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Global Gateway Series Total Rewards June 2010


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Global Gateway Series Total Rewards June 2010

  1. 1. Total Rewards Strategies: Getting and Keeping the Best Talent Presented by: Patti Flauto and Amy Petrus June 25th, 2010
  2. 2. Your organization s Total Rewards Strategy is  Your organization’s Total Rewards Strategy is the KEY factor to getting and keeping the best  talent. talent 2
  3. 3. Agenda 1. What are Total Rewards? 2. What’s a Total Rewards strategy? 3. How can I get and keep the best employees? 4. What are some low or no cost rewards? 3
  4. 4. What are Total Rewards? 4
  5. 5. What is a Total Rewards strategy? Your pie ingredients and how you slice it! Your pie ingredients and how you slice it! 5
  6. 6. IT Company • Business strategy ‐ innovative products and market  growth.  • TR strategy – competitive pay; strong incentives for  new products and creative solutions; highly flexible  d d i l i hi hl fl ibl work environment (few constraints).  6
  7. 7. Medical Equipment Company • Business strategy ‐ highly reliable and safe products;  the best training and service. • TR strategy ‐ competitive base pay and benefits;  small bonus; great orientation and professional  ll b t i t ti d f i l development; structured and predictable work  environment. environment 7
  8. 8. Social Services Non‐Profit • Organizational strategy ‐ expand geographic reach  and increase effectiveness of service delivery. • TR strategy – below market pay; family‐oriented; lots  of part‐time staff; good medical benefits; great work  f t ti t ff d di l b fit t k life balance.  8
  9. 9. How can I get and keep the best employees? Your Total Rewards Strategy is the key. 1. What’s great about your organization? 2. 2 Why should I work for you?   Why should I work for you? 3. Why should I stay? 4. 4 Why should I give you my best?  Why should I give you my best? 9
  10. 10. Employment Branding • 30 second workplace commercial • Job postings / ads • Employee communications • Infuse it in your workplace 10
  11. 11. Trends in Base Pay • In an economic crisis, less focus on pay • More important: secure position, stable company,  benefits • No annual increase – 30% nationwide (approx.) • 2010 annual increases = 2% – 3% 2010 annual increases  2% • Estimated projections for 2011 = 2.8% • S l Salary and hiring freeze to melt soon! d hi i f l ! 11
  12. 12. Low Cost / No Cost Rewards • Flexible scheduling Fl ibl h d li • Career development • Personal wellness • Recognition • Opportunity to make a difference 12
  13. 13. Total Rewards Strategy Your company’s Total Rewards Strategy is the  KEY factor to getting and keeping the best  KEY factor to getting and keeping the best talent. 1. Figure out your Total Rewards strategy 2. Ask the best talent what they need and want 3. Craft your Total Rewards pie to support your strategy and  3 Craft your Total Rewards pie to support your strategy and employee desires 4. Show your employees; tell the world! 13
  14. 14. Contact Information Patti Flauto, SPHR 216‐706‐3005 216 706 3005 Amy Petrus, CPP, SPHR 216‐973‐4249 14