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Total Rewards in - Home - SARA Ruddy.pdf · PDF file 2020-07-24 · motivation,...

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  • Presented by

    Anne Ruddy, CCP, CPCU

    WorldatWork

    Total Rewards in

    the “New Normal”

    South African Rewards Association

  • Financial Crisis

    Workforce Skill Workforce Skill Shortage

    Increasing Work-life Demands

    Workforce Demographics

    Technology

    Regulation

    Total Rewards in the “New Normal”

  • Total Rewards in the “New Normal”

    A BRIEF

    HISTORY WORLD OF THE

    OF REWARDS

  • 1970s

  • 1980’s and 90’s

    1980s and

    1990s

  • 2000 to

    2008

  •  We can’t guarantee

    anything now or in

    the future…

    ● [headline]

    Present

  • The “deal” has certainly changed, but …

    The new normal:

    Costs

    continue

    to rise

    Satisfaction

    continues to

    decline and …

    The central challenge (attraction,

    motivation, retention) remains

  • Total Rewards in the “New Normal”

    The old normal: Our employees

    understand the cost of

    our investment in them.

  • Total Rewards in the “New Normal”

    EVP Design

    and Message

    Management

    The new normal:

  • Total Rewards in the “New Normal”

    Social Media

    Organizational Friend or Foe?

  • Total Rewards in the “New Normal”

    GlGl bal Town Hallbal Town Hall

  • Total Rewards in the “New Normal”

    The old normal:

    “Pay Levels”

  • Total Rewards in the “New Normal”

    “Pay Design and Strategy” Differentiate mix, group, purpose, motivation

    The new normal:

  • Four Generations in the Workplace

    Organization

    38% GenY (1976-1994)

    37% Boomers

    (1946-1964)

    22% GenX (1965-1975)

    3% Silent

    (1900-1945)

  • Total Rewards in the “New Normal”

    The old normal:

    Pay is THE motivator.

  • Total Rewards in the “New Normal”

    Intangibles

    count!

    The new normal:

  • Total Rewards in the “New Normal”

    What matters now? • Interesting work and job design

    • Flexibility (environment, career)

    • Recognition and appreciation

    • Development and opportunity

  • Total Rewards in the “New Normal”

    Build it and

    they will come

    The old normal:

  • Total Rewards in the “New Normal”

    Line managers must be customers. They are your messengers!

    The new normal:

  • Total Rewards in the “New Normal”

    What can YOU DO

    TODAY?

  • Explicitly link rewards design,

    administration and communication

    to your organization’s reward

    philosophy and employee

    value proposition.

    ntegrate!

  • Identify champions in your

    organization to help position

    rewards within a broader

    framework of human

    capital management.

    nfluence!

  • Create “line of sight” between

    your company’s rewards strategy

    and its business objectives.

    nnovate!

  • Build enthusiasm and

    engagement by delivering

    not only economic – but

    emotional – value through

    your total rewards programs.

    nspire!

  • 8 to 5 at the Office:

    Still the Norm

  • WorldatWork Global Headquarters

    14040 N. Northsight Blvd.

    Scottsdale, AZ 85260 USA

    480/922-2020 or 877/951-9191

    Thank You

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