Download - The Employee Value Proposition
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Committed People. Infinite Possibilities.
The Employee Value
Proposition
Guest Presenter: Tony KerekesNVision Consulting Ltd.
TalentTakeawayswebinar & podcast series
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AGENDAThe Series
TalentTakeawayswebinar & podcast series
Talent Takeaways Series
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AGENDAAGENDAThe Sponsor
Talent Takeaways Series
Talent Management Made for Managers
Compensation Planning Total RewardsStay Interviews
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Committed People. Infinite Possibilities.
How to Increase the Perceived Value of Your Total Rewards
Tony KerekesNVision Consulting Ltd.416-406-2308
© 2011
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© 2011 (416) 466-30105
Session Outline/Outcomes
• Keys to building an effective total rewards engagement strategy (for employees, contractors and freelancers)
• How to turn total rewards into retention• How to develop a calendar of just-in-time
communication (that you can keep up with)• Tips and strategies for communicating total rewards to
today’s workforce• How to leverage varied communication styles and
approaches • You signed up to have a few tips or nuggets to try!
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© 2011 (416) 466-30106
Why Communicate?
?
Raise The Perceived Value
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© 2011 (416) 466-30107
We Have To But Low Response/Complex
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© 2011 (416) 466-30108
Drive Business Goals – KISS Dashboards
• Connect business plan and bonus• Align sales comp plan with goals and CRM• Practical Examples:
Performance management Celebrate goals visibly like LTA Recognize desired behaviours
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© 2011 (416) 466-30109
Raise Perceived Value • Quantify and compare
Manage employees’ perceptions (hard to value “Total Comp”)
Communicate philosophy (e.g. competitive, market leader)
If there is trust, its believed, if not – bigger issues• Advertise the “product” – the recruiters do with theirs
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© 2011 (416) 466-301010
Raise Perceived Value - Managers
• The surveys say... Best way to get a raise – switch employers? Poor link between good performance and pay
increases - low pay differentials – do you pay 5X Pay administration could be better (Steve Carrell) Rank work/life as #1 or #2 reason
in taking a job – are your managers your rewards brokers? Give them tools to KYC.
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© 2011 (416) 466-301011
Raise Perceived Value - Rewards
Total Value Statement – Employee vs Contractor
Base
+ Bonus pay
+ Government benefits
+ Time off
+ Benefits
+ Pension
+ Other (L&D, enviro)
= Total
100%________
________
________
________
________
________
________
________
Paid Degree
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© 2011 (416) 466-301012
Breaking through the Barriers to Communication
?
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© 2011 (416) 466-301013
Ask Employees – Set Goals
• How employees perceive the current program• How well they understand it• How they get information about pay and benefits
(formal and informal)• What are their communication preferences?• Tools: surveys, focus groups, interviews, anecdotes• Set goals to improve (SMART)
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© 2011 (416) 466-301014
Identify Audiences and Needs
• Identify the needs and characteristics at each target audience (including concerns, sensitivities, dual roles, etc.)
• Consider learning styles (giving directions) and focus eg USA Today
• Look at demographic bands - age, level, salary, other• Consider the effect you want to create.• Consider contractors/freelancers
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© 2011 (416) 466-301015
Lead The Work
SHRM study of C-Level executives, including HR executives, in
which 40 percent anticipated that a non-traditional employment model (or project-
based employment) would be the employment model in the next decade.
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© 2011 (416) 466-301016
Lead The Work
• Marketing has used freelancers for years• Can deconstruct roles like JE eg compensation
manager
Other
High End
WorkLow end
Work
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© 2011 (416) 466-301017
Offer and Communicate TR to HIPO Pool?
17
Eg Wonolo
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© 2011 (416) 466-301018
Identify Tactics and Tools
?
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© 2011 (416) 466-301019
Planning – Provide a Roadmap
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© 2011 (416) 466-301020
Make it Visual
• Headlines get 5 times the readership• Twice as many people read photo captions• Headlines, subheads, menus and bold text should tell
the reader what is being explained in the text• Illustrations and graphics — simple & catch the eye• Look beyond the individual page - telling a story (deal
pitches)
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© 2011 (416) 466-301021
KISS – The One Minute News Cast
• Promise the reader: a benefit (WIIFM) news helpful information
• Make your promise specific, for example:
“With the improved incentive plan, your income could increase by 10%. Let’s see how.”
or
“No one will be disadvantaged by this change.”
KISS - “Short words are best, and the old words when short are best of all”W. Churchill
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© 2011 (416) 466-301022
Use Characters
• Rather than a complex pension formula, use an identifiable character, e.g.a “Rick”
• Employees can generalize personal circumstances from the character presented. Therefore, the characters should be: Specific (provide details) Relevant to audience (age, income) Easy to understand
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© 2011 (416) 466-301023
How is Your TR Content Organized
Build e-bridges among HR dept functions to showcase TR
401K Work ExpLearning Policy Benefits
HR
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© 2011 (416) 466-301024
Summary – Connect Dots
?
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AGENDAAGENDA NVision Consulting Ltd.
Talent Takeaways Series
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REWARDview | Total Rewards Software
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Connect, Communicate & Engage With Your Employees