Transcript
THE FUTURE OF REWARDPETER NEWHOUSEGLOBAL HEAD OF REWARDUNILEVER
NEW ERA OF HR
OUTLINE OF THE SESSION
TheVision Three Big
Drivers for Change
How Reward is Evolving
Foundations
for a newReward
Proposition
How RewardWorks
New Directions
1 23 4 5
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How technology and the new generation are shaping THE FUTURE OF REWARD
Pay custom tailored to fit Lots of flexibility Easy to deliver Easy to change
THE VISION
3 BIG DRIVERS FOR CHANGE
CHANGE
PEOPLE DRIVERS
HOW WE WANT THINGS TO BE
Closed Open Inequitable Fair Erratic Consistent
Incoherent Explainable Rigid Flexible Hierarchical Flat
Zeitgeist
ORGANISATIONAL DRIVERS
Focus Standardisation Simplification Fewer resources
3 BIG DRIVERS FOR UNILEVER
1. Purpose driven business model
2. The Extended Organisation
3. Employee Centred
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HOW REWARD IS EVOLVING
Centralised
Independent
De-centralised
Interdependent
Hopelessly Local
Mindlessly Global Multi-Local
Ad-Hoc andInconsistent
One SizeFits All Segmented
TECHNOLOGY
ENABLER ENABLERCONSTRAINT
Consistency Data Automation
Segmentation Personalisation
THE OPPORTUNITY
Technology with Humanity aligned to Purpose
LAYING THE FOUNDATIONS
New Principles New Data & New Technology New ways to look at Reward
OLD PRINCIPLES
Attract Retain Motivate
Pay More! Pay More!! Pay
More!!!
With only Pay - how do you ….?
ToughPlace to
WorkATTRACT
GoodPlace to
Work
Lonely Place to
Work
RETAIN
MOTIVATE
THE REWARD PROPOSITIONFI
XED
PAY
VARIABLE PAY
InterestingPlace to
Work?VocationalPURPOSE
The wayyou pay
will AttractRetain &Motivatedifferentkinds ofpeople
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Systems &ProcessesReward
BehaviourValues
Culture
HOW REWARD WORKS
Individual
Collective
Insi
de
Outside
NEW DATA & NEW TECHNOLOGY
1. Reward Profile – analytics
2. ‘Rate-my-Reward’ – feedback
3. Market Data – positioning
4. Pay Philosophy – authenticity
5. Employee Engagement
6. Business Results
NEW WAYS TO LOOK AT PAY
NOW SOON LATER AFTER
SALARY
BENEFITS
BONUS
SHARES
PENSION
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NEW STRUCTURES
Time
Leve
l
Cumulative ValueOver time
Trajectory – pay the person not the role
Reward Structure
NEW DIRECTIONS FOR REWARD
More benefits, less variable pay Reward as long term cash flows Lifestyle alignment “Advances” Giving people what they value
Pay custom tailored to fit Lots of flexibility Easy to deliver Easy to change
THE FUTURE OF REWARD
THE VISION OF WHERE WE WANT TO BE
DISCUSSION
THE FUTUREOF REWARD
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