Ultimate Learning Event for

Employers & HR Peers

CHOOSING THE RIGHT BENEFITS FOR A

MULTIGENERATIONAL WORKFORCE

SPEAKERS: Ashley Palmer - Principal, Actuary, Aon Hewitt

Joel Rethore - Principal, Aon Hewitt 2016 Aon plc

Employee Benefits: Which camp are you in?

Calling all Executives

What Do We Know?
The 2016 Workforce Mindset Study

What drives benefit preferences?

Gender

Generation
Millennials
32%

Other Segments

Boomers +
35%

51%
Male

49%
Female

High performers

Gen Xers
33%

Engagement level

Insight #1: There are hygiene factors, but they are not
what we think
More Likely to be an Expectation

More Likely to be a Differentiator

Provides better than average pay

Provides better than average benefits
Is a fun place to work
Has a flexible work e nvironment
Is a strong fit with my values
Provides stimulating work
Is an innovative organization
Is financially successful or a market leader in areas in which it c ompetes

24%
22%
16%
14%
12%
6%
5%
3%

Encourages appropriate balance between work and personal life commitments

Is an organisation that e mpowers e mployees
Provides valuable c areer and/or development opportunities
Has strong leaders
Recognises strong individual achievement or performance
Has strong managers
Is e nvironmentally and socially responsible
Has a very positive reputation with customers/clients
Provides meaningful work
Has supportive and c apable employees
Encourages c ollaboration and teamwork
Provides valuable tools and resources including technology
Communicates e ffectively
-20%

-15%

2%
1%
0%
3%
4%
4%
5%
5%
6%
8%
11%
12%
17%
-10%

-5%

0%

5%

10%

15%

20%

25%

Insight #2: There are generational differences, but all

value benefits in some way

Millennials

Gen Xers

Boomers

Improve:
Balance between work and
personal commitments
Empowerment

Improve:
Career opportunities
Employee Benefits
Managers and Leaders

Improve:
Employee Benefits
Pay
Recognition

More likely to value:

Time-off
Flexibility
Career offerings
Well-being programs

More likely to value:

More likely to value:

Health
Retirement

Time-off

Time off

Time off

Insight #3: High performers and highly engaged

employees think about benefits differently
How Id Describe Everything My Employer Offers Me
All Respondents
The
Total Deal Other
2%
Rewards 3%
7%
Employee
Wellbeing
8%

At 4 3%, employees not

engaged tend to r elate
most to Pay & Benefits

Pay &
Benefits
35%

The
Experience
13%
Total
Compensation
13%

26% for e ngaged employees

versus 11% for not e ngaged

Total
Package
19%

23% for high

performers

Case Study: High performers recognise that they value

different things
Top three benefits mine vs others: high performers
My top three benefits

Others top three benefits

80%
61%

60%
48%
40%

50%

58%

55%

55%

58%

55% 56%

39%

36%

31%

20%

0%
Honorary Roadside
Assistance
Membership

NRMA Insurance

Best

Flexible working
arrangements

Honorary Roadside
Assistance
Membership

NRMA Insurance

Rest

Flexible working
arrangements

Insight #4: Communication is as important as what you offer;

keep things simple
Adequacy and Understanding of P ay and Employee Benefits (Strongly Agree or Agree)

Base Pay

Paid time off

Retirement & Health

Incentives
Recognition
Programs

Insurance

Flexibility
Worklife &
Wellbeing

Understand how to reach each generation

Millennials

Gen Xers

Boomers

Contribute to a greater
purpose, without
compromise

Create a balanced life

with time for family,
friends and self

Make the most of life with

financial security to enjoy
the good things

Value:
Authorship
Autonomy
Authenticity

Value:
Savvy
Diversity
Entrepreneurship

Value:
Individuality
Self-absorption
Youthfulness

What can you do?

4 Steps to success

Ask employees

Use fact-based insights

to support decision
making

Be clear about your

employee value
proposition

Communicate,
Communicate,
Communicate!

Case Study: You can assess how much value each

benefit adds, and to whom; less is definitely more
I would rather have an increase in base pay than
Agree
70%

59%

60%
50%
40%

Disagree

49%

51%

53%

47%

41%

30%
20%
10%
0%
having my top benefit

Value top benefit m ore

having my second top benefit

having my third top benefit

No e xtra value from benefit

Deficit in value from benefit

Path to a Best EmployerTM

Overall, this organisations benefit meets my (and my familys) needs well:

BEST

REST

Choosing the Right Benefits for a

Multigenerational Workforce

THANK YOU
Joel Rethore & Ashley Palmer
Aon

Bon Appetite

MITIGATING RISK AND CONSIDERING

COMPLIANCE THROUGH HR AUTOMATION

Speaker: Mark Harrison

Chief Risk Officer at Intech Credit Union

ABOUT INTECH

Intech is a mutual ADI whos vision is to be preferred

banking partner for the ICT community
Intech has over $300M of assets under management
28 staff across 2 states

MANAGING RISK IN A BUSINESS?

Common business risks include those posed by

Customers, Suppliers, Employees, Premises,
Competitors and The Market
Identifying and Assessing Risk and
Implementing Appropriate Controls
Hierarchy of Control Administrative vs.
Technological

WHAT ARE SOME OF THE

COMPLIANCE OBLIGATIONS WE
WANTED TO MITIGATE?
Ensure we met all our obligations relating to
relevant awards including minimum wages,
employee entitlements and benefits
Meeting all requirements relating to
termination and management of poor
performing staff and any misconduct
issues
Automating and streamlining record
keeping to ensure all documentation is
stored and retained appropriately

WHY DID WE NEED TO REVIEW

OUR CURRENT
ARRANGEMENTS?
Lacking experience to keep up with ever
changing employment legislation
We had 1.5 staff that could process payroll
(key person risk)
We had a previous in-house technology
solution that was not well supported (from
supplier management perspective)
Administrative controls were inadequate to
manage our employment risk

WHAT CONSIDERATIONS DID WE

NEED TO REVIEW WHEN
LOOKING AT RISK CONTROL
SOLUTIONS?
Ensuring we meet our compliance obligations
in relation to legislative requirements
Ensuring we are mitigating key person risk
Ensuring our data remains safe and secure at
all times to meet our privacy requirements
Ensuring that compliance tasks are
automated as far as practicable

WHAT ARE THE KEY OUTCOMES

FROM USING HR TECHNOLOGY?
Paperless Onboarding
Ensuring HR Documents have been drafted
by workplace lawyers and can be
acknowledged within the platform
Secure, cloud-based record keeping tool
that can be accessed anywhere
Compliance tasks are automated and
assigned to relevant people in the business
Performance management activities are
captured

WHAT ARE THE KEY OUTCOMES

FROM OUTSOURCING?
We now have a team of payroll specialists to
assist us with our ongoing payroll needs rather
than reliance on key members of the Intech
team.
Providing staff with a better HR experience by
giving them control of some functions, such as
leave management, through an online portal.
This reduces the time for our team and makes
us more efficient.
In-built Award interpretation for timesheets

KEY TAKEAWAYS

When managing risk in business, the level

of control implemented should reflect the
potential impact that such risks pose
Employment risks can create reputational
and financial risk for business
Technology controls are not out of reach for
SMEs solutions are accessible and
affordable!
Risk management is an ongoing process

MITIGATING RISK AND CONSIDERING

COMPLIANCE THROUGH HR AUTOMATION

THANK YOU
MARK HARRISON
INTECH

HOW THE PLATFORM ECONOMY

IS GOING TO DISRUPT HR

Speaker: Ben Thompson

CEO Employment Hero

TECHNOLOGICAL DISRUPTORS
FOR EMPLOYMENT

Robotics
Machine Learning
Digitisation
Automation
3D Printing
Virtual Reality (VR) & Augmented Reality (AR)

Approximately 60% of the worlds population (4

billion people) do not have access to the
internet...

Approximately 60% of the worlds population (4

billion people) do not have access to the
internet...

Making The Wheel

People & Culture
Engagement

Recruitment

Recognition Review
Process

Time &
Attendance

Payroll

Policies,
Benefits
Contracts
Award Compliance

HOW THE PLATFORM

ECONOMY WILL CHANGE HR

Digital platforms are multisided

digital frameworks that shape the
terms on which participants interact
with one another

PLATFORMS ARE PROVOKING THE REORGANIZATION OF

A WIDE VARIETY OF MARKETS, WORK ARRANGEMENTS,
AND ULTIMATELY VALUE CREATION AND CAPTURE

THE TESLA

HR As A Platform
Live Expertise

Constantly
Improving Tools

Constantly
Evolving
Contracts / IP

Live Benchmarked Data

Online
Microtraining

Employee Wellness

Smart
Recruitment

Specialist Labour

Personal Finance
& Payroll

BENEFITS FOR EMPLOYERS / HR

97%

Approximately 60% of the worlds population (4

billion people) do not have access to the
internet...

HOW THE PLATFORM

ECONOMY WILL CHANGE HR

THANK YOU
BEN THOMPSON
EMPLOYMENT HERO

Q&A
Tweet us your questions using #EHPowerLunch

Lucky Draw