Rewarding performance, growth & transformation31 mar-15

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[email protected] PERFORMANCE, GROWTH & TRANSFORMATIONInvestment that most organisations know the leastOne size does not fit all Modeling allows you to forecast impact

(After a lengthy or flattering introduction) After that introduction, I just can't wait to hear what I'm going to say.

After such a warm, generous introduction, I can only say thank you and I think you must have gotten the wrong guy.

(When addressing a small crowd or low attendance) This must be a wealthy crowd. Each of you bought two or three seats!

I won't speak for long on account of my throat. (clears throat) At my last engagement I talked too long, and someone threatened to cut it.

I'll try not to talk too long. They say its best to leave your audience before your audience leaves you.

I hope my speech will keep you on the edge of your seats. Hopefully that will be because you're interested, not because you're trying to get up the nerve to leave.

I don't have a solution, but I do admire the problem.

Take my advice I'm not using it.

You have the capacity to learn from your mistakes, and you will learn a lot today.

Ever stop to think, and forget to start again?

Treat each day as your last; one day you will be [email protected]

Largest Expense That Organisations Understand The Least2

36% of revenueAs a result, even modest gains in the efficacy of HR management can deliver sizeable gains to the bottom line.

Starting point: how big a chunk of the total pie is taken up by our human capital AND what return are we getting from that capital?

As you can see here, avg HR expenditure for employee is on the rise.

In fact, people costs represent nearly 60% of GDP in the United States.

If organisations scrutinize return on other investments, why not do the same for their human [email protected]

69% of employees would work harder if they were better recognized.The bottom line: The impact of employee engagement on company performance 3Employee recognition is the number one factor when motivating employees in the workplace.No.1

The deepest human need is the need to be appreciated William James, American philosopher and psychologist (1842 1910)

People will improve the things theyre recognized for so they can earn even more [email protected]

One size does not fit all 4Stop copying

Look inside82%of employees find it annoying when they are not recognizedfor the accomplishmentsthey contribute to the team and company.

Leverage the data youve been collecting

Measure the ROI on your various workforce practices

Differentiate between high-yield tactics . . . and marginal investments

Match human capital strategy to your business model

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49% of employees would leave their job for a company that recognizes its employees.

Insist on systems thinking 5

[email protected] unwittingly drove people with key institutional knowledge out the door.

1172125190312116Hires174912318422786ExitsPromotions

751766404963Level 81685830Career level

3383Lateral moves

234453411868138

1681

85134129An organisations current workforce is the result of 3 labour flows6The power lies in understanding the specific practices, tactics, policies, etc., that are the source of those talent flows

Success in the New Work Environment requires Enterprise Contributors.

And most employees are willing to perform collaboratively as Enterprise Contributors, meaning investing in incentives or other means of motivation is a wasted effort.

So why do so few employees qualify as Enterprise Contributors? Three in foursay the organisationneeds to make it easier for them to meet this new performance expectation.

Four paradoxes are at play:Co-workers are asked to help each other, but they also compete for raises and promotions.Employees need autonomy, but they also require direction in prioritizing their activities.While collaboration tools can improve quality, they can slow execution.Employees value contributing, but being rewarded for it actually reduces their motivation.

Simplifying the workplace is not an option; complex work environments are a reality. The best companies don't simplify this environment, but enable employees to navigate it and perform as Enterprise Contributors. Doing so helps them realize 11% higher YoY profit growth and 5% higher YoY revenue [email protected]

Did you know employees want some form ofrecognition every 7 days?Modeling, can reveal what talent youre building(and losing) over time 7

High performance ratingsUnit revenue growthAmount of trainingHighly-rated managerRecent promotionOccupationNumber of jobs held within firmTenureUnit sizeManagers span of controlEducationTechnical expertiseOutside experience

Pay growthHighLow

Promotion likelihood LowerHigher

The flows can be segmented bybusiness unit,job family, demographics, and . . [email protected]

This same type of analysis forms the basis for workforce forecasting . . .8

losses

gains

20132014Level 1 2 3 4 5 6 7 8 910

563

975

1,659

1,171

1,876

2,601

2,774801686312

477

658

945

1,420

1,541

2,369

3,273944

1,935

1,491Yet only 12% of employees say they often receive appreciation for great work.

The number of employees for 2014 are the expected numbers given the current workforce and existing hiring, promotion, retention and transfer practices.

Compensation is still important, but these days employees are looking for [email protected]

. . . and analyzing the equity of rewards and the resulting impact on workforce initiatives such as diversity9The workforce is changing. By 2020, 1/2 our workforce will be millennials.

10986547

51%49%

43%57%

33%67%

0%100%

66%34%

72%

55%45%12%

25

2Level49%41%48%52%0%100%34%66%

54%46%60%40%

0%9%

95

18

4%3%

273

114

8%9%

349

306

5%12%

331

886

12%14%

221

1,788

16%15%

244

1,382

New Hires% of Total

Female

MaleAverage active employeesTotal Exits% of Total

Promotions% of Available28%51%59%

In this company, women face a glass ceiling at level 6

Not surprisingly, turnover rates are significantly higher

Incentives help engage employees and organisations.

With higher than average engaged employees, companies saw 27% higher profits.

Ideas to recognize employees without spending a penny!

Send a personal note that specifies exactly what the employee did

Say a sincere thank you

Recognize a job well done in a meeting or applaud

Send a shout-out around in your companys private social site

Mention their success story in a speech or presentation or even newsletter

Give a long lunch or extra break or free pass day

Arrange for higher manager to stop by and say thanks

Offer to swap a task with them

Flex hours or let them work from home

Create a Wall of Fame or special award where you recognize [email protected]

30% want opportunity to grow in the company28% just want praise24% want a reward (money or gift cards)10% say no reward is needed (They now need you to tell them theyre doing a good job)Types of recognition people really want10

Always remember you're unique, just like everyone else.

Confession is good for the soul, but bad for your career.

Every organisation is perfectly designed to get the results they are getting.

Seen it all, done it all, can't remember most of it.

A clear conscience is usually the sign of a bad memory. My conscience is clean I have never used it.

To steal ideas from one person is plagiarism; to steal from many is research.

When everything's coming your way, you're in the wrong lane and going the wrong way.

If at first you don't succeed, redefine success.

If at first you don't succeed, destroy all evidence that you tried.

I hope you enjoyed my speech and if you did not, I hope you had a good [email protected]

Rewarding performance, growth & transformation31 mar-15

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