Committed People. Infinite Possibilities.

The Employee Value

Proposition

Guest Presenter: Tony KerekesNVision Consulting Ltd.

TalentTakeawayswebinar & podcast series

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TalentTakeawayswebinar & podcast series

Talent Takeaways Series

AGENDAAGENDAThe Sponsor

Talent Takeaways Series

Talent Management Made for Managers

Compensation Planning Total RewardsStay Interviews

Committed People. Infinite Possibilities.

How to Increase the Perceived Value of Your Total Rewards

Tony KerekesNVision Consulting Ltd.416-406-2308

© 2011

© 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!

© 2011 (416) 466-30106

Why Communicate?

?

Raise The Perceived Value

© 2011 (416) 466-30107

We Have To But Low Response/Complex

© 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

© 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

© 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.

© 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

© 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)

© 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

© 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.

© 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

© 2011 (416) 466-301017

Offer and Communicate TR to HIPO Pool?

17

Eg Wonolo

© 2011 (416) 466-301018

Identify Tactics and Tools

?

© 2011 (416) 466-301019

Planning – Provide a Roadmap

© 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)

© 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

© 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

© 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

© 2011 (416) 466-301024

Summary – Connect Dots

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AGENDAAGENDA NVision Consulting Ltd.

Talent Takeaways Series

416-406-2308tony@nvisionconsulting.cawww.nvisionconsulting.ca

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