everything you do in compensation is communication
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Everything You Do in Compensation is Communications
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Speakers: Ann Bares Managing Partner Altura Consulting Group, LLC Margaret O’Hanlon Founder and Principal re:Think Consulting Dan Walter President and CEO Performensation
Everything You Do in Compensation is Communications
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Ladan Nikravan Senior Editor Workforce magazine
Everything You Do in Compensation is Communications
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Ann Bares Managing Partner Altura Consulting Group, LLC
Everything You Do in Compensation is Communications
Margaret O’Hanlon Founder and Principal re:Think Consulting
Dan Walter President and CEO Performensation
Workforce WEBINARS September 10, 2014
Everything You Do in
Compensation Is Communication
Today’s presenters
Ann Bares, Managing Partner Altura Consul<ng Group LLC Employee Compensa<on Solu<ons
Margaret O’Hanlon, Founder and Principal re:Think Consul<ng Total Rewards Communica<ons and Change Management
Dan Walter, President and CEO Performensa<on High Performance Compensa<on
© All rights reserved Everything We Do Is Communica6on
live from
© All rights reserved Everything You Do Is Communica6on
Why do we always feel. . .
° Frustrated? ° Misunderstood? ° Overworked but underachieving? (Add a few more adjectives of your own . . .)
With the outcomes of our compensation communication efforts???
© All rights reserved Everything You Do Is Communica6on
Amanda Pricing
« Compensation « «Professional « «
Often experiences this kind of frustration . . . Design, implement and manage was her mantra
Until she realized . . . HR is always exchanging information with employees
and executives whether we want to or not
Everything you do communicates,
so, why not do everything better?
Ü When we talk, when we don’t talk Ü When we explain, when we don’t Ü When we meet, when we don’t
Just like we scrutinize candidates
© All rights reserved Everything We Do Is Communica6on
ü Increased her influence
ü Gave her work more impact
Understanding that everything in compensation is communication
ü Earned her a promotion
Made a big difference for Amanda
We’ll show you
1. Facts How to do everything in compensation better
2. Reality How to do end-of-year implementation better
3. Imagination What happened when Amanda dreamt big
How it can make a big difference for you
FACT: We do everything better When we treat compensation as communication
© All rights reserved Everything You Do Is Communica6on
OK, but what should I do differently?
© All rights reserved Everything You Do Is Communica6on
Today’s topics
1. Facts How to do everything in compensation better
2. Reality How to do end-of-year implementation better
3. Imagination What happened when Amanda dreamt big
Let’s start at the beginning
Ü
Identify problems and describe solutions
n Plan to influence behavior
n Go beyond surface symptoms to achieve deeper understanding
n Unplug from your desk and talk with employees, managers and execs
n Identify the biggest potential obstacles to plan success
1
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Star% here!!!
Identify problems and describe solutions 1
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Be courageous!
Dial up the power of
your compensation plan by recognizing and
taking control of the story it tells!
Preliminary design
1. Understand plan design is communication
2. Be clear about what the design asks of managers and employees
3. Build trust with managers – be candid about how much they can and will do
4. Start talking about implementation NOW, in step 2
(No, we’re not kidding)
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2
Preliminary design
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Tell the truth!
Accept that plan success DEMANDS CHANGE
from the people in your company
2
So, don’t kid yourself . . . Your managers can either make or break your plan
Acting as if
information is
the same as change
Test design
Start to 1. Project changes into the
future to understand how to make them happen
2. Beta test your ideas and materials
3. Understand managers ideas and feelings
3
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Finalize design and documentation
5 ways to do it better
1. Itemize ineffective things managers and employees should stop doing under new plan
2. Make another list of what they should start doing 3. Analyze the gap between start and stop 4. Invite communicators to take a look 5. Write the #&!%* plan document and
administration guide
4
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Turn design into implementation plan 5
Everything You Do Is Communica6on © All rights reserved
5 ways to do it better
1. Give yourself enough time to get a good plan together
2. Connect with communicators 3. Make managers your priority 4. Don’t get in the way of managers doing their work
5. Manage your expectations and your leadership’s
It’s time to add a reality check
1. Facts How to do everything in compensation better
2. Reality Tips for end-of-year implementation
3. Imagination What happened when Amanda dreamt big
Ü
Ü
Plan design finished? What’s next?
1. What are you asking your managers to do this year?
2. Is it a (big) change?
3. What’s got you worried?
Executives and managers implement
Real change demands follow through but
WE DON’T DO IT
We rollout on an effective date
and then we move on
Everything You Do Is Communica6on
6
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Here’s where we oOen fall short . . .
Executives and managers implement
5 ways to do it better
1. Plan behavioral milestones for execs and managers
2. Conduct research throughout the year 3. Notice problems that pop up later in the year 4. Provide communications and coaching based on
your research 5. Invest in manager training that delivers results
© All rights reserved Everything You Do Is Communica6on
6
Executives and managers implement
How to create behavioral milestones 1. Identify the check-in points through year to
measure implementation success to know § Do they get it? § Obstacles cropping up?
2. Add measures of success
6
Everything You Do Is Communica6on © All rights reserved
Example 90% of managers will review quarterly business reports with employees and discuss adjustments to objectives
Executives and managers implement
þ Track progress through interviews and focus groups
þ Determine if they are developing habits that support the new plan
þ Acknowledge what you overlooked in implementation planning and get it fixed
þ Invest in coaching and training
6
Everything You Do Is Communica6on © All rights reserved
Assess and address problems AS THEY OCCUR
Executives and managers implement
Anything else about your implementation plan that you’d like to talk over
before we move on?
6
Everything You Do Is Communica6on © All rights reserved
Measure program results 7
Everything You Do Is Communica6on © All rights reserved
4 ways to do it better
1. Compensation is a living thing – welcome change and consider it healthy
2. Measure results as often as data is available 3. Adjust if you see problems on the horizon 4. Don’t skip data you don’t understand
Adapt design and implementation plan to upcoming year
Your assignments for 2015
Create a feedback loop between business planning activities and the comp plan updating process
Work on 2015 compensation and communication plans as soon as you see holes in 2014’s plans
8
© All rights reserved Everything We Do Is Communica6on
What happened when Amanda dreamt big!
1. Facts How to do everything in compensation better
2. Reality How to do end-of-year implementation better
3. Imagination
Ü
© All rights reserved Everything We Do Is Communica6on
Amanda Pricing
« Compensation « « Professional « «
longs to have more
influence and do work
that has important strategic impact
Once upon a time . . .
But . . .
Pizza, Beer and a bed
White business Office
IMPACT
Step 5: Turn the compensation design into an implementation plan
Welcome to Step 6: Executives and Managers Implement
Time to communicate!
Step 7:
Measure Program Results
For Amanda
It’s not just a dream Everything we do in compensation is communication and we can do everything better . . .
www.EverythingIsCommunication.com
ü Tips ü How tos ü DIY ü Case studies
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Dan Walter. President and CEO. [email protected] 415 625 3406
Contact us for everything you do!
Ann Bares. Managing Partner. [email protected] 763 745 9425
Margaret O’Hanlon, CCP. Founder and Principal. [email protected] 415 457 3774
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Compensation & career path design.
Communication & implementation.
Training. Writing. Research.
Reward problem definition.
Broad-‐based compensation strategy and plan design.
Sales incentives.
Equity Compensation Design.
LTI / Performance Compensation.
Startups. IPOs. Fortune 1000.
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