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Driving Performance Total Rewards Framework & IC Communication Kurt Nelson, PhD
| Date post: | 18-Feb-2017 |
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Driving PerformanceTotal Rewards Framework &
IC Communication
Kurt Nelson, PhD
We specialize in
by maximizing the effectiveness of your total rewards strategy, compensation systems, recognition
programs and incentive contests through developing a total rewards framework and/or effectively
communicating your rewards programs.
“The central issue is never strategy, structure, culture, or systems. The
core of the matter is always about
changing the behavior of people.”
John Kotter - Harvard Business School
DRIVING PERFORMANCE
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Total Rewards 3-Step Process
Total Reward Framework Conduct a total reward audit
leading to the design of holistic total reward framework to drive
desired behaviors
Incentive Compensation Design Modeling / Testing
Develop & model IC plan designs
Incentive Plan Communication
Create and implement IC / reward communication plan
The Lantern Group takes a holistic approach to incentive compensation – looking specifically at how incentive compensation fits into the larger total rewards
framework and how you drive understanding and buy-in to the plan after it has been developed. We see this as a three-step process.
*Lantern Group helps with the blue shaded boxes and can bring in outside experts to help in the gray shaded areas.
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Consulting Process Framework
Audit/Key Stakeholder Interviews
Initial analysis and in-person interviews with key leaders and
stakeholders
Advisory Focus Groups Focus groups designed to uncover behavioral drivers
and key gaps
Employee Interviews
Phone interviews that provide deeper insight into gaps and
proposed changes
Analysis and Framework Assess and analyze data (program info and interviews)
to develop recommended framework
Stakeholder Alignment Summit Summit brings key stakeholders together to gain alignment on total rewards framework and SOPs
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4-Drive Model of Employee Motivation
Enhance IC Impact Communication / Training
UnderstandBehavioral Impact
Total rewards Communication Overview
Your IC Plans
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Communication Research
When direct manager’s present compensation information – participant satisfaction more than doublesCorp Executive Board - 2011
50%-70% of participants do not fully understand their compensation plans or how to maximize their earningsThe Lantern Group- 2013
Graphics improves retention by 38% and are 43% more effective in persuading viewers to take a desired course of actionMinnesota School of Management - 2006
Communicating about pay 1 time reduces satisfaction while
increasing to 3 – 4 times improves satisfaction by 70%
Corp Executive Board - 2011
“…most managers are insufficiently prepared to
effectively execute and impact their organization’s
reward programs.”Hay Group - 2009
The top items that managers want to know:
1. Link to business 2. How to “Win” with plan3. Why changes occurred4. Total Reward philosophy
The Lantern Group/ World at Work - 2012 / 2010
x2
50-70%
x3 = +70%
+38% & +43%
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Communication Campaign
Our Communication Process
IC Data collection• Assess key data on
current and future IC plans, contests, recognition programs, etc.
Incentive Compensation Audit
Training Campaign
Understand participant experience & perception • Field interviews • Focus groups• Electronic surveys
Develop easy to use training to drive understanding and buy-in for:
• District Manager* • Sales Representatives
*Key audience
Develop Communications Brand Campaign focused onthe end users:• District Managers • Sales Representatives*
*Key audience
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Communication Examples PPT Workshops Plan Guidebooks
Maximizing My Payout GuidesQuick Reference Guides
Manager Kits White Board Videos
…and many more depending on need
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Typical Campaign
Plan & Field Assessment
Overview e-Brief PPT Workshops
IC Plan Policy Book
Maximizing My Payout Guides Follow up Field Assessment
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Why The Lantern Group
We provide results: our process helps drive the behavior of your sales representatives and increase the bottom line
We have experience: over 14 years of focusing on understanding how Total Rewards and your IC plans drive behavior and in developing marketing and communicating that drive understanding and buy-in from the field
We have a dedicated team: our team brings expertise in both incentive compensation/behavior change as well as communications and training – we have design directors, account managers, training specialists, graphic designers, copywriters, and organizational psychologists who are all dedicated to this business
We deliver on tight time frames: we understand that plans often have last minute changes, we plan for this and can deliver on tight time frames
We make it easy for you…
“In my 7 years with the company, I’ve never had a plan explained this clearly to me before.”
Division Manager, BioTech Firm
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www.lanterngroup.com
612-396-6392
