexibility, and it doesnât depend on any single individual.
Front-line Manager is the Fulcrum of Field Force Excellence by K. Hariram. Emerging Trends and the Future of Pharma Field Force by Salil Kallianpur. Will the iPad Enable SFE? by Dr. Neelesh Bhandari and Many more articles that foster Field Force Excellence.
Delivering outcome based Business TransformationBrowne & Mohan
Â
In this paper we present an empirical framework of business transformation based on our experience of implementing business changes across several organization. The paper covers the PSPD Framework, drivers of integration framework used and some DOs and Don'ts of Organizational Transformation.
Future winners are investing in the right leaders today. As in past recessions margins are being cut, costs pushed down, currencies are shifting â and future winning organisations are starting to reposition themselves.
An organisation can be destroyed by its own culture. Thereâs a slow route to decline and a swift route to catastrophe. In these circumstances, institutional collusion in interpreting key facts leads to pervasive managerial delinquency.
Ask someone to name some management gurus and itâs a pretty safe bet that the name Bob Geldof wonât come top of their list. On the face of it, the rock star who sang about hating Mondays might sound like one of the most unlikely experts on management issues.
Leadership for tomorrow: Once more, with feelingHay Group India
Â
Know yourself.â The ancient Greeks considered this a must have
virtue. And they were right, as recent research shows a direct correlation between high leadership performance and accurate self-awareness â in other words, emotional intelligence.
Talent Winsâ by Dr.Ram Charan, Dominic Barton, Dennis Carey
Most executives today recognize the competitive advantage of human capital, and yet the talent practices their organizations use are stuck in the twentieth century.
Typical talent-planning and HR processes are designed for predictable environments, traditional ways of getting work done, and organizations where "lines and boxes" still define how people are managed. As work and organizations have become more fluid--and business strategy is no longer about planning years ahead but about sensing and seizing new opportunities and adapting to a constantly changing environment--companies must deploy talent in new ways to remain competitive.
Turning conventional views on their heads, talent and leadership experts Ram Charan, Dominic Barton, and Dennis Carey provide leaders with a new and different playbook for acquiring, managing, and deploying talent--for today's agile, digital, analytical, technologically driven strategic environment--and for creating the HR function that business needs. Filled with examples of forward-thinking companies that have adopted radical new approaches to talent (such as ADP, Amgen, BlackRock, Blackstone, Haier, ING, Marsh, Tata Communications, Telenor, and Volvo), as well as the juggernauts and the startups of Silicon Valley, this book shows leaders how to bring the rigor that they apply to financial capital to their human capital--elevating HR to the same level as finance in their organizations.
Providing deep, expert insight and advice for what needs to change and how to change it, this is the definitive book for reimagining and creating a talent-driven organization that wins.
Happy reading & Learning
A company is in Prime when form and function are in balance. The what and the how are in balance. Prior to Prime, function is more important than form. In other words, what we do is more important than how we do it. After Prime, how we do it is more important than what we do. That is why, after Prime, how you do something and whom you know is more important than what you do. In Prime, the what and how are in balance. In Prime, the company is both flexible and in control. Prior to Prime, the company is flexible, but not very much in control of itself. After Prime, control is very high, and the company loses flexibility. In Prime, flexibility and control are together.
However, in a company in Prime, the management is not as flexible as before Prime, because there is professional management: The tendency to depend on any single indispensable individual does not exist as it does in younger companies. On the other hand, in Prime, the organization has a strategic outlook without losing attention to detail. Furthermore, the organization does not look only at detail without losing its strategic outlook, so the company in Prime has controlled flexibility, and it doesnât depend on any single individual.
Front-line Manager is the Fulcrum of Field Force Excellence by K. Hariram. Emerging Trends and the Future of Pharma Field Force by Salil Kallianpur. Will the iPad Enable SFE? by Dr. Neelesh Bhandari and Many more articles that foster Field Force Excellence.
Delivering outcome based Business TransformationBrowne & Mohan
Â
In this paper we present an empirical framework of business transformation based on our experience of implementing business changes across several organization. The paper covers the PSPD Framework, drivers of integration framework used and some DOs and Don'ts of Organizational Transformation.
Future winners are investing in the right leaders today. As in past recessions margins are being cut, costs pushed down, currencies are shifting â and future winning organisations are starting to reposition themselves.
An organisation can be destroyed by its own culture. Thereâs a slow route to decline and a swift route to catastrophe. In these circumstances, institutional collusion in interpreting key facts leads to pervasive managerial delinquency.
Ask someone to name some management gurus and itâs a pretty safe bet that the name Bob Geldof wonât come top of their list. On the face of it, the rock star who sang about hating Mondays might sound like one of the most unlikely experts on management issues.
Leadership for tomorrow: Once more, with feelingHay Group India
Â
Know yourself.â The ancient Greeks considered this a must have
virtue. And they were right, as recent research shows a direct correlation between high leadership performance and accurate self-awareness â in other words, emotional intelligence.
Employee engagement & enablement study 2012.
Engagement is the result organizations achieve when they stimulate employees' enthusiasm for their work and direct it toward organizational success.
Employees are 'enabled' when jobs and work environments support them to channel their enthusiasm into productive action
The changing face of reward examines how the business drivers of reward are changing due to the impact of the global downturn and other macroeconomic trends in the global economy.
Driving High Performance Through Finance Workforce Masterycjazh
Â
economic downturn, companies
are readjusting their workforce
priorities.
The preceding, of course, applies
to all workforces but is especially
relevant to the fi nance function.
As it strives to fulfi ll its increasingly
important role in supporting and
guiding the enterprise through
turbulent economic conditions,
the fi nance organization must
rethink how it attracts, retains,
develops and manages its people.
IBM has released its Global CEO Study of more than 1,700 Chief Executive Officers from 64 countries and 18 industries worldwide. In the next 3-5 years, social media will go from the least used customer engagement tactic to the second, surpassed only by face-to-face interaction.
Are your Employees engaged and enabled? If not, The Enemy of Engagement is a must-read book for you! Read the Synopsis of the book and learn why this is such an important book for Managers and HR alike.
Focusing on Employee Engagement: How to Measure and Improve ItKip Michael Kelly
Â
This white paper:- Outlines the characteristics of engaged employees- Identifies the traits that engaged, disengaged and actively disengaged employees demonstrate- Explores the costs of poor employee engagement to organizations- Provides suggestions to human resource and talent management professionals on how to gauge employee engagement in their organizations- Offers employee engagement trends and steps to improve employee engagement that HR and talent management professionals can take
In an ever changing and dynamic business environment, every organization goes through phases of uncertainty and challenge. The organization's intrinsic ability to bounce back during this period is its core survival skill also known as Business Resilience. Facilitating leaders and managers with the mindset needed to be resilient and to help the organization cope with trying times.
Auraa Image Management and Consulting specializes in facilitating leaders, managers and organizational teams with the proficiency needed to be resilient not just to bounce back but to bounce forward.
If your organization is going through a challenging phase or it has witnessed a setback, building resilience will help restore its power. Connect with us and learn how to build resilience and be prepared for future.
Contact: +91 9958934766 / +91 7830222285
Email: samira@auraaimage.com / nayanika@auraaimage.com
Website: https://auraaimage.com / https://samiragupta.com/
Hay Group invites you to its signature global business event - the International Conference. Slated to be held in Shanghai this year, the theme of focus is "Leading Transformation". Stay posted for more details on the event!
The social life of ideas: From innovation to profitHay Group India
Â
The main challenge in organizational innovation lies in its execution, and not in having more ideas. Top companies create supportive cultures that transform ideas into profitable investments.
Companies need innovation to survive. In fact, there is no shortage of clever people and smart ideas. Hence the competitive edge comes from having the best execution â from the time the idea is first identified, shepherded through the corporate maze, and into the hands of the paying customer.
And yet, in many companies, the chase for short-term profitability can become the Achilles heel of long-term business sustainability. The way to avoid this is to have a deep-rooted culture that promotes innovation and new ideas to filter up and sideways.
The global economic meltdown has radically changed the deal landscape. Research findings from Hay Group reveal that there are several critical success factors for all executives to keep in mind which make the difference between winning and losing in the M&A game.
Talent Qâs Dimensions provides a cost-effective way to measure the capability of sales staff, especially when assessing large numbers in revenue-critical roles.
CEOs at the worldâs most successful companies know that they can only safeguard their organizationâs competitive future if they have the right leaders to develop and implement their strategy.
In the words of EI guru Dr Daniel Goleman, Emotional Intelligence is: âthe capacity for recognizing our own feelings and those of others, for motivating ourselves, for managing emotions well in ourselves and in our relationships.â
Everyone knows that unmotivated employees create problems
in the workplace. But whatâs worse is having people who are
motivated â but cannot turn their enthusiasm into action. An employee effectiveness survey
is truly effective when it also addresses the factors that stop
your staff from performing to the best of their ability.
An introduction to the cryptocurrency investment platform Binance Savings.Any kyc Account
Â
Learn how to use Binance Savings to expand your bitcoin holdings. Discover how to maximize your earnings on one of the most reliable cryptocurrency exchange platforms, as well as how to earn interest on your cryptocurrency holdings and the various savings choices available.
Top mailing list providers in the USA.pptxJeremyPeirce1
Â
Discover the top mailing list providers in the USA, offering targeted lists, segmentation, and analytics to optimize your marketing campaigns and drive engagement.
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
LA HUG - Video Testimonials with Chynna Morgan - June 2024Lital Barkan
Â
Have you ever heard that user-generated content or video testimonials can take your brand to the next level? We will explore how you can effectively use video testimonials to leverage and boost your sales, content strategy, and increase your CRM data.đ¤Ż
We will dig deeper into:
1. How to capture video testimonials that convert from your audience đĽ
2. How to leverage your testimonials to boost your sales đ˛
3. How you can capture more CRM data to understand your audience better through video testimonials. đ
In the Adani-Hindenburg case, what is SEBI investigating.pptxAdani case
Â
Adani SEBI investigation revealed that the latter had sought information from five foreign jurisdictions concerning the holdings of the firmâs foreign portfolio investors (FPIs) in relation to the alleged violations of the MPS Regulations. Nevertheless, the economic interest of the twelve FPIs based in tax haven jurisdictions still needs to be determined. The Adani Group firms classed these FPIs as public shareholders. According to Hindenburg, FPIs were used to get around regulatory standards.
B2B payments are rapidly changing. Find out the 5 key questions you need to be asking yourself to be sure you are mastering B2B payments today. Learn more at www.BlueSnap.com.
Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
price and product quality), as well as assessing competitive and market conditions
(i.e., industry structure in the language of economics).
VAT Registration Outlined In UAE: Benefits and Requirementsuae taxgpt
Â
Vat Registration is a legal obligation for businesses meeting the threshold requirement, helping companies avoid fines and ramifications. Contact now!
https://viralsocialtrends.com/vat-registration-outlined-in-uae/
Recruiting in the Digital Age: A Social Media MasterclassLuanWise
Â
In this masterclass, presented at the Global HR Summit on 5th June 2024, Luan Wise explored the essential features of social media platforms that support talent acquisition, including LinkedIn, Facebook, Instagram, X (formerly Twitter) and TikTok.
Recruiting in the Digital Age: A Social Media Masterclass
Â
Giving Everyone the Chance to Shine
1. Giving everyone
the chance to
shine
How leading organizations
use engagement to drive
performance cost-effectively
Lacking the resources available in boom times, firms are now compelled to
focus on performance: getting more out of what theyâve got. The organizations
exiting recession in good shape have one thing in common: motivated,
enabled employees >>
3. Contents
Executive summary 2
Part 1: Post-recession, performance is the focus 4
The benefits of engagement 5
Engagement is not enough 6
Part 2: How to achieve the performance dividend from engagement 8
Conclusion 12
4. 2 Giving everyone the chance to shine
Executive summary
The post-downturn landscape is tough. Recession-battered
firms must fight off fast-growing global competitors while
heeding customer demands for better service â and employeesâ
cries for more fulfilling jobs.
Lacking the resources and funding that were available in
the boom times, organizations are now compelled to focus
on performance: getting more out of what theyâve got.
This means they need to be agile and alone is not enough. Hay Groupâs research
flexible, especially to cope with the rapid shows that while nine out of ten employees
changes that characterize the new business say they are committed to success, less than
environment. As well as focusing on the two thirds believe they are as productive as
hunt for new business, they need to âtake they could be. Thatâs a lot of wasted eager-
care of businessâ, nurturing the customer ness. The missing piece is âenablementâ â
relationships that sustain them. summed up with the cry âhelp me help you.â
Our recent studies show that the firms Hay Groupâs work shows that when
achieving all this share one thing in common: people are both engaged and enabled,
motivated, empowered employees. the performance dividend increases
dramatically. Hereâs how top
The link between employee engagement organizations realize it.
and performance is well proven. With people
prepared to âgo the extra mileâ, our studies
show firms can achieve revenue growth 2.5
times that of peers and cut staff turnover
by up to 40 per cent. However engagement
Š2010 Hay Group. All rights reserved
5. n Know who you are, build your employer brand â Our Best Companies for
Leadership survey showed that the top-scoring firms all shared a clarity of mission
and identity. Nearly 90 per cent of them have developed an explicit employer brand
compared to only two-thirds of peers. They are also on top of important workplace
trends. They have more women in senior posts and use corporate social
responsibility (CSR) credentials to attract staff.
n Spend wisely â In our The Changing Face of Reward study, we saw a strong trend
to link performance more tightly to reward. However firms in the Worldâs Most
Admired Companies list resist the temptation just to set financial-related measures,
focusing instead on metrics that work for the long-term: teamwork, customer
loyalty, building human capital. Overall, firms are using reward to shift from a
culture of entitlement to one of performance. And they are making sure that
everyone â not just âstarsâ â has a chance to get their efforts recognized.
n Inspire your people â Our work constantly reinforces the importance
of leaders in driving performance. Yet a recent Hay Group study suggests only
26 per cent of leaders create high-performance climates. The Best Companies for
Leadership take this issue seriously. Nearly all of them empower their employees
to behave like leaders, compared with only two-thirds of peers. And they set store
by leadership qualities like inspiration and teamwork. The result is a culture that
enables employees to perform.
In summary
The worldâs leading organizations are responding to the global squeeze by eking every
last drop of performance out of their people and structures. Yet they are not doing this
by cuts or coercion. Recognizing that enthusiastic, enabled people are the key to
performance, they cultivate âemployer brandsâ that staff are proud of, craft reward programs
that drive the right behaviors, and develop leaders who create inspiring climates.
â Lacking the resources and
funding that were available in
the boom times, organizations
are now compelled to focus
â
on performance.
6. 4 Giving everyone the chance to shine
Part 1: Post-recession, performance is the focus
As the dust of the downturn settles, organizations will be
looking to position themselves in the new business landscape.
One thatâs tougher and more competitive than before.
Globalization now means threat as well as It means gearing the firm up to respond
opportunity. Many recession-battered quickly to the accelerating pace of change
Western companies find themselves operating in many industry sectors. But it also forces
in increasingly mature markets; they face attention on one of the basics of business:
growing competition from what were once looking after existing customer relationships
emerging markets. All are looking ahead, (which are, after all, the bedrock of most
focusing on growth markets and at the same organizations) as well as pursuing
time maintaining the pressure on costs. new customers.
Yet, against this backdrop, customers havenât Recent Hay Group studies suggest
stopped demanding ever greater levels of that firms performing well in this new,
service. And despite tough times, employees lean environment have one thing in common:
are expecting more from their work â motivated, enabled employees focused on
seeking personal fulfillment, not just a job. clear business-relevant goals. Itâs this factor
that gives them the agility they need. Yet how
Organizations must respond to these do they achieve this when resources are tight?
pressures in order to survive. But without
the finance and resources that were available
before the downturn, they are left with one
option: focusing on performance or, to put
it another way, getting more out of their
existing capability.
â Yet, against this backdrop,
customers havenât stopped
demanding ever-greater
â
levels of service.
Š2010 Hay Group. All rights reserved
7. The benefits of engagement
The link between engagement and performance is well
proven. The more enthusiastic and motivated your people are,
the more they will contribute. Whatâs interesting about our
recent studies is the way in which they show high-performing
organizations have used and fostered engagement even
when recession would be expected to drive levels down.
Our research into this yearâs FORTUNE employee performance issues. In each case,
Highly engaged employees Worldâs Most Admired Companies theyâve achieved more through engagement
are the people who are (WMACs) shows that they are emerging than their peers.
committed and will âgo the from recession in better shape than before,
with more committed and motivated In the Best Companies for Leadership survey,
extra mileâ for your firm. conducted in partnership with Bloomberg
employees. Nearly 70 per cent of WMACs
They are very valuable and report greater levels of engagement BusinessWeek online, we examined how
have the potential to be post-downturn compared to just under organizations were preparing for the new
extremely productive. With 50 per cent of their peer group. They have business reality from the perspective of
high levels of engagement, only had to commit to half the levels of leadership. It was clear from our study that
layoffs and hiring or compensation freezes investment in leadership pays off, with the
firms can see revenue top 20 Best Companies showing significantly
that their peers have had to initiate.
growth 2.5 times that better shareholder return than the S&P 500.
of their peers and a 40 The benefits of this are clear. Nearly all
per cent reduction in of the WMACs report that their engagement This investment has driven productive
efforts reduce staff turnover, compared to levels of engagement too. Of the best
expensive staff turnover. companies, 90 per cent give their employees
two-thirds of their peers. The ROI of this is
immediately apparent, given that the cost the opportunity to behave like leaders,
Source: linkage case studies using
Hay Groupâs normative database of replacing an employee can be between 50 compared to only two-thirds of their peers.
and 150 per cent of salary. The WMACs also Handed this responsibility, employees
credit their engagement efforts with creating are motivated to perform.
competitive advantage, strengthening
customer relationships and reducing
â
Recent Hay Group studies suggest that firms
performing well in this new, lean environment have one
â
thing in common: motivated, enabled employees.
8. 6 Giving everyone the chance to shine
Engagement is not enough
Thereâs a problem with engagement, though. Many organizations
with highly motivated workforces still struggle with performance
issues. Hay Groupâs normative database shows that while nine
out of ten employees say they are committed to success, less than
two thirds believe they are as productive as they could be.
Thatâs a lot of wasted eagerness. The missing Hay Groupâs work shows that when
piece is âenablementâ: best summed up with people are both engaged and enabled,
the cry âhelp me help you.â Employees need the performance dividend
to be able to channel their enthusiasm into increases dramatically.
productive and satisfying action: put into
roles that leverage their skills, and given
the tools and the freedom to be effective.
Without this, they may lose motivation,
dial down their efforts or even leave.
â While nine out of ten employees say they
are committed to success, less than two
thirds believe they are as productive as
â
they could be.
Š2010 Hay Group. All rights reserved
9. The business case for engaging and enabling employees
High engagement High engagement +
only high enablement
Employee performance
Increase in employees
above performance
10% 50%
expectiations
Employee retention
Reduction in
turnover rates
-40% -54%
Customer satisfaction
Customer satisfaction
rates
71% 89%
Financial success
Revenue growth x2.5 x4.5
Based on linkage case studies using Hay Groupâs global normative database
10. 8 Giving everyone the chance to shine
Part 2: How to achieve the performance
dividend from engagement
Todayâs climate, however, seems hardly conducive to engaging
people. Budgets are tight and the best people have most likely
been shouldering the burden â often doing more than one job
â for some time. How do you stop these people from walking
as the markets recover? The top-performing companies have
worked out a formula for keeping people engaged. Itâs about
taking a step back and deciding what you can offer employees
beyond cash.
Know who you are â build your employer brand
One of the stand-out results from our Best Companies for Leadership survey was that
the top-scoring firms all shared a clarity of mission and identity. Southwest Airlines,
for example, has not changed its mission statement in 22 years and even has a committee
whose job it is to ensure that the company culture stays on track. This consistent âemployer
brandâ is a powerful force for inspiring loyalty and engagement â and attracting
high performers.
The Worldâs Most Admired Companies understand employer brand, too. Nearly 90
per cent of them have developed an explicit employer brand compared to only
two-thirds of peers.
The top 20 firms in the leadership study also did much better than their peers in
addressing current trends that affect employeesâ choices today: accelerating globalization,
work/life balance, the role of women in the workplace, a growing focus on the environment.
Best Companies for Leadership score almost twice as high as peers in having a high
proportion of women in senior leadership and in working from home. Over 90 per cent
of them want their employees to appreciate global issues, compared to fewer than 60 per
cent of peers. And nearly all of the Best Companies are using their CSR credentials to
attract new staff, something that less than two-thirds of the ârestâ are doing.
Š2010 Hay Group. All rights reserved
11. How far could I go in this firm? Clearly seeing âtotal rewardâ: creating and presenting a package
how their career could develop is key to attracting that includes not just the fixed and variable financial
the best people and keeping them motivated. elements but also intangible rewards such as career
Eighty per cent of the top companies in our development, motivational leadership and
Best Companies for Leadership study report that challenging work.
âpeople stay at this company primarily for
growth opportunitiesâ compared with only 61 Knowing who you are â and presenting an offer
per cent of peers. Over 80 per cent of these firms to employees that goes beyond just a title and a
also report that they invest a lot in the people salary to encapsulate this âemployer brandâ â is key
they need. to effective engagement when resources are tight.
The importance of career development is further
backed up by our recent Changing Face of Reward
study, which highlights the latest reward practices.
A key trend at successful companies is a shift to
â A consistent âemployer brandâ
is a powerful force for inspiring
loyalty and engagement â and
â
attracting high performers.
12. 10 Giving everyone the chance to shine
Spend wisely We found that organizations in all sectors
The resources that organizations do were working hard to link performance more
Firms are using reward have are being deployed very carefully. tightly to reward. They talk of a shift from
to make the shift from a Even firms that are growing are taking âentitlementâ, âpaternalismâ and âcomfortâ to
an opportunity to reassess their cost base, one of âperformanceâ. In practice, this means
culture of entitlement. differentiating reward according to each
optimize their management processes
and put their operations on a more individualâs performance.
â
sustainable course for the future.
A âone size fits allâ reward program
Engagement is essential, as weâve seen
â but it must be achieved affordably. will not be applicable. The trend
One way to do this is through careful
tuning of reward programs. They must be
will go to âone size fits meâ.
Essent | Netherlands â
The result is that the best performers have
motivating and linked tightly to business
objectives. This was the message that came the highest earning power â indeed senior
through in The Changing Face of Reward. managers at the worldâs top firms earn 20
per cent more than peers when bonuses
are taken into account.
Top six pay-for-performance actions
However organizations must resist the
1 Introduce differentiated reward temptation to set financial-related
structures where available rewards performance metrics. Why? Because itâs at
increasingly go to the top performers odds with what The Worldâs Most Admired
and high potentials â those critical to Companies do. Unlike their peers, these
the survival of the business. companiesâ reward metrics include measures
2 Building management skills in setting around long-term thinking, teamwork,
goals, coaching and recognizing and building human capital and customer loyalty.
rewarding performance. Itâs these types of metrics that will drive
long-term, sustainable performance and
3 Clarify definitions of performance. avoid encouraging the risky, short term
4 Balance individual and enterprise behaviors that have caused so much trouble
targets for bonuses. in the financial sector. In short, driving the
ârightâ performance is what matters.
5 Align individual targets to overall strategy.
Our study showed that firms are
6 Make greater use of multiple rewards, differentiating reward for high performers
mixing short-and long-term incentives
so that everyone â not just the âstarsâ â has
with the motivational stimulus of better
career development and varied and the chance to have their efforts recognized.
interesting work. This, of course, is a key way to
engage employees.
Š2010 Hay Group. All rights reserved
13. Inspire your people
Hay Groupâs work underlines time and And for the first time, these âbestâ organizations
time again how pivotal the quality of leaders are valuing strategic thinking over execution.
is in driving performance. Something as They want leaders who can take the long view,
abstract-sounding as organizational âclimateâ not just get quick results. Compared to their peers,
has a huge bearing on how well employees perform. they set more store by inspiration, teamwork and
And with a recent study of 3,000 international the ability to influence, rather than technical ability.
organizations suggesting that only 26 per cent of
leaders created high performance climates, The leadership culture that these organizations
thereâs a lot to play for. foster makes people feel âenabledâ. The best
companies are way ahead of their peers in this area
The Best Companies for Leadership study â they are nearly 30 per cent more likely to expect
illustrates how seriously top firms are taking this employees to lead and 20 per cent more likely to
issue. What they do thatâs different is to create a encourage them to address problems or opportunities.
culture of leadership that pervades the organization.
It begins with empowering all employees to behave Itâs this combination of motivation and enablement
like leaders and ends by ensuring that there is almost that drives performance. Our studies show that
always a supply of good talent ready to assume leadership is one of the keys to this.
open leadership positions. In the best companies,
nearly everyone is empowered to develop leadership
capability, compared to only two-thirds of peers.
And nearly all have a ready pool of successors for key
roles, while only 69 per cent of peers are doing this.
â Hay Groupâs work underlines time and time
again how pivotal the quality of leaders is
â
in driving performance.
14. 12 Giving everyone the chance to shine
Conclusion
In each of our three recent studies â the Worldâs Most Admired Companies,
the Best Companies for Leadership and the Changing Face of Reward â performance
has been the mantra. The worldâs leading organizations are responding to the global
squeeze by eking every last drop of performance out of their people and structures.
However they are not doing this by coercion, cost-cutting or wild financial incentive.
They recognize that people must feel enthusiastic, enabled and a have sense of identity
and destiny with the firm. And they have worked out that this can be achieved
without the need for extra investment or capital outlay â but by cultivating an
âemployer brandâ that staff are proud of, carefully crafting reward programs that
drive the right behaviors, and developing leaders who create inspiring climates.
They know that performance comes from people â but only when people
feel motivated and enabled to perform.
Š2010 Hay Group. All rights reserved
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Hay Group is a global management consulting firm that works with leaders to
transform strategy into reality. We develop talent, organize people to be more
effective and motivate them to perform at their best. Our focus is on making
change happen and helping people and organizations realize their potential.
We have over 2600 employees working in 86 offices in 48 countries. Our insight
is supported by robust data from over 100 countries. Our clients are from the
private, public and not-for-profit sectors, across every major industry.
For more information please contact your local office through
www.haygroup.com