The document discusses evolving employee value propositions (EVPs) and talent trends in Asia. It notes that EVPs traditionally offered pay and benefits in exchange for commitment but now must address employees' psychological and well-being needs. The document also highlights concerns about remote work deteriorating culture while employees see benefits. It concludes by outlining eight emerging EVP trends like increased choice, transparency, and support for work-life integration and families.
Attracting and Retaining Talent During the Great ResignationPayScale, Inc.
The document discusses strategies for attracting and retaining talent during the Great Resignation. It begins with an introduction to the topic and presenters. It then covers attracting talent through competitive compensation, emphasizing total rewards and company culture. It also discusses the importance of remote and flexible work. The second half focuses on retaining talent, noting that compensation and career growth are top reasons for turnover. It provides tips for retention such as raising pay, rewarding employees, promoting work-life balance, and strengthening company culture. The presentation concludes by emphasizing that an engaging employee experience may be more important for attraction and retention now than in the past.
The document provides an overview of total rewards management. It discusses that total rewards includes all compensation and benefits that employees value in the employment relationship, including pay, benefits, work-life programs, and professional development. It emphasizes that retaining top talent is important to business success and that engaged employees can significantly impact business outcomes like revenues, profits, and growth. The document also covers considerations for re-tuning total rewards programs, such as trends in compensation, benefits, healthcare, private exchanges, and base pay. It stresses that professional development and leadership have a direct impact on retaining critical talent.
This document discusses best practices for succession management and employee retention. It explores current trends showing many upcoming retirements and skills shortages. Effective succession management focuses on individual development aligned with organizational strategy. It identifies high potentials and provides career development, rather than just filling positions. Regular talent reviews and leadership assessments help develop successors and retain top employees. Measuring outcomes ensures the process works to prepare internal candidates for future leadership roles.
Is Pay Hindering Your Company’s Performance?
A culture of performance is one where success patterns have taken root throughout an organization. The company is winning and you see it manifest in every part of the business. However, for too many companies, the culture is not “firing on all cylinders.” Performance is lagging. As a result, breakthrough growth remains out of reach.
Pay can either drive or inhibit the success patterns that fuel business growth. If your company’s rewards strategy is hindering more than enabling a performance culture, you will not want to miss this presenation
7 Steps to Attract, Motivate & Retain Top Talentnyreport.com
This document discusses strategies for attracting, motivating, and retaining top talent. It outlines a 7 step process: 1) Benchmark current retention metrics, 2) Identify root causes for employee turnover, 3) Map the employee lifecycle, 4) Prioritize potential solutions, 5) Present solutions to managers and employees, 6) Integrate solutions into business practices, and 7) Continuously review metrics to refine solutions. Retaining top performers remains a challenge due to skills gaps, global demand, and high costs of employee turnover estimated at 20-200% of annual salary per employee.
Celebrating a decade of the Hays Salary Guide as it continues to be a trusted resource for thousands of employers across Canada.
PRESENTERS
- Speaker: Rowan O'Grady, President of Hays Canada
- Guest speaker: Kimberley Messer, Diversity & Inclusion expert at IBM.
KEY TAKEAWAYS
- Gain competitive advantage in attracting and retaining top talent
- Get your D&I program off the ground in a few easy steps
Underwhelming Pay Strategy = Underwhelming Results
If I'm a CEO, I need my employees to draw the same conclusion I do about "what's important." And I want them to behave in a way that reflects that understanding and commitment. To accomplish that there must be alignment between the growth goals of the company, its business model and strategy, roles and expectations and financial rewards. So how do you create that line of sight and instill a sense of stewardship among employees through compensation? If these are issues you struggle with, you will not want to miss this presentation!
By: The VisionLink Advisory Group. A consulting firm that helps growth-oriented companies create greater alignment between their business plans and their rewards programs—thereby creating a unified financial vision for growing their companies.
Attracting and Retaining Talent During the Great ResignationPayScale, Inc.
The document discusses strategies for attracting and retaining talent during the Great Resignation. It begins with an introduction to the topic and presenters. It then covers attracting talent through competitive compensation, emphasizing total rewards and company culture. It also discusses the importance of remote and flexible work. The second half focuses on retaining talent, noting that compensation and career growth are top reasons for turnover. It provides tips for retention such as raising pay, rewarding employees, promoting work-life balance, and strengthening company culture. The presentation concludes by emphasizing that an engaging employee experience may be more important for attraction and retention now than in the past.
The document provides an overview of total rewards management. It discusses that total rewards includes all compensation and benefits that employees value in the employment relationship, including pay, benefits, work-life programs, and professional development. It emphasizes that retaining top talent is important to business success and that engaged employees can significantly impact business outcomes like revenues, profits, and growth. The document also covers considerations for re-tuning total rewards programs, such as trends in compensation, benefits, healthcare, private exchanges, and base pay. It stresses that professional development and leadership have a direct impact on retaining critical talent.
This document discusses best practices for succession management and employee retention. It explores current trends showing many upcoming retirements and skills shortages. Effective succession management focuses on individual development aligned with organizational strategy. It identifies high potentials and provides career development, rather than just filling positions. Regular talent reviews and leadership assessments help develop successors and retain top employees. Measuring outcomes ensures the process works to prepare internal candidates for future leadership roles.
Is Pay Hindering Your Company’s Performance?
A culture of performance is one where success patterns have taken root throughout an organization. The company is winning and you see it manifest in every part of the business. However, for too many companies, the culture is not “firing on all cylinders.” Performance is lagging. As a result, breakthrough growth remains out of reach.
Pay can either drive or inhibit the success patterns that fuel business growth. If your company’s rewards strategy is hindering more than enabling a performance culture, you will not want to miss this presenation
7 Steps to Attract, Motivate & Retain Top Talentnyreport.com
This document discusses strategies for attracting, motivating, and retaining top talent. It outlines a 7 step process: 1) Benchmark current retention metrics, 2) Identify root causes for employee turnover, 3) Map the employee lifecycle, 4) Prioritize potential solutions, 5) Present solutions to managers and employees, 6) Integrate solutions into business practices, and 7) Continuously review metrics to refine solutions. Retaining top performers remains a challenge due to skills gaps, global demand, and high costs of employee turnover estimated at 20-200% of annual salary per employee.
Celebrating a decade of the Hays Salary Guide as it continues to be a trusted resource for thousands of employers across Canada.
PRESENTERS
- Speaker: Rowan O'Grady, President of Hays Canada
- Guest speaker: Kimberley Messer, Diversity & Inclusion expert at IBM.
KEY TAKEAWAYS
- Gain competitive advantage in attracting and retaining top talent
- Get your D&I program off the ground in a few easy steps
Underwhelming Pay Strategy = Underwhelming Results
If I'm a CEO, I need my employees to draw the same conclusion I do about "what's important." And I want them to behave in a way that reflects that understanding and commitment. To accomplish that there must be alignment between the growth goals of the company, its business model and strategy, roles and expectations and financial rewards. So how do you create that line of sight and instill a sense of stewardship among employees through compensation? If these are issues you struggle with, you will not want to miss this presentation!
By: The VisionLink Advisory Group. A consulting firm that helps growth-oriented companies create greater alignment between their business plans and their rewards programs—thereby creating a unified financial vision for growing their companies.
Webinar - Are You Ready for Compensation Planning Season?PayScale, Inc.
Join Chief People Officer, Lexi Clarke and Senior Director of Product Marketing, Brooke Grimes as they share key insights and tips for ensuring a smooth year end compensation planning process.
Aligning organizational talent management strategies with operational plans is an imperative to success in the future. Succession planning, talent selection and leadership development are methodologies that are necessary and not just optional.
The document discusses various long-term incentive plan (LTIP) options for companies to use to attract, retain, and motivate top talent. It presents 9 alternatives for long-term value sharing plans, including stock options, restricted stock, phantom stock, and profit pools. For each option, it outlines whether the plan provides equity or not, is based on appreciation or full value, and whether it rewards value increases or financial performance. The document advocates that long-term value sharing is important to attract the best talent, reinforce a company's business model, and build an ownership mindset among employees. It provides steps for selecting and implementing an LTIP to share in a company's future value creation.
The document discusses a survey on employee career development. Some key findings include:
- Over half of employees globally are more interested in acquiring new skills than advancing to higher levels in their organizations. Interest in skills development is higher in EMEA than APAC.
- Many employees are willing to sacrifice higher pay for opportunities to learn new skills. More so in APAC than EMEA.
- While career development discussions are seen as beneficial, only around 38% of employees globally had one with their employer in the past year, ranging widely from 18-61% in different countries.
How to Determine if Your Pay Strategy Needs Professional Help. Compensation planning is not your core competency. Leading a business is. So is it time to stop putting your pay investment at risk and getting experts involved? In this presentation, we’ll show you seven ways you can tell.
View a recording of the presentation: https://www.vladvisors.com/compensation-knowledge-center/webinars/7-signs-you-need-a-compensation-consultant
What if you asked your top four employees to articulate the vision and purpose of your company? Could they do it? What about its business model and strategy? How about explaining their roles and the outcomes for which they have stewardship?
Chances are even your best people would struggle with that exercise. And if they have a hard time, imagine what that implies about the rest of your team.
Those simple questions reveal the level of line of sight you have in your business. And without line of sight, it is virtually impossible to have an engaged workforce.
With that in mind, VisionLink discusses the important role of employee alignment in creating sustained success in all aspects of talent management and performance—and how to create a pay strategy that reinforces the vision and mindset you want your employees to have.
To view a recording of this webinar, visit: http://www.vladvisors.com/compensation-knowledge-center/webinars/how-to-improve-line-of-sight-and-why-it-matters
To learn more about VisionLink, visit: www.vladvisors.com
The document discusses building organizational performance through developing a high performance culture, leadership, and teams. It emphasizes measuring performance accurately, diagnosing gaps, designing integrated solutions, and ensuring learning transfers to application. Key aspects include aligning business strategy and capabilities, developing talent through a leadership pipeline, and engaging employees by linking learning to goals.
NonProfit Executive Insight to 2018 HR TrendsDATIS
The document summarizes key findings from a survey of over 425 executives in the health and human services industry about workforce management trends in 2018. The top three priorities identified were: 1) Increasing employee engagement and satisfaction, 2) Recruiting and retaining top talent, and 3) Maintaining regulatory compliance. Many organizations struggle with high turnover, offering competitive salaries, and keeping up with changing regulations. Most executives plan to increase their investment in digital tools and strategies to help address these workforce issues.
Attracting Premier Talent Comes with a Price You Can’t Afford Not to Pay!
PwC’s 18th Annual Global CEO Survey revealed that “one of the biggest headaches for CEOs is making sure that the organization has the right people to cope with what lies ahead.” It further said that “CEOs need to be sure that the business is fit to react quickly to whatever the future may throw at it – and that means filling it with adaptable, creative people, working in a culture where energy fizzes and ideas spark into life. If they can’t be found, they must be created.” View this presentation that will address how you can successfully address this priority for your organization.
The document discusses trends in the Australian and New Zealand job markets and salaries as reported in the 2013 Hays Salary Guide. It finds that while employers are cautiously optimistic about the year ahead, many expect business activity and permanent staffing levels to increase in the coming months. The largest skills shortages are reported to be for junior to mid-level managers in operations, accounting/finance, engineering, and IT. A majority of employers indicate that skills shortages could impact business operations and that they may consider sponsoring overseas candidates to address shortages.
2015 trends in global employee engagement report highlightsGraeme Cross
The document summarizes key findings from Aon Hewitt's 2015 Global Trends in Employee Engagement report. It shows that employee engagement levels vary widely across markets from 38-73% and can change by 6-15% year-over-year. The best performing companies have 8-10% higher total shareholder return and 29% higher operating income when they invest in engaging leaders. However, only about half of employees have a favorable view of the top engagement drivers like growth opportunities, reputation, pay, and innovation. The report concludes that the best companies build a culture of engagement led by CEOs who understand engagement is critical to business results.
Shareholders and high performing employees need each other. Owners need growth enablers who can build the future company they envision. Key performers want to apply their unique abilities to a meaningful end that rewards them for value creation. So, how do you bring those two visions together in the way you construct rewards strategies? How do you pay crucial contributors in a way that improves shareholder value and makes owners feel good about the investment they are making in compensation? If these are questions you are trying to answer, you should not miss this!
The document discusses return on talent (ROT) and how companies are increasingly measuring the value generated from their talented employees. It defines ROT as the knowledge generated and applied by employees. To optimize investment in talent, companies must understand the various costs associated with acquiring and utilizing talent, and continuously measure and improve ROT. An effective talent management information system can help companies with tasks like recruiting, onboarding, performance management, training, succession planning, and integrating compensation plans to attract, retain and develop top talent.
Understanding How Organizations Develop Competencies and SkillsDavid Forry
An overview of Brandon Hall Group’s Competency and Skills Development Study, conducted April-June 2019. It includes the current state of competencies and skills development, as well as analysis, critical questions organizations need to answer and our analyst point of view on the research.
Brandon Hall Group is a preeminent research and advisory firm, with more than 10,000 clients globally and more than 25 years of delivering Research-Based Solutions that Empower Excellence in Organizations.
Gain access to more research insights at www.Brandonhall.com.
Share Company Value without Sharing Equity. Many companies wonder whether there is a way to tie a long-term incentive to the value of the company without giving away equity. The answer is yes and the solution is Phantom Stock. This concept has become the answer for many company leaders who feel reluctant about sharing stock but feel equally strong that their key people should participate in the value they help create. This presentation will describe how phantom stock works and why it has become such a valuable solution for business leaders seeking an alternative to equity sharing. Whether you have a phantom stock plan now or are just considering whether it would work in your circumstance, you will not want to miss this presentation!
The document discusses the challenges that organizations face in attracting and retaining critical talent globally. It finds that nearly three-quarters of organizations have difficulties attracting critical-skill employees, and over half have problems retaining them. Additionally, employees are experiencing high levels of stress and pressure. The document advocates that organizations focus on crafting an effective employee value proposition (EVP) to balance employer and employee needs. It presents a model showing that communicating, delivering, segmenting, and differentiating the EVP leads to better outcomes of engagement, attraction, retention, and financial performance. Organizations are grouped based on their progress with the EVP, with the most advanced group customizing EVPs and experiencing the best results.
The Next High-Stakes Quest - Balancing Employer and Employee Priorities by To...Elizabeth Lupfer
The document discusses the challenges that organizations face in attracting and retaining critical talent. It finds that nearly three-quarters of organizations have difficulties attracting critical-skill employees, and over half have problems retaining them. Additionally, employees are experiencing high levels of stress and pressure at work. The document advocates that organizations focus on crafting an effective employee value proposition (EVP) to balance employer and employee needs. It presents a model showing that organizations that effectively communicate their EVP, deliver on EVP promises, segment their workforce, and differentiate their EVP achieve better engagement, attraction, retention and financial outcomes.
Driving Talent and Strategic Transformation through HR TechnologyThe HR Observer
How can HR technology impact your organisation and how can this cultural impact be managed? During this session Nelly will discuss the important role that HR plays in driving the performance of talent within the business. You will develop an understanding of how to identify skill shortages within your talent pool as well as finding and developing the future talent the organisation requires. Join this session to understand where to start with HR technology and how it can help you develop talent and bring transformational change. You will learn how to find and nurture new talent into the business and how data is important in driving your decisions.
Nelly Boustany, HR Director, SAP Middle East and Africa
The Role of Rewards in the “New Age” of Employee Empowerment. So where does compensation fit in this new engagement environment? Does it play any role? Some analysis suggests its impact is minimal. Other studies indicate it is a larger factor. To the extent attrition can be considered the antithesis of engagement, one might be confused by what seems to be conflicting data analyses among researchers regarding the influence compensation has on this much sought after quality in employees. If these are questions you are trying to answer, you should not miss this presentation.
The document provides guidance on maintaining competitive pay structures. It discusses the importance of regularly reviewing salary structures and market data to ensure pay remains aligned. Key checklist items include reviewing structures at least annually, separating budgets for merit increases, promotions and cost-of-living adjustments, and evaluating incentive plans yearly. The document also stresses the importance of transparency with employees through annual communications about compensation philosophy, total rewards statements, and answering employee questions. Regular maintenance of these areas can help attract and retain talent while preventing larger issues.
Taurus Zodiac Sign: Unveiling the Traits, Dates, and Horoscope Insights of th...my Pandit
Dive into the steadfast world of the Taurus Zodiac Sign. Discover the grounded, stable, and logical nature of Taurus individuals, and explore their key personality traits, important dates, and horoscope insights. Learn how the determination and patience of the Taurus sign make them the rock-steady achievers and anchors of the zodiac.
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.
Webinar - Are You Ready for Compensation Planning Season?PayScale, Inc.
Join Chief People Officer, Lexi Clarke and Senior Director of Product Marketing, Brooke Grimes as they share key insights and tips for ensuring a smooth year end compensation planning process.
Aligning organizational talent management strategies with operational plans is an imperative to success in the future. Succession planning, talent selection and leadership development are methodologies that are necessary and not just optional.
The document discusses various long-term incentive plan (LTIP) options for companies to use to attract, retain, and motivate top talent. It presents 9 alternatives for long-term value sharing plans, including stock options, restricted stock, phantom stock, and profit pools. For each option, it outlines whether the plan provides equity or not, is based on appreciation or full value, and whether it rewards value increases or financial performance. The document advocates that long-term value sharing is important to attract the best talent, reinforce a company's business model, and build an ownership mindset among employees. It provides steps for selecting and implementing an LTIP to share in a company's future value creation.
The document discusses a survey on employee career development. Some key findings include:
- Over half of employees globally are more interested in acquiring new skills than advancing to higher levels in their organizations. Interest in skills development is higher in EMEA than APAC.
- Many employees are willing to sacrifice higher pay for opportunities to learn new skills. More so in APAC than EMEA.
- While career development discussions are seen as beneficial, only around 38% of employees globally had one with their employer in the past year, ranging widely from 18-61% in different countries.
How to Determine if Your Pay Strategy Needs Professional Help. Compensation planning is not your core competency. Leading a business is. So is it time to stop putting your pay investment at risk and getting experts involved? In this presentation, we’ll show you seven ways you can tell.
View a recording of the presentation: https://www.vladvisors.com/compensation-knowledge-center/webinars/7-signs-you-need-a-compensation-consultant
What if you asked your top four employees to articulate the vision and purpose of your company? Could they do it? What about its business model and strategy? How about explaining their roles and the outcomes for which they have stewardship?
Chances are even your best people would struggle with that exercise. And if they have a hard time, imagine what that implies about the rest of your team.
Those simple questions reveal the level of line of sight you have in your business. And without line of sight, it is virtually impossible to have an engaged workforce.
With that in mind, VisionLink discusses the important role of employee alignment in creating sustained success in all aspects of talent management and performance—and how to create a pay strategy that reinforces the vision and mindset you want your employees to have.
To view a recording of this webinar, visit: http://www.vladvisors.com/compensation-knowledge-center/webinars/how-to-improve-line-of-sight-and-why-it-matters
To learn more about VisionLink, visit: www.vladvisors.com
The document discusses building organizational performance through developing a high performance culture, leadership, and teams. It emphasizes measuring performance accurately, diagnosing gaps, designing integrated solutions, and ensuring learning transfers to application. Key aspects include aligning business strategy and capabilities, developing talent through a leadership pipeline, and engaging employees by linking learning to goals.
NonProfit Executive Insight to 2018 HR TrendsDATIS
The document summarizes key findings from a survey of over 425 executives in the health and human services industry about workforce management trends in 2018. The top three priorities identified were: 1) Increasing employee engagement and satisfaction, 2) Recruiting and retaining top talent, and 3) Maintaining regulatory compliance. Many organizations struggle with high turnover, offering competitive salaries, and keeping up with changing regulations. Most executives plan to increase their investment in digital tools and strategies to help address these workforce issues.
Attracting Premier Talent Comes with a Price You Can’t Afford Not to Pay!
PwC’s 18th Annual Global CEO Survey revealed that “one of the biggest headaches for CEOs is making sure that the organization has the right people to cope with what lies ahead.” It further said that “CEOs need to be sure that the business is fit to react quickly to whatever the future may throw at it – and that means filling it with adaptable, creative people, working in a culture where energy fizzes and ideas spark into life. If they can’t be found, they must be created.” View this presentation that will address how you can successfully address this priority for your organization.
The document discusses trends in the Australian and New Zealand job markets and salaries as reported in the 2013 Hays Salary Guide. It finds that while employers are cautiously optimistic about the year ahead, many expect business activity and permanent staffing levels to increase in the coming months. The largest skills shortages are reported to be for junior to mid-level managers in operations, accounting/finance, engineering, and IT. A majority of employers indicate that skills shortages could impact business operations and that they may consider sponsoring overseas candidates to address shortages.
2015 trends in global employee engagement report highlightsGraeme Cross
The document summarizes key findings from Aon Hewitt's 2015 Global Trends in Employee Engagement report. It shows that employee engagement levels vary widely across markets from 38-73% and can change by 6-15% year-over-year. The best performing companies have 8-10% higher total shareholder return and 29% higher operating income when they invest in engaging leaders. However, only about half of employees have a favorable view of the top engagement drivers like growth opportunities, reputation, pay, and innovation. The report concludes that the best companies build a culture of engagement led by CEOs who understand engagement is critical to business results.
Shareholders and high performing employees need each other. Owners need growth enablers who can build the future company they envision. Key performers want to apply their unique abilities to a meaningful end that rewards them for value creation. So, how do you bring those two visions together in the way you construct rewards strategies? How do you pay crucial contributors in a way that improves shareholder value and makes owners feel good about the investment they are making in compensation? If these are questions you are trying to answer, you should not miss this!
The document discusses return on talent (ROT) and how companies are increasingly measuring the value generated from their talented employees. It defines ROT as the knowledge generated and applied by employees. To optimize investment in talent, companies must understand the various costs associated with acquiring and utilizing talent, and continuously measure and improve ROT. An effective talent management information system can help companies with tasks like recruiting, onboarding, performance management, training, succession planning, and integrating compensation plans to attract, retain and develop top talent.
Understanding How Organizations Develop Competencies and SkillsDavid Forry
An overview of Brandon Hall Group’s Competency and Skills Development Study, conducted April-June 2019. It includes the current state of competencies and skills development, as well as analysis, critical questions organizations need to answer and our analyst point of view on the research.
Brandon Hall Group is a preeminent research and advisory firm, with more than 10,000 clients globally and more than 25 years of delivering Research-Based Solutions that Empower Excellence in Organizations.
Gain access to more research insights at www.Brandonhall.com.
Share Company Value without Sharing Equity. Many companies wonder whether there is a way to tie a long-term incentive to the value of the company without giving away equity. The answer is yes and the solution is Phantom Stock. This concept has become the answer for many company leaders who feel reluctant about sharing stock but feel equally strong that their key people should participate in the value they help create. This presentation will describe how phantom stock works and why it has become such a valuable solution for business leaders seeking an alternative to equity sharing. Whether you have a phantom stock plan now or are just considering whether it would work in your circumstance, you will not want to miss this presentation!
The document discusses the challenges that organizations face in attracting and retaining critical talent globally. It finds that nearly three-quarters of organizations have difficulties attracting critical-skill employees, and over half have problems retaining them. Additionally, employees are experiencing high levels of stress and pressure. The document advocates that organizations focus on crafting an effective employee value proposition (EVP) to balance employer and employee needs. It presents a model showing that communicating, delivering, segmenting, and differentiating the EVP leads to better outcomes of engagement, attraction, retention, and financial performance. Organizations are grouped based on their progress with the EVP, with the most advanced group customizing EVPs and experiencing the best results.
The Next High-Stakes Quest - Balancing Employer and Employee Priorities by To...Elizabeth Lupfer
The document discusses the challenges that organizations face in attracting and retaining critical talent. It finds that nearly three-quarters of organizations have difficulties attracting critical-skill employees, and over half have problems retaining them. Additionally, employees are experiencing high levels of stress and pressure at work. The document advocates that organizations focus on crafting an effective employee value proposition (EVP) to balance employer and employee needs. It presents a model showing that organizations that effectively communicate their EVP, deliver on EVP promises, segment their workforce, and differentiate their EVP achieve better engagement, attraction, retention and financial outcomes.
Driving Talent and Strategic Transformation through HR TechnologyThe HR Observer
How can HR technology impact your organisation and how can this cultural impact be managed? During this session Nelly will discuss the important role that HR plays in driving the performance of talent within the business. You will develop an understanding of how to identify skill shortages within your talent pool as well as finding and developing the future talent the organisation requires. Join this session to understand where to start with HR technology and how it can help you develop talent and bring transformational change. You will learn how to find and nurture new talent into the business and how data is important in driving your decisions.
Nelly Boustany, HR Director, SAP Middle East and Africa
The Role of Rewards in the “New Age” of Employee Empowerment. So where does compensation fit in this new engagement environment? Does it play any role? Some analysis suggests its impact is minimal. Other studies indicate it is a larger factor. To the extent attrition can be considered the antithesis of engagement, one might be confused by what seems to be conflicting data analyses among researchers regarding the influence compensation has on this much sought after quality in employees. If these are questions you are trying to answer, you should not miss this presentation.
The document provides guidance on maintaining competitive pay structures. It discusses the importance of regularly reviewing salary structures and market data to ensure pay remains aligned. Key checklist items include reviewing structures at least annually, separating budgets for merit increases, promotions and cost-of-living adjustments, and evaluating incentive plans yearly. The document also stresses the importance of transparency with employees through annual communications about compensation philosophy, total rewards statements, and answering employee questions. Regular maintenance of these areas can help attract and retain talent while preventing larger issues.
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Taurus Zodiac Sign: Unveiling the Traits, Dates, and Horoscope Insights of th...my Pandit
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Staying Relevant in Turbulent Time.pdf
1.
2.
3. A business of Marsh McLennan
welcome to brighter
Staying relevant in turbulent
times - Talent trends in Asia
October 2022
Godelieve van Dooren
CEO Southeast Asia Growth Markets | Mercer
Vietnam PSS Event
4. EVPs define the deal at work
Compensation Benefits
Careers Well-being
Purpose
Culture
Flexibility
• Employee Value Propositions (EVPs)
have become a common part of
organizations’ talent acquisition and
retention strategies.
• EVPs define what an organization
offers to employees (e.g., pay,
benefits) in exchange for what
employees are expected to offers to
the organization (e.g., effort, skills).
• For EVPs to be compelling, they must
be aligned with employees’
expectations.
4
6. 82
88
82
74
78
76
82
86
81
67
70
67
2019 2020 2021
Pride
Motivation
Advocacy
Commitment
Mercer global norms
Percent favorable levels with
comparison to pre-pandemic results
Percent
Favorable
Change
Over Time
Pride 84% 0
Motivation 83% 0
Advocacy 78% +1
Overall
Satisfaction
77% +1
Commitment 71% +1
Engagement isn’t the problem right now
Client case study
percent agreeing over time
6
7. Employees are coping with a host of new stressors
Considering the circumstances, I feel reasonably balanced
and healthy right now.
3.75
3.69
3.63
3.63
3.6
3.42
3.81
3.78
3.71
3.74
3.67 3.66
June July August
Female Managers
Male Managers
Male Employees
Female Employees
Five point scale ranging from Strongly Agree (5) to Strongly Disagree (1)
• Working parents are losing 2 days of
productivity a week due to child care and
stress
• Loneliness is on the rise, particularly for
isolated individuals quarantining alone
• Generation Z employees are worried about
the future of their jobs and their careers
• Baby Boomers are concerned about their
physical health and financial wellbeing
• Many female managers are experiencing a
double-double shift, resulting in higher
levels of cumulative stress
See https://www.mercer.com/our-thinking/career/preparing-for-a-more-flexible-future.html 7
8. Basic needs
• Pay, benefits, security
• Retention
• Pay and benefits in
exchange for
commitment
Loyalty contract
(20th century)
Psychological needs
• Achievement,
camaraderie, equity
• Contribution
• Intrinsic rewards in
exchange for effort
ENGAGEMENT
contract (pre-pandemic)
Well-being needs
• Physical, mental,
emotional, financial
• Sustainability
• Healthy experiences in
exchange for sustainable
performance
LIFESTYLE contract
(The new chapter)
And are seeking a new work experience
8
13. Is the rewards experience is ready for reinvention too?
Unhappy employees Lack of outcomes Global disruption
Time intensive merit processes have
not effectively paid for performance
nor made progress on
competitiveness or equity
Only 55% believe they are fairly
compensated and 50% believe
better performance drives better
pay*
Economic impact of COVID will
tighten budgets, amidst heightened
awareness on systemic pay
inequities
*Source: Mercer Employee Research Normative Database
13
14. The Annual Pay Raise experience – the Highs and Lows of the Employee
E
V
E
N
T
F
E
E
L
I
N
G
S
&
N
E
E
D
S
Record financial
performance!
Excited
Anticipation
Coworker resigned
– and got an offer
with a 20%
increase!
Under resourced–
pulling late nights
trying to keep up!
Performance
review – I’ve had a
great year!
Merit Award –
4%
Stressed
Frustrated
Disappointed
Curious
Disappointed
Confused
#@$!#!!!
Accomplished
Hopeful
14
15. And the Highs and Lows of the Manager
E
V
E
N
T
F
E
E
L
I
N
G
S
&
N
E
E
D
S
Record financial
performance! Good
news for budgets!
Excited
Anticipation
My team is poached
- for 20% more pay
Compensation budget
- same as last year?!
Allocating awards -
So much time and
energy...
Employee
conversations –
disappointment, blame
the budget! OR HR!
Surprised
Confused
Disappointed
Stressed
Relieved
Anxious
Exhausted
Dread
15
16. Are we trying to address too many things with our merit increase?
MARKET
COMPETITIVENESS
PAY EQUITY
PAY FOR
PERFORMANCE
6%
16
17. How can you improve the experience given the current environment?
Proactively
manage
competitiveness
and equity
Rethink pay for
performance
Strategically
budget salary
increases
Increase Pay
Transparency
17
18. W H AT ’ S
H A P P E N I N G
T O D AY
Setting budgets based
solely on what others are
doing
W H AT
S H O U L D B E
H A P P E N I N G
Strategic planning process for long-
term multi-million dollar investment
based on your talent strategy
Strategically Budget Salary Increases
18
19. Proactively manage pay equity and competitiveness
MARKET
PAY EQUITY STUDY
COMPETITIVE
ANALYSIS
MANAGER
DISCRETION
X%
BUDGET
EQUITY
PERFORMANCE
(FUTURE)
BUSINESS
PERFORMANCE
19
21. 5x
EM PLOYEE’S
PERCEPTION OF
PAY IS 5X MORE
IMPACTFUL ON
ENGAGEMENT
THAN HOW THEY
ARE ACTU ALLY
PAID RELATIVE TO
MARKET
M OST PEOPLE DO NOT KNOW HOW THEY ARE PAID
83%
64%
35%
14%
30%
45%
3%
6%
21%
People who are
actually paid
above market
believe they’re paid:
People who are
actually paid
at market believe
they’re paid:
People who are
actually paid
below market
believe they’re paid:
Below market
Below market
Below market
At Market Above Market
At Market Above
Market
At
Market
Above
Market
Source: PayScale Research
69%
69% OF
EMPLOYEES SAY
PAY
TRANSPARENCY
IS IMPORTANT
TO THEM
Source: Mercer Global Talent Trends
Work on Pay Transparency
21
22. GENDER GENERATION LEVEL
Job
security
Flexible
hours
Convenient
location
Time off
Professional
development
Health benefits
Meaningful
work
Competitive
pay
Fun work
environment
Advancement
opportunities
Interesting/
varied work
Job
security
Flexible
hours
Convenient
location
Time off
Professional
development
Health benefits
Meaningful
work
Competitive
pay
Fun work
environment
Advancement
opportunities
Interesting/
varied work
Job
security
Flexible
hours
Convenient
location
Time off
Professional
development
Health benefits
Meaningful
work
Competitive
pay
Fun work
environment
Advancement
opportunities
Interesting/
varied work
Gen Y Gen X Baby Boomer
Male Female
Individual
contributor
All managerial
levels
What else makes people stay?
22
23. Eight emerging EVP trends
making it PERSONAL
Use of choice in rewards
Tech media company providing more
choice in compensation – allowing
employees the option to choose the
amount of salary they want to receive
in equity
focus on FUTURE
Digital career exploration
Software company providing
employees with a digital platform for
exploring career paths and identifying
jobs that match their skills and
interests
INCLUSIVE benefits
Enhanced reproductive benefits
Financial services company providing
fertility and surrogacy benefits to
enhance access of reproductive
benefits to same sex couples
more TRANSPARENCY
Radical transparency
Social media company publishes a
salary calculator on its website for
employees and candidates to access
culture of CARE
Health Centric Culture
Auto company Recruited a Chief
Medical Officer to create a sustainable
culture of health. Various health tools
are offered, including biometrics,
personal health reviews and family
health centers.
ENGAGING experiences
Experiences for Recognition
Tech company utilizes Blueboard to
recognize employees with curated
experiences such as sky diving,
cooking classes or weekend getaways
making it EASY
Finances at your fingertips
Retailer employees can get access to
an app (called Even) which allows
them to cash out early on a paycheck
and access financial budgeting tools
focus on FAMILY
Parental leave for all
Online retailer provides employees not
only with a generous time off, but a
ramp back program as well as a leave
share program to pay for a spouse
without paid leave
23