Compensation & Benefits How Do You Attract, Recruit and Retain Talent When you Can’t Pay More than Your Competitors? This presentation will consist of a broad overview of Compensation and Benefits from an Executive Recruiter’s point of view and why C&B can make and/or break a company. We are going to discuss why employees generally feel under- compensated and what HR and companies can do to solve this problem. What can participants expect to learn: 1. What Compensation & Benefits are to Executive Recruiters. 2. The importance of staying on top of this issue at all times. 3. How HR can be a huge benefit to compensation.

What is Compensation and Benefits? C&B's are much more than money, vacations and free doctor visits. What about the opportunity to work with cool people, challenge, but realistic expectations and growth?

Compensation &Benefits Essentials Is money a candidate’s #1 priority for accepting their next opportunity? What do you need to do to stay competitive in today’s market? What is the industry saying about your C&B’s? What are your employees saying about your C&B’s? What do you think about your C&B’s AND what are you doing about it? Who’s doing it right? How are they doing it right?

If you find the right people to work with, challenging responsibilities, and growth… …the money will follow -Ron McManmon

Useful Tips to Improve Employee Retention in Your Organization Get the right people on the bus Communication, communication, communication Include employees in decision making Allow team members to share their knowledge with others Shorten the feedback loop Offer a competitive compensation package Balance work and personal life Provide opportunities for growth and development Recognize team members for their hard work and let them know they are appreciated Clearly define what is expected of team members The quality of supervision and mentorship Fair and equitable treatment of all

What Makes a Great Manager? A great manager will: Recruit Train Support Mentor PROMOTE! Bad managers will Dictate Blame Golf Stagnate lose their staff to a competitor

Employees do not like or respect their managers or leaders. Often, employees don't quit the business, they quit their manager. If the manager or leader is rude, abusive, uncaring, a poor communicator or worse, employees will not stay for long. Do exit interviews and find out why employees are leaving Provide leadership and communication skills training for leaders. Hold managers or leaders accountable for turn-over; provide incentives for reductions in turn-over. Make sure that your expectations are reasonable.

I was asked to be part of a committee several months ago to address a problem that a group of businesses were having. Our objective was to 1st listen to their problems, conduct survey’s that would help us more clearly define the details and to offer up some form of solutions. This process took over three months and it is still ongoing…

Attract Culture & Environment Branding Advertising Your employee’s network Events Executive Search

Retain Culture & Environment Training Duties and Responsibilities Compensation  Money  Benefits Quality of Life (QOL)  Virtual  Day care

“Diminished loyalty and widespread apathy can undermine business performance, particularly as companies increasingly look to their workforces to drive productivity gains and spur innovation.”

Nearly one in three (32%) US workers is seriously considering leaving his or her organization at the present time, up sharply from 23% in Companies lose $350 billion a year because of employee disengagement. Your company does NOT have to be one of them.

Your reputation will precede you CEG is dedicated from the top down… 75% of all candidates are hired because of chemistry 80% of all deals are killed when money is discussed 99% of all the candidates I speak with want to:  Work with the right people  Do what they love to do  Have an opportunity to grow  Be compensated fairly

Did you know... The traditional interview approach is only 14 percent effective in determining the right person for the job?14 percent effective Most behavioral profiles only measure percent of what can be measured? Most people looking for jobs are good actors? Most employers have no idea how to effectively communicate with their people. The cost of turning over one team member can range from 1/2 to 4 times the employees annual compensation

Some Employee Retention Tips to Consider: Keep your employees engaged in their work, and the business. Cross-train employees to do more, and different, job responsibilities. Don't surprise your staff, tell them and show them that cross-training will make them more valuable employees. Ask employees if they are willing and able to work-share: maybe one job could be shared by two employees. Or maybe five employees would each have one unpaid day off per week (effectively reducing staff by one). One of the most effective employee retention tips is to build a strong employee recognition program. Use employee recognition ideas like reward programs

Retention Tips are Only Effective if You Understand the Reasons Why Employees Quit: Employees feel that there is no link between performance and pay Employees can't 'see' opportunities to learn and advance. Employees don't feel their work and contribution is recognized. Employees don't clearly understand what the job is when they accept the position; particularly true if new to the industry or new to work (recently graduated). Employees do not like or respect their managers or leaders: often employees don't quit the business, they quit their manager. Employees feel that the company favors one employee over another. Employees feel threatened and/or overwhelmed by constant change and re-organization.