{"id":989,"date":"2009-03-02T01:00:15","date_gmt":"2009-03-02T09:00:15","guid":{"rendered":"https:\/\/systematichr.com\/?p=989"},"modified":"2009-01-11T19:08:28","modified_gmt":"2009-01-12T03:08:28","slug":"most-admired","status":"publish","type":"post","link":"https:\/\/systematichr.com\/?p=989","title":{"rendered":"Most Admired?"},"content":{"rendered":"

Hay Group presented the findings from an exclusive HR-specific recalibration of Fortune magazine\u2019s Most Admired Companies rankings, as well as key business practices that distinguish these companies from their competitors.<\/p>\n

For more than 10 years, Hay Group has partnered with Fortune magazine annually to identify the Most Admired Companies and the business practices that make them great. In an exclusive arrangement with Human Resource Executive\u00ae that’s now in its fourth year, Hay Group has analyzed the Fortune data and identified 50 companies that are the most admired when it comes to HR practices and key attributes they share.<\/p><\/blockquote>\n

You can download the report here<\/a>.<\/p>\n

Hmmmm\u2026\u00a0 I was honestly a bit disappointed.\u00a0 If this is an HR recalibration, then Hay needs a better understanding of HR.\u00a0 It is distinctly compensation and rewards focused.\u00a0 After all, if we are looking at the most admired companies whose average stock performance is much better than the norm, we\u2019d like to think that there are distinct differences in both employee engagement and talent management, and that these two factors are the true drivers of performance, not simply rewards.\u00a0 In fact, I\u2019d go so far to say that rewards is quite peripheral to the performance and admiration equation, but that\u2019s just my opinion.<\/p>\n

Then you get to some stuff where I really just wonder how Hay did the survey.\u00a0 Looking at the slide where they discuss performance measures, and only 11% of the peer group agrees that their performance measures are realistic and achievable leads me to think that there is a problem with their survey tool.\u00a0 If I\u2019m the consultant looking at these results, I\u2019d go back to the data and the survey and find out exactly how the results were calculated and see if there was a problem with the interpretation of the data or if I had cut the data in a particular way to introduce some sort of skewing or bias.<\/p>\n

That said, I am a firm believer that every opinion, statistic and trend line has some basis in truth.\u00a0 Even though I don\u2019t know what the methodology was, I don\u2019t agree with the narrow breadth of what they looked at, and the numbers look strange to me, there are some very compelling messages here.\u00a0 The connection between effective rewards programs and rewards communications can\u2019t be denied.\u00a0 Rewards communications are where employee engagement to incentive objectives occurs.\u00a0 Too many organizations simply roll out their incentive programs without anywhere near the necessary communications and change management to make the incentive program successful.\u00a0 Regarding total reward statements, Bruce Lasko of the Hay group states:<\/p>\n

Surprisingly it’s not the value. It’s the communication. We’ve spent hundreds of millions on providing benefits that employees didn’t value, understand or even know existed. Regularly communicating the \u2018total value\u2019\u2026significantly improved the effectiveness of our rewards programs.<\/p>\n

So perhaps we don\u2019t have a good idea of what HR programs impact performance and \u201cadmiration\u201d based on this report, but we can say that incentives that are strategically aligned and effectively communicated are the ones that are successful.\u00a0 We can also surmise from anecdotal data that what really makes a difference in performance is not compensation and rewards, but ultimately talent development, growth opportunities, and overall performance management.<\/p>\n","protected":false},"excerpt":{"rendered":"

Hay Group presented the findings from an exclusive HR-specific recalibration of Fortune magazine\u2019s Most Admired Companies rankings, as well as key business practices that distinguish these companies from their competitors. For more than 10 years, Hay Group has partnered with…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","footnotes":""},"categories":[10,8,11],"tags":[],"class_list":["post-989","post","type-post","status-publish","format-standard","hentry","category-engagement","category-strategies","category-service-delivery"],"_links":{"self":[{"href":"https:\/\/systematichr.com\/index.php?rest_route=\/wp\/v2\/posts\/989","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/systematichr.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/systematichr.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/systematichr.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/systematichr.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=989"}],"version-history":[{"count":1,"href":"https:\/\/systematichr.com\/index.php?rest_route=\/wp\/v2\/posts\/989\/revisions"}],"predecessor-version":[{"id":990,"href":"https:\/\/systematichr.com\/index.php?rest_route=\/wp\/v2\/posts\/989\/revisions\/990"}],"wp:attachment":[{"href":"https:\/\/systematichr.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=989"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/systematichr.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=989"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/systematichr.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=989"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}