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Total Rewards
Framework:
Developing a compelling employee
experience for a changing workforce
Guest Presenter: Steve Gross...
AGENDAThe Series
TalentTakeaways
webinar & podcast series
Talent Takeaways Series
AGENDAAGENDA
✓ Resource Library
✓ Product Information
✓ Product Tour & Demo
The Sponsor
Talent Takeaways Series
Talent Man...
AGENDAWebinar Info
Talent Takeaways Series
✓ We are informal (and fun)
✓ Ask Questions!
✓ Q&A Session at end
✓ HRCI Credit...
AGENDAThe Presenter
Talent Takeaways Series
Steve Gross is a Senior Partner at Mercer. He
specializes in developing total ...
© MERCER 2017 6
A G E N D A
P U R P O S E
P I C T U R E
P L A N
PA R T T O P L AY
Identify external factors that will infl...
© MERCER 2017 7
E X T E R N A L F A C T O R S I M P A C T I N G T H E E M P L O Y E E
E X P E R I E N C E
7
GLOBALIZATION
...
© MERCER 2017 8
EMPLOYEES
E X T E R N A L F A C T O R S I N F L U E N C I N G T H E E M P L O Y E E
E X P E R I E N C E
M ...
© MERCER 2017 9
E X T E R N A L F A C T O R S I N F L U E N C I N G T H E E M P L O Y E E
E X P E R I E N C E
I N C R E A ...
© MERCER 2017 10
Source: Mercer “Inside Employee Minds”
BABY BOOMERS
(Born 1946 – 1964)
Base pay
Retirement plan
Type of w...
© MERCER 2017 11
EMPLOYEES AGREE WITH THE FOLLOWING:
ALL
EES
DIFFERENCE:
MILLENNIALS
Promotions are generally given to the...
© MERCER 2017 12
HOW WILL
ORGANIZATIONS
RESPOND?
© MERCER 2017 1313
CURATE
COMPELLING
CAREERS
SHIFT FROM AN
EVP TO IVP
H O W W I L L O R G A N I Z AT I O N S R E S P O N D...
© MERCER 2017 14
PROCESSESCAREERSEVPTOIVP
C O M P E N S A T I O N
D I S T R I B U T I O N
C A R E E R S
T A L E N T
S T R ...
© MERCER 2017 15
S H I F T F R O M A N E V P T O A N I V P
P E R S O N A L I Z I N G A N E V P R E Q U I R E S M A K I N G...
© MERCER 2017 16
S H I F T F R O M A N E V P T O A N I V P
P O L L I N G Q U E S T I O N
16
How important is the emotional...
© MERCER 2017 17
S H I F T F R O M A N E V P T O A N I V P
E V A L U A T I N G T H E E M P L O Y E E E X P E R I E N C E
U...
© MERCER 2017 18
S H I F T F R O M A N E V P T O A N I V P
E V A L U A T I N G T H E E M P L O Y E E E X P E R I E N C E
T...
© MERCER 2017 19
S E G M E N T AT I O N : P E R S O N A S
S A M P L E : P E R S O N A ’ S C O N C E R N S
( C L I E N T E ...
© MERCER 2017 20
S E G M E N T AT I O N : P E R S O N A S
S A M P L E : P E R S O N A ’ S C O N C E R N S
( C L I E N T E ...
© MERCER 2017 2121
v
v
S H I F T F R O M A N E V P T O A N I V P
O R G A N I Z A T I O N S A R E L O O K I N G A T T H E T...
© MERCER 2017 22
Rewards
Performance
Management
Selection
& Retention
Succession
Management
Workforce
Planning
Career
Mana...
© MERCER 2017 23
Employees want to explore opportunities to move vertically
and horizontally and know how to realize their...
© MERCER 2017 24
E M P L O Y E E S
Believe company is doing enough
to keep their skills relevant
25%
O R G AN I Z AT I O N...
© MERCER 2017 25
T R A N S F O R M T A L E N T P R O C E S S E S
D R I V I N G E F F I C I E N C I E S F O R M A N A G E R...
© MERCER 2017 26
E X P E R I M E N T A T I O N
H A P P E N I N G
M E A S U R I N G R O I
W I L L P E R F O R M A N C E
D R...
© MERCER 2017 27
T R A N S F O R M T A L E N T P R O C E S S E S
R A T I N G S D E B A T E I S C O N T I N U I N G
D E - L...
© MERCER 2017 28
T R A N S F O R M T A L E N T P R O C E S S E S
P O L L I N G Q U E S T I O N
Is your organization planni...
© MERCER 2017 29
© MERCER 2017
Source: 2016/2017 US Mercer Compensation Planning Report, effective July 2016.
Using indivi...
© MERCER 2017 30
HOW TO RE-CRAFT THE
EMPLOYEE EXPERIENCE
© MERCER 2017 31
H O W T O R E - C R A F T T H E E M P L O Y E E E X P E R I E N C E
T H I N K H O L I S T I C A L L Y A B...
© MERCER 2017 32
H O W T O R E - C R A F T T H E E M P L O Y E E E X P E R I E N C E
U S E M U L T I P L E L E N S E S A N...
© MERCER 2017 33
H O W T O R E C R A F T T H E E M P L O Y E E E X P E R I E N C E
U T I L I Z E W O R K F O R C E A N A L...
© MERCER 2017 34
H O W T O R E - C R A F T T H E E M P L O Y E E E X P E R I E N C E
C O M B I N E F A C T S T O D E V E L...
© MERCER 2017 35
H O W T O R E - C R A F T T H E E M P L O Y E E E X P E R I E N C E
E M P L O Y E E P R E F E R E N C E S...
© MERCER 2017 36
H O W T O R E - C R A F T T H E E M P L O Y E E E X P E R I E N C E
U N D E R S T A N D I N G E M P L O Y...
© MERCER 2017 37
H O W T O R E - C R A F T T H E E M P L O Y E E E X P E R I E N C E
I N T E G R A T E S A Y / D O A N A L...
© MERCER 2017 38
H O W T O R E - C R A F T T H E E M P L O Y E E E X P E R I E N C E
S E T G U I D I N G P R I N C I P L E...
© MERCER 2017 39
H O W T O R E - C R A F T T H E E M P L O Y E E E X P E R I E N C E
D E V E L O P A B L U E P R I N T ( C...
© MERCER 2017 4040
Use of game
mechanics
to guide career paths
Personal and
relevant information
Authenticity
that resonat...
© MERCER 2017 4141
© MERCER 2017
T R A N S F O R M T A L E N T P R O C E S S E S
P E R S O N A L A N D R E L E V A N T I N...
© MERCER 2017 4242
© MERCER 2017
T R A N S F O R M T A L E N T P R O C E S S E S
U S E O F G A M E M E C H A N I C S T O G...
© MERCER 2017 43
H O W T O R E - C R A F T T H E E M P L O Y E E E X P E R I E N C E
C R E A T I N G A D A S H B O A R D T...
© MERCER 2017 44
CALL TO ACTION
© MERCER 2017 45
C A L L T O A C T I O N
W H A T C A N Y O U D O ?
EVPTOIVP
• Focus on employee experience through persona...
AGENDAQ & a
Talent Takeaways Series
Live Q&A
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Resources & Support
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✓ Resource Library
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HR...
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Total rewards framework -developing a compelling employee experience for a changing workforce

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The next five years are poised to bring more changes to the design and implementation of Total Rewards systems than we’ve seen in the last 20 years. Conventional approaches of organizations developing their own talent have been replaced with a “free agency” model of buying experience from competitors, which in turn ratchets up labor costs. This also creates more pressure to retain and engage existing employees and attract new employees through an improved employee value proposition.

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Total rewards framework -developing a compelling employee experience for a changing workforce

  1. 1. Total Rewards Framework: Developing a compelling employee experience for a changing workforce Guest Presenter: Steve Gross Senior Partner Mercer TalentTakeaways webinar & podcast series
  2. 2. AGENDAThe Series TalentTakeaways webinar & podcast series Talent Takeaways Series
  3. 3. AGENDAAGENDA ✓ Resource Library ✓ Product Information ✓ Product Tour & Demo The Sponsor Talent Takeaways Series Talent Management Made for Managers
  4. 4. AGENDAWebinar Info Talent Takeaways Series ✓ We are informal (and fun) ✓ Ask Questions! ✓ Q&A Session at end ✓ HRCI Credit ✓ Slides will be available after
  5. 5. AGENDAThe Presenter Talent Takeaways Series Steve Gross is a Senior Partner at Mercer. He specializes in developing total rewards and human capital strategies that support cultural change and pay for performance. Steve is an adjunct professor at Temple University, and has served as a faculty member of WorldatWork, SHRM and the American Management Association. He is a frequent speaker on compensation and human resource issues, and has authored over 50 publications concerning compensation strategies, benefits and human resource issues including the book, Compensation for Teams. He holds a MBA from the Wharton School of the University of Pennsylvania. Steve Gross Senior Partner Mercer
  6. 6. © MERCER 2017 6 A G E N D A P U R P O S E P I C T U R E P L A N PA R T T O P L AY Identify external factors that will influence the experience of the workforce of the future and discuss how leading organizations are responding Create an inspiring to thrive environment How to recraft the employee experience Call to action
  7. 7. © MERCER 2017 7 E X T E R N A L F A C T O R S I M P A C T I N G T H E E M P L O Y E E E X P E R I E N C E 7 GLOBALIZATION • Global workforce management • Cultural sensitivity • Knowledge of local practices TALENT SCARCITY • Lack of workers with the right skill sets EVOLVING WORKFORCE DYNAMICS • Aging workforce, with seniors working longer • Multiple generations working side-by-side • Rapid increases in independent workers RAPID TECHNOLOGICAL CHANGE • Automation / AI changing the way work is done • Flexible work environments • Organizational reputation reshaped by social media SHIFTING EMPLOYEE REWARDS • Income growth divergence leading to social unrest / minimum wage pressure • Unsustainable healthcare trends • Pension plan declines
  8. 8. © MERCER 2017 8 EMPLOYEES E X T E R N A L F A C T O R S I N F L U E N C I N G T H E E M P L O Y E E E X P E R I E N C E M U L T I P L E G E N E R A T I O N S A R E C H A N G I N G W O R K F O R C E D Y N A M I C S 2% SILENTS (BORN 1928 – 1945) COMPANY LOYALTY, DEPENDABLE & RESPECTABLE “SAME COMPANY FOREVER” 29% 34% 35% BABY BOOMERS (BORN 1946 – 1964) LIVE TO WORK, LOYAL & IDEALISTIC “OFFICE FACE TIME” GEN X (BORN 1965 - 1980) WORK TO LIVE, RESOURCEFUL & CYNICAL “WORK SHOULD NOT DEFINE LIFE” Source: PEW Research Center. MILLENNIALS (BORN 1981 - 1997) WORK MY WAY, ENTITLED & IMPATIENT “OWN CAREERS, MEANINGFUL WORK”
  9. 9. © MERCER 2017 9 E X T E R N A L F A C T O R S I N F L U E N C I N G T H E E M P L O Y E E E X P E R I E N C E I N C R E A S I N G D E S I R E F O R B E N E F I T S C H O I C E A M O N G U S E M P L O Y E E S Source: Mercer 2015 Inside Employee Minds Survey. GENERATION PERCENT OF EMPLOYEES WANTING TO REDUCE/INCREASE VALUE OF SOME BENEFITS Silents (Born 1928-45) Baby Boomers (Born 1946-64) Gen X (Born 1965-1980) Millennials (Born 1981-1997) 38% 48% 59% 70% SILENTS (Born 1928 – 1945) BABY BOOMERS (Born 1946 – 1964) GEN X (Born 1965 – 1980) MILLENNIALS (Born 1981 - 1997)
  10. 10. © MERCER 2017 10 Source: Mercer “Inside Employee Minds” BABY BOOMERS (Born 1946 – 1964) Base pay Retirement plan Type of work Health care benefits Incentive pay Paid time off Flexible schedule Working for org. I respect Career opportunities Training opportunities GEN X (Born 1965 – 1980) Base pay Retirement plan Flexible schedule Health care benefits Incentive pay Paid time off Type of work Career opportunities Working for org. I respect Training opportunities MILLENNIALS (Born 1981 - 1997) Base pay Career opportunities Incentive pay Retirement plan Flexible schedule Health care benefits Paid time off Type of work Working for org. I respect Training opportunities SILENTS (Born 1928 – 1945) Base pay Retirement plan Paid time off Health care benefits Incentive pay Type of work Flexible schedule Working for org. I respect Career opportunities Training opportunities 1 2 3 4 5 6 7 8 9 10 EMPLOYEES E X T E R N A L F A C T O R S I N F L U E N C I N G T H E E M P L O Y E E E X P E R I E N C E D E E P E R L O O K A T G E N E R A T I O N A L P R E F E R E N C E S
  11. 11. © MERCER 2017 11 EMPLOYEES AGREE WITH THE FOLLOWING: ALL EES DIFFERENCE: MILLENNIALS Promotions are generally given to the most qualified employees in my organization 43% +11 I trust senior management in my organization to communicate honestly 48% +9 Managers in my organization demonstrate concern for the well-being of employees 51% +9 I believe that I have sufficient opportunity for growth and development in my organization 51% +9 I would recommend my organization to others as a good place to work 58% +6 At the present time, I am seriously considering leaving my organization 37% +7 E X T E R N A L F A C T O R S I N F L U E N C I N G T H E E M P L O Y E E E X P E R I E N C E Y O U N G E M P L O Y E E S D R I V I N G T H E ‘ H A P P Y B U T L E A V I N G ’ T R E N D Source: Mercer 2015 Inside Employee Minds No America Survey
  12. 12. © MERCER 2017 12 HOW WILL ORGANIZATIONS RESPOND?
  13. 13. © MERCER 2017 1313 CURATE COMPELLING CAREERS SHIFT FROM AN EVP TO IVP H O W W I L L O R G A N I Z AT I O N S R E S P O N D ? T H R E E K E Y T H E M E S TRANSFORM TALENT PROCESSES
  14. 14. © MERCER 2017 14 PROCESSESCAREERSEVPTOIVP C O M P E N S A T I O N D I S T R I B U T I O N C A R E E R S T A L E N T S T R A T E G Y D E V E L O P M E N T H R P R O C E S S E S H R C O M M U N I C A T I O N E M P L O Y E E R E L A T I O N S E M O T I O N A L C O N N E C T I O N V A L U E P R O P O S I T I O N H O W W I L L O R G A N I Z AT I O N S R E S P O N D ? E X P E C T E D C H A N G E S YESTERDAY 2017 2022 S TAN D AR D I Z E D P E R S O N AL I Z E D S P O R AD I C R E Q U I R E D AU T H O R I TAT I V E PAR T I C I PATO RY S TAI D C O M P E L L I N G R E AC T I V E P R O AC T I V E C L AS S R O O M E X P E R I E N T I AL S I L O E D S T R E AM L I N E D S H AR E D P E R F O R M AN C E D R I V E N S E L E C T I V E T R AN S PAR E N T
  15. 15. © MERCER 2017 15 S H I F T F R O M A N E V P T O A N I V P P E R S O N A L I Z I N G A N E V P R E Q U I R E S M A K I N G A N E M O T I O N A L C O N N E C T I O N W I T H E M P L O Y E E S AFFINITY PRIDE PURPOSE CULTURAL ALIGNMENT
  16. 16. © MERCER 2017 16 S H I F T F R O M A N E V P T O A N I V P P O L L I N G Q U E S T I O N 16 How important is the emotional connection in your EVP? a) Very important b) Somewhat important c) Not important
  17. 17. © MERCER 2017 17 S H I F T F R O M A N E V P T O A N I V P E V A L U A T I N G T H E E M P L O Y E E E X P E R I E N C E U S I N G P E R S O N A S ► Define the multiple characteristics/needs of your audiences ► Document combinations of needs, communication desires, interests, engagement approaches, etc. ► Improve engagement, make content and approaches relevant ► Use “tried and proven” techniques in HR and internal communications WHY? ► Multiple lenses for the organization to evaluate its programs ► Understanding how the emotional connection differs by persona ► Confirmation that one size does not fit all ► Direction for crafting an EVP that provides something for everyone HOW?
  18. 18. © MERCER 2017 18 S H I F T F R O M A N E V P T O A N I V P E V A L U A T I N G T H E E M P L O Y E E E X P E R I E N C E T H R O U G H M U L T I P L E L E N S E S S AM P L E P E R S O N A Starters (Lives paycheck to paycheck) Suburban Realists (Single Parent, Works 2nd job) Long Term Loyals (Team Leader) Urban Ambitions (My time, My place) Strivers (High performers) Managerial Core (Thinking about retirement) NEEDS PERSONAL DATA INTERESTS COMM PREFERENCES EMOTIONS SPENDING / WEALTH
  19. 19. © MERCER 2017 19 S E G M E N T AT I O N : P E R S O N A S S A M P L E : P E R S O N A ’ S C O N C E R N S ( C L I E N T E X A M P L E ) STRIVERS CHARACTERISTICS • 40 years old • 9 years service • $94k annual pay • Suburban Married KEY CARE-ABOUTS • Thinking about the future • “Being smart about how I do things” • Connected all the time • Help me get ahead • Balancing my career and my life FINDINGS • 25% manage 10+ employees • 15% have been promoted in last 2 years • 81% participate in medical plans • 86% participate in 401(k) • 57% are not well diversified in 401(k) • 11% are taking loans from 401(k) • 26% have dependent children entitled my future hopeful empowered treat getting ahead savvy social network curated
  20. 20. © MERCER 2017 20 S E G M E N T AT I O N : P E R S O N A S S A M P L E : P E R S O N A ’ S C O N C E R N S ( C L I E N T E X A M P L E ) STRIVERS: RECOMMENDED ACTIONS • Clarify promotion opportunity expectations • Focus communications (simple, don’t sell) • Offer financial and tax optimization guidance • Develop program to foster lateral mobility • Revise spot award programs
  21. 21. © MERCER 2017 2121 v v S H I F T F R O M A N E V P T O A N I V P O R G A N I Z A T I O N S A R E L O O K I N G A T T H E T E C H S E C T O R F O R W A Y S T O E N G A G E Source: 2015 Bay Area Technology Perquisites & Benefits Study 26% 60% 40%>90%84% >90% TELECOMMUTING Companies with work from home programs TIME OFF Companies with unlimited PTO FUN AND GAMES Companies with a rec room GLOBAL MOBILITY Companies with international business travelers FREE FOOD Companies offering free beverages or snacks HEALTH & WELLNESS Companies offering health or wellness programs % of Tech companies providing benefit
  22. 22. © MERCER 2017 22 Rewards Performance Management Selection & Retention Succession Management Workforce Planning Career Management © MERCER 2016 C U R A T I N G A C A R E E R E X P E R I E N C E C A R E E R F R A M E W O R K S P R O V I D E T H E F O U N D A T I O N Source: 2016/2017 US Mercer Compensation Planning Report, effective July 2016. 80% 78% 72% 65% 53% 47% Approximately 65% of organizations either have a career framework or plan to implement one. Organizations are at various stages of linking frameworks to HR programs (shown in green on the right)
  23. 23. © MERCER 2017 23 Employees want to explore opportunities to move vertically and horizontally and know how to realize their ambition. C U R A T I N G A C A R E E R E X P E R I E N C E E M P L O Y E E S S E E K I N G V I S I B I L I T Y O F O P P O R T U N I T I E S A N D S U P P O R T T O G E T T H E R E
  24. 24. © MERCER 2017 24 E M P L O Y E E S Believe company is doing enough to keep their skills relevant 25% O R G AN I Z AT I O N S 82% Plan to develop and promote from within C U R A T I N G A C A R E E R E X P E R I E N C E D E V E L O P M E N T I S A P R I O R I T Y , B U T T H E L A N D S C A P E I S C H A N G I N G As organizations seek to develop their talent from within, they’re faced with a rapidly changing L&D landscape: ► Shift from formal to informal learning ► Focus on experiential learning delivered at point of need ► Increase in self-directed learning ► Increase in crowd-sourced content Source: Mercer 2016 Talent Trends Study
  25. 25. © MERCER 2017 25 T R A N S F O R M T A L E N T P R O C E S S E S D R I V I N G E F F I C I E N C I E S F O R M A N A G E R S A N D E M P L O Y E E S MANAGERS WANT PROCESSES THAT REQUIRE MINIMAL TIME & EFFORT O R G AN I Z AT I O N S Believe talent management processes need an overhaul 85% Source: Mercer 2016 Talent Trends Study EMPLOYEES WANT CONSUMER-GRADE, TECHNOLOGY- ENABLED INTERACTIONS E M P L O Y E E S Believe their company’s HR processes are state of the art 4%
  26. 26. © MERCER 2017 26 E X P E R I M E N T A T I O N H A P P E N I N G M E A S U R I N G R O I W I L L P E R F O R M A N C E D R I V E B A S E P A Y ? E M P L O Y E E S L I K E R A T I N G S A N D F R E Q U E N T F E E D B A C K S H O U L D E M P L O Y E E S E X P E C T A N A N N U A L R A I S E ? I S T H I S T H E E N D O F M E R I T ? © MERCER 2017 26 T R A N S F O R M T A L E N T P R O C E S S E S I S S U E S S U R R O U N D I N G P E R F O R M A N C E M A N A G E M E N T A N D R E W A R D S
  27. 27. © MERCER 2017 27 T R A N S F O R M T A L E N T P R O C E S S E S R A T I N G S D E B A T E I S C O N T I N U I N G D E - LIN K ING PAY A N D PER FO R MA NC E M AD E C H AN G E S TO F E E D B AC K M E C H AN I S M S MO VED AWAY FR O M PERFO RMANCE RATINGS I N D E F E N S E O F P E R F O R M AN C E R AT I N G S
  28. 28. © MERCER 2017 28 T R A N S F O R M T A L E N T P R O C E S S E S P O L L I N G Q U E S T I O N Is your organization planning to eliminate performance ratings? a) Yes b) No c) Not sure
  29. 29. © MERCER 2017 29 © MERCER 2017 Source: 2016/2017 US Mercer Compensation Planning Report, effective July 2016. Using individual performance to drive base salary Considering individual performance when making incentive decisions 51% Working to improve pay differentiation based on performance 96% Planning to retain formal performance ratings in 2016 or beyond T R A N S F O R M T A L E N T P R O C E S S E S C O M P E N S A T I O N T R E N D S S H O W P A Y F O R P E R F O R M A N C E I S H E R E T O S T A Y 29 91% 63%
  30. 30. © MERCER 2017 30 HOW TO RE-CRAFT THE EMPLOYEE EXPERIENCE
  31. 31. © MERCER 2017 31 H O W T O R E - C R A F T T H E E M P L O Y E E E X P E R I E N C E T H I N K H O L I S T I C A L L Y A B O U T T H E E M P L O Y E E V A L U E P R O P O S I T I O N EMPLOYER PERSPECTIVE Compensation Benefits Careers Work/Life EMPLOYEE PERSPECTIVE My value today My financial security and protection My future value My quality of life
  32. 32. © MERCER 2017 32 H O W T O R E - C R A F T T H E E M P L O Y E E E X P E R I E N C E U S E M U L T I P L E L E N S E S A N D A S K T H E R I G H T Q U E S T I O N S • What does or should differentiate it from competing employment opportunities? • How do employees place VALUE on the current rewards package? • What are the labor and related rewards environments in which the COMPANY COMPETES? • How do they influence or constrain rewards practices that the company may wish to adopt? • What are workforce needs in terms of structure, behavior, capabilities and performance? • How should the rewards programs be designed and delivered in order to secure those workforce OUTCOMES? • Can the rewards programs designed to support the desired strategy be provided at an AFFORDABLE and SUSTAINABLE cost? • If not, how should they be modified to be financially viable? COST PERSPECTIVE EMPLOYER PERSPECTIVE EMPLOYEE PERSPECTIVE EXTERNAL PERSPECTIVE
  33. 33. © MERCER 2017 33 H O W T O R E C R A F T T H E E M P L O Y E E E X P E R I E N C E U T I L I Z E W O R K F O R C E A N A L Y T I C S Anecdotes Reactive checks Ongoing reports Benchmarks Correlations Simulations & forecasting Predictive modeling STRATEGIC VALUE MORE POWERFULLESS POWERFUL
  34. 34. © MERCER 2017 34 H O W T O R E - C R A F T T H E E M P L O Y E E E X P E R I E N C E C O M B I N E F A C T S T O D E V E L O P A N E V P T H A T S U P P O R T S T H E B U S I N E S S S T R A T E G Y “SAY” “DO”QUALITATIVE Employee perception QUANTITATIVE Employee behavior
  35. 35. © MERCER 2017 35 H O W T O R E - C R A F T T H E E M P L O Y E E E X P E R I E N C E E M P L O Y E E P R E F E R E N C E S : U N D E R S T A N D I N G I M P O R T A N C E V S S A T I S F A C T I O N V S C O S T ( E X A M P L E ) .
  36. 36. © MERCER 2017 36 H O W T O R E - C R A F T T H E E M P L O Y E E E X P E R I E N C E U N D E R S T A N D I N G E M P L O Y E E B E H A V I O R S – T U R N O V E R ( E X A M P L E )
  37. 37. © MERCER 2017 37 H O W T O R E - C R A F T T H E E M P L O Y E E E X P E R I E N C E I N T E G R A T E S A Y / D O A N A L Y S I S : S T R A T E G Y M A P ( C L I E N T E X A M P L E ) Element Cost Competitiveness Importance Satisfaction Driver of Retention Driver of Promotion Driver of Engagement Driver of Performance Promotion Opportunities $$ P25 Above. Avg. Below Avg. ▲ n/s ▲ ▲ Lateral mobility $ P25 Below Avg. Below Avg. n/s ▲ n/s ▲ Autonomy / Span of Control $ P50 Above. Avg. Above. Avg. ▼ ▲ n/s n/s Base Salary $$$ P75 Above. Avg. Above. Avg. n/s ▲ ▲ ▲ Retirement $$$ P75 Above. Avg. Above. Avg. n/s n/s n/s n/s Spot Awards $ P25 Below Avg. Below Avg. n/s n/s n/s n/s
  38. 38. © MERCER 2017 38 H O W T O R E - C R A F T T H E E M P L O Y E E E X P E R I E N C E S E T G U I D I N G P R I N C I P L E S ( C O R P O R A T E A N D P E R S O N A S P E C I F I C ) D E F I N E A S E T O F G U I D I N G P R I N C I P L E S t h a t w i l l f a c i l i t a t e t h e o r g a n i z a t i o n ’ s p h i l o s o p h y s e t t i n g , p l a n d e s i g n , a n d i m p l e m e n t a t i o n o f a d e c i s i o n m a k i n g f r a m e w o r k . EXAMPLES 1. Segmentation (degree of differentiation for workforce categories). 2. Role of reward element (purpose of each vehicle). 3. Comparator group (competitive business/labor market). 4. Competitive positioning (target percentile). 5. Performance orientation (differentiation, point of measurement, metrics). 6. Internal equity (importance of the internal relative value of work). 7. Affordability and sustainability (degree of cost control required). 8. Governance and accountability (decision-making structure). 9. Administration (approach and point of management). 10.Communication and transparency (approach and vehicles for information sharing). 11.Success measures (measuring and monitoring results).
  39. 39. © MERCER 2017 39 H O W T O R E - C R A F T T H E E M P L O Y E E E X P E R I E N C E D E V E L O P A B L U E P R I N T ( C O R P O R A T E A N D P E R S O N A S P E C I F I C ) B L U E P R I N T S p r o v i d e a n a t - a - g l a n c e i n v e n t o r y o f r e w a r d s p r o g r a m s . Role of reward element Competitive positioning Impact of positioning Metrics Compensation Base pay Attract and retain; reward building skills 25th percentile Risk tolerance Acceptance rate turnover; appropriate skills Annual incentives Reward individual/ unit/ corporate performance Base + STI = 75th percentile Performance orientation Business results Long-term incentives Link to shareholder value creation Base + STI + LTI = 90th percentile Rewards long-term growth Stock price growth Benefits Group benefits Personal risk management Leading edge design; 50th percentile Desirable employer Cost and value delivered Retirement Wealth accumulation 50th percentile Facilitate orderly retirement Retirement income adequacy; financial management Perquisites Tax efficiency Market practices Employment brand Cost; commitment index Careers Performance management Goal setting/ accountability Support “build” talent strategy Focused efforts Scorecard results Work/life balance Compelling place to work Environment difficult to match by competitors Attraction/retention of qualified staff Commitment index; turnover Workforce planning/pathin g Adequate supply of talent Balance pay/benefits w/ career opportunities Support “build” talent strategy Percentage of outside hires
  40. 40. © MERCER 2017 4040 Use of game mechanics to guide career paths Personal and relevant information Authenticity that resonates © MERCER 2017 F O U R AR E AS TO G E T R I G H T I N E M P L O Y E E C O M M U N I C AT I O N S Self-engaged career mapping T R A N S F O R M T A L E N T P R O C E S S E S E M P L O Y E E C O M M U N I C A T I O N 40
  41. 41. © MERCER 2017 4141 © MERCER 2017 T R A N S F O R M T A L E N T P R O C E S S E S P E R S O N A L A N D R E L E V A N T I N F O R M A T I O N • Personalized information • Dashboards of content at-a-glance 41
  42. 42. © MERCER 2017 4242 © MERCER 2017 T R A N S F O R M T A L E N T P R O C E S S E S U S E O F G A M E M E C H A N I C S T O G U I D E C A R E E R P A T H S Select a game Complete each game Review your personal behavior traits See what careers best match those traits 42
  43. 43. © MERCER 2017 43 H O W T O R E - C R A F T T H E E M P L O Y E E E X P E R I E N C E C R E A T I N G A D A S H B O A R D T O M E A S U R E O U T C O M E S Workforce demographics Turnover rates Percent quick quits Cost of turnover Workforce experience Employee commitment index Total HC investment Percent pay-performance related Training participation rates Employee satisfaction score Promotion rates Buy vs. build ratio Performance distribution (e.g., ratings, productivity, incentives, etc.) Percentiles– market pay Workforce velocity Hiring rates Total Training costs Median span of control Bonus participation rates Workforce demographics Turnover rates Percent quick quits Cost of turnover Workforce experience Employee commitment index Total HC investment Percent pay-performance related Training participation rates Employee satisfaction score Promotion rates Buy vs. build ratio Performance distribution (e.g., ratings, productivity, incentives, etc.) Percentiles– market pay Workforce velocity Hiring rates Total Training costs Median span of control Bonus participation rates Workforce demographics Turnover rates Percent quick quits Cost of turnover Workforce experience Employee commitment index Total HC investment Percent pay-performance related Training participation rates Employee satisfaction score Promotion rates Buy vs. build ratio Performance distribution (e.g., ratings, productivity, incentives, etc.) Percentiles– market pay Workforce velocity Hiring rates Total Training costs Median span of control Bonus participation rates Workforce demographics Turnover rates Percent quick quits Cost of turnover Workforce experience Employee commitment index Total HC investment Percent pay-performance related Training participation rates Employee satisfaction score Promotion rates Buy vs. build ratio Performance distribution (e.g., ratings, productivity, incentives, etc.) Percentiles– market pay Workforce velocity Hiring rates Total Training costs Median span of control Bonus participation rates
  44. 44. © MERCER 2017 44 CALL TO ACTION
  45. 45. © MERCER 2017 45 C A L L T O A C T I O N W H A T C A N Y O U D O ? EVPTOIVP • Focus on employee experience through personas to create individualized EVP • Allow for employee participation in program design changes (e.g., focus groups, surveys, design teams) • Approach the future of the employee experience based on ability to influence desired outcomes in terms of retention, engagement, productivity and results CAREERS • Continue leveraging the career development framework across all HR programs to drive compelling careers for RSM employees • Integrate the framework across all HR programs • Explore development opportunities for employees to build skills and knowledge PROCESSES • Make holistic decisions considering all HR programs, based on RSM best-fit versus best practices • Continue performance evolution (feedback, calibration, pay-for- performance) • Continue reward transparency • Explore other alternatives for engaging employees through communication
  46. 46. AGENDAQ & a Talent Takeaways Series Live Q&A
  47. 47. AGENDAAGENDA Resources & Support Talent Takeaways Series ✓ Resource Library ✓ Product Information ✓ Product Tour & Demo HRsoft.com

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