HR Top Priorities In 2016:

Transcription

1 HR Top Priorities In 2016: Employees Engagement Rewards, Recognition & Benefits Packages Communication Driving Value and Outcomes in a Shifting Employee Landscape

2 Today Ways to more effectively engage employees with their employer in an era of changing employee expectations. Workforce Engagement and its impact on business results and health Drivers of Workforce Engagement and the Work Experience and practical methods to improve results

3 Workforce Engagement and its impact on business results

4 Higher Engagement Correlates with Higher Sales Sales Wholesaler and Logistics Company Results! Engagement had significant impact on individual sales performance Customer Satisfaction Retailer Results! Locations with higher engagement had higher customer satisfaction among store locations Profitability Wholesaler Results! Locations that increased engagement also increased sales and margin (and vice versa) Source: Aon Hewitt Engagement Study

5 The Aon Hewitt Engagement Model Engagement psychological state and behavioral outcomes that lead to better performance Source: Aon Hewitt 2015 Trends in Global Employee Engagement Report

6 Best Employers Study Bulgaria results Engagement Score Bulgaria 2015: 61% Engagement per industry Engagement Priorities Engagement per years of age

7 Share your experience Why employees engagement is important for your company? Do you measure it and how often? How you work with the results?

8 Employees benefits and communication and its impact on the business results

9 The Basics Driver Today s Expectations Most Desired Improvement Areas Source: Aon Hewitt Inside the Employee Mindset

10 CEE in the Old days CEE 'Nowadays'

11 We Have Changing to Do A New Majority Is Emerging Boomers working well past retirement age Millennial (Gen Y) majority Centennials (Gen Z) entering the scene Female majority 50% 1% 22% 20% 7% Traditionalists Baby Boomers Generation X Millennials Generation Z 1997 Source: Future of Workspace Survey

12 We Have Shifting to Do Values and Preferences Are Changing TRADITIONALISTS ( ) BOOMERS ( ) GEN X ( ) MILLENNIALS ( ) GEN Z (1997 ) VALUES Conformity Stability Security Personal and social expression Idealism Health and wellness Free agency and independence Street smarts Cynicism Collaboration Social activism Tolerance for diversity Resilience and grit Practical intelligence Personal privacy INCENTIVES Appreciation and recognition Individual rewards Rewards for results Team rewards Constant feedback Spot awards Personalized BENEFITS Embrace defined benefit retirement programs Make employment decisions based on benefits Self-reliance Flexible benefit options Creative benefits and time off More focused on salary than benefits Create my own package REWARDS Satisfaction of a job well done Money, title, recognition Freedom Meaningful work Divergent experiences BASE SALARY Loyalty to organization Internal competitiveness Hired guns/mercenaries Accessing opportunity Tailored to me PAY INCREASES Cost of living adjustments Seniority and internal equity Pay increases tied to performance Likely to share pay increase information Entire group likely to leave if perceives as unfair Keep pay increase information private

13 Satisfaction from benefits per years of age 90% 60% 30% 0% 43% 44% 51% 42% 51% 56% Up to 25 years years years years years 55+ years

14 Communication & Practices 66% of respondents are already investing in communication in Bulgaria. Print is the most used way to communicate for Bulgarian companies. Bulgaria EMEA Do you communicate? How?

15 Frequency & Goals In Bulgaria, when the communication is done several times a year the companies prefer the digital or face to face way. When the communication is done once a year the companies use the digital way. Bulgaria EMEA Frequency Main goal

16 Communication management Mirroring views expressed globally throughout EMEA, the largest part of Bulgarian companies don t use an external provider to communicate their Benefits package. Bulgaria EMEA

17 Impact In Bulgaria, satisfaction rates in lower than in the EMEA region. This is an objective assessment, very often based on surveys. Bulgaria EMEA How would you rate the understanding by employees of the Compensation and Benefits policy communication of your company? This rating is based on Use of personalized communication

18 Satisfaction from benefits Only 49% of employees fully agree with the statement I understand what is included in my benefits package

19 Future Channels Communications preferences regarding future channels range widely depending on each country. In Bulgaria, internal notices and face to face presentations are the preferred channels for the future. Which methods of communication are you planning to use in the future? Bulgaria EMEA

20 Share your experience Why employees benefits are important? How do you structure the benefits package? How often you communicate it?

21 Thank you!