Total Reward Statement Evolution Pam Schmidt, Manager Retirement Plans, Target Tom Staroszczyk, Total Rewards Portal Leader, Aon Hewitt.

Slides:



Advertisements
Similar presentations
Your Portal Web Site: The Ideal Relationship Builder Peter Petras Planet Direct Corporation
Advertisements

Future Marketing Strategy Beth Evarts. What is Marketing? ( Wikipedia ) Marketing is the process which creates communicates delivers the value to the.
Which server is right for you? Get in Contact with us
Thought Leadership Portals: Drive for Transparency NAW Large Company Technology Networking Conference June 17, 2008 NAW Large Company Technology Networking.
Copyright © Impact Technologies Group, Inc. | All Rights Reserved | | Ph:
Wolters Kluwer A Global Company Performs on the World Stage Nancy McKinstry Chief Executive Officer and Chairman of the Board of Wolters Kluwer.
PMO Services RFP Overview Patty Fontneau ED and CEO.
The Power of Industry-Specific Business Media. 2 Entire contents © 2007 Forrester Research, Inc. All rights reserved. Overview ABM engaged Forrester Consulting.
1 Three Key Strategies Rex Briggs, Principal Marketing Evolution
1. Failure is when users do not feel they get what they paid for. 2. Failure is when the overall organization fails to adopt the solution.
1 Meeting the Reporting Challenges at International Paper.
1. 2 Improving the Guest and On-the-Go with Oracle Commerce.
The Power of and Social Media Marketing to Boost your Business presented by:
Charlene Li Research Director Forrester Research NET Board Presentation.
Buyer Advertising & UMass Boston Navigating the Changing Landscape of Recruitment Communications Presented to: November 18, 2014.
The Key to Sustaining Membership Friday, February 24, 2012 Phyllis Shurn-Hannah, NE Regional FSD Regional Council Summit February 24 – 25, 2012 Grapevine,
BRANDS, BRAINS AND BENEFITS YOUR PARTNERSHIP WITH WCC SEPTEMBER 1, 2011.
Copyright © 2008 Pearson Education Canada Human Resources Management and Technology (by Julie Bulmash) Dessler & Cole Human Resources Management in Canada.
YELLOWPAGES.COM. Privileged and Confidential2 (New Results Page) Where consumers go on the Web when they “need something” local… Need something? sm.
Socialize Your Brand & Connect With Real People Social Media Optimization.
Building profitable customer loyalty
Community Criteria People Criteria Process Criteria Culture Criteria
© 2009 IBM Corporation Smart Grid Research Consortium Customer Operations Transformation Global E&U Industry January 2011.
Bayt.com’s Virtual Job Fair - Pakistan August 12 th -14 th, 2015.
Customer Enrollment: The Gateway to Electronic Billing Benefits Utility Payment Conference.
Marketing Management Online marketing
Where USERS Make the Difference! Peer to Peer | Greater Scale | More Voices | Faster How to Personalize the Role Tailored Client – What you.
Nobody’s Unpredictable Ipsos Portals. © 2009 Ipsos Agenda 2 Knowledge Manager Archway Summary Portal Definition & Benefits.
The Eyeblaster ACM Advertising Campaign Management.
CAIS Boarding Schools │ BRAND V: 1.0 October 13, 2011.
3. What business ? Most Compelling Investment? One Effective Way to Lead in the Mid Market.
1 MSL Review Meeting. 2 Introductions Benefits of a new Directorate Challenges this year What we’re doing to underpin the challenges Our initial thoughts.
The Future of Tour Operations On-Line. Market Resistance  “6 nights is not sexy” However:  “Tour Operators and Travel Agents need to provide products.
Internet Fundraising and Member Services for Public Television.
Capture the Movement: Banner 7.0 and Beyond Susan LaCour, Senior Vice President, Solutions Development California Community Colleges Banner Group.
9-1 Chapter 9 The Internet.
Changing How Our Children Grow Up in America. Supporting Staff Development and Retention with a New BBBS Learning Center.
Corporate Social Responsibility LECTURE 25: Corporate Social Responsibility MGT
In 8 Minutes SocialSimple Personalize Your Web Through Social Networking.
Copying distribution or use of the contents of this document is prohibited without written authorization from SafeHarbor Technology Corporation. Maximizing.
Last Updated 1/17/02 1 Business Drivers Guiding Portal Evolution Portals Integrate web-based systems to increase productivity and reduce.
ABC Company Introducing Our Expanded Client Services Platform insert contact info.
Improving Quality… Enhancing Care… Increasing Productivity… © 2015 Advix Your Best Value Total Solution
Introduction We are India's leading directional media marketing company enabling SME discovery. Pioneers in discovery of platforms across B2B,B2C & C2C.
Impact Research 1 Enabling Decision Making Through Business Intelligence: Preview of Report.
Recruiting Solutions v v Human Capital Symposium October 26, 2011 The Challenges of Hyper Growth.
Achieving Significant Cost Savings Utilizing Best Practices Member Engagement and Provider Collaboration April 30, 2014.
Voluntary Benefits A solution for employees and employers Cobbs Allen and Cobbs Allen.
Microsoft Customer Care -Knowledge -Customer Experience -Channel Growth -Unified Service Desk -Platform -Case Management -Product Synergy -Scalability.
2. 3 A New Unified & Comprehensive NC School Jobs.
SaaS or a Customized Solution: Which is right for your recognition program?
Learning from the Mistakes of Others How not to structure, run or design an equity plan October 5, 2012.
Management Mustangs Strategic Brand Management Module - 5.
Unifying Talent Management. Harnessing the Power of Workforce Intelligence in Talent Planning to Drive Business Performance.
0 1 Canada Site Mandate Created in 1995 Single point of access to Government of Canada information and services on-line Lead and participate in horizontal.
People Inc. from P&A Software
WHY VIDEO SURVELLIANCE
Fragmented Services: 7+ Average number of health related vendors employees need to interact with. Lack Engagement: 57% of large employers say that a lack.
WHY VIDEO SURVELLIANCE
Learning as a Service Business Plan Template
Global Research on why companies find it hard to hire the right & competent talent
5 Strategies to Win Business and Stay Competitive
IBM Tivoli Web Site Analyzer Training Document
About the Client Challenges
INEOGroup presents:.
People Inc. from P&A Software
WHY VIDEO SURVELLIANCE
WHY VIDEO SURVELLIANCE
Presentation transcript:

Total Reward Statement Evolution Pam Schmidt, Manager Retirement Plans, Target Tom Staroszczyk, Total Rewards Portal Leader, Aon Hewitt

Agenda Target’s Total Rewards Journey My Pay and Benefits.com The Results The Future

.... from Paper to Portal Target's Total Rewards Journey

Overview of Target’s Journey Late 1990’s Internally Developed Paper Statements 2001 Outsourced Paper Statements 2006 Shifted To Online Statement 2010 Transitioned To Pay & Benefits Portal 2011 and Beyond Global Expansion

Target—Annual Paper Statements Began producing statements internally in late 90’s Transitioned to paper statements with Aon in 2001 Annual total rewards statements served as the singular place to provide the holistic snapshot of value Ensured that all employees received the total rewards message once a year Served as a record that could be filed and saved with other important documents

Industry—Annual Paper Statements Late 1990s Strong demand for printed total rewards statements Small few began implementing “Custom” online total rewards solutions Online solutions were very expensive Early 2000s More cost effective online total rewards platform were created - designed for efficiency, yet highly customized for each client. Concept intrigued many clients but access to the internet was an important issue

Target—Shift from paper to online In 2006, began providing paper & online statements through local vendor, Universal Data Corporation (UDC) Available 24/7—current data, seamless action taking, interactive, provides immediate feedback Personalized for each unique audience—execs, salaried, hourly Expansion beyond today’s annual total rewards—Retirement Income, Equity Growth, Wealth Accumulation, Survivor Income Interactive modeling to help employees maximize value Required constant promotion to maintain consistent good site usage

Industry—Shift from paper to online Mid 2000s Online access becoming less of an issue Demand for online total rewards solutions growing Clients needs varied requiring different versions of online solutions: Communicate the value of the hidden paycheck Help employees understand the mechanics of specific rewards programs so they can take full advantage of what is being offered and maximize their opportunities Mid to Late 2000s Clients demanded more flexible solutions - more personalization, targeted messaging, and seamless integration with 3 rd parties Communicating the total value of the job offer to candidates also became important. Companies wanted to differentiate their job offers to attract the right talent to meet their business needs.

Target—One Stop Total Rewards Portal In early Jan. 2010, created benefits portal to include transactional and informational data on all pay & benefits Simplify the user experience for team members—one password, one url, SSO to 3 rd parties, consistent branding Gain more traction for total rewards Any time they manage their 401(k) or other benefits Every year during Benefits Open Enrollment Driving behavior change through targeted messaging Economies when working with one vendor—administration & portal

Industry—Total Rewards Portal Late 2000s – usage for online total rewards solutions varied – despite heavy promotion, many companies struggled to achieve consistent usage Online access higher than ever, yet employees were easily confused with too many places to find information Generic communications found not as effective as personalized More personalized communications became a critical component to reaching employees Clients wanted a customizable and flexible communication platform, that could simplify the user experience for employees and drive behavior changes through more targeted messaging By including Total Rewards in this One Stop Shop solution, clients found they could gain more traction for total rewards

Integrated Total Rewards Personalized Announcements Easy Access to Key Data Simple and Intuitive Navigation

Personalized Communication Platform Take Charge You Have Options An Ounce of Prevention Right Choices Incentive Plan

Personalized Communication Platform Take Charge You Have Options An Ounce of Prevention Right Choices Incentive Plan

Personalized Communication Platform Take Charge You Have Options An Ounce of Prevention Right Choices Incentive Plan

Personalized Communication Platform Take Charge You Have Options An Ounce of Prevention Right Choices Incentive Plan

Personalized Communication Platform Take Charge You Have Options An Ounce of Prevention Right Choices Incentive Plan

My Pay tab:

My Benefits & Retirement tab:

My Discounts, Perks & Time Off tab:

My Stock Grants tab:

Increased Team Member Engagement Annual Best Team Survey feedback improved 2008 favorability 2009 favorability 2010 favorability Significantly increased usage

Comparing Usage In 2007, 33,000 unique team members visited the old Web site 109,000 unique IDs visited during 2008 Over 200,000 visits in first two months after portal rolled out in January, 2010 Over 2 million hits during all of 2010

Continuous Improvement Living, breathing real-time portal Monthly content & data refreshes Added Quick Links section Global Expansion

Target - India Strategy About 6 months post-live date, made available for ~1,200 Target India team members Significant customization for different pay, benefits, and currency Kudos for providing what U.S. based employees can access on the site Industry - Global Interest Focus on largest employee concentrations Consider between one or multiple applications

What’s Next?

As the economy improves, the workforce will be on the move Differentiating your job offer will be critical to attracting key talent Candidate solutions must be seamlessly integrated with applicant tracking systems to keep it simple for recruiters Total Value Of The Job Offer

Changing employee behaviors requires different techniques Personalization is playing a large role The Debate: How Personal Do You Get? Slow growing trend to get more personal – leveraging key personal health information to drive more targeted messaging The Personalization Spectrum Impact Behavior Change Awareness Communication Techniques Changes in behavior can maximize value of reward programs for both company and employee Get employees to see the value Get employees to increase the value

Additional Thoughts Leverage Technology — To eliminate redundancy and improve integration. Consume established modules through portlet technology to eliminate clicks and provide more accurate results More Interactivity—User Defined Regions—Clients and employees can choose, expand, collapse, and move relevant modules Social Media—Helping gain employee interest and participation in key initiatives—ex: wellness programs Secure Family Member Access—To enable better education and decision making Find Information Easier— Through the use of a personalized and searchable knowledgebase. Allowing clients to further simplify the user experience and get employees answers to their questions faster