70 days ago

Tell us about your People & Culture function (or lack of!) and win up to $3,000 worth of services!

Kyla England from The People Place

Calling all SME business owners and leaders!

To enter:
Email your answers to hello@thepeopleplace.co.nz before 5pm, Friday, June 5. We will respond with our Ts&Cs.

1. What HR activity is keeping you up at night? What takes your time that you wish someone else could do for you?

2. … View more
Calling all SME business owners and leaders!

To enter:
Email your answers to hello@thepeopleplace.co.nz before 5pm, Friday, June 5. We will respond with our Ts&Cs.

1. What HR activity is keeping you up at night? What takes your time that you wish someone else could do for you?

2. What People & Culture project was planned for 2020 that is now on hold because of COVID-19?

3. What impact is COVID-19 having on your people? How would you ideally like to be able to support them through this time?

If you know you need help with your HR, but don’t know where you should start, check out our website www.thepeopleplace.co.nz...

There are vouchers to be won:

· $3,000 for a new client
· $500 for the first 8 eligible entries from new clients

Remember, email your answers to hello@thepeopleplace.co.nz before 5pm, Friday, June 5, to be eligible to win!

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469 days ago

Trying to Improve the Financial Performance of your Organisation?

Kyla England from The People Place

Did you know that an ‘organisations climate… can account for a third of an organisations financial performance’? Check out this quick article for some suggestions on how to influence your own organisational climate!

www.exjournal.org...

490 days ago

The People Place Weighs in on Compensation

Kyla England from The People Place

Many small business owners want to operate innovatively when it comes to compensation, but don’t know where to begin. Below, The People Place shares their tips for articulating and executing a compensation philosophy that meets the demands of today’s workforce.

Complete a Benchmarking … View more
Many small business owners want to operate innovatively when it comes to compensation, but don’t know where to begin. Below, The People Place shares their tips for articulating and executing a compensation philosophy that meets the demands of today’s workforce.

Complete a Benchmarking Exercise

Complete a remuneration benchmarking exercise every couple of years so that you know where you sit, comparable to the market. Most recruitment agencies produce an annual salary survey – reviewing these is a good (free!) place to start.

Articulate and Execute your Compensation Philosophy

Articulate your organisation’s compensation philosophy and have a plan for executing this. If the benchmarking exercise shows you currently sit at X% below market average, and you want to lift that, plan how you can do this, and within what timeframe. Include this the business strategy you share with your people.

Talk about Compensation

Train your leaders to discuss your organisation’s compensation strategy with their teams. Less than 20% of organisations feel confident in their managers’ ability to have robust conversations about pay, despite this being a core part of the employment relationship. If you are confident in your market position, and/or have a compelling plan to get where you want to be, share this with your staff.

Listen to the People

Ask your people about their intrinsic and extrinsic motivators and incorporate the feedback into your compensation strategy. Do you have a workforce that cares as much about work as they do family time? Consider days off in lieu of bonuses. Are you a highly values-driven organisation? Implement a rewards program that recognises behavior, not just performance. Do your people crave additional training? Think of the associated costs as a reward and an investment.

NZ’s smartest leaders care about compensation because they care about the retention, wellness, and performance of their people. They are making plans beyond mere inflation adjustments and are looking creatively at ways to engage and motivate their greatest asset, their staff.

If you’d like to experience the benefits of a well-articulated and executed compensation strategy in your organization, contact us today.

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