The Important of Rewards Strategy Bank Muamalat’s Experience
Thougth and Case for Discussion Bandung, 8 December 2017
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Rewarding means motivating
Organizations want to understand the following: How do we motivate employees to give discretionary effort so we can improve performance and earn profit
Answer: It differs by individual. It’s multi-faceted. 2
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A classic motivation theory: Maslow’s hierarchy of needs
Personal Development
Self actualisation Job satisfaction, contributions Esteem Status, career, recognition
Growth
Belonging Family, friends, work colleagues
Implication: unsatisfied need drives motivation So what does this mean for Reward Management?
Safety Order, law, job security
Basic
Biological Food, water, basic compensation 3
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Apakah yang dicari karyawan dalam memilih perusahaan/profesi? UNIVERSUM – Boutique HR’s consultant focus on employer branding
AON – Survey to BMI’s employee SURVEY PERIOD July 7th – July 21st
RESPONSE RAT E 94% Response Rate 4533 Invitees 4247 Respondents
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Most attractive companies di Indonesia adalah terkait dengan culture/greater cause Bank Lokal lebih diminati! Bank
Perusahaan 1
Bank Indonesia
2
Kemenkeu
Overal
1
BNI
13
2
Bank Mandiri
14
3
Bank BCA
16
4
Bank BRI
19
5
Bank Muamalat
35
6
Citibank
61
3
Pertamina
4
OJK
7
JP Morgan
70
5
Unilever
8
Standchart
74
9
HSBC
80
10
Bank CIMB
81
11
Bank BTPN
86
12
Maybank
92
13
OCBC NISP
99
5
Most attractive companies Industry Migas dan Tambang Indonesia Bank
Overal
1
Pertamina
3
2
Freeport
20
3
Chevron
22
4
Perusahaan Gas Negara
27
5
Aneka Tambang
40
6
British Petrolium
62
7
Exxon Mobil
66
8
Conoco Philips
77
9
Slumberger
79
10
Total E&P
93
Mostly Perusahaan Nasional di 5 Besar
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Hence Rewards Strategy is to ensure optimalisation of all rewarding/motivation drivers… -
Base Pay Benefits Allowances Retirement Health Care Life & Disability (insurance) - Wellness Initiatives - Time Off (leave) - Other Welfare Benefit
““A total rewards approach gives employers the tools to view their labor cost expenditures holistically and determine how to channel them in optimal ways.”
Performance Foundational Based Rewards Rewards TOTAL REWARDS
Environmental Rewards
Employee Value Proposition
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Base-Pay Increment Performance Bonuses Short-term incentives Long-term incentives
- Recognition programs - Training & Development - Flexible work programs - Work/life balance programs - Corporate Social Responsibility - Well-being program
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Solid Simple PMS Max 3-5 KPI as Most Important Goals (MIG) (with minimum weight per item 15%)
System is allow min 5% of weighted per KPI with no limitation of #KPI
Each BSC perspective must be fulfilled (mandatory)
Review/ performance discussion held in Mid & Year End
Each MIG shall have max 3 leads indicator (Key Results)
Old
New Each BSC perspective will still be use as reference but not as mandatory to be fulfilled
Coaching & feedback run at periodically period
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Strenghtening “MUMALAT IDEAL� as value proposition
1. Karyawan yang islami, menjaga integritas, mempunyai standard tinggi, menghindari konflik kepentingan dan membangun trust
2. Karyawan yang modern, rendah hati, terbuka dengan perspektif baru serta berani mengambil keputusan yang inovatif dan solutif
3. Karyawan yang professional, yang selalu belajar dan meningkatkan kemampuan, serta bekerja dengan memberikan yang terbaik
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Promoting creative learning to instill culture and more sustainable learning methode
• • • •
Bedah sop / policy / product Inspirasi / motivasi Games / team building Fun Learning Activity
• e-Module • PUB ( program ujian berkala) • Exam online • Video conference
• Update market/ industri • Business outlook
• Corporate Information Management • Public access • Buletin learning • “Bedah Buku”
• Performance monitoring and strategy • Sharing session • BOD branch visit
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Recognition program
Spot Recognition
Recognition Award
Award & Appreciation
Branch Performance Award
“Recognition is the greatest MOTIVATOR”
Objective To rewards, motivate, and engage with high performer employees To pursues culture where employees consciously appreciate each other achievement and build a positive and competitive environment that leads to build high performance culture.
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Role of strong people manager is critital in engaging employee
Manager is Treasurer
1. Manager to understand HR programs 2. Able to play the role in coaching and feedback 3. Action/follow up on engagement survey result
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Perusahaan memerlukan karyawan yang engaged dan produktif untuk mencapai target-target nya… Engagement merupakan engine untuk terbang….
Employee Engagement
Leadership Quality
Say positive Stay longer Strive excellent
Rewards Programs
HC Technology and Delivery
Quality and Productivity Product quality Efficient process Customer experience
Financial Performance Overall financing growth Islamic business growth Bad bank settlement
… dan Komprehensif Rewards mempunyai peran kritikal untuk memacu motivasi karyawan
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THANK YOU Awaldi, Human Capital Director Bank Muamalat
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