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Reward Directors' Circle in Munich

Reward Directors' Circle in Munich

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Tobias Stenzel #FJNews

Frazer Jones Germany held its second Reward Directors’ Circle on the 15th October 2015. The event took place in the Bayerischer Hof in Munich. Philipp Bastian, HR Director at Fiskars, was our speaker who chose global harmonisation as a topic. 
 
Philipp is responsible for the global development and implementation of Compensation and Benefits strategies and the development of global HCM IT systems at Fiskars, a publicly-traded SME with more than €1 billion turnover and approximately 8,800 employees. The company is one of the most respected employers in Finland with products in the field of gardening and household tools. 
 
Philipp spoke about current challenges that global harmonisation presents to companies and how Fiskars approaches these issues. Fiskars follows the approach of introducing global harmonisation through the creation of frameworks for global structures. This allows both a standard to be created as well as a degree of flexibility for individual countries. 
 
Philipp’s presentation was tailored to a wide audience. He offered the listeners ideas and measures of Fiskars to successfully implement changes in the field of Compensation and Benefits, particularly with respect to global harmonisation. A major challenge here is the transition from a decentralised to a centralised function in the field of HR. The challenges concern particularly the definition of processes on management level, as these are, with a few exceptions, often more clearly defined on the non-managerial levels. 
 
A harmonisation is also accompanied by cultural change. To achieve this, it is pertinent to bring people on board who are open to change and do not hold on to bad habits just because the processes are known. Employees who are open to continuous personal development, tend to be more willing to adapt to changes. To include employees’ views a staff survey was conducted at this point amongst other things. 
 
One of the trends that Philipp observed is that companies currently question which benefits are of importance to their employees. At Frazer Jones we can confirm this trend as employee retention is becoming increasingly important. This is a very timely topic in an ever increasing time of rapid change, which also affects the moving around of specialists and executives.
 
Throughout the presentation the immense pertinence of understanding ones company, including its goals and target audiences well became increasingly clear. This is especially true when it comes to successfully introduce and implement new processes.