Attraction of employees

Rahul sharma

H.R. and Remuneration Strategy for attraction Reward Online Payscales

Benchmarking And Surveys

Total Package & Audits

Role Profiles and Job Evaluation

S.T.I. L.T.I.
Talent & Career Management

Performance Management Workflow

Employee Value Proposition / Retention

Effective Individuals Great Organisations Sustain performance Engage employees Define themselves in the market Are focused and disciplined Are trustworthy Possess judgement Are proactive

Strategy & Policy

Attraction and Incentives Retention

Inspired Leaders Engender trust Clarify purpose Unleash talent

ttracting The Talent

The number of Engineers and Artisans that Eskom lost last year

The number of positions which cannot be filled from within the country because of the current skills shortage.

Shortfall of qualified medical practitioners worldwide

efinition and

ontext

WHAT IS Attraction ?

attraction

attraction is an uncontrollable response that just happens to what we are drawn to that even goes against what we prefer or thought we preferred.

quick view

urrent rends
Turnover increasing exponentially (as high as 23% in some industry sectors) attraction focus shifting from guaranteed remuneration and short term incentives to training and development, recognition and long term incentives

Performance linked remuneration becoming more popular/increase in formal performance management system.

An increasing number of organisations are offering Long Term Incentives to employees below middle management in an attempt to attract them A large number of organisations are paying premiums to various skill categories/job families. Ranges btw 7.5 40% (usually dependant on scarcity of skill) Remuneration more effective at attraction Top to Senior Management. Below senior mgmt, recognition and personal development are becoming increasingly important

Yet . . . . . . . Only 28% of organisations in a recent survey including some of the top organisations in SA have a formal attraction policy/ strategy in place, the majority of which have only implemented this since 2005

Guaranteed Package Lack of career development Relationship with immediate boss Work Life balance Flexibility

HE EFFECTIVENESS OF PAY IN ATTRACTING TALENT

The majority of organisations still use pay as their primary attract vehicle The number one reason in Exit Interviews for employees leaving organisations is for more money

1. 2. 3. 4. 5. 6. 7.

Informal reward and recognition Flexible benefits where appropriate Talent management strategies Sign-on bonuses/loans Work from home policies Succession planning and knowledge sharing policies Tailoring retention options to the employee profiles of the organisation (profile-fit reward models) 8. Above average voluntary benefits to create niche environment

ew

rends

ey success factors
1. Involve employees survey/focus groups 2. Communication, Communication, Communication 3. Holistic approach but focus on burning platforms and quick wins 4. Identification of Hot Skills needs to be signed off at executive level. Foolproof process 5. Create higher level of understanding w.r.t. value employees receive 6. Detailed Implementation Plan 7. Be seen to be doing something

Ho

should qualify?

Attraction and retention strategies often target specific roles within an organisation. This enables organisations to attract and retain key talent critical to organisational competency. Hot skill positions in the market Turnover staff attrition Hiring Cycle

Market Stance Hot skills treatment Restraint of trade payments Sign-on bonuses/Retention bonuses Sign-on loans Extended pension arrangements Flexibility Short-term incentives Long-term incentives Deferred compensation Rolling or banking of incentives earned

ttraction

ptions

lternatives to cash
Alternative (flexible) working arrangements Compressed work week Flexi-time Job sharing Part-time work Flexi-place Sabbatical Leave Voluntary benefits Psychological Contracts

sychological
From

ontract
To

THANK YOU

for this opportunity to be present with you

Rahul sharma