accelerating through the turn...2020/05/27 · recognizing and rewarding your people through the...
TRANSCRIPT
![Page 1: Accelerating through the turn...2020/05/27 · Recognizing and rewarding your people through the transition • Carefully manage overall compensation spend • Recognize everyday](https://reader036.vdocuments.net/reader036/viewer/2022071507/6127c5fe0fcf0004b46326fe/html5/thumbnails/1.jpg)
Accelerating through the turn
May 27, 2020
Shaping the future workforce.
![Page 2: Accelerating through the turn...2020/05/27 · Recognizing and rewarding your people through the transition • Carefully manage overall compensation spend • Recognize everyday](https://reader036.vdocuments.net/reader036/viewer/2022071507/6127c5fe0fcf0004b46326fe/html5/thumbnails/2.jpg)
HOUSEKEEPING
ALL LINES ARE MUTED1
SUBMIT YOUR QUESTIONS THROUGH THE Q&A BOX2
GIVE US FEEDBACK3
WE WILL SHARE THE SLIDES AND RECORDING WITH YOU AFTER THE SESSION4
JOIN OUR UPCOMING WEBINARS5
![Page 3: Accelerating through the turn...2020/05/27 · Recognizing and rewarding your people through the transition • Carefully manage overall compensation spend • Recognize everyday](https://reader036.vdocuments.net/reader036/viewer/2022071507/6127c5fe0fcf0004b46326fe/html5/thumbnails/3.jpg)
Agenda
Creating a secure environment
Shaping the future workforce
Hit the gas actions
1
2
3
© 2020 Korn Ferry. All rights reserved 3
JAMIE PRIDEClient Partner Korn Ferry, Australia
TONNY LOWSenior Client PartnerKorn Ferry, Singapore
PIP EASTMANManaging Director, APAC RPO SolutionsKorn Ferry, Singapore
KARTIKEY SINGHAssociate Client PartnerKorn Ferry, Singapore
![Page 4: Accelerating through the turn...2020/05/27 · Recognizing and rewarding your people through the transition • Carefully manage overall compensation spend • Recognize everyday](https://reader036.vdocuments.net/reader036/viewer/2022071507/6127c5fe0fcf0004b46326fe/html5/thumbnails/4.jpg)
4
People who never left
1People who might never come back
on site
2The
returning vanguard
3Subsequent
waves of employees returning on site
4
Creating a secure environment
© 2020 Korn Ferry. All rights reserved 4
![Page 5: Accelerating through the turn...2020/05/27 · Recognizing and rewarding your people through the transition • Carefully manage overall compensation spend • Recognize everyday](https://reader036.vdocuments.net/reader036/viewer/2022071507/6127c5fe0fcf0004b46326fe/html5/thumbnails/5.jpg)
A framework for action
© 2020 Korn Ferry. All rights reserved
How will work change?
1 2 3How will your workforce change?
How will you make this transition?
© 2020 Korn Ferry. All rights reserved 5
![Page 6: Accelerating through the turn...2020/05/27 · Recognizing and rewarding your people through the transition • Carefully manage overall compensation spend • Recognize everyday](https://reader036.vdocuments.net/reader036/viewer/2022071507/6127c5fe0fcf0004b46326fe/html5/thumbnails/6.jpg)
6
Different work needs to be done
We need people to work in
different ways
People want to work differently
How will work change?Changes in work are being amplified by the COVID crisis
© 2020 Korn Ferry. All rights reserved
![Page 7: Accelerating through the turn...2020/05/27 · Recognizing and rewarding your people through the transition • Carefully manage overall compensation spend • Recognize everyday](https://reader036.vdocuments.net/reader036/viewer/2022071507/6127c5fe0fcf0004b46326fe/html5/thumbnails/7.jpg)
How will your workforce change?
2
© 2020 Korn Ferry. All rights reserved 7
![Page 8: Accelerating through the turn...2020/05/27 · Recognizing and rewarding your people through the transition • Carefully manage overall compensation spend • Recognize everyday](https://reader036.vdocuments.net/reader036/viewer/2022071507/6127c5fe0fcf0004b46326fe/html5/thumbnails/8.jpg)
8
How will your workforce change? The 6 Rights
SIX RIGHTS
Right size
Right shape
Right site
Right spend
Right skillsRight source
© 2020 Korn Ferry. All rights reserved 8
![Page 9: Accelerating through the turn...2020/05/27 · Recognizing and rewarding your people through the transition • Carefully manage overall compensation spend • Recognize everyday](https://reader036.vdocuments.net/reader036/viewer/2022071507/6127c5fe0fcf0004b46326fe/html5/thumbnails/9.jpg)
Right Skills
• Learns fast• Manages ambiguity
and complexity • Motivated• Self-aware • Creative • Risk tolerant • Accountable
• Engineering • Project management • Data analysis • Cloud computing • Artificial Intelligence • User Experience Design • Sales and Marketing
Technical Behavioral
© 2020 Korn Ferry. All rights reserved 9
![Page 10: Accelerating through the turn...2020/05/27 · Recognizing and rewarding your people through the transition • Carefully manage overall compensation spend • Recognize everyday](https://reader036.vdocuments.net/reader036/viewer/2022071507/6127c5fe0fcf0004b46326fe/html5/thumbnails/10.jpg)
How will your workforce change? The 6 Rights
SIX RIGHTS
Right size
Right shape
Right site
Right spend
Right skillsRight source
© 2020 Korn Ferry. All rights reserved 10
![Page 11: Accelerating through the turn...2020/05/27 · Recognizing and rewarding your people through the transition • Carefully manage overall compensation spend • Recognize everyday](https://reader036.vdocuments.net/reader036/viewer/2022071507/6127c5fe0fcf0004b46326fe/html5/thumbnails/11.jpg)
© 2020 Korn Ferry. All rights reserved
How will you make this transition?
3
© 2020 Korn Ferry. All rights reserved 11
![Page 12: Accelerating through the turn...2020/05/27 · Recognizing and rewarding your people through the transition • Carefully manage overall compensation spend • Recognize everyday](https://reader036.vdocuments.net/reader036/viewer/2022071507/6127c5fe0fcf0004b46326fe/html5/thumbnails/12.jpg)
How will you make the transition? Get focused on main job changes
Job is eliminated entirely
Job becomes contingent
Shift in focus for job
Job is elevated
Job is created
© 2020 Korn Ferry. All rights reserved 12
![Page 13: Accelerating through the turn...2020/05/27 · Recognizing and rewarding your people through the transition • Carefully manage overall compensation spend • Recognize everyday](https://reader036.vdocuments.net/reader036/viewer/2022071507/6127c5fe0fcf0004b46326fe/html5/thumbnails/13.jpg)
Data analysis
Complex Problem Solving
Mathematics
Computer Science
Automation
Data interpretation
Options to fill the role
• Market scarcity • Cost to hire • Faster
• Optimize talent• Pay challenges
• Enough horsepower for a bigger job?
• Pay challenges
Data scientist Key considerations
1
2
3
Hire
Reskill (Marketing analyst)
Upskill (Qualified accountant)
Job is created
© 2020 Korn Ferry. All rights reserved 13
![Page 14: Accelerating through the turn...2020/05/27 · Recognizing and rewarding your people through the transition • Carefully manage overall compensation spend • Recognize everyday](https://reader036.vdocuments.net/reader036/viewer/2022071507/6127c5fe0fcf0004b46326fe/html5/thumbnails/14.jpg)
Recognizing and rewarding your people through the transition
• Carefully manage overall compensation spend
• Recognize everyday heroics
• Restructure incentives
• Get base salary right• Reward the right things• Reconnect performance
and pay
Critical near term actions
Accelerating through the turn
Foundation: Job Architecture
© 2020 Korn Ferry. All rights reserved 14
![Page 15: Accelerating through the turn...2020/05/27 · Recognizing and rewarding your people through the transition • Carefully manage overall compensation spend • Recognize everyday](https://reader036.vdocuments.net/reader036/viewer/2022071507/6127c5fe0fcf0004b46326fe/html5/thumbnails/15.jpg)
15
123
4Customize “return to work” plans for each employee population
Support your managers to lead new ways of working 5
6Evaluate the impact of different recovery scenarios on the “6 Rights”
Determine whether your current job architecture is fit for modern roles of the future
Perform a quick hire / reskill / upskill assessment for your critical jobs
Align your recognition and incentives plans to reward people for the things you need them to focus on now
Hit the gas
© 2020 Korn Ferry. All rights reserved 15
![Page 16: Accelerating through the turn...2020/05/27 · Recognizing and rewarding your people through the transition • Carefully manage overall compensation spend • Recognize everyday](https://reader036.vdocuments.net/reader036/viewer/2022071507/6127c5fe0fcf0004b46326fe/html5/thumbnails/16.jpg)
1616
Audience Q&ASpeakers in grid view
![Page 17: Accelerating through the turn...2020/05/27 · Recognizing and rewarding your people through the transition • Carefully manage overall compensation spend • Recognize everyday](https://reader036.vdocuments.net/reader036/viewer/2022071507/6127c5fe0fcf0004b46326fe/html5/thumbnails/17.jpg)
1717
What’s next
Sign up for the other webinars in this series
Monday, 1 JuneFuture-proofing leaders
Tuesday, 2 JuneThe 3 Defining Practices of a Commercially Agile & Customer Centric Organisations
On DemandHow organisations can transform to perform
© 2020 Korn Ferry. All rights reserved
SCAN THE QR WITH YOUR PHONE TO REGISTER
![Page 18: Accelerating through the turn...2020/05/27 · Recognizing and rewarding your people through the transition • Carefully manage overall compensation spend • Recognize everyday](https://reader036.vdocuments.net/reader036/viewer/2022071507/6127c5fe0fcf0004b46326fe/html5/thumbnails/18.jpg)
Please provide yourfeedback