By: Diana Real
 
Pay- For- Performance: The Evidence <ul><li>Based-paid strategy </li></ul><ul><li>Pay is aligned to a competitive basis </...
<ul><li>The Company set goals that employees have to achieve = Incentives </li></ul><ul><li>Develop skills according to Li...
By: Teresa Casey
Performance Evaluations and Merit Increases <ul><li>Support overall business strategy </li></ul><ul><li>Performance Evalua...
Incentives <ul><li>Increase productivity </li></ul><ul><li>Annual bonuses </li></ul><ul><li>Sales incentives </li></ul><ul...
Stephanie Repaci
Liberty Power and Performance Appraisals <ul><li>Conducted bi-annually </li></ul><ul><li>Performed by immediate supervisor...
The 90-Day Review <ul><li>“ The first 90 days are more critical than an employee’s first two years. If you can get a new h...
Michelle Mckoy Brown
1. What are your benefits and how important are they to the organization? Liberty Power - Benefit Plan Descriptions Benefi...
2. How do you communicate the true value of your benefits package to new employees?
3. What is the average additional cost of an employee compensation package?
4. How does LP keep up with benefit laws across the various states? <ul><li>A PEO serves as an HR department, providing:  ...
5. How does LP keep up with benefit laws across the various states?
Michelle Mckoy Brown
<ul><li>List benefit options </li></ul>
<ul><li>What benefits options are available to part time employees? </li></ul><ul><li>What is the most farfetched benefit ...
Yula Rhone
Compensation for Special Groups <ul><li>Who are Special Groups and what makes them so special? </li></ul><ul><li>Justifica...
Compensation for Special Groups <ul><li>Linking sales compensation to customer satisfaction metrics </li></ul><ul><li>Fina...
Stephanie Repaci
Liberty Power on Labor Unions <ul><li>Reasons why there is no need for a union at the company: </li></ul><ul><ul><li>Small...
Alternatives to Unionization <ul><li>Negotiating compensation: </li></ul><ul><ul><li>Hiring process and salary range </li>...
Diana Real
International Pay Systems
By: Teresa Casey
Government Regulations that Impact Liberty Power <ul><li>Immigration laws </li></ul><ul><li>FLSA </li></ul><ul><li>Discrim...
Yula Rhone
Making Compensation Work at Liberty Power <ul><li>Important factors in managing labor costs </li></ul><ul><li>How Liberty ...
Making Compensation Work at Liberty Power <ul><li>The role of pay in organizational restructuring </li></ul><ul><li>Compen...
 
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Liberty power -final_ppt

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Liberty power -final_ppt

  1. 2. By: Diana Real
  2. 4. Pay- For- Performance: The Evidence <ul><li>Based-paid strategy </li></ul><ul><li>Pay is aligned to a competitive basis </li></ul><ul><li>The objective: develop a more comprehensive compensation plan </li></ul>Liberty Power Strategic Objectives
  3. 5. <ul><li>The Company set goals that employees have to achieve = Incentives </li></ul><ul><li>Develop skills according to Liberty Power Strategic plan- Talent- Best employees- Liberty Power Team </li></ul><ul><li>Reduce Turnover: Pay employees competitively, keep good employees, and give them the opportunity to grow </li></ul>
  4. 6. By: Teresa Casey
  5. 7. Performance Evaluations and Merit Increases <ul><li>Support overall business strategy </li></ul><ul><li>Performance Evaluations </li></ul><ul><li>Merit Pay </li></ul>
  6. 8. Incentives <ul><li>Increase productivity </li></ul><ul><li>Annual bonuses </li></ul><ul><li>Sales incentives </li></ul><ul><li>Spot plan </li></ul><ul><li>Social events </li></ul>
  7. 9. Stephanie Repaci
  8. 10. Liberty Power and Performance Appraisals <ul><li>Conducted bi-annually </li></ul><ul><li>Performed by immediate supervisor </li></ul><ul><ul><li>Training required (for manager and employee) </li></ul></ul><ul><ul><li>In the future: 360 degree feedback </li></ul></ul><ul><li>Metrics used: </li></ul><ul><ul><li>Individual/company goals </li></ul></ul><ul><ul><li>Professional skills </li></ul></ul><ul><ul><li>Company-assigned attributes </li></ul></ul><ul><ul><li>High-performing employees </li></ul></ul>
  9. 11. The 90-Day Review <ul><li>“ The first 90 days are more critical than an employee’s first two years. If you can get a new hire to learn the most during that time period, then he/she will be most successful.” </li></ul><ul><li>30-60-90 approach </li></ul><ul><ul><li>Are you in the right role? </li></ul></ul><ul><ul><li>Do you belong? </li></ul></ul><ul><ul><ul><li>Hungry, humble and smart </li></ul></ul></ul>
  10. 12. Michelle Mckoy Brown
  11. 13. 1. What are your benefits and how important are they to the organization? Liberty Power - Benefit Plan Descriptions Benefit Plans Descriptions Medical United Healthcare - PPO options are based on deductibles of 500, 1,500 or 3,000. Liberty pays 100% of premiums for all levels of 1500 plan. Liberty supplements 500 and 3,000 plans. Dental United Healthcare - PPO dental plan is included in the medical benefit plan at no additional cost Vision Vision Service Plan - Vision plan is included in medical benefit plan at no additional cost Life & Personal Accident Insurance Cigna Life and Personal Accident insurance 1 X salary up to $50,000 is included with medical plan at no additional cost. 401k Plan American Funds - Liberty pays $ for $ up to 4% of employee's contributions. Employees are 100% vested upon hire. Training & Development Online and in-house training courses available to all employees. Online training is available 24/7 via a web-based training portal. Holidays 10 paid holidays per year Vacation Days 2 weeks accrued vacation per year Personal Days 2 days accrued personal time per year Sick Days 5 days accrued sick time per year Employee Assistance Program Confidential counseling and support program for employees and their families. Voluntary Life & Personal Accident Insurance Employee paid Voluntary Life & Personal Accident Insurance for employee and dependents. Voluntary Basic STD & LTD Employee paid STD and LTD benefits through Cigna. *Note - All benefits available upon date of hire
  12. 14. 2. How do you communicate the true value of your benefits package to new employees?
  13. 15. 3. What is the average additional cost of an employee compensation package?
  14. 16. 4. How does LP keep up with benefit laws across the various states? <ul><li>A PEO serves as an HR department, providing: Employment Administration Relief </li></ul><ul><li>Quality Employee Benefits </li></ul><ul><li>Employer Liability Management Services </li></ul><ul><li>Productivity Improvement Resources </li></ul><ul><li>The Co-Employment Relationship Your company enters into an agreement with the PEO to establish a three-way relationship between you, your employees and the PEO. You and the PEO become co-employers, instead of the traditional employer company/employee relationship. </li></ul>
  15. 17. 5. How does LP keep up with benefit laws across the various states?
  16. 18. Michelle Mckoy Brown
  17. 19. <ul><li>List benefit options </li></ul>
  18. 20. <ul><li>What benefits options are available to part time employees? </li></ul><ul><li>What is the most farfetched benefit you would love to offer, but the company won’t allow? </li></ul><ul><li>As a fast growing company, how often do you review the LP benefits? </li></ul>
  19. 21. Yula Rhone
  20. 22. Compensation for Special Groups <ul><li>Who are Special Groups and what makes them so special? </li></ul><ul><li>Justification for unique compensation of Special Groups </li></ul><ul><ul><li>levels of pay at Liberty Power </li></ul></ul><ul><li>Executive Pay-for Performance </li></ul>
  21. 23. Compensation for Special Groups <ul><li>Linking sales compensation to customer satisfaction metrics </li></ul><ul><li>Financial Reform Legislation </li></ul><ul><ul><li>shareholder influence on executive pay </li></ul></ul><ul><ul><li>government influence on executive pay </li></ul></ul>
  22. 24. Stephanie Repaci
  23. 25. Liberty Power on Labor Unions <ul><li>Reasons why there is no need for a union at the company: </li></ul><ul><ul><li>Small organization; no big pockets of employee subsets </li></ul></ul><ul><ul><li>Existing laws and regulations regarding compensation of employees and employee rights </li></ul></ul><ul><ul><li>Time and place for unionization has passed </li></ul></ul>
  24. 26. Alternatives to Unionization <ul><li>Negotiating compensation: </li></ul><ul><ul><li>Hiring process and salary range </li></ul></ul><ul><ul><li>Promotions </li></ul></ul><ul><ul><li>Federal guidelines for salary administration </li></ul></ul><ul><li>Job security: </li></ul><ul><ul><li>Grievance procedures </li></ul></ul><ul><ul><li>Open door policy of HR </li></ul></ul><ul><ul><li>Outside representation </li></ul></ul>
  25. 27. Diana Real
  26. 28. International Pay Systems
  27. 29. By: Teresa Casey
  28. 30. Government Regulations that Impact Liberty Power <ul><li>Immigration laws </li></ul><ul><li>FLSA </li></ul><ul><li>Discrimination laws </li></ul>
  29. 31. Yula Rhone
  30. 32. Making Compensation Work at Liberty Power <ul><li>Important factors in managing labor costs </li></ul><ul><li>How Liberty Power manages cost of labor </li></ul><ul><li>Importance of compensation function </li></ul><ul><li>Using compensation as a competitive advantage </li></ul>
  31. 33. Making Compensation Work at Liberty Power <ul><li>The role of pay in organizational restructuring </li></ul><ul><li>Compensation: Expense or Investment? </li></ul><ul><li>Most effective controls to manage compensation process </li></ul>

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