If there’s one thing that’s certain about the future it’s that nothing about the future is certain. That makes it hard to plan, does it not? Yet, to succeed in the new economy you must have a strategy—and soon. It’s urgent. So, what should you do?
Start with your employees. They will have a lot to do with whether your company’s future is successful or not. Consequently, the experience you provide must be envisioned in advance and delivered according to your plan. It must attract premier talent and ensure they will want to stay and perform. And it must enable your employees to easily buy into and support your vision for the future—so they will be as committed to the company’s success as you are.
So, what kind of experience will do that?
That is the issue we addressed in this broadcast.
How a Successful Employee Experience Will be Defined in the Future
1. How a Successful Employee Experience
Will Be Defined in the Future
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Today’s Presenter:
Ken Gibson
SeniorVice President
(949) 265-5703
kgibson@vladvisors.com
23201 Lake Center Drive, Suite 207 ⬧ Lake Forest, CA 92630 ⬧ 949-852-2288
www.VLadvisors.com ⬧ www.PhantomStock.com
3. How a Successful Employee Experience
Will Be Defined in the Future
4. 44
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5. 55
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7. 77
Since1996
VisionLink has been advising business leaders on how to create a
high-performance culture and turn employees into growth partners.
We have seen first-hand the solutions and strategies that work. In
this broadcast, we plan to share what we have learned with you.
9. 99
23201 Lake Center Drive, Suite 207
Lake Forest, CA 92630
(888) 703 0080
www.vladvisors.com
www.phantomstock.com
www.bonusright.com
Headquartered in Lake Forest, CA
Founded in 1996
Over 600 clients throughout North America
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Key Questions
How would you
describe the kind of
experience you want
your employees to
have at your
company?
Now, how would your
employees define the
kind of experience
they are actually
having?
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Why it Matters
Your employees control the kind of experience your customers will have with
your company
Your employees are your best source for attracting new talent
Your employees will determine whether your business will thrive or stall as you
head into the post-COVID future.
Your employees will choose whether to become growth partners or growth
inhibitors.
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Prior to COVID-19
2016 Key Prediction
By 2020, the worldwide
shortage of highly skilled,
college-educated workers
could reach 38 to 40 million, or
13% of demand.
(Source: McKinsey Global Institute)
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Then…
“A January 2018 survey of 1,000-plus C-suite executives found that
attracting and retaining talent is their number-one concern, outranking
anxiety over the threat of a global recession, trade war, and even
competitive disruption.” (Moneyball for Business, Fast Company, September 2018,
Austin Carr)
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Do You Really Need to Worry?
“Nearly 70% of business leaders participating in a new global survey said the
current talent pool is shrinking. As a result, the competition for talent has
increased, forcing employers to change their recruiting strategies.” (“Study: Shrinking
Talent Pool Has Recruiters shifting Strategies,” HR Dive, October 5, 2018, Valerie Bolden-Barrett)
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Evidence
How many of your key performers—people who are true catalysts
and strategic leaders—have you laid off since COVID-19?
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Why the Employee Experience Matters
In a talent market that has a shrinking
pool of skilled labor, where will employers
look for new talent? No one can afford to
passively wait until the right talent
appears. They have to proactively pursue
the people they need—and create an
environment that will draw them in.
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5 Keys to a Successful Employee
Experience
1. Have a Clear Mission
2. Know Your Talent
3. Offer a Total Rewards
Opportunity
4. Adopt a Wealth Multiplier
Philosophy
5. Treat Employees as
Growth Partners
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1. Have a Clear Mission
Simplicity
My Company
My Team
My Role
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Commander’s Intent
The Commander’s Intent is a simple, no-
nonsense statement that appears at the top
of every order, specifying the plan’s goal and
the desired outcome of an operation.
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Chartering Conversation
“A chartering conversation…is based on the
premise that genuine commitment is a choice.
Sharing information is still important, but the
focus shifts from “nice-to-know” updates to
providing critical context, so leaders and teams
can craft mutual agreements tied to a common
mission. As a concept, the process of negotiating
a charter prompts managers to be clearer about
what they are asking of their teams, and to listen
more actively to what their teams need from them
in order to deliver.”
(“How to Help Your Employees Own Your Strategy,”
Strategy+Business, February 6,2020, Elizabeth Doty)
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Signs of Employee Stewardship
Assume an ownership mindset in decision making
Take a strategic approach to their roles
Focus on outcomes and results
Protect shareholder interests
Expect to create additional value before receiving
additional compensation
Make sacrifices to help the company succeed
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What is Line of Sight?
The ability of employees to see the
relationship between:
Company Vision
Business Model & Strategy
Priorities
Roles & Expectations
Rewards
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How Do You Measure Line of Sight?
Have employees to answer five questions:
What is the company’s vision and
purpose?
What is the company’s business model
and business strategy?
What are our organization’s most
pressing priorities right now?
What is your role in our business model
priorities and what outcomes are you
responsible for?
How will you be rewarded for fulfilling
those outcomes?
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2. Know Your Talent
The starting point of defining
an employee experience
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Talent Assessment
Define skill “categories” needed to drive
business model
Identify gaps
Form recruiting & retention strategy
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Talent Alignment
Align People, Roles &
Business Model
Have top performers
working in roles that
maximize their unique
abilities
Avoid placement in roles
that don’t have a
strategic impact
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Recruit to a Role (Not a Position)
Position: characterized by specific duties you
need someone to carry out.
Role: defined by outcomes and stewardship.
Positions are filled. Roles are fulfilled.
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Accelerators
Experience with more than
one company
Desire to rise in ability,
recognition, contribution
and influence.
Many single but a growing
number are married and are
starting families
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Catalysts
Mid-30s
Meaningful experience
Unique abilities
Able to affect significant
(positive) change
Companies are competing
for their talents
Have leverage
Many married and have
children
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3. Offer a Total Rewards Opportunity
Compelling Future
PositiveWork
Environment
Opportunities for
Personal and
Professional Growth
Financial Rewards
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4 Reasons People Remain or Join a Company
Compelling Future
PositiveWork
Environment
Opportunities for
Personal and
Professional Growth
Financial Rewards
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Compelling Future
The company’s
purpose and
mine are
aligned.
I see myself in
the company’s
future.
I have a “seat at
the table” in
determining
the direction of
the company.
I like the
direction the
company is
headed.
I embrace the
company’s
values.
I believe the
company can
achieve its
growth goals.
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Positive Work Environment
I like the nature of the
work I’m doing.
I am working within my
unique ability.
My responsibilities have
strategic purpose.
I work in a team of
individuals with
complementary skills.
There are channels and
processes for solving
problems and decision
making.
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Personal and Professional Development
As a result of my immersion in
the culture and resources of
this organization, my unique
abilities will improve—and I will
experience personal and
professional fulfillment.
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Financial Rewards
I have some control over
how much I can earn if I
produce.
I feel a sense of
partnership with
ownership.
There is a philosophy
that guides pay decisions
and I relate to it.
There is a mechanism for
sharing value with those
who help produce it.
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Reason # 2 Career Measurement
The pay level and
programs in which an
employee participates
become a means of
measuring where that
person is in their career
and where they need to
go next.
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A Comparative Exercise
“Is my pay offering equal to or
better than my peers?” If not,
the employee will do one of
two things:
▪ 1) Determine has not yet
developed the skills
needed to attain the
career level of peers
▪ 2) Determine you do not
fully recognize what a
person of that talent and
ability should be paid at
this stage of professional
development.
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Reason # 3 Contribution Ambitions
Personal Vision
Most growth-oriented people
aspire to make certain
contributions in their personal
and professional lives.
The ability to achieve their
contribution goals is the source
of their motivation.
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Contribution Ambitions
Different for Every Individual
Causes and Charities
Children’s Education
Family Well-Being
Freedom to Build Something
Control Over Time &
Commitments
Vary by generation.
Vary by career stage.
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Reason # 6 Continuity & Fairness
Is there operational integrity between mission,
vision, strategy, roles, expectations, results and
rewards?
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Build Operational Integrity
“Employees have a positive experience
in the workplace when they observe
authenticity in the way company
owners and leaders deal with the
people employed by them and there is
operational integrity in all aspects of
the business. This creates a high trust,
high confidence culture where
individuals are not distracted by
concerns about their place in the
organization. Over time, that kind of
culture creates its own momentum
because the employees become the
enforcers of the organization's
performance standards, not just the
company leaders….
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Allies or Adversaries
“Sooner or later, your people will decide
either to become your allies or your
adversaries. They can help you achieve
your goals or they can sabotage them.
If they choose to do the latter, they will
probably leave, but not before doing
significant damage. And once they go,
they will share the negative experience
they had with your company with
anyone who will listen; some of whom
may be the very people you want to
recruit.“(3 Reasons You Must Pay Attention to Employee
Engagement, VisionLink blog, June 13, 2019)
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The Trust Dividend
Strategy x Execution=Results
(Strategy x Execution) x Trust=Results
(Source: The Speed of Trust, FranklinCovey, February 5, 2008,
Stephen M.R. Covey)
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Core Changes Shift from “Incentives” to “Value
Sharing”
Took away local measurements
driving management incentive
plans—all paid on same metrics
▪ “We live together and we die
together”
Aligned everyone behind
company success
▪ “I call it ‘pay the company first.’ ”
61
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Pay the Company First
“Basically, up to the company’s
operating profit target, all of
the profits go to the company;
and only after that target is
met, do we start funding the
incentive pool.”
Example: If UL’s target is
$80 million--
100% of first $80 in
profit goes to company
The next $20 million
goes to the incentive
pool
From there on, 50/50
between company &
incentive pool
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Pay the Company First
Once value creation is defined,
compensation can follow a formula
for sharing value in a way that aligns
key producers with the company’s
business plan and priorities.
63
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Replace Incentives with Value-Sharing
The premise should be to promote value
creation and value-sharing:
▪ “When you help us create value you
participate in that value”
▪ Define value creation around the
shareholders’ most important goals
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How to Focus on the Future
Here’s the short-term
picture
Here’s our vision for the
future.
Here’s how we plan to
get there.
Here’s the role we need
you to perform.
Here are the resources
you will be able to use.
Here’s our philosophy
about pay and rewards.
Here are the specific pay
programs you’ll
participate in.
Here’s how our pay
programs will work for
you if we achieve our
plan.
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Compensation Offering
To grow your business, you need a
high-performance culture.
To create a high-performance
culture, you need top talent.
To attract top talent, you need an
irresistible value proposition.
And to create an irresistible value
proposition you need a compelling
pay offer.
Your compensation offering defines the
financial partnership you wish to have
with your employees.
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5 Keys to a Successful Employee
Experience
1. Have a Clear Mission
2. Know Your Talent
3. Offer a Total Rewards
Opportunity
4. Adopt a Wealth Multiplier
Philosophy
5. Treat Employees as
Growth Partners
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Digital platform for
building short and
long-term value
sharing plans
Efficient plan design
process
Affordable plan design
cost
Effective plan launch
material
Superior ongoing plan
management
78. 7878
BonusRight Demo
Additional Special Offer for Webinar participants
Free Total Rewards Assessment
Select “YES” on survey—or contact Melissa at
msamaroo@vladvisors.com
79. 7979
Take advantage of a one-half hour
consulting call with a VisionLink
principal at no charge.
Indicate interest on final survey.
Request a copy of our slides
and complimentary
consultation.
We value your input.
Consultation Offer & Survey
86. 8686
Today’s Presenter:
Ken Gibson
SeniorVice President
(949) 265-5703
kgibson@vladvisors.com
23201 Lake Center Drive, Suite 207 ⬧ Lake Forest, CA 92630 ⬧ 949-852-2288
www.VLadvisors.com ⬧ www.PhantomStock.com
ThankYou!
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VisionLink’s Focus: Help Business Leaders Build and
Sustain a High Performance Culture
Accelerate performance through pay strategies that
transform employees into growth partners.
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If you do that…
• Quality of talent will improve.
• Employee engagement will expand.
• Performance will be magnified.
• Business growth will be accelerated.
• Shareholder value will increase.
92. 9292
Today’s Presenter:
Ken Gibson
SeniorVice President
(949) 265-5703
kgibson@vladvisors.com
23201 Lake Center Drive, Suite 207 ⬧ Lake Forest, CA 92630 ⬧ 949-852-2288
www.VLadvisors.com ⬧ www.PhantomStock.com
ThankYou!