Nicolene de Beer, First National Bank
Nicolene de Beer, First National Bank Nicolene de Beer, First National Bank
The reward roadmap Nicolene de Beer Head of Reward, First National Bank First National Bank – a division of FirstRand Bank Limited. An Authorised Financial Services and Credit Provider (NCRCP20).
- Page 2: Navigating reward in a perpetually
- Page 5 and 6: Leverage
- Page 7 and 8: Levera Leverage data ge Why? - Enab
- Page 9 and 10: Levera Leverage HR Business Partner
- Page 11 and 12: Align Align with Business Strategy
- Page 13 and 14: Differenti ate
- Page 16: The only thing standing between you
The reward roadmap<br />
<strong>Nicolene</strong> <strong>de</strong> <strong>Beer</strong><br />
Head of Reward, <strong>First</strong> <strong>National</strong> <strong>Bank</strong><br />
<strong>First</strong> <strong>National</strong> <strong>Bank</strong> – a division of <strong>First</strong>Rand <strong>Bank</strong> Limited. An Authorised Financial Services and Credit Provi<strong>de</strong>r (NCRCP20).
Navigating reward in a perpetually<br />
changing organisation
Differentiating<br />
Aligning<br />
Leveragi<br />
ng<br />
Leveraging
Leverage
Levera<br />
Leverage technology<br />
ge<br />
Why?<br />
- Helps to align reward programmes<br />
more efficiently and cost effectively<br />
- Frees you up to do other things<br />
-Automate reporting<br />
- Automate workflow processes<br />
- Help people to help themselves<br />
I<strong>de</strong>as: Recognition programmes, sales incentive<br />
tracking tools, job evaluation systems
Levera<br />
Leverage data<br />
ge<br />
Why?<br />
- Enable you to make more clever<br />
<strong>de</strong>cisions<br />
-Un<strong>de</strong>rstand your workforce and<br />
key workplace trends better<br />
- Dashboards<br />
- Scorecards<br />
- Surveys<br />
I<strong>de</strong>as: Engagement surveys, reward preference<br />
surveys, pay positioning dashboards
Levera<br />
Leverage communication<br />
ge<br />
Why?<br />
Levera<br />
Leverage HR Business Partners<br />
ge<br />
Why?<br />
- They are the foot soldiers<br />
- They are your customers<br />
- Decentralise some reward functions<br />
(i.e. job evaluation and market pricing)<br />
- Education and training<br />
I<strong>de</strong>as: Toolbox HR Portal, Training in Reward,<br />
JIT training, Excel training,
Alignment
Align<br />
Align with Business Strategy<br />
Why?<br />
Achieve greater results<br />
- Align with culture<br />
- Align reward with performance<br />
- Align with HR Strategy<br />
I<strong>de</strong>as: Review your strategy ito pay levels, pay<br />
variability, use of recognition and variable pay
Align<br />
Align with other HR functions<br />
Why?<br />
-Achievement of overall HR and business<br />
strategy<br />
-Link reward with retention objectives<br />
- Align EVP and Total Reward<br />
- Align reward with performance<br />
I<strong>de</strong>as: Wellness and L&D packaged as part of<br />
the total reward offering
Differenti<br />
ate
Differ<br />
Differentiate your rewards<br />
ent<br />
Why?<br />
- More bang for your buck<br />
- Distinguish yourself from competitors<br />
-Through Total Rewards and EVP<br />
- Workforce segments (critical skills, high<br />
potentials, critical roles, etc.)<br />
I<strong>de</strong>as: Pay differentiation, reward choices and<br />
flexing, types of contracts
The only thing standing<br />
between you and your goal<br />
is the b@s#=t story you keep<br />
telling yourself as to why you<br />
can’t achieve it<br />
Felix Baumgartner