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Enriching the Employee Experience

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Enriching the Employee Experience

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Issues with employee engagement and productivity continue to grow. The power has shifted from employer to employee as employees now have the choice to be very selective about their employer. Top talent knows they can leave mediocre organizations for thriving environments. Understanding and enhancing your internal talent is critical for companies to drive results that will positively impact and contribute to your bottom line. Implementing strategies that support an engaging employee experience will help your company be successful in attracting and retaining that top talent.

Issues with employee engagement and productivity continue to grow. The power has shifted from employer to employee as employees now have the choice to be very selective about their employer. Top talent knows they can leave mediocre organizations for thriving environments. Understanding and enhancing your internal talent is critical for companies to drive results that will positively impact and contribute to your bottom line. Implementing strategies that support an engaging employee experience will help your company be successful in attracting and retaining that top talent.

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Enriching the Employee Experience

  1. 1. ENRICHING THE EMPLOYEE EXPERIENCE – engagement, goals, talent & beyond
  2. 2. Isaac Mallory Jennifer Dickey Director at HR Performance Solutions HR Consultant Interested in a copy of this presentation? Contact us today at hello@hrperformamcesolutions.net
  3. 3. How do you know if your employees are engaged in the things that matter most?
  4. 4. Gallup’s “real unemployment” metric, which takes into account those who are unemployed, underemployed or who have stopped seeking employment sits at 7.9%; down from 17.1% over the same period. They have choices! 35% of employees are so unsatisfied with their salary that will leave to get a pay increase. In a study of over 1000 workers, 31% reported having quit a job within their 1st 6 months.
  5. 5. Engaging Top Performers Identifying Top Performers Developing Top Performers
  6. 6. GOALS – developing top performers
  7. 7. WHY GOALS - • Only 50% of employees know what is expected of them at work – Gallup • Provide direction, set expectations and measure success! • When used to drive an effective performance management strategy, you’ll see higher performance and engagement levels GOALS COMPENSATIONPERFORMANCE
  8. 8. GOAL ASSIGNMENTS
  9. 9. Build & Maintain Strong Employee Relationships - • Lead and coach employees to success • Align employee goals to business outcomes
  10. 10. GOAL ALIGNMENT
  11. 11. One size fits all annual engagement recommendations don’t work for today’s organizations. GOALS & ENGAGEMENT • Correlations between goals and employee engagement • Link goals to other critical indicators such as performance ratings, resignations, or promotions • Frequent pulses combined with instantaneous analytics There is a huge gap between engagement data and workforce outcomes. Time for the annual survey!
  12. 12. GOALS & ENGAGEMENT
  13. 13. Increase in Performance & Employee Resilience Decrease in Motivation & Engagement HONEST & CANDID FEEDBACK
  14. 14. ESTABLISH A GOAL STRATEGY When I give feedback, I’m signaling to people that I’m interested in their growth and that I see a path for their future. - Larry Bossidy Know how many employees have goals1 2 Correlate the goals with your strategies 3 Put processes in place to ensure accountability
  15. 15. TOP PERFORMERS
  16. 16. QUICK PITSTOP Footage of a pitstop right from pit row 10 yards from the vehicle. Shot at Charlotte Motor Speedway during the Bank of America 500. TIRES GAS
  17. 17. Justo Thomas Le Bernadrin Serena Williams Tennis Player Nascar Pit Crew Kyle Bush • 1000 lbs. a day • 3 people to replace him • Only man or woman to win 6 singles titles in GS tournaments • 73 maneuvers in 12.12 seconds! • Replace 1 member, the time doubles
  18. 18. WHY CARE? Top performers outpace the average performer by ….. 4 : 1
  19. 19. Data Case Study: Hiring a Top Sales Person A look inside a large financial institution… Top Colleges Top of The Class Impeccabl e Reference s Typo-Free Resume College Degree Home or Auto Sales Experience $4,000,000 additional revenue in 6 months Let’s Hire This Or This?
  20. 20. FIND YOUR TOP TALENT 1st 2nd 3rd 4th Align your talent strategy to your business strategy Differentiate roles by type: 1. Mission-critical 2. Core (sales and marketing) 3. Foundation (accounting and HR) Identify your Top Performers! • Use data, performance management systems and assessments • Get manager buy-in • Let them know Develop plans for continued and future performers • Review assigned goals and performance metrics • Comp align with performance? Is it competitive? USE DATA TO BUILD YOUR MODELS • Identify your top performers & analyze the characteristics and practices that contribute to that performance • Build models that will help you recruit and build more of those performers within your organization
  21. 21. TOP PERFORMER PROFILE EXAMPLE Takeaway - • Customize this as you see fit and as you have data points set up within your performance management system. • Identify areas that may be a red flag as you review your data
  22. 22. Top Performer s Strategy USE DATA Step 01 Find Your Top Talent Step 02 Recognize Your Top Talent Step 03 Create a Guidepost for Top Talent
  23. 23. COMPENSATION
  24. 24. GRAVITY – “$70,000 FOR ALL” 3 years ago, CEO Dan Price set a $70K minimum wage for his employees. WHY? INNOVATIVE PAY PRACTICES
  25. 25. 02 Long Commute 01Non- Competitive Salary 03 Uninteresting Work 04 No Opportunities for Growth 05 Poor Management Relationship • According to the 2017 Ceridian Pulse of Talent Report, the #1 reason high performers quit their job is because they feel their salary is not competitive. • Find out why your top performers are leaving…dig a little deeper. SHOW ME THE MONEY $$
  26. 26. UNDERSTANDING YOUR PAY – start thinking about the basics What is Your Organization’s Culture, Business Strategy, and HR Strategy? What Do You Want to Reward? What is Your Talent Landscape? Balance What You Can Afford to Do Against What You’re Willing to Do. Gain Executive Buy-In.
  27. 27. The #1 reason employees stay in a position is because their pay is competitive. CompensationStrategy Retention Pay for Performance Culture Hot/Competitive Jobs Market Be Intentional With Your $$’s
  28. 28. COMPENSATION TOOLS – got data? • Benchmark jobs against compensation surveys • Obtain data from multiple sources • Ensure data is relevant to your marketplace (industry & region) • Which market data source works for you?
  29. 29. COMPENSATION TOOLS – Compa-ratio • Benchmark jobs against compensation surveys • Obtain data from multiple sources • Ensure data is relevant to your marketplace (industry & region)*
  30. 30. TOOLS TO EVALUATE PAY any discrepancies? PAY FOR PERFORMANCE Merit Matrix
  31. 31. Step 03 Identify the Right Tools & Partners to Effectively Drive Your Strategy Step 02 Create Your Compensation Strategy Step 01 Why Are Your Top Performers Leaving? COMPENSATION STRATEGY Take a deeper dive into why they really are leaving. What tools support your strategy, what tools will drive it, a spreadsheet or technology? Know the role you want pay to play in your organization. Price is what you pay. Value is what you get. - Warren Buffet
  32. 32. Isaac Mallory Jennifer Dickey Director at HR Performance Solutions HR Consultant  Interested in a copy of this presentation?  Want to find out if your pay is competitive?  Ready to develop pay strategies to retain top talent? Contact us today at hello@hrperformamcesolutions.net
  33. 33.  Identify good tools that will allow you to easily track goal assignment and achievement  Ensure goals/performance assignments align with business strategy  Coach to accountability to ensure success ENRICHING THE EMPLOYEE EXPERIENCE Develop Top Performers Identify Top Performers  Use your data to find your top talent  Recognize your top talent and communicate what puts them in this category  Create a guidepost for your top talent to map out their career strategy  Identify if your pay is competitive  Create a compensation strategy  Identify the right tools and partners to effectively drive your compensation strategy Engaging Top Performers

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