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Waikato Business News November/December 2017

Waikato Business News has for a quarter of a century been the voice of the region’s business community, a business community with a very real commitment to innovation and an ethos of co-operation.

Waikato Business News has for a quarter of a century been the voice of the region’s business community, a business community with a very real commitment to innovation and an ethos of co-operation.

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56 WAIKATO BUSINESS NEWS <strong>November</strong>/<strong>December</strong> <strong>2017</strong><br />

HR MANAGEMENT AND RECRUITMENT<br />

HR MANAGEMENT<br />

AND RECRUITMENT<br />

Finding the right person for the role...<br />

BOOK YOUR SPOT IN<br />

OUR FEBRUARY ISSUE<br />

For more information contact the team today<br />

at info@nmmedia.co.nz or 07 838 1333<br />

The impact of<br />

recognition on<br />

employees<br />

RemNet (www.remnet.org.nz) is a not-forprofit<br />

organisation providing remuneration<br />

and human resources (HR) specialists<br />

throughout New Zealand with an effective<br />

tool to connect, network and share<br />

knowledge and information.<br />

By NIGEL MURPHY<br />

Consultant, Strategic Pay<br />

The organisation is<br />

run by a voluntary<br />

committee of industry<br />

representatives and<br />

Strategic Pay is proud to<br />

support the committee as<br />

executive managers.<br />

At their recent annual<br />

conference, attendees delved<br />

into the theme “Crossing the<br />

chasm: Embracing tomorrow’s<br />

rewards today.”<br />

One speaker, Samantha<br />

Gadd of Humankind, captured<br />

many of the messages running<br />

through the conference with<br />

her talk on the impact of reward<br />

and recognition on the<br />

modern employee experience.<br />

Samantha explained that<br />

employee experience is a top<br />

HR trend globally that borrows<br />

from customer experience.<br />

Customer experience is<br />

the product of the interaction<br />

between an organisation and<br />

a customer over the duration<br />

of their relationship. The goal<br />

is to optimise the interactions<br />

from the customer’s perspective<br />

to foster customer loyalty.<br />

Employee experience is<br />

similar. It is the product of the<br />

interaction between an organisation<br />

and an employee over<br />

the duration of their relationship.<br />

The goal is optimising the<br />

interactions from the employee’s<br />

perspective to foster employee<br />

engagement.<br />

Samantha said it was little<br />

wonder that organisations<br />

that lead the way in customer<br />

experience were also some of<br />

those leading the way in employee<br />

experience.<br />

The whole organisation<br />

thinking that comes together<br />

to deliver a great customer<br />

experience is the same competency<br />

that underpins a great<br />

employee experience.<br />

Employee experience is<br />

Nigel Murphy<br />

Consultant<br />

Strategic Pay<br />

Hamilton<br />

+ mob 027 403 1242<br />

+ nigel.murphy@<br />

strategicpay.co.nz<br />

www.strategicpay.co.nz<br />

a great lens for considering<br />

pay. Pay is as important to<br />

employees as price is to customers.<br />

However, a multitude of<br />

other factors shape employee<br />

engagement and customer<br />

loyalty.<br />

Pay needs to be considered<br />

in the wider context of reward<br />

and recognition to better understand<br />

and influence the<br />

employee experience.<br />

This means considering intrinsic<br />

rewards (such as work<br />

content and purpose) and extrinsic<br />

rewards (such as pay<br />

and monetary and non-monetary<br />

benefits and recognition).<br />

At Strategic Pay we assist<br />

organisations to develop reward<br />

and recognition propositions<br />

that consider employee<br />

experience to attract, retain<br />

and engage top talent.<br />

Performance<br />

+<br />

Rewards =<br />

Success<br />

Create Success by Rewarding Performance<br />

At Strategic Pay we understand local businesses and your unique issues.<br />

Talk to us about:<br />

• Organisational Structure and Design<br />

• Remuneration and Reward<br />

• Performance Management<br />

www.strategicpay.co.nz | info@strategicpay.co.nz<br />

Auckland 09 303 4045 Hamilton 07 834 6580 Wellington 04 473 2313<br />

Christchurch03 353 0909 Dunedin 03 479 0637

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