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.
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. How do you know if
your employees are
engaged in the things
that matter most?
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.
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
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!
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
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. 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
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. 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. 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
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. 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. 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. COMPENSATION TOOLS – Compa-ratio
• Benchmark jobs against
compensation surveys
• Obtain data from multiple
sources
• Ensure data is relevant to
your marketplace (industry &
region)*
30. TOOLS TO EVALUATE PAY
any discrepancies?
PAY FOR PERFORMANCE
Merit Matrix
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. 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. 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