Do your re­search to find ‘right’ com­pen­sa­tion

Winnipeg Free Press - Section H - - CAREERS - COLLEEN COATES

ALL you have to do is type the word salary into any web browser and you will get a plethora of op­tions to choose from to find out how much you should be paid.

If you are the em­ployee who is search­ing for this in­for­ma­tion, you may choose to fo­cus on the high­est of those that you find. If you are the em­ployer, your view may be dif­fer­ent on what the “right” salary is for that same po­si­tion. I con­ducted a test of three dif­fer­ent web­sites of­fer­ing to give me the salary for an ac­coun­tant, and I came up with three dif­fer­ent salaries, with an over­all dif­fer­ence of $30,000.

So what’s a per­son to do with such vastly dif­fer­ent in­for­ma­tion? Well, like any other topic you search on the In­ter­net, you have to con­sider the source and de­ter­mine ob­jec­tiv­ity and re­li­a­bil­ity. As the em­ploy­ment rate in Canada drops and the search for tal­ent tight­ens, or­ga­ni­za­tions will need to be­come even more aware of how their salaries, in­cen­tives and ben­e­fits com­pare to their com­peti­tors for tal­ent. Com­pen­sa­tion sur­veys such as the Man­i­toba re­port spon­sored by the Win­nipeg Cham­ber of Com­merce pro­vide to­tal com­pen­sa­tion in­for­ma­tion to help guide com­pany de­ci­sions.

It’s no ac­ci­dent that suc­cess­ful com­pa­nies are able to at­tract and re­tain key in­di­vid­u­als. Through well-thought out com­pen­sa­tion strate­gies, suc­cess­ful com­pa­nies have learned to arm them­selves with re­li­able data to help guide com­pen­sa­tion de­ci­sions. These com­pen­sa­tion strate­gies must be de­vel­oped as part of an over­all tal­ent man­age­ment strat­egy that helps com­pa­nies en­sure they are po­si­tioned to meet cur­rent and fu­ture tal­ent needs.

Ac­cord­ing to a re­cent study, there are 22 key pri­or­i­ties for or­ga­ni­za­tions who want to im­prove their tal­ent man­age­ment pro­cesses. The study sug­gests that lead­ers, own­ers and hu­man re­source pro­fes­sion­als need to fo­cus on the ar­eas of per­for­mance man­age­ment, sourc­ing and re­cruit­ing, work­force plan­ning, com­pe­tency man­age­ment, learn­ing and de­vel­op­ment, and lead­er­ship de­vel­op­ment. The fol­low­ing list is the top 10 of 22 pro­grams and pro­cesses re­quired for those who want to do a bet­ter job at de­vel­op­ing and man­ag­ing their peo­ple: Coach­ing pro­gram. Con­sol­i­da­tion of staffing re­quire­ments.

Pro­cesses to iden­tify cur­rent and fu­ture tal­ent gaps.

Or­ga­ni­za­tional and func­tional com­pe­ten­cies main­tained.

Staffing met­rics such as cost per hire.

Man­ager and cor­po­rate goal align­ment.

Con­sis­tent de­vel­op­ment plans and pro­cesses.

Clear and mea­sur­able goals for all em­ploy­ees.

Job func­tional com­pe­ten­cies es­tab­lished.

Com­pe­ten­cies in­cor­po­rated into re­cruit­ment process.

Un­for­tu­nately, I would sug­gest that many or­ga­ni­za­tions would say these pro­cesses are HR ac­tiv­i­ties, but they should be viewed as mis­sion crit­i­cal busi­ness pro­cesses. While many of the busi­ness lead­ers I speak with would agree that the ac­tiv­i­ties above are im­por­tant to an or­ga­ni­za­tion’s suc­cess, I also hear that these same or­ga­ni­za­tions are not sat­is­fied with how these pro­grams and pro­cesses are im­ple­mented in their own or­ga­ni­za­tion.

Upon fur­ther re­search into Man­i­toba or­ga­ni­za­tions’ im­ple­men­ta­tion of the above pro­cesses and ac­tiv­i­ties I re­viewed the re­sults from the 201½012 Com­pen­sa­tion Sur­vey for Man­i­toba Em­ploy­ers. One ques­tion posed asked par­tic­i­pants if they had a for­mal per­for­mance man­age­ment pro­gram in place. An im­pres­sive 85 per cent of pri­vate or­ga­ni­za­tions said they had a for­mal pro­gram in place, but only 50 per cent of smaller or­ga­ni­za­tions (less than 100 em­ploy­ees). The un­told story though is the lack of ef­fec­tive­ness of their per­for­mance man­age­ment pro­grams. In an in­for­mal poll con­ducted last year, we found ap­prox­i­mately 70 per cent of or­ga­ni­za­tions were un­happy with their per­for­mance man­age­ment pro­gram.

If you want to be one of those suc­cess­ful com­pa­nies that do a great job at man­ag­ing and de­vel­op­ing their peo­ple, you need to first fo­cus on the peo­ple and pro­cesses that mat­ter to your busi­ness. Spend your time on the 30 per cent of your peo­ple who gen­er­ate 70 per cent of your or­ga­ni­za­tion’s value. Sec­ond, work with your busi­ness lead­ers to de­sign and im­ple­ment busi­ness pro­cesses that drive your or­ga­ni­za­tion’s suc­cess, such as those listed above. Lastly, au­to­mate pro­cesses wher­ever you can and where it makes sense. Bot­tom line is, add value to your or­ga­ni­za­tion by im­ple­ment­ing a solid tal­ent man­age­ment frame­work that will sup­port the needs of the busi­ness with enough flex­i­bil­ity to ex­pand and con­tract with chang­ing labour mar­ket de­mands, an un­cer­tain econ­omy and in­dus­try-spe­cific chal­lenges that arise.

Colleen Coates, CHRP, CCP, is a Prac­tice Leader with Peo­ple First HR Ser­vices Ltd. She can be con­tacted at ccoates@peo­ple­firsthr.com

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