when people thrive, businesses thrive - mercer · month per employee spent worrying at work ....
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H E A L T H W E A L T H C A R E E R
W H E N P E O P L E T H R I V E , B U S I N E S S E S T H R I V E
C U R A T E A D I S T I N C T I V E E M P L O Y E E V A L U E P R O P O S I T I O N
DAVID WREFORD Partner, Career
JULIA HOWES Analytics Leader, UK and Europe
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T H R I V I N G I N A N A G E O F D I S R U P T I O N
T H R I V I N G W O R K F O R C E
Diverse and Adaptive
Inclusive and Growth Focused
Committed to Wellbeing: psychological, physical,
financial
T H R I V I N G O R G AN I S AT I O N
Success Redefined
Resilient and Agile
Positive Societal Impact
T H R I V I N G I N D I V I D U AL
Growing and Contributing
Empowered and Connected
Healthy and Energised
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4 S T E P S T O G E T T H E R E
B U I L D I N G A T H R I V I N G W O R K F O R C E
DATA-DRIVEN MINDSET
CULTIVATE
A LAB
MINDSET
VALUE PROPOSITION
CURATE
A COMPELLING
VALUE PROPOSITION
PEOPLE STRATEGY
CRAFT
A FUTURE-FOCUSED
PEOPLE STRATEGY
WORK ENVIRONMENT
CREATE
A THRIVING
WORK ENVIRONMENT
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S U RV I V E O R T H R I V E : C U R A T E A D I S T I N C T I V E
E M P L O Y E E V A L U E P R O P O S I T I O N
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E M P L O Y E E S W A N T T O B E T R E A T E D L I K E T H E O R G A N I S A T I O N ’ S B E S T C U S T O M E R
1 in 3 do not feel empowered in their careers
S T E E R I N G M Y C AR E E R
53% want more focus on health
and wellness
H E ALT H AN D W E L L N E S S
#1 way to positively impact
me at work
C O M P E N S AT I O N I S S T I L L K I N G
13 hours per month per employee
spent worrying at work
W O R RY I N G AB O U T M O N E Y
M AK I N G W O R K “ W O R K ”
56% want more flexible options and 77% would work on
contract basis
Source: Mercer 2017 Global Talent Trends Report
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T A K E A H O L I S T I C V I E W
Create staying power through a U N I Q U E proposition with purpose • Connect me to our company’s mission and vision • Provide me with meaningful and fulfilling work • Help me feel like I belong here
Provide a COMPETITIVE compensation and benefits offering
• Pay me fair and competitively • Reward my contributions • Provide programs to manage my health
and wealth
Create a DIFFERENTIATED experience • Support me with my career journey • Provide me with flexibility to “make work work” for me • Help me manage my physical, financial and emotional
well being
C O M P E N S A T I O N B E N E F I T S
C A R E E R S W E L L B E I N G
P U R P O S E
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T H E E V P M U S T B E …
Ab o ve a l l , t h e va l u e p r o p o s i t i on m u s t c o n n e c t w i th e m p l o ye e s a s i n d i v i du a l s
INSIGHT LED COST EFFECTIVE
AUTHENTIC AND
ENGAGING PERSONALISED AND FLEXIBLE
HOLISTIC AND INTEGRATED
H O W E V E R …
51% ARE NOT DEFINED
ONLY 25% OF ORGANISATIONS
HAVE MORE THAN ONE EVP
78% DON’T INFORM REWARD
PROGRAMMES
66% DON’T DEFINE A UNIQUE
PROPOSITION
50% DON’T REFLECT THE
EXPERIENCE OF WORKING IN AN ORGANISATION
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B E C A U S E E V E R Y O N E ’ S O N A U N I Q U E J O U R N E Y
22 YEARS OLD
28 YEARS OLD
33 YEARS OLD
38 YEARS OLD
45 YEARS OLD
50 YEARS OLD
55 YEARS OLD 591/2
YEARS OLD
62 YEARS OLD 65
YEARS OLD 701/2 YEARS OLD
Firsts… job, apartment, car
– benefits/ insurance
Pay off student debt
Get married Take on debt for graduate education Fitness/ wellness
Have children Take on a mortgage Health or
dependent health event/
illness
Pay for children’s education
Pay for dependent
care Possibly single
income
Career advancement/
possibly career
transitions College planning
Sabbatical?
Eligible to make catch-up contributions
Paying for college!
Midlife crisis! Trip of a lifetime
Eligible to make catch-up contributions
In-service withdrawals Penalty-free distributions Able to claim
public benefits Eligible for Medicare benefits
Minimum Required
Distributions
Millennials Generation X Boomers
Managing my expenses in retirement Basic, Leisure, Risks, Emergency, Legacy
A research driven approach to understand the specific needs and requirements of your unique population.
LIFE STAGES EXPLAIN MORE DIFFERENCES THAN GENERATION
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P E R S O N A S T O A D D R E S S U N I Q U E S E G M E N T S
• Mutuality is important, people are able to commit to differing degrees
• Increased commitment provides higher predictability and continuity
• The value of the deal should be proportional to the level of commitment
• The difference in the offer should encourage greater commitment.
Vocationers
Intermissioners
Willing misfits
Risky misfits Pr
edic
tabi
lity
of a
vaila
bilit
y…
Continuity of Mission….
Regulars
C A S E S T U D Y 1
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Anchored on a common
PURPOSE
“Saving the world’s most vulnerable people”
T A R G E T E D V A L U E P R O P O S I T I O N S
P U R P O S E
C O M P E N S A T I O N B E N E F I T S
P U R P O S E
C O M P E N S A T I O N B E N E F I T S
C A R E E R W E L L - B E I N G C A R E E R W E L L - B E I N G
INTERMISSIONERS VOCATIONERS
Remove barriers to volunteering
Maintain continuity with home
“You give” – Project culture
Life-threatening
“Sufficient” and slightly variable
Global standards – support continuous employment
“We invest” – Growing leaders
Balanced portfolio
C A S E S T U D Y 1
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C A S E S T U D Y 2
T Y P E O F W O R K
50
37 30 27
22 19 19 16 15 15 14 10 7
37 31
23 28
17 21
28
16 14 15
24
11 6
0
10
20
30
40
50
60
% S
EL
EC
TE
D
Most Attractive InitiallyMost Attractive Today
THINKING BACK TO WHEN YOU FIRST JOINED ONE, WHICH OF THE FOLLOWING ASPECTS OF YOUR EMPLOYMENT PACKAGE DID YOU FIND MOST ATTRACTIVE? WHICH ARE MOST ATTRACTIVE TODAY?
Type of work is cited most frequently as a factor of initial attraction and also comes out on top in terms
of what is most attractive to employees today
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C A S E S T U D Y 2
ATTRACTIVENESS INITIALLY
ATTRACTIVENESS TODAY
IMPORTANCE SATISFACTION
R a n k e d #4 o v e r a l l
R a n k e d #3 o v e r a l l
R a n k e d #2 f o r h o u r l y
78% s a t i s f i e d
28% 27%
W O R K S C H E D U L E
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C A S E S T U D Y 2
ATTRACTIVENESS INITIALLY
ATTRACTIVENESS TODAY
IMPORTANCE SATISFACTION
R a n k e d #3 o v e r a l l
R a n k e d #6 o v e r a l l
R a n k e d #1 o v e r a l l
49% s a t i s f i e d
23%
C O M P E N S A T I O N
31% G r e a t e r t u r n o v e r
l i k e l i h o o d
Those who receive a pay increase within a given year are more likely to leave
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S O C I A L M E D I A M A Y N O T B E Y O U R F R I E N D
CO. X WEBSI TE
What are you telling candidates?
GLASSDOOR
What are your employees experiencing?
learning world-class
valued dynamic
support variety rewarding
interesting challenging
good-pay low-morale turnover
micromanaged top-down security
inflexible good-hours Poor-leadership
local bureaucratic
unfriendly depressing
traditional
work-life balance out-of-touch
rewarding
interesting ageing
old unstable cold
disappointing
uncertainty
frustrating
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T H E O P P O R T U N I T I E S
R E T E N T I O N R E P U T A T I O N A N D B R A N D E N G A G E M E N T A T T R A C T I O N
Company reputation Solidify your reputation as an employer of choice
Decreased unwanted turnover Reduction in absenteeism and presentism
More engaged employees Employees connected with the your mission and the work they do each day Increased discretionary effort Personal relevance of the value proposition
Attracting top talent Higher volume and better quality of candidates Improved better quality of hire and decreased quick-quits
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IT STARTS WITH YOUR PEOPLE STRATEGY: RECORDING AVAILABLE
CURATE A DISTINCTIVE EMPLOYEE VALUE PROPOSITION: TODAY
CARE FOR PHYSICAL, MENTAL AND FINANCIAL WELLBEING: 14 FEB 2018
CRAFT ASPIRATIONAL AND MEANINGFUL CAREERS: 15 MAR 2018
CULTIVATE A LAB MINDSET WITH ANALYTICS AND INNOVATION: 25 APR 2018
DEVELOP INSPIRING, AGILE AND INCLUSIVE LEADERS: 24 JAN 2018
PEOPLE STRATEGY
VALUE PROPOSITION
WORK ENVIRONMENT
DATA-DRIVEN MINDSET
J O I N U S F O R T H E R E S T O F T H E S E R I E S
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W E A R E H E R E T O H E L P Y O U T H R I V E
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