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How to Make Sure Your Employees Feel Valued at Work

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We have a foundational human need to feel valued, to feel appreciated, to feel like what we do matters, and is recognized. In HR we talk about “total rewards” or “rewards and recognition”. We may use all sorts of tactics to try to improve “employee engagement” but often miss some of the most important elements of this conversation. In this webinar we’ll dive deep into this human need to feel valued.

In this webinar, Tim Low, SVP of Marketing at PayScale, and Rusty Lindquist, VP of Thought Leadership at BambooHR will discuss why feeling valued is the key to sustaining great work and high performance. They will highlight what signals you need to watch out for to know when employees don’t feel appreciated. And most importantly, they will share concrete steps you can take to make sure your employees feel valued.

Publicada em: Recrutamento e RH
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How to Make Sure Your Employees Feel Valued at Work

  1. 1. How to Make Sure Your Employees Feel Valued at Work bamboohr.com payscale.com Tim Low SVP of Marketing PayScale Rusty Lindquist VP of Thought Leadership BambooHR
  2. 2. The link between emotion and performance
  3. 3. Employee Landscape Performance / Productivity
  4. 4. Employee Landscape TIME TALENT Performance / Productivity
  5. 5. Employee Landscape TIME TALENT ENERGY Emotional Capital isthe most important capital inour organizations. Emotion Engagement Sentiment Satisfaction Performance / Productivity Energy matters most
  6. 6. Employee Landscape TIME TALENT ENERGY Performance / Productivity We hire for thisWe give them this We expect this When they’re full of this
  7. 7. Employee Landscape TIME TALENT ENERGY Performance / Productivity
  8. 8. Employee Landscape TIME TALENT ENERGY Performance / Productivity The Organizational Impact of Disengagement 20% of their total performance capacity
  9. 9. Employee Landscape TIME TALENT ENERGY Performance / Productivity Want to drive up performance and productivity? Solve for energy.
  10. 10. Employee Landscape TIME TALENT ENERGY Performance / Productivity Want to drive up performance and productivity? Solve for energy.
  11. 11. Employee Landscape TIME TALENT ENERGY Performance / Productivity Want to drive up performance and productivity? Solve for energy.
  12. 12. Employee Landscape Performance / Productivity Emotional Capital isthe most important capital inour organizations. Solving for “energy” ishow you put the force of work back intothe workforce. Want to drive up performance and productivity? Solve for energy. TIME TALENT ENERGY
  13. 13. Compensation is the story of how much we’re valued
  14. 14. How to Make Sure Your Employees Feel Valued at Work bamboohr.com payscale.com Attracting / retaining talent is about reputation – what would your employees tell others about what the org values? • What you pay • How you pay • Why you pay the way you do Are You Paying Attention to Your Pay Brand?
  15. 15. How to Make Sure Your Employees Feel Valued at Work bamboohr.com payscale.com Only 1 in 5 Employees Feel Fairly Paid of employers say their employees are paid fairly 43% of workers think they are paid fairly 21% of workers paid the market rate and 64% of overpaid workers think they are underpaid 35%
  16. 16. How to Make Sure Your Employees Feel Valued at Work bamboohr.com payscale.com Employee Pay Perception Is 5x More Impactful Than How You Pay vs. Market
  17. 17. Understanding Employee “Triggers”
  18. 18. Life’s Journey A role in an organization An employee e THE DAY WE ARE BORN THE DAY WE FIND OUT WHY
  19. 19. OPTIMAL ORBIT WHY ORBIT OF EMPLOYEE ENGAGEMENT
  20. 20. WHY ORBIT OF EMPLOYEE ENGAGEMENT EMOTIONAL DISTANCING
  21. 21. WHY ORBIT OF EMPLOYEE ENGAGEMENT SOLIDIFYING RESOLVE
  22. 22. WHY ORBIT OF EMPLOYEE ENGAGEMENT CRYSTALIZATION OF DISCONTENT
  23. 23. WHY ORBIT OF EMPLOYEE ENGAGEMENT ESCAPE VELOCITY
  24. 24. WHY ORBIT OF EMPLOYEE ENGAGEMENT
  25. 25. WHY ORBIT OF EMPLOYEE ENGAGEMENT
  26. 26. WHY ORBIT OF EMPLOYEE ENGAGEMENT INTERVENTION OPPORTUNITIES
  27. 27. WHY ORBIT OF EMPLOYEE ENGAGEMENT Organizational Waste (20% Total Productive Power)
  28. 28. WHY ORBIT OF EMPLOYEE ENGAGEMENT (TREATMENT)(DIAGNOSTICS)
  29. 29. OPTIMAL ORBIT ESCAPE VELOCITY CRYSTALIZATION OF DISCONTENT SOLIDIFYING RESOLVE EMOTIONAL DISTANCING WHY ORBIT OF EMPLOYEE ENGAGEMENT
  30. 30. ORBIT OF EMPLOYEE ENGAGEMENT ABILITY TO DETECTHARD EASY ABILITY TO CORRECT EASY HARD We have to detect early, so that we can act fast. Begin with asking one simple question: eNPS
  31. 31. How to Make Sure Your Employees Feel Valued at Work bamboohr.com payscale.com How an Employee signals when they don’t feel valued
  32. 32. How to Make Sure Your Employees Feel Valued at Work bamboohr.com payscale.com Signals Employees Send When TheyFeel Under-Valued “CAN I GET A RAISE?” • “I work all the time and I’m tired” • “I deserve a promotion” • “I don’t feel appreciated”
  33. 33. How to Make Sure Your Employees Feel Valued at Work bamboohr.com payscale.com Other signals of distress • Quality of work suffers • Lack of initiative • Unhealthy behavior • Apathy when “wins” occur • Social distancing from colleagues
  34. 34. Understanding the importance of pay perception
  35. 35. HOW WHAT OUTSIDE-IN (CONVENTIONAL) INSIDE-OUT (REMARKABLE) Start With Why WHY Mission Values Beliefs EMPLOYEE SENTIMENT is a filter Thisis EmployerBrand Culture (How you behave) (who you are) Story (What they say about how you behave)
  36. 36. HOW WHAT OUTSIDE-IN (CONVENTIONAL) INSIDE-OUT (REMARKABLE) Start With Why WHY Mission Values Beliefs Pay Perception is a filter Thisis PayBrand Comp Practices (How you pay) (who you are) Story (What they say about how you pay)
  37. 37. How to Make Sure Your Employees Feel Valued at Work bamboohr.com payscale.com How to manage pay perception
  38. 38. How to Make Sure Your Employees Feel Valued at Work bamboohr.com payscale.com • Only 24 % of employees say that their company’s pay processes are transparent. • When employees ask for raises and their employer says “no” because of ”budgetary constraints”, only 22 % of workers believe this rationale to be true. • Of workers who were denied a raise, 33 % reported that their employer provided no rationale for the decision. Lack of pay transparency -> low trust / low morale Research from PayScale
  39. 39. How to Make Sure Your Employees Feel Valued at Work bamboohr.com payscale.com 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
  40. 40. How to Make Sure Your Employees Feel Valued at Work bamboohr.com payscale.com 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
  41. 41. How to Make Sure Your Employees Feel Valued at Work bamboohr.com payscale.com • 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 How do you make sure employees feel valued?
  42. 42. How to Make Sure Your Employees Feel Valued at Work bamboohr.com payscale.com • Alignment to business goals • Talent market / competition • Data sources • Communication Develop a Compensation Strategy
  43. 43. How to Make Sure Your Employees Feel Valued at Work bamboohr.com payscale.com 1. What talent market(s) do you intend to use for comparison for your org? 2. How competitive do you want to be relative to your talent market(s)? 3. What do you want to reward with your compensation dollars? 4. What are your goals? Your compensation strategy should answer these q’s:
  44. 44. How to Make Sure Your Employees Feel Valued at Work bamboohr.com payscale.com • 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 • Discuss with employees their career goals and the paths forward Have Honest Conversations About Pay and Performance
  45. 45. How to Make Sure Your Employees Feel Valued at Work bamboohr.com payscale.com The Pay Transparency Spectrum
  46. 46. How to Make Sure Your Employees Feel Valued at Work bamboohr.com payscale.com Employees want autonomy, growth opportunities and enjoyable work
  47. 47. How to Make Sure Your Employees Feel Valued at Work bamboohr.com payscale.com Pride plays an important role in motivating people.
  48. 48. What can you do?
  49. 49. How to Make Sure Your Employees Feel Valued at Work bamboohr.com payscale.com Final Takeaways
  50. 50. How to Make Sure Your Employees Feel Valued at Work bamboohr.com payscale.com 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. Receive a free copy of the eBook Compensating the Multigenerational Workforce PayScale.com Thank you!
  51. 51. How to Make Sure Your Employees Feel Valued at Work bamboohr.com payscale.com Questions? Tim Low SVP of Marketing PayScale Rusty Lindquist VP of Thought Leadership BambooHR

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