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The Changing Role of theCompensation ProfessionMay 22, 2012   A Research Initiative by the WorldatWork Compensation Adviso...
Panelists        Julie Griffin: VP Compensation, ConAgra Foods        J. Ritchie: Corporate VP Comp, Benefits & HR Opera...
Key research questions                What is the current focus of the compensation function in                           ...
Research focus                                           Variety of organization types                                    ...
Respondent profile         n=645 participants                      Profile by Organization Size                           ...
Theme 1: Compensation function focus                         Managing existing          83%                               ...
Theme 1: Compensation function focus (cont.)                    Streamlining the number of                         42%    ...
Theme 2: Reward communications                                                                      42%                   ...
Theme 3: Enabling the organization       Using HR business partners for primary         71%                             26...
Theme 4: Required skills and competencies          Improving skills of our staff to better    75%                         ...
Resources            Additional information on this subject can be found on the WorldatWork             website: www.worl...
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The Changing Role of the Compensation Profession

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Presented at WorldatWork 2012 by Hay Group's Tom McMullen, ConAgra Foods' Julie Griffin, Microsoft Corp's J. Ritchie, and Marriott Vacations Worldwide Corp's Cathy Peffen

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Transcript of "The Changing Role of the Compensation Profession"

  1. 1. The Changing Role of theCompensation ProfessionMay 22, 2012 A Research Initiative by the WorldatWork Compensation Advisory Board insert client logo
  2. 2. Panelists  Julie Griffin: VP Compensation, ConAgra Foods  J. Ritchie: Corporate VP Comp, Benefits & HR Operations, Microsoft Corp  Cathy Peffen: VP Global Comp & Benefits, Marriott Vacations Worldwide Corp  Tom McMullen: North American Reward Practice Leader, Hay Group© 2012 Hay Group. All rights reserved 2
  3. 3. Key research questions What is the current focus of the compensation function in today’s business environment? How will this focus change over the next two to three years? What are the implications on organization models, structures and staff profiles?© 2012 Hay Group. All rights reserved 3
  4. 4. Research focus Variety of organization types Range of organization size Senior level reward/HR respondent© 2012 Hay Group. All rights reserved 4
  5. 5. Respondent profile n=645 participants Profile by Organization Size Profile by Organization Type© 2012 Hay Group. All rights reserved 5
  6. 6. Theme 1: Compensation function focus Managing existing 83% 36% compensation programs 87% 36% 76% 46% Improving the functions 82% 69% value proposition to the business 84% 79% 78% 69%Using performance measures to assess 27% 63% the effectiveness of the function 38% 57% 27% 66% Delivering a variety of compensation 68% 53% programs to our employee population 72% 55% 54% 57% Creating unique, tailored 66% 64% solutions for the business 68% 68% 59% 60% 100% 80% 60% 40% 20% 0% 20% 40% 60% 80% 100% •All organizations Current Focus Greater Focus •Large organizations •Small organizations © 2012 Hay Group. All rights reserved 6
  7. 7. Theme 1: Compensation function focus (cont.) Streamlining the number of 42% 35% compensation programs in our 60% 44% organization 23% 31% Ensuring compensation strategy is 75% 43% 68% 49% consistent across the organization for 83% 33% most employees Ensuring compensation execution is 65% 48% 52% 56%consistent across the organization for most 68% 44% employees Ensuring compensation designs are 64% 46% consistent across the organization for 54% 51% 72% 41% most employees Reducing our compensation 17% 15% function’s staffing and cost 25% 23% 17% 17% 100% 80% 60% 40% 20% 0% 20% 40% 60% 80% 100% •All organizations Current Focus Greater Focus •Large organizations •Small organizations  © 2012 Hay Group. All rights reserved 7
  8. 8. Theme 2: Reward communications 42% 35% Seeking feedback from internal 71% 48% business customers and employees 23% 31% Improving content and frequency of 75% 43% compensation-related communications 54% 52% 83% 33% 34% 62% Using a variety of digital communications to 46% 60%connect with employees about compensation 68% 67% 0% Communicating the value of 64% 71% total rewards to line managers 24% 71% 31% 66% Communicating the value of 17% 15% total rewards to employees 25% 23% 17% 74% •All organizations 100% 50% 0% 50% 100% •Large organizations Current Focus Greater Focus •Small organizations  © 2012 Hay Group. All rights reserved 8
  9. 9. Theme 3: Enabling the organization Using HR business partners for primary 71% 26% 79% 29%customer support around compensation matters 54% 21% Compensation function is focused on educating 65% 68% and enabling managers regarding programs 63% 62% 68% 59% 0% 43% 42%People managers have a direct accountability for 46% 39% compensation program implementation 39% 44% 42% 55% Compensation function is focused on educating 38% 39% and enabling employees regarding programs 51% 56% •All organizations 100% 50% 0% 50% 100% •Large organizations •Small organizations  Current Focus Greater Focus © 2012 Hay Group. All rights reserved 9
  10. 10. Theme 4: Required skills and competencies Improving skills of our staff to better 75% 47% 74% 54% serve the changing business 70% 35%Moving toward a team of professionals with 53% 34%broad areas of responsibility and skill sets. 51% 40% 50% 24% Restructuring to better serve 48% 42% the changing business 49% 34% 49% 44% Moving toward a team of professionals 30% 21% with specific responsibilities and skill sets 45% 27% 14% 16% •All organizations 100% 50% 0% 50% 100% •Large organizations •Small organizations  Current Focus Greater Focus© 2012 Hay Group. All rights reserved 10
  11. 11. Resources  Additional information on this subject can be found on the WorldatWork website: www.worldatwork.org  The perfect way to sharpen your skills, stay connected and be proactive in your career development.  For instance, did you know that WorldatWork offers personalized Career Coaching? More than a good friend when it comes to career advice© 2012 Hay Group. All rights reserved 11
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