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Total Rewards in - SARA storage/Documents/Anne Ruddy.pdf · Anne Ruddy, CCP, CPCU WorldatWork Total...

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Presented by Anne Ruddy, CCP, CPCU WorldatWork Total Rewards in the “New Normal” South African Rewards Association
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Page 1: Total Rewards in - SARA storage/Documents/Anne Ruddy.pdf · Anne Ruddy, CCP, CPCU WorldatWork Total Rewards in the “New Normal” ... Social Media Organizational Friend or Foe?

Presented by

Anne Ruddy, CCP, CPCU

WorldatWork

Total Rewards in

the “New Normal”

South African Rewards Association

Page 2: Total Rewards in - SARA storage/Documents/Anne Ruddy.pdf · Anne Ruddy, CCP, CPCU WorldatWork Total Rewards in the “New Normal” ... Social Media Organizational Friend or Foe?

Financial Crisis

Workforce Skill Workforce Skill Shortage

Increasing Work-life Demands

Workforce Demographics

Technology

Regulation

Total Rewards in the “New Normal”

Page 3: Total Rewards in - SARA storage/Documents/Anne Ruddy.pdf · Anne Ruddy, CCP, CPCU WorldatWork Total Rewards in the “New Normal” ... Social Media Organizational Friend or Foe?

Total Rewards in the “New Normal”

A BRIEF

HISTORY WORLD OF THE

OF REWARDS

Page 4: Total Rewards in - SARA storage/Documents/Anne Ruddy.pdf · Anne Ruddy, CCP, CPCU WorldatWork Total Rewards in the “New Normal” ... Social Media Organizational Friend or Foe?

1970s

Page 5: Total Rewards in - SARA storage/Documents/Anne Ruddy.pdf · Anne Ruddy, CCP, CPCU WorldatWork Total Rewards in the “New Normal” ... Social Media Organizational Friend or Foe?

1980’s and 90’s

1980s and

1990s

Page 6: Total Rewards in - SARA storage/Documents/Anne Ruddy.pdf · Anne Ruddy, CCP, CPCU WorldatWork Total Rewards in the “New Normal” ... Social Media Organizational Friend or Foe?

2000 to

2008

Page 7: Total Rewards in - SARA storage/Documents/Anne Ruddy.pdf · Anne Ruddy, CCP, CPCU WorldatWork Total Rewards in the “New Normal” ... Social Media Organizational Friend or Foe?

We can’t guarantee

anything now or in

the future…

● [headline]

Present

Page 8: Total Rewards in - SARA storage/Documents/Anne Ruddy.pdf · Anne Ruddy, CCP, CPCU WorldatWork Total Rewards in the “New Normal” ... Social Media Organizational Friend or Foe?

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

Page 9: Total Rewards in - SARA storage/Documents/Anne Ruddy.pdf · Anne Ruddy, CCP, CPCU WorldatWork Total Rewards in the “New Normal” ... Social Media Organizational Friend or Foe?

Total Rewards in the “New Normal”

The old normal: Our employees

understand the cost of

our investment in them.

Page 10: Total Rewards in - SARA storage/Documents/Anne Ruddy.pdf · Anne Ruddy, CCP, CPCU WorldatWork Total Rewards in the “New Normal” ... Social Media Organizational Friend or Foe?

Total Rewards in the “New Normal”

EVP Design

and Message

Management

The new normal:

Page 11: Total Rewards in - SARA storage/Documents/Anne Ruddy.pdf · Anne Ruddy, CCP, CPCU WorldatWork Total Rewards in the “New Normal” ... Social Media Organizational Friend or Foe?

Total Rewards in the “New Normal”

Social Media

Organizational Friend or Foe?

Page 12: Total Rewards in - SARA storage/Documents/Anne Ruddy.pdf · Anne Ruddy, CCP, CPCU WorldatWork Total Rewards in the “New Normal” ... Social Media Organizational Friend or Foe?

Total Rewards in the “New Normal”

GlGl bal Town Hallbal Town Hall

Page 13: Total Rewards in - SARA storage/Documents/Anne Ruddy.pdf · Anne Ruddy, CCP, CPCU WorldatWork Total Rewards in the “New Normal” ... Social Media Organizational Friend or Foe?

Total Rewards in the “New Normal”

The old normal:

“Pay Levels”

Page 14: Total Rewards in - SARA storage/Documents/Anne Ruddy.pdf · Anne Ruddy, CCP, CPCU WorldatWork Total Rewards in the “New Normal” ... Social Media Organizational Friend or Foe?

Total Rewards in the “New Normal”

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

The new normal:

Page 15: Total Rewards in - SARA storage/Documents/Anne Ruddy.pdf · Anne Ruddy, CCP, CPCU WorldatWork Total Rewards in the “New Normal” ... Social Media Organizational Friend or Foe?

Four Generations in the Workplace

Organization

38% GenY (1976-1994)

37% Boomers

(1946-1964)

22% GenX (1965-1975)

3% Silent

(1900-1945)

Page 16: Total Rewards in - SARA storage/Documents/Anne Ruddy.pdf · Anne Ruddy, CCP, CPCU WorldatWork Total Rewards in the “New Normal” ... Social Media Organizational Friend or Foe?

Total Rewards in the “New Normal”

The old normal:

Pay is THE motivator.

Page 17: Total Rewards in - SARA storage/Documents/Anne Ruddy.pdf · Anne Ruddy, CCP, CPCU WorldatWork Total Rewards in the “New Normal” ... Social Media Organizational Friend or Foe?

Total Rewards in the “New Normal”

Intangibles

count!

The new normal:

Page 18: Total Rewards in - SARA storage/Documents/Anne Ruddy.pdf · Anne Ruddy, CCP, CPCU WorldatWork Total Rewards in the “New Normal” ... Social Media Organizational Friend or Foe?

Total Rewards in the “New Normal”

What matters now? • Interesting work and job design

• Flexibility (environment, career)

• Recognition and appreciation

• Development and opportunity

Page 19: Total Rewards in - SARA storage/Documents/Anne Ruddy.pdf · Anne Ruddy, CCP, CPCU WorldatWork Total Rewards in the “New Normal” ... Social Media Organizational Friend or Foe?

Total Rewards in the “New Normal”

Build it and

they will come

The old normal:

Page 20: Total Rewards in - SARA storage/Documents/Anne Ruddy.pdf · Anne Ruddy, CCP, CPCU WorldatWork Total Rewards in the “New Normal” ... Social Media Organizational Friend or Foe?

Total Rewards in the “New Normal”

Line managers must be customers. They are your messengers!

The new normal:

Page 21: Total Rewards in - SARA storage/Documents/Anne Ruddy.pdf · Anne Ruddy, CCP, CPCU WorldatWork Total Rewards in the “New Normal” ... Social Media Organizational Friend or Foe?

Total Rewards in the “New Normal”

What can YOU DO

TODAY?

Page 22: Total Rewards in - SARA storage/Documents/Anne Ruddy.pdf · Anne Ruddy, CCP, CPCU WorldatWork Total Rewards in the “New Normal” ... Social Media Organizational Friend or Foe?

Explicitly link rewards design,

administration and communication

to your organization’s reward

philosophy and employee

value proposition.

ntegrate!

Page 23: Total Rewards in - SARA storage/Documents/Anne Ruddy.pdf · Anne Ruddy, CCP, CPCU WorldatWork Total Rewards in the “New Normal” ... Social Media Organizational Friend or Foe?

Identify champions in your

organization to help position

rewards within a broader

framework of human

capital management.

nfluence!

Page 24: Total Rewards in - SARA storage/Documents/Anne Ruddy.pdf · Anne Ruddy, CCP, CPCU WorldatWork Total Rewards in the “New Normal” ... Social Media Organizational Friend or Foe?

Create “line of sight” between

your company’s rewards strategy

and its business objectives.

nnovate!

Page 25: Total Rewards in - SARA storage/Documents/Anne Ruddy.pdf · Anne Ruddy, CCP, CPCU WorldatWork Total Rewards in the “New Normal” ... Social Media Organizational Friend or Foe?

Build enthusiasm and

engagement by delivering

not only economic – but

emotional – value through

your total rewards programs.

nspire!

Page 26: Total Rewards in - SARA storage/Documents/Anne Ruddy.pdf · Anne Ruddy, CCP, CPCU WorldatWork Total Rewards in the “New Normal” ... Social Media Organizational Friend or Foe?
Page 27: Total Rewards in - SARA storage/Documents/Anne Ruddy.pdf · Anne Ruddy, CCP, CPCU WorldatWork Total Rewards in the “New Normal” ... Social Media Organizational Friend or Foe?
Page 28: Total Rewards in - SARA storage/Documents/Anne Ruddy.pdf · Anne Ruddy, CCP, CPCU WorldatWork Total Rewards in the “New Normal” ... Social Media Organizational Friend or Foe?

8 to 5 at the Office:

Still the Norm

Page 29: Total Rewards in - SARA storage/Documents/Anne Ruddy.pdf · Anne Ruddy, CCP, CPCU WorldatWork Total Rewards in the “New Normal” ... Social Media Organizational Friend or Foe?
Page 30: Total Rewards in - SARA storage/Documents/Anne Ruddy.pdf · Anne Ruddy, CCP, CPCU WorldatWork Total Rewards in the “New Normal” ... Social Media Organizational Friend or Foe?
Page 31: Total Rewards in - SARA storage/Documents/Anne Ruddy.pdf · Anne Ruddy, CCP, CPCU WorldatWork Total Rewards in the “New Normal” ... Social Media Organizational Friend or Foe?
Page 32: Total Rewards in - SARA storage/Documents/Anne Ruddy.pdf · Anne Ruddy, CCP, CPCU WorldatWork Total Rewards in the “New Normal” ... Social Media Organizational Friend or Foe?

WorldatWork Global Headquarters

14040 N. Northsight Blvd.

Scottsdale, AZ 85260 USA

480/922-2020 or 877/951-9191

Thank You


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