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Compensation and Benefits in a Challenging Business Climate. Anne Teggart – June 2013 European Compensation & Benefits Lead. Agenda. Introduction How can key personnel be motivated and engaged when reward expenditure cannot be increased?
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Compensation and Benefitsin a Challenging Business Climate Anne Teggart – June 2013European Compensation & Benefits Lead
Agenda • Introduction • How can key personnel be motivated and engaged when reward expenditure cannot be increased? • What is the key to communicating total reward in a tough economic climate? • How can reward vehicles other than pay be used to retain talent? • What are the latest trends regarding greater use of recognition, variable bonuses and incentives?
Who are Sapient? In Europe – 2 main Business Units: Sapient Nitro & Global Markets, supported by Global Shared Services Over 11,000 employees globally $1.1bn revenue globally
How can key personnel be motivated and engaged when reward expenditure cannot be increased?
How can employees be motivated and engaged? • Communication • Recognition • Learning and development opportunities • Social events – Frinks; Summer and Christmas parties
Communication - Emails • Compensation and Benefits banner from Internal Communications: • Banner is used for internal communications – ensures consistency and internal brand awareness • EU benefits mailbox for employees to contact the team. Connects with the whole EU C&B team so response time is quicker • Separate mailbox used for our compensation and performance reviews. ‘Performance and Rewards’ mailbox
When budgets are limited… • Pension salary sacrifice: win-win for both employee and the company • Bonus salary sacrifice • Pension provider switch with lower AMC • Pension communication sessions • Launch of benefits portal recap of all the benefits; benefits fair with providers and freebies • Launch of benefits booklet • Regular benefits presentations – reminder of what is on offer • Induction: “Sapient Start”. Introduction to reward package • Communication is key to bring rewards to life and remind employees what is available
Recognition • Peer to peer ‘Core Value Awards’ nominations • Founders Award / Rookie of the Year / GSS Great Work Award • Public acknowledgement • ‘Ring the Bell’ client wins • Anniversary recognitions • Performance round 360 degree feedback
Key to communicating total reward in a tough economic climate
Communication… again • Start from the beginning: • Ensure Hiring teams understand the total package • Why should someone work at Sapient? • How are we different? • Explain the journey • What we are… and what we aren’t • Explain career opportunities – mobility; varied projects • Hiring Teams: • Maintain internal parity with existing employee’s compensation recognising moves in the external market • Use of salary ranges
How can reward vehicles other than pay be used to retain talent?
Learning and Development Opportunities • Variety of mediums • Classroom based • Online self-learning encouraged • Webinars • Online Learning Centre • Emails with employee’s stories of how they manage their career; develop themselves • Women’s Leadership Network – open to all • Leadership sponsorship • Both men and women involved • Mentoring and coaching opportunities • Open communications forum for everyone to air their opinions • Local events
What are the latest trends regarding greater use of recognition, variable bonuses and incentives?
Use Tools Available • Smarter use of limited budget • Focus on top performers and high potentials • Communication (and repetition) of key messages are essential • Encourage feedback from all levels • Not all communications need to come from HR – and shouldn’t. Leadership and management ownership helps drive engagement for them and employees • Recognise people as close as possible to the act that is being recognised. Encourage public recognition through team and divisional meetings • Anniversary recognitions