Everything you do in compensation is communication

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Everything You Do in Compensation is Communications

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Speakers: Ann Bares Managing Partner Altura Consulting Group, LLC Margaret O’Hanlon Founder and Principal re:Think Consulting Dan Walter President and CEO Performensation


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Ladan Nikravan Senior Editor Workforce magazine


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Ann Bares Managing Partner Altura Consulting Group, LLC


Margaret O’Hanlon Founder and Principal re:Think Consulting

Dan Walter President and CEO Performensation

Workforce WEBINARS September 10, 2014

Everything You Do in

Compensation Is Communication

Today’s presenters

Ann Bares, Managing Partner Altura Consul<ng Group LLC Employee Compensa<on Solu<ons

Margaret O’Hanlon, Founder and Principal re:Think Consul<ng Total Rewards Communica<ons and Change Management

Dan Walter, President and CEO Performensa<on High Performance Compensa<on

© All rights reserved Everything We Do Is Communica6on

live from

© All rights reserved Everything You Do Is Communica6on

Why do we always feel. . .

°  Frustrated? °  Misunderstood? °  Overworked but underachieving? (Add a few more adjectives of your own . . .)

With the outcomes of our compensation communication efforts???


Amanda Pricing

« Compensation « «Professional « «

Often experiences this kind of frustration . . . Design, implement and manage was her mantra

Until she realized . . . HR is always exchanging information with employees

and executives whether we want to or not

Everything you do communicates,

so, why not do everything better?

Ü When we talk, when we don’t talk Ü When we explain, when we don’t Ü When we meet, when we don’t

Just like we scrutinize candidates


ü  Increased her influence

ü Gave her work more impact

Understanding that everything in compensation is communication

ü  Earned her a promotion

Made a big difference for Amanda

We’ll show you

1.  Facts How to do everything in compensation better

2. Reality How to do end-of-year implementation better

3. Imagination What happened when Amanda dreamt big

How it can make a big difference for you

FACT: We do everything better When we treat compensation as communication


OK, but what should I do differently?


Today’s topics




Let’s start at the beginning

Ü

Identify problems and describe solutions

n  Plan to influence behavior

n  Go beyond surface symptoms to achieve deeper understanding

n  Unplug from your desk and talk with employees, managers and execs

n  Identify the biggest potential obstacles to plan success

1


Star% here!!!

Identify problems and describe solutions 1


Be courageous!

Dial up the power of

your compensation plan by recognizing and

taking control of the story it tells!

Preliminary design

1.  Understand plan design is communication

2.  Be clear about what the design asks of managers and employees

3.  Build trust with managers – be candid about how much they can and will do

4.  Start talking about implementation NOW, in step 2

(No, we’re not kidding)


2

Preliminary design


Tell the truth!

Accept that plan success DEMANDS CHANGE

from the people in your company

2

So, don’t kid yourself . . . Your managers can either make or break your plan

Acting as if

information is

the same as change

Test design

Start to 1.  Project changes into the

future to understand how to make them happen

2.  Beta test your ideas and materials

3.  Understand managers ideas and feelings

3


Finalize design and documentation

5 ways to do it better

1.  Itemize ineffective things managers and employees should stop doing under new plan

2.  Make another list of what they should start doing 3.  Analyze the gap between start and stop 4.  Invite communicators to take a look 5.  Write the #&!%* plan document and

administration guide

4


Turn design into implementation plan 5

Everything You Do Is Communica6on © All rights reserved


1.  Give yourself enough time to get a good plan together

2.  Connect with communicators 3.  Make managers your priority 4.  Don’t get in the way of managers doing their work

5.  Manage your expectations and your leadership’s

It’s time to add a reality check


2. Reality Tips for end-of-year implementation


Ü

Ü

Plan design finished? What’s next?

1.  What are you asking your managers to do this year?

2.  Is it a (big) change?

3.  What’s got you worried?

Executives and managers implement

Real change demands follow through but

WE DON’T DO IT

We rollout on an effective date

and then we move on

Everything You Do Is Communica6on

6

© All rights reserved

Here’s where we oOen fall short . . .



1.  Plan behavioral milestones for execs and managers

2.  Conduct research throughout the year 3.  Notice problems that pop up later in the year 4.  Provide communications and coaching based on

your research 5.  Invest in manager training that delivers results


6


How to create behavioral milestones 1.  Identify the check-in points through year to

measure implementation success to know §  Do they get it? §  Obstacles cropping up?

2.  Add measures of success

6


Example 90% of managers will review quarterly business reports with employees and discuss adjustments to objectives


þ  Track progress through interviews and focus groups

þ  Determine if they are developing habits that support the new plan

þ  Acknowledge what you overlooked in implementation planning and get it fixed

þ  Invest in coaching and training

6


Assess and address problems AS THEY OCCUR


Anything else about your implementation plan that you’d like to talk over

before we move on?

6


Measure program results 7



1.  Compensation is a living thing – welcome change and consider it healthy

2.  Measure results as often as data is available 3.  Adjust if you see problems on the horizon 4.  Don’t skip data you don’t understand

Adapt design and implementation plan to upcoming year

Your assignments for 2015

Create a feedback loop between business planning activities and the comp plan updating process

Work on 2015 compensation and communication plans as soon as you see holes in 2014’s plans

8


What happened when Amanda dreamt big!



3. Imagination

Ü


Amanda Pricing

« Compensation « « Professional « «

longs to have more

influence and do work

that has important strategic impact

Once upon a time . . .

But . . .

Pizza, Beer and a bed

White business Office

IMPACT

Step 5: Turn the compensation design into an implementation plan

Welcome to Step 6: Executives and Managers Implement

Time to communicate!

Step 7:

Measure Program Results

For Amanda

It’s not just a dream Everything we do in compensation is communication and we can do everything better . . .

www.EverythingIsCommunication.com

ü  Tips ü  How tos ü  DIY ü  Case studies

From your point of view

Special for Workforce attendees

only $19.95 until 9/13/14

Use code: 8 steps

Dan Walter. President and CEO. [email protected] 415 625 3406

Contact us for everything you do!

Ann Bares. Managing Partner. [email protected] 763 745 9425

Margaret O’Hanlon, CCP. Founder and Principal. [email protected] 415 457 3774

© All rights reserved

Compensation & career path design.

Communication & implementation.

Training. Writing. Research.

Reward problem definition.

Broad-‐based compensation strategy and plan design.

Sales incentives.

Equity Compensation Design.

LTI / Performance Compensation.

Startups. IPOs. Fortune 1000.

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Everything you do in compensation is communication

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