Bay of Plenty Business News November/December 2017

More documents

Recommendations

Info

18 BAY OF PLENTY BUSINESS NEWS November/December 2017 ... HR, MANAGEMENT AND RECRUITMENT The impact of reward and recognition on the employee experience RemNet (www.remnet.org.nz) is a not-for-profit organisation providing remuneration and human resources (HR) specialists throughout New Zealand with an effective tool to connect, network and share knowledge and information. By NIGEL MURPHY consultant, Strategic Pay The organisation is run by a voluntary committee of industry representatives and Strategic Pay is proud to support the committee as executive managers. At their recent annual conference, attendees delved into the theme “Crossing the chasm: Embracing tomorrow’s rewards today.” One speaker, Samantha Gadd of Humankind, captured many of the messages running through the conference with her talk on the impact of reward and recognition on the modern employee experience. Samantha explained that employee experience is a top HR trend globally that borrows from customer experience. Customer experience is the product of the interaction between an organisation and a customer over the duration of their relationship. The goal is to optimise the interactions from the customer’s perspective to foster customer loyalty. Employee experience is similar. It is the product of the interaction between an organisation and an employee over the duration of their relationship. The goal is optimising the interactions from the employee’s perspective to foster employee engagement. Samantha Gadd said it was little wonder that organisations that lead the way in customer experience were also some of those leading the way in employee experience. The whole organisation thinking that comes together to deliver a great customer experience is the same competency that underpins a great employee experience. Employee experience is a great lens for considering pay. Pay is as important to employees as price is to customers. However, a multitude of other factors shape employee engagement and customer loyalty. Pay needs to be considered in the wider context of reward and recognition to better understand and influence the employee experience. This means considering intrinsic rewards (such as work content and purpose) and extrinsic rewards (such as pay and monetary and non-monetary benefits and recognition). At Strategic Pay we assist organisations to develop reward and recognition propositions that consider employee experience to attract, retain and engage top talent. Hit the ground running in 2018 by upskilling your staff HUMAN RESOURCES > BY KELLIE HAMLETT Director, Recruitment & HR Specialist, Talent ID Recruitment Ltd Your employees are your organisation’s greatest asset, so it makes good sense to nurture, mould and develop that talent to meet your needs, both for now and in the future. Strategically, identifying talent early, along with having a development plan for these individuals, ultimately adds value to the bottom line. This has been evidenced through the obvious increase in employee engagement, decreased staff turnover and lower recruitment costs. It can also often result in direct financial improvements, with an increase in turnover and profitability due to employees being more effective in their day-to-day job. Investing in the development of your team has a twofold benefit – not only are you engaging your staff more deeply, but you are investing in your company and ensuring it gains up-to-date knowledge and ideas, and is in tune with the fast-changing competitive environment within your industry. A short-term investment, used in the right way, provides long-term benefits. Training and development can be a useful tool to identify employees that are working beneath their capacity. People can always perform better, more efficiently and effectively. Individual underperformance has a knock-on effect that should not be under-estimated - it has a direct correlation to team dissatisfaction inherently affecting the overall business goals. It can also affect the quality of service, professionalism and the overall production of the company. That means underperformance can come at a huge cost to the company. Identification of development needs is the first step. However, implementing and managing effective change is the second, and ordinarily the hardest. Sending your employees away on training courses is easily done, but following up on what was learnt is the challenge and where the value is gained. Review what has been learnt and help encourage its implementation in their job role, and perhaps even for the team and/or organisation. Sending your employees away on training courses is easily done, but following up on what was learnt is the challenge and where the value is gained. Ensure that you have organised monthly follow up meetings to manage the change, so you know they are still on the right track. And make sure you have an effective individual performance plan in place, which also aligns with the individual’s personal and career goals, and also their outlined KPIs Training and development is not always linked to an increase in remuneration. While it is often a motivating factor, it is not the only motivation people seek – recognition of a job well done and positive feedback is often more of a motivational factor than money alone. It’s also a great confidence builder. And remember that throughout the process you should continue to give your employees feedback and guidance, to ensure that they are developing positively, in line with the businesses strategic goals. Having effective training and development in place aids in ensuring a profitable organisation through employee satisfaction, employee intelligence and many other quantifiable measures. The long-term benefits are huge. For example, identifying talent early can be a strategic advantage in your planning to fill more technical, hard to source roles. And remember that training does not need to be expensive or outsourced - it can be done inhouse using the capacity you have within your team. Both individual, one-onone training, and teamwork exercises can both work really well if they are aligned to your required outcomes. Cool Job • Hot Location For employment solutions across the Bay of Plenty, partner with Talent ID Temporary & Contract Staff Permanent Recruitment Solutions Skill & Psychometric Assessments Redundancy & Outplacement Interview Coaching Human Resource Consulting • Tauranga • Rotorua • Taupo • 0800 850 080 J7083A
... HR, MANAGEMENT AND RECRUITMENT BAY OF PLENTY BUSINESS NEWS November/December 2017 19 Performance + Rewards = Success Create Success by Rewarding Performance At Strategic Pay we understand local businesses and your unique issues. Talk to us about: • Organisational Structure and Design • Remuneration and Reward • Performance Management www.strategicpay.co.nz | info@strategicpay.co.nz Auckland 09 303 4045 Hamilton 07 834 6580 Wellington 04 473 2313 Christchurch03 353 0909 Dunedin 03 479 0637 Everest Training all about people TM Comprehensive Training Programmes coming to the Bay in 2018. How can we train your people today? Tani Hansen Human Resource Specialist Bay of Plenty Since 2006 we have specialised in people, employment, culture and change. Visit us at events.everestpeople.co.nz/events for a full list of public workshops available (Tauranga and Hamilton locations). Limited spaces are available. Book today to avoid disappointment! Contact your local Human Resource Specialist: Tani Hansen 027 701 9592 tani@everestpeople.co.nz
Page 1 and 2: Bay of plenty NOVEMBER/DECEMBER 201
Page 3 and 4: Free tickets to Bryan Adams at ASB
Page 5 and 6: BAY OF PLENTY BUSINESS NEWS Novembe
Page 13 and 14: DELOITTES FAST 50 BAY OF PLENTY BUS
Page 15 and 16: “We are really proud to be named
Page 17: iding opportunities for young, ntre
Page 23 and 24: WESTPAC TAURANGA BUSINESS AWARDS BA
Page 25 and 26: WESTPAC TAURANGA BUSINESS AWARDS BA
Page 27 and 28: WESTPAC TAURANGA BUSINESS AWARDS BO
Page 30 and 31: 30 Bay of plenty First on the scene
Page 32: ThinkTank Media

Bay of Plenty Business News November/December 2017

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?