This new Engagement Agency advisory service offers clients a strategic approach to Total Rewards with a clear return-on-investment in terms of performance, efficiencies, and employee experiences, increased engagement in company benefits, and greater financial security. The service includes a unique Personal Prosperity Assistant service for human resources departments that wish to ensure that employees are making the most of their benefits programs and are more effectively managing their personal financial and related affairs.
Led by experts in compensation and benefits management, the Engagement Agency helps organizations increase the impact of their compensation, benefits, and work life strategies to optimize recruitment, retention, willingness to recommend, safety and wellness, and the return on investment and value add of human capital.
Using established metrics and the same proactive, sensible approach that transformed quality in manufacturing, our methods can turn compensation, benefits, and work life into a measurable process with a return on investment based on recruitment, retention, willingness to recommend, attendance, safety, and more.
The service includes a unique Personal Prosperity Assistant (PPA) program for human resources departments seeking to help employees address personal financial and related issues and to ensure they are aware of all the organization’s benefits and support services. The PPA program addresses a key problem facing HR: the lack of time available to personally and regularly contact each employee to help them better cope with issues that could be holding them back at work.
The Key Benefits
Organizations of almost any size can benefit both financially and in terms of reduced risk by taking a realistic and measurable approach to a Total Rewards strategy; that is, a holistic look at the combination of compensation, benefits, and work life issues that have the most impact on the employees in your organizations and ensuring that they access them. We improve efficiency by breaking down the siloes between organizational purpose and goals, compensation, benefits, and wellness, and help employees address individual challenges in total privacy through the use of the PPA support program. ProsperBridge PPAs are not call-center employees. Each employee is assigned the same PPA at a scheduled time each month throughout the year and is guaranteed that all information shall remain anonymous unless explicitly agreed otherwise.
As explained in this recent article Total Rewards 2.0 published in ESM (Engagement Strategies Media), Total Rewards evaluates: 1) compensation using established market rate methodologies aligned with organizational values and objectives; 2) the level of engagement in benefits, 3) work life issues that have a direct impact on performance, such as financial insecurity; and 4) Diversity, Equity, and Inclusion issues.
Our Total Rewards Services Include:
Strategy evaluation: what is your organization’s purpose and values, and where do people fit into the equation.
Human capital metrics: establishing the potential return on investment of enhancing recruitment, retention, and willingness to recruit.
Gap analysis: what is your organization’s current approach to compensation, benefits, and work life? Is it strategic with clear metrics, or ad hoc with little to no measurement of impact?
Strategy design: use a collaborative effort representative of key stakeholders to create an overall plan based on the organization’s purpose, culture, and goals, and the role people play in success.
Tactical oversight: Provide senior-level support to monitor implementation of the plan at the tactical level against the metrics to look for and address opportunities or challenges.
Compensation and Benefits: Develop a strategic approach to compensation and benefits that addresses critical Diversity, Equity, and Inclusion as well as recruitment, retention, and work-life issues.
A Personal Prosperity Assistant program for employees that includes setting up goals with a non-biased advisor in complete privacy to help them address personal financial goals or challenges, including short-term cash problems; issues with their job or management, and to take advantage of company benefits.
Managed outsourcing: We can help identify appropriate companies in benefits and technology based on your organization’s needs and a transparent business model.
Reporting: We can write human capital reports in language and metrics that will past muster in human capital reporting.
Return on investment: Based on the human capital metrics established early in the process, we will be able to determine the actual impact on recruitment, retention, turnover, and even potentially willingness to refer in a way that can be linked to financial results.
Senior Advisors
Jervis DiCicco is President of ProsperBridge, a financial services support service for company employees that provides the Personal Prosperity Assistant program. He has over a dozen years of experience in financial planning.
Darwin Hanson is President of TMEvolution.com, and employee compensation, benefits and HR technology company dedicated to turning human capital into a profit center.
Resources
The article and panel discussion on the Enterprise Engagement Alliance Youtube Channel below explain our point of view on Total Rewards.
Total Rewards 2.0
An article published in Engagement Strategies Media outlining the framework for a strategic approach to Total Rewards to achieve organizational goals.
Total Rewards Essentials: YouTube Channel Show
A 40-minute panel discussion with Jervis DeCicco, Darwin Hanson, and Derrick Barton, Founder and CEO and Founder of Center for Talent Management Solutions.