bonus pocus, karen lur of aadvantage consulting
TRANSCRIPT
![Page 1: Bonus Pocus, Karen Lur of aAdvantage Consulting](https://reader033.vdocuments.us/reader033/viewer/2022052700/55a598e21a28aba3258b466e/html5/thumbnails/1.jpg)
Copyright © aAdvantage Consulting 2014. All Intellectual Property Reserved. -1-www.aadvantage-consulting.com
9 January 2015
G.R.O.W. Seminar – Bonus Pocus
![Page 2: Bonus Pocus, Karen Lur of aAdvantage Consulting](https://reader033.vdocuments.us/reader033/viewer/2022052700/55a598e21a28aba3258b466e/html5/thumbnails/2.jpg)
Copyright © aAdvantage Consulting 2014. All Intellectual Property Reserved. -2-www.aadvantage-consulting.com
01Bonus Pocus – To pay or not to Pay
![Page 3: Bonus Pocus, Karen Lur of aAdvantage Consulting](https://reader033.vdocuments.us/reader033/viewer/2022052700/55a598e21a28aba3258b466e/html5/thumbnails/3.jpg)
Copyright © aAdvantage Consulting 2014. All Intellectual Property Reserved. -3-
What are your greatest challenges today?
![Page 4: Bonus Pocus, Karen Lur of aAdvantage Consulting](https://reader033.vdocuments.us/reader033/viewer/2022052700/55a598e21a28aba3258b466e/html5/thumbnails/4.jpg)
Copyright © aAdvantage Consulting 2014. All Intellectual Property Reserved. -4-
What are your greatest challenges today?
Singapore’s F&B Labour Crunch is Here to Stay by Jay From BigSpoon in For F&B Operators
4 Causes Of Labour Crunch• MOM’s Foreign Labour Policy• Lack of local Workforce • Negative Singaporeans’
perception of F&B jobs • Lack of work satisfaction
![Page 5: Bonus Pocus, Karen Lur of aAdvantage Consulting](https://reader033.vdocuments.us/reader033/viewer/2022052700/55a598e21a28aba3258b466e/html5/thumbnails/5.jpg)
Copyright © aAdvantage Consulting 2014. All Intellectual Property Reserved. -5-
Singapore Workforce Engagement Study (SWES) 2014
For SME, Rewards and Recognition is important in driving Employee Engagement
Clear of roles and goals
Empowered
Staff work well together
Work-life harmony
Confident of leadersImmediate supervisors
Staff's behaviours
New and better waysOpen communication
Rewards and recognition
Training and development
Career growth
Job security
Customer-focused
Hig
her
agr
eem
ent
Low
er a
gree
men
t
Lower importance Higher importance
![Page 6: Bonus Pocus, Karen Lur of aAdvantage Consulting](https://reader033.vdocuments.us/reader033/viewer/2022052700/55a598e21a28aba3258b466e/html5/thumbnails/6.jpg)
Copyright © aAdvantage Consulting 2014. All Intellectual Property Reserved. -6-
Singapore Workforce Engagement Study (SWES) 2014
For Accommodation and Food Services, Work-life harmony and Rewards and Recognition are important in driving Employee Engagement
Clear of roles and goals
Empowered
Staff work well together
Work-life harmony
Confident of leadersImmediate supervisors
Staff's behaviours
New and better waysOpen communication
Rewards and recognition
Training and development
Career growth
Job security
Customer-focused
Hig
her
agr
eem
ent
Low
er a
gree
men
t
Lower importance Higher importance
![Page 7: Bonus Pocus, Karen Lur of aAdvantage Consulting](https://reader033.vdocuments.us/reader033/viewer/2022052700/55a598e21a28aba3258b466e/html5/thumbnails/7.jpg)
Copyright © aAdvantage Consulting 2014. All Intellectual Property Reserved. -7-www.aadvantage-consulting.com
02How and How much to Pay?
![Page 8: Bonus Pocus, Karen Lur of aAdvantage Consulting](https://reader033.vdocuments.us/reader033/viewer/2022052700/55a598e21a28aba3258b466e/html5/thumbnails/8.jpg)
Copyright © aAdvantage Consulting 2014. All Intellectual Property Reserved. -8-
What is the best approach to manage performance ?
Restaurant Business Goals
Department Goals e.g. Kitchen, Service
Individual Goals
Performance Bonus
Performance Management
Goals : KPIs SalesCostNo of CustomersTraining & Development
Kitchen• Total Food Cost• New Creation• Kitchen Hours
Chef’s KPIs• Inventory Cost •Wastage Cost•Best Seller
Restaurant Overall Goals
Sous Chef’s KPIs• Inventory
Turnaround•Preparation time
2 months of bonus
![Page 9: Bonus Pocus, Karen Lur of aAdvantage Consulting](https://reader033.vdocuments.us/reader033/viewer/2022052700/55a598e21a28aba3258b466e/html5/thumbnails/9.jpg)
Copyright © aAdvantage Consulting 2014. All Intellectual Property Reserved. -9-
What is the best approach to manage performance ?
Competency Level 1 (Staff e.g. Service Staff)
Level 2 (Manager e.g. Head of Service)
Level 3 (Head of Division e.g. Restaurant Manager)
ServiceOrientation
Able to providefriendly, helpful and cheerful service and meet customer satisfaction
Makes concrete attempts to add value to others to improve the situation or to make things better for the customers
Recommendsappropriate approaches which may be new and different from those requested by other
Working in Teams
Understands how own role contributes to the objectives of the team and consistently delivers.
Works in a positive and supportive way and tries to overcome barriers that may hinder team working
Co-ordinates teams across departments/divisions and involves the team in the creation of goals aligned with the organisation's objectives
Restaurant Values
Competencies
- Core & Functional
Job Competencies -Behaviours
•Salary + Merit Increment•Promotion•Training & Development
Competencies
Performance Management
![Page 10: Bonus Pocus, Karen Lur of aAdvantage Consulting](https://reader033.vdocuments.us/reader033/viewer/2022052700/55a598e21a28aba3258b466e/html5/thumbnails/10.jpg)
Copyright © aAdvantage Consulting 2014. All Intellectual Property Reserved. -10-
SNEF Survey (Nov 2014) on Salary Increment & Bonus payout
Annual Increment %
Actual 2014 Projected 2015
No. of Companies No. of Companies
0 0 0
>0-1 0 0
>1-2 0 1
>2-3 12 18
>3-4 29 28
>4-5 24 23
>5 3 0
Bonus (excluding AWS) months
Actual 2014 Projected 2015
No. of Companies No. of Companies
0 0 0
>0-1 1 0
>1-2 35 36
>2-3 17 19
>3-4 7 8
>4-5 4 1
![Page 11: Bonus Pocus, Karen Lur of aAdvantage Consulting](https://reader033.vdocuments.us/reader033/viewer/2022052700/55a598e21a28aba3258b466e/html5/thumbnails/11.jpg)
Copyright © aAdvantage Consulting 2014. All Intellectual Property Reserved. -11-www.aadvantage-consulting.com
03What Else Can We Do?
![Page 12: Bonus Pocus, Karen Lur of aAdvantage Consulting](https://reader033.vdocuments.us/reader033/viewer/2022052700/55a598e21a28aba3258b466e/html5/thumbnails/12.jpg)
Copyright © aAdvantage Consulting 2014. All Intellectual Property Reserved. -12-
SHRI National Workplace Happiness Survey 2014
Employees of voluntary welfare organisations and local small-and-medium enterprises (SMEs)
are also happier at work, compared to those in multinational corporations…
The top happiness drivers include :• brand identity • culture• positive emotions.
People want to have some form of control …. over their work-life arrangement. .. want to be given a better direction….areas they can grow with the organisation.
![Page 13: Bonus Pocus, Karen Lur of aAdvantage Consulting](https://reader033.vdocuments.us/reader033/viewer/2022052700/55a598e21a28aba3258b466e/html5/thumbnails/13.jpg)
Copyright © aAdvantage Consulting 2014. All Intellectual Property Reserved. -13-
Singapore Workforce Engagement Study (SWES) 2014
For Accommodation and Food Services, Work-life harmony and Rewards and Recognition are important in driving Employee Engagement
Clear of roles and goals
Empowered
Staff work well together
Work-life harmony
Confident of leadersImmediate supervisors
Staff's behaviours
New and better waysOpen communication
Rewards and recognition
Training and development
Career growth
Job security
Customer-focused
Hig
her
agr
eem
ent
Low
er a
gree
men
t
Lower importance Higher importance
![Page 14: Bonus Pocus, Karen Lur of aAdvantage Consulting](https://reader033.vdocuments.us/reader033/viewer/2022052700/55a598e21a28aba3258b466e/html5/thumbnails/14.jpg)
Copyright © aAdvantage Consulting 2014. All Intellectual Property Reserved. -14-
Help them achieve Work-Life Balance ?
Happy Employees, Happy Customers• Part-time schemes
permanent, short-term no restriction on no. of hours• 5 day work week • For mature employee -Job Trial/ New joiners buddy• Emphasis on People Management training
Innovating People Practices• Part-time schemes(eligible for merit allowance, incentives as well as recognition Awards)• 5 or 6 day work week• Fun & close-knit environment, open communication culture• Management training on part-time/mature employees
![Page 15: Bonus Pocus, Karen Lur of aAdvantage Consulting](https://reader033.vdocuments.us/reader033/viewer/2022052700/55a598e21a28aba3258b466e/html5/thumbnails/15.jpg)
Copyright © aAdvantage Consulting 2014. All Intellectual Property Reserved. -15-
Build a Career for them? (Progressive Wage Model & Development)
![Page 16: Bonus Pocus, Karen Lur of aAdvantage Consulting](https://reader033.vdocuments.us/reader033/viewer/2022052700/55a598e21a28aba3258b466e/html5/thumbnails/16.jpg)
Copyright © aAdvantage Consulting 2014. All Intellectual Property Reserved. -16-
SWES : Top 3 reasons from respondents working in SME
Reasons for promoting the organisation
Culture of the organisation
“… good working environment …”
“… family oriented environment …”
Immediate supervisors
“… understanding boss …”
“… good boss to work with …”
Good colleagues
“… friendly colleagues …”
“… colleagues are helpful …”
Reasons for NOT promoting the organisation
Uncompetitive compensation package
“… pay is low …”
“… few benefits …”
Long working hours
“… long working hours …”
“… no work life balance …”
Poor leadership
“… management is unprofessional …”
“… management does not perform well …”
Note: Promoters are respondents who rated “9” and “10” for their eNPS®.
Note: Detractors are respondents who rated “0” to “6” for their eNPS®.
![Page 17: Bonus Pocus, Karen Lur of aAdvantage Consulting](https://reader033.vdocuments.us/reader033/viewer/2022052700/55a598e21a28aba3258b466e/html5/thumbnails/17.jpg)
Copyright © aAdvantage Consulting 2014. All Intellectual Property Reserved. -17-
Build an Extended Family for them? Binding Culture
Kinship, Friendship, Partnership.. I have staffs who are close to me Like my family and relatives… I make sure that I treat them with utmost respect and dignity and now, these are People who have never stopped Giving support..” Mr Loi (Entrepreneurs Digest Sep/Oct 2014)
A Home Away from Home (Caring Culture)• Monthly Budget for Healthy lifestyle • Health Surveys, Lunchtime Talks & Healthier Staff food• Sports and Family events• Supportive of Telecommuniting arrangements
![Page 18: Bonus Pocus, Karen Lur of aAdvantage Consulting](https://reader033.vdocuments.us/reader033/viewer/2022052700/55a598e21a28aba3258b466e/html5/thumbnails/18.jpg)
Copyright © aAdvantage Consulting 2014. All Intellectual Property Reserved. -18-
Culture Capital – Share of Heart
Firms of Endearment (FoE) outperformed the S&P500 by 1649% over a 15 yr period
Loyalty, Respect, Integrity, Trust, Joy, Authenticity, Empathy, Compassion
![Page 19: Bonus Pocus, Karen Lur of aAdvantage Consulting](https://reader033.vdocuments.us/reader033/viewer/2022052700/55a598e21a28aba3258b466e/html5/thumbnails/19.jpg)
Copyright © aAdvantage Consulting 2014. All Intellectual Property Reserved. -19-
Restaurant Overall Business Goals
Department Goals (e.g. Kitchen, Service, Bar)
Individual Goals
Heartware
Hardware (systems)
![Page 20: Bonus Pocus, Karen Lur of aAdvantage Consulting](https://reader033.vdocuments.us/reader033/viewer/2022052700/55a598e21a28aba3258b466e/html5/thumbnails/20.jpg)
Copyright © aAdvantage Consulting 2014. All Intellectual Property Reserved. -20-www.aadvantage-consulting.com
Resources
![Page 21: Bonus Pocus, Karen Lur of aAdvantage Consulting](https://reader033.vdocuments.us/reader033/viewer/2022052700/55a598e21a28aba3258b466e/html5/thumbnails/21.jpg)
Copyright © aAdvantage Consulting 2014. All Intellectual Property Reserved. -21-
Industry Resource and Support
![Page 22: Bonus Pocus, Karen Lur of aAdvantage Consulting](https://reader033.vdocuments.us/reader033/viewer/2022052700/55a598e21a28aba3258b466e/html5/thumbnails/22.jpg)
Copyright © aAdvantage Consulting 2014. All Intellectual Property Reserved. -22-www.aadvantage-consulting.com
aAdvantage Consulting
![Page 23: Bonus Pocus, Karen Lur of aAdvantage Consulting](https://reader033.vdocuments.us/reader033/viewer/2022052700/55a598e21a28aba3258b466e/html5/thumbnails/23.jpg)
Copyright © aAdvantage Consulting 2014. All Intellectual Property Reserved. -23-
Seamless TransformationFrom Vision to Results, we enable aseamless transformation process with ourfull suite of integrated solutions.
Sustainable ImplementationWe partner you through bothorganisational and personal transitions byestablishing systems and processes andimplementing effective peopleengagement programmes.
Data-Driven InterventionWe breathe life into data, draw insightsand develop strategies to create relevantand impactful interventions.
Partnership for SuccessWe share your vision, goals andchallenges and take our engagementsbeyond the transactional, with the beliefthat a client’s success is a mark of ours.
Our Value Proposition
![Page 24: Bonus Pocus, Karen Lur of aAdvantage Consulting](https://reader033.vdocuments.us/reader033/viewer/2022052700/55a598e21a28aba3258b466e/html5/thumbnails/24.jpg)
Copyright © aAdvantage Consulting 2014. All Intellectual Property Reserved. -24-
Single point-of-contact solution partnerOur Integrated Solutions
• Strategic
• Implementation-focused
• Results-driven
• Sustainable
![Page 25: Bonus Pocus, Karen Lur of aAdvantage Consulting](https://reader033.vdocuments.us/reader033/viewer/2022052700/55a598e21a28aba3258b466e/html5/thumbnails/25.jpg)
Copyright © aAdvantage Consulting 2014. All Intellectual Property Reserved. -25-
Our Clients across Sectors
Private Sector Public Sector
![Page 26: Bonus Pocus, Karen Lur of aAdvantage Consulting](https://reader033.vdocuments.us/reader033/viewer/2022052700/55a598e21a28aba3258b466e/html5/thumbnails/26.jpg)
Copyright © aAdvantage Consulting 2014. All Intellectual Property Reserved. -26-
From Vision to Results
Partnering
clients in achieving
impactful implementation and
seamless transformation for
sustainable growth.
![Page 27: Bonus Pocus, Karen Lur of aAdvantage Consulting](https://reader033.vdocuments.us/reader033/viewer/2022052700/55a598e21a28aba3258b466e/html5/thumbnails/27.jpg)
Copyright © aAdvantage Consulting 2014. All Intellectual Property Reserved. -27-
From vision to results