How to make sure your employees feel valued at work

How to Make Sure Your Employees Feel Valued at Work bamboohr.com Rusty Lindquist Tim Low VP of Thought Leadership BambooHR SVP of Marketing PayScale payscale.com The link between emotion and performance Employee Landscape Performance / Productivity Employee Landscape Performance / Productivity TIME TALENT Employee Landscape Performance / Productivity Emotional Capital is the most important capital in our organizations TIME TALENT Emotion Engagement ENERGY Sentiment Satisfaction Energy matters most Employee Landscape Performance / Productivity We expect this We give them this We hire for this TIME TALENT ENERGY When they’re full of this Employee Landscape Performance / Productivity TIME TALENT ENERGY Employee Landscape Performance / Productivity The Organizational Impact of Disengagement TIME TALENT ENERGY 20% of their total performance capacity Employee Landscape Performance / Productivity Want to drive up performance and productivity? Solve for energy TIME TALENT ENERGY How to Make Sure Your Employees Feel Valued at Work Whether workers believe in the rationale provided by their employer has a big impact on their job satisfaction and intent to leave “Do you plan to look for new jobs in the next 12 months?” % Plan On Seeking New Job bamboohr.com payscale.com How to Make Sure Your Employees Feel Valued at Work Even if denied a raise, as long as workers believe the rationale, they are similarly satisfied with their employer as workers who received a raise % Highly Satisfied with Employer bamboohr.com payscale.com How to Make Sure Your Employees Feel Valued at Work How you make sure employees feel valued? • Develop a formal compensation plan • Have honest conversations with employees about pay and performance • Provide growth and learning opportunities • Instill a sense of pride in your employees: make them feel like their work matters bamboohr.com payscale.com How to Make Sure Your Employees Feel Valued at Work Develop a Compensation Strategy • Alignment to business goals • Talent market / competition • Data sources • Communication bamboohr.com payscale.com How to Make Sure Your Employees Feel Valued at Work Your compensation strategy should answer these q’s: What talent market(s) you intend to use for comparison for your org? How competitive you want to be relative to your talent market(s)? What you want to reward with your compensation dollars? What are your goals? bamboohr.com payscale.com How to Make Sure Your Employees Feel Valued at Work Have Honest Conversations About Pay and Performance • Have these conversations early and often • Recognize the employee’s contributions • Discuss the total compensation package • Let them know about the market value for their role and skillset • Provide context: discuss the specific reasons on you’ve decided to give/ deny someone a raise as well as the big picture • bamboohr.com Discuss with employees their career goals and the paths forward payscale.com How to Make Sure Your Employees Feel Valued at Work The Pay Transparency Spectrum bamboohr.com payscale.com How to Make Sure Your Employees Feel Valued at Work Employees want autonomy, growth opportunities and enjoyable work bamboohr.com payscale.com How to Make Sure Your Employees Feel Valued at Work Pride plays an important role in motivating people bamboohr.com payscale.com What can you do? How to Make Sure Your Employees Feel Valued at Work Final Takeaways bamboohr.com payscale.com How to Make Sure Your Employees Feel Valued at Work Thank you! BambooHR Receive a free job posting on our ATS and full HRIS for one week We will contact everyone within the next few days to set this up PayScale.com Receive a free copy of the eBook Compensating the Multigenerational Workforce bamboohr.com payscale.com How to Make Sure Your Employees Feel Valued at Work Questions? bamboohr.com Rusty Lindquist Tim Low VP of Thought Leadership BambooHR SVP of Marketing PayScale payscale.com ... force of work back into the workforce Compensation is the story of how much we’re valued How to Make Sure Your Employees Feel Valued at Work Are You Paying Attention to Your Pay Brand? Attracting... reputation – what would your employees tell others about what the org values? bamboohr.com • What you pay • How you pay • Why you pay the way you payscale.com How to Make Sure Your Employees Feel. .. the market rate and of overpaid workers think they are underpaid payscale.com How to Make Sure Your Employees Feel Valued at Work Employee Pay Perception Is 5x More Impactful Than How You Pay