Creating Low-Code Loan Applications using the Trisotech Mortgage Feature Set
Staying Relevant in Turbulent Time.pdf
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2.
3. A business of Marsh McLennan
welcome to brighter
Staying relevant in turbulent
times - Talent trends in Asia
October 2022
Godelieve van Dooren
CEO Southeast Asia Growth Markets | Mercer
Vietnam PSS Event
4. EVPs define the deal at work
Compensation Benefits
Careers Well-being
Purpose
Culture
Flexibility
• Employee Value Propositions (EVPs)
have become a common part of
organizations’ talent acquisition and
retention strategies.
• EVPs define what an organization
offers to employees (e.g., pay,
benefits) in exchange for what
employees are expected to offers to
the organization (e.g., effort, skills).
• For EVPs to be compelling, they must
be aligned with employees’
expectations.
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6. 82
88
82
74
78
76
82
86
81
67
70
67
2019 2020 2021
Pride
Motivation
Advocacy
Commitment
Mercer global norms
Percent favorable levels with
comparison to pre-pandemic results
Percent
Favorable
Change
Over Time
Pride 84% 0
Motivation 83% 0
Advocacy 78% +1
Overall
Satisfaction
77% +1
Commitment 71% +1
Engagement isn’t the problem right now
Client case study
percent agreeing over time
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7. Employees are coping with a host of new stressors
Considering the circumstances, I feel reasonably balanced
and healthy right now.
3.75
3.69
3.63
3.63
3.6
3.42
3.81
3.78
3.71
3.74
3.67 3.66
June July August
Female Managers
Male Managers
Male Employees
Female Employees
Five point scale ranging from Strongly Agree (5) to Strongly Disagree (1)
• Working parents are losing 2 days of
productivity a week due to child care and
stress
• Loneliness is on the rise, particularly for
isolated individuals quarantining alone
• Generation Z employees are worried about
the future of their jobs and their careers
• Baby Boomers are concerned about their
physical health and financial wellbeing
• Many female managers are experiencing a
double-double shift, resulting in higher
levels of cumulative stress
See https://www.mercer.com/our-thinking/career/preparing-for-a-more-flexible-future.html 7
8. Basic needs
• Pay, benefits, security
• Retention
• Pay and benefits in
exchange for
commitment
Loyalty contract
(20th century)
Psychological needs
• Achievement,
camaraderie, equity
• Contribution
• Intrinsic rewards in
exchange for effort
ENGAGEMENT
contract (pre-pandemic)
Well-being needs
• Physical, mental,
emotional, financial
• Sustainability
• Healthy experiences in
exchange for sustainable
performance
LIFESTYLE contract
(The new chapter)
And are seeking a new work experience
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13. Is the rewards experience is ready for reinvention too?
Unhappy employees Lack of outcomes Global disruption
Time intensive merit processes have
not effectively paid for performance
nor made progress on
competitiveness or equity
Only 55% believe they are fairly
compensated and 50% believe
better performance drives better
pay*
Economic impact of COVID will
tighten budgets, amidst heightened
awareness on systemic pay
inequities
*Source: Mercer Employee Research Normative Database
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14. The Annual Pay Raise experience – the Highs and Lows of the Employee
E
V
E
N
T
F
E
E
L
I
N
G
S
&
N
E
E
D
S
Record financial
performance!
Excited
Anticipation
Coworker resigned
– and got an offer
with a 20%
increase!
Under resourced–
pulling late nights
trying to keep up!
Performance
review – I’ve had a
great year!
Merit Award –
4%
Stressed
Frustrated
Disappointed
Curious
Disappointed
Confused
#@$!#!!!
Accomplished
Hopeful
14
15. And the Highs and Lows of the Manager
E
V
E
N
T
F
E
E
L
I
N
G
S
&
N
E
E
D
S
Record financial
performance! Good
news for budgets!
Excited
Anticipation
My team is poached
- for 20% more pay
Compensation budget
- same as last year?!
Allocating awards -
So much time and
energy...
Employee
conversations –
disappointment, blame
the budget! OR HR!
Surprised
Confused
Disappointed
Stressed
Relieved
Anxious
Exhausted
Dread
15
16. Are we trying to address too many things with our merit increase?
MARKET
COMPETITIVENESS
PAY EQUITY
PAY FOR
PERFORMANCE
6%
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17. How can you improve the experience given the current environment?
Proactively
manage
competitiveness
and equity
Rethink pay for
performance
Strategically
budget salary
increases
Increase Pay
Transparency
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18. W H AT ’ S
H A P P E N I N G
T O D AY
Setting budgets based
solely on what others are
doing
W H AT
S H O U L D B E
H A P P E N I N G
Strategic planning process for long-
term multi-million dollar investment
based on your talent strategy
Strategically Budget Salary Increases
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19. Proactively manage pay equity and competitiveness
MARKET
PAY EQUITY STUDY
COMPETITIVE
ANALYSIS
MANAGER
DISCRETION
X%
BUDGET
EQUITY
PERFORMANCE
(FUTURE)
BUSINESS
PERFORMANCE
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21. 5x
EM PLOYEE’S
PERCEPTION OF
PAY IS 5X MORE
IMPACTFUL ON
ENGAGEMENT
THAN HOW THEY
ARE ACTU ALLY
PAID RELATIVE TO
MARKET
M OST PEOPLE DO NOT KNOW HOW THEY ARE PAID
83%
64%
35%
14%
30%
45%
3%
6%
21%
People who are
actually paid
above market
believe they’re paid:
People who are
actually paid
at market believe
they’re paid:
People who are
actually paid
below market
believe they’re paid:
Below market
Below market
Below market
At Market Above Market
At Market Above
Market
At
Market
Above
Market
Source: PayScale Research
69%
69% OF
EMPLOYEES SAY
PAY
TRANSPARENCY
IS IMPORTANT
TO THEM
Source: Mercer Global Talent Trends
Work on Pay Transparency
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22. GENDER GENERATION LEVEL
Job
security
Flexible
hours
Convenient
location
Time off
Professional
development
Health benefits
Meaningful
work
Competitive
pay
Fun work
environment
Advancement
opportunities
Interesting/
varied work
Job
security
Flexible
hours
Convenient
location
Time off
Professional
development
Health benefits
Meaningful
work
Competitive
pay
Fun work
environment
Advancement
opportunities
Interesting/
varied work
Job
security
Flexible
hours
Convenient
location
Time off
Professional
development
Health benefits
Meaningful
work
Competitive
pay
Fun work
environment
Advancement
opportunities
Interesting/
varied work
Gen Y Gen X Baby Boomer
Male Female
Individual
contributor
All managerial
levels
What else makes people stay?
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23. Eight emerging EVP trends
making it PERSONAL
Use of choice in rewards
Tech media company providing more
choice in compensation – allowing
employees the option to choose the
amount of salary they want to receive
in equity
focus on FUTURE
Digital career exploration
Software company providing
employees with a digital platform for
exploring career paths and identifying
jobs that match their skills and
interests
INCLUSIVE benefits
Enhanced reproductive benefits
Financial services company providing
fertility and surrogacy benefits to
enhance access of reproductive
benefits to same sex couples
more TRANSPARENCY
Radical transparency
Social media company publishes a
salary calculator on its website for
employees and candidates to access
culture of CARE
Health Centric Culture
Auto company Recruited a Chief
Medical Officer to create a sustainable
culture of health. Various health tools
are offered, including biometrics,
personal health reviews and family
health centers.
ENGAGING experiences
Experiences for Recognition
Tech company utilizes Blueboard to
recognize employees with curated
experiences such as sky diving,
cooking classes or weekend getaways
making it EASY
Finances at your fingertips
Retailer employees can get access to
an app (called Even) which allows
them to cash out early on a paycheck
and access financial budgeting tools
focus on FAMILY
Parental leave for all
Online retailer provides employees not
only with a generous time off, but a
ramp back program as well as a leave
share program to pay for a spouse
without paid leave
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