Successful Employee Engagement Strategies · 2016. 1. 13. · Engagement w/o Enablement and/or...
Transcript of Successful Employee Engagement Strategies · 2016. 1. 13. · Engagement w/o Enablement and/or...
© 2015 Towers Watson. All rights reserved.towerswatson.com
Successful Employee Engagement Strategies
Employee engagement in Korean context
Kevin KimTalent and Rewards ConsultingTowers Watson
2nd April 2015
© 2015 Towers Watson. All rights reserved.towerswatson.com
Evolution of Engagement
2
Committed
Engaged
Satisfied
SustainablyEngaged
Wage earners
Satisfaction itself
Retention strategy
Value creators
Context &performance
Talent mgmt.strategy
Reactive Proactive
Engaged
Belief in goals and objectives
Emotional connection
Willingness to give extra effort for success
Sustaining the energy (physical)
Team effectiveness (social)
Feelings of accomplishment (mental)
Free from obstacles to succeed at work
Resources to get the job done
Ability to meet work challenges effectively
Enabled
Energized
© 2015 Towers Watson. All rights reserved.towerswatson.com
The power of three Es
3
<Exponential Growth with three Es>
3 t
ime
s
Low Engagement
9.9%14.3%
27.4%
High Engagement w/o
Enablement and/or Energy
High Engagement, Enablement, and Energy
OperatingMargin byGroup
<High Energy, High Engagement>
40
60
80
100
79
Yr-1 Yr-2
69
Yr-1 Yr-2En
ga
ge
me
nt
Sc
ore
<Better Enablement, Greater Profit>
LowEnablement
HighEnablement
Low
High
Net Profit Margin
2.6%
6.9%
7.3%
11.4%83
78
Source: <The Power of Three: Taking Engagement to New Heights>, Towers Watson, 2015
Engagement
LowWell-being
HighWell-being
© 2015 Towers Watson. All rights reserved.towerswatson.com
Sustainable Engagement segments
4
Highly Engaged: Those who score high on all three aspects of sustainable engagement
Unsupported: Those who are traditionally engaged, but lack enablement and/or energy
Detached: Those who feel enabled and/or energized, but lack a sense of traditional engagement
Disengaged: Those who score low on all three aspects of sustainable engagement
Source: Towers Watson 2014 Global Workforce Study — Global & Korea results
© 2015 Towers Watson. All rights reserved.towerswatson.com
Not willing to leave and not engaged…
5
Q) Likely to leave organization within two years?
39%
24%
33%
18%
20%
9%
18%
10%
36%
44%
33%
30%
30%
17%
20%
17%
25%
32%
34%
52%
50%
74%
61%
73%
Agree Mixed Disagree
(Global)
Engagement Profile(Korea)
HighlyEngaged
Unsupported
Detached
Disengaged
Korea
Global
Korea
Global
Korea
Global
Korea
Global
Source: Towers Watson 2014 Global Workforce Study — Global & Korea results
© 2015 Towers Watson. All rights reserved.towerswatson.com
Motivation is a tricky thing
6
© 2015 Towers Watson. All rights reserved.towerswatson.com
Retirement anxiety
7
19%
27%
28%
42%
20대
30대
40대
50대+
My organization’s retirement benefits meet my needs.
Korea Avg.
30%
전세계평균
46%
33%
42%
34%
41%
20대
30대
40대
50대+
Over the last 3 years, the age at which I plan to retire changed (a little / much later…)
Korea Avg. 38%
45%
49%
51%
50%
20대
30대
40대
50대+
Employees in positions above me are choosing not to retire, reducing my options for advancement
Korea Avg.
49%
Source: Towers Watson 2012 Global Workforce Study — Korea results
22%
21%
28%
40%
20대
30대
40대
50대+
I am confident I would have enough money to live comfortably 15 years into retirement
Korea Avg.
28%
Global Avg.
45%
Global Avg.
36%
Global Avg.
38%
50~
40~49
30~39
20~29
50~
40~49
30~39
20~29
50~
40~49
30~39
20~29
50~
40~49
30~39
20~29
AgeGroup
AgeGroup
AgeGroup
AgeGroup
© 2015 Towers Watson. All rights reserved.towerswatson.com
Key drivers of sustainable engagement in Korea
8
1 Leadership
2Goals &
Objectives
3Workload &
Work-Life
4 Company Image
5 Communication
Effective at growing the business
Sincere interest in employees’ well-being
Behaves consistently with organization’s core values
Confidence in job done by leadership
Good understanding of organization’s business goals and steps needed to reach those goals
Understanding of how job contributes to the organization achieving its business goals
Healthy balance between work and personal life
Work arrangements are flexible
Enough employees in work group to get job done right
Amount of work required is reasonable
Organization highly regarded by general public
Organization conducts its business with honesty and integrity
Organization helps employees understand the business, current performance, and educates about organization’s culture and values
Communicates to employees about how their actions affect the customer
Source: Towers Watson 2014 Global Workforce Study — Korea results
© 2015 Towers Watson. All rights reserved.towerswatson.com
Key Drivers of Attraction and Retention (Korea vs. Global)
9
Limiting work-related stress 1 Base salary
Base salary 2 Career opportunities
Relationship with supervisor 3 Trust in leadership
Flexibility or choice in benefit 4 Job security
Retirement benefits 5 Length of commute
Physical work environment 6 Relationship with supervisor
Length of commute 7 Limiting stress from work
Job security 1 Base salary
Base salary 2 Job security
Reputation (good employer) 3 Career opportunities
Vision/Mission/Values 4 L&D opportunities
Flexibility or choice in benefit 5 Challenging work
Length of commute 6 Reputation (good employer)
Career opportunities 7 Paid time-off (vacation)
What attracts
people to join
the company…
(attraction drivers)
What keeps
employees from
leaving…
(retention drivers)
Source: Towers Watson 2014 Global Workforce Study — Global & Korea results
© 2015 Towers Watson. All rights reserved.towerswatson.com
Attraction drivers – more sensitive to hygiene factors
10
56%
31%
24%
13% 14%18%
38%
20%
14%
28%31%
35%
Job security Health care andwellness benefits
Organization'sfinancial
performance
Challenging work Opportunities tolearn new skills
Opportunities toadvance in my
career
Korea Global
Korea > Global Korea < Global
Q. Please select the top five most important reasons why you joined your current organization
Source: Towers Watson 2012 Global Workforce Study — Global & Korea results
© 2015 Towers Watson. All rights reserved.towerswatson.com
Retention drivers – stress management is key
11Source: Towers Watson 2012 Global Workforce Study — Global & Korea results
37%
27% 26%
14%10%
30%
25%
18% 19%22%
17%
40%
Work-relatedstress
Retirementbenefits
Physical workenvironment
Time required tocommute to work
Ability ofcoworkers
Opportunities toadvance in my
career
Korea Global
Q. Please select the top five most important reasons why you leave your current organization
Korea > Global Korea < Global
© 2015 Towers Watson. All rights reserved.towerswatson.com
Leadership is the number-one driver, but…
I have the trust & confidence
in the job being done by the
senior leadership of my
organization37%
Senior management is doing a
good job of developing future
leaders at my organization24%
Senior management at my
organization has a sincere
interest in employees’ well-
being31%
Senior management is doing a
good job of growing the
business at my organization33%#1 Leadership is
the number-one
driver of sustainable
engagement, however,
employees view this
driver as…
12Source: Towers Watson 2014 Global Workforce Study — Korea results
© 2015 Towers Watson. All rights reserved.towerswatson.com
Engagement and leadership are mutually-reinforcing
13
Senior leaders
are effective…
Supervisor is
effective…
8%
23%
35%
72%
14%
21%
30%
17%
22%
29%
18%
7%
56%
29%
17%
3%
Highly Engaged Unsupported Detached Disengaged
Engagement Profile
Source: Towers Watson 2014 Global Workforce Study — Global results
© 2015 Towers Watson. All rights reserved.towerswatson.com
EVP and engagement go hand in hand
14
70%
74%
70% 70%
48%
40% 41%43%
35%
28%
25%
35%
29%
16%
12%13%
My organization has a formalemployee value proposition.
My organization does a good jobliving up to the EVP.
My organization has a reputationfor providing a good EVP
My organization does a good jobaligning our EVP with what it stands
for in the market
Highly Engaged Unsupported Detached Disengaged
KoreaAvg.
41% KoreaAvg.
33%
KoreaAvg.
30%
KoreaAvg.
33%
Source: Towers Watson 2012 Global Workforce Study — Korea results
© 2015 Towers Watson. All rights reserved.towerswatson.com
Flexible work arrangement and perception of EVP
15
36%
25%22%
24%
47%
42%
39%
43%
53%
49%
44%
51%
My organization has a formalemployee value proposition.
My organization does a good jobliving up to the EVP.
My organization has a reputationfor providing a good EVP
My organization does a good jobaligning our EVP with what it stands
for in the market
No flexible work Time-based flexible work Location-based flexible work
Source: Towers Watson 2012 Global Workforce Study — Korea results
© 2015 Towers Watson. All rights reserved.towerswatson.com
Mistakes in “managing” engagement
16
Business-drivenSeeing engagement as an HR activity unconnected to business
Key-driver focusWrong or too much focus on the scores (results)
Focus & monitoringWorking on too many things at the same time (program-driven)
Shared responsibilityChange implementation assigned solely as the role of managers
Context savvyCopying external ‘programs’ without understanding the context
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Finally, to improve engagement…
17
Align people to job
Develop people
Deliver the deal
Energize change
Managers
Employees Company
Leaders
Determine strategy
Make timely decisions
Foster positive climate
Delegate appropriately
Each stakeholder must
do his/her part…
Internalize values
Be proactive
Put customers first
Provide feedback
Have a shared purpose
Hire right people
Make efficient systems
Promote collaboration
© 2015 Towers Watson. All rights reserved.towerswatson.com
5 Myths of Great Workplace
18
Everyone Is Incessantly Happy
Conflict Is Rare
Mistakes Are Few
They Hire for Cultural Fit
Their Offices Are Full of Fun Things
Source: “5 Myths of Great Workplaces” <Harvard Business Review>, Mar 2015