The Role of Rewards in the “New Age” of Employee Empowerment. So where does compensation fit in this new engagement environment? Does it play any role? Some analysis suggests its impact is minimal. Other studies indicate it is a larger factor. To the extent attrition can be considered the antithesis of engagement, one might be confused by what seems to be conflicting data analyses among researchers regarding the influence compensation has on this much sought after quality in employees. If these are questions you are trying to answer, you should not miss this presentation.
Impact of Work from Home on Work Life Balance during Covid 19 Pandemicijtsrd
Every century has witnessed the pandemic and 21st Century has come across Corona virus disease which had broke in November 2019. Spread of this virus has shaken the entire world and has made an impact on every aspect of individual and business. This has forced governments to enforce lockdown and shut down the activities temporarily. It made a impact on every sector of the economy and some sectors like education, information technology, Medical, health, Consulting, Human resource management companies and many other who largely works with technology allowed their employees to work from home and every individual expected it to be a positive sign in their career but as the time passed it becomes difficult for every employee to create a proper balance between work and life as it was new to majority and took time to get along the same. Between family and working, the pandemic has significantly altered the way we live our lives and for millions this has meant a sudden shift to remote environment as authorities' emphases the importance of social distancing. This paper attempts to explore the work from home and describes its impact on work life balance during covid 19. The study is descriptive in nature and based on both primary data collected through structured questionnaire and secondary data obtained from news papers, journal and magazines. The main contribution of this work lies in assisting the employees in knowing the impact and understanding that with right priorities, proper transition, routine, effective communication, fair expectation a satisfactory work life balance can be enhanced. Mohammed Nawaz | Priya. U "Impact of Work from Home on Work Life Balance during Covid-19 Pandemic" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-6 , October 2021, URL: https://www.ijtsrd.com/papers/ijtsrd46457.pdf Paper URL : https://www.ijtsrd.com/management/hrm-and-retail-business/46457/impact-of-work-from-home-on-work-life-balance-during-covid19-pandemic/mohammed-nawaz
Impact of Work from Home on Work Life Balance during Covid 19 Pandemicijtsrd
Every century has witnessed the pandemic and 21st Century has come across Corona virus disease which had broke in November 2019. Spread of this virus has shaken the entire world and has made an impact on every aspect of individual and business. This has forced governments to enforce lockdown and shut down the activities temporarily. It made a impact on every sector of the economy and some sectors like education, information technology, Medical, health, Consulting, Human resource management companies and many other who largely works with technology allowed their employees to work from home and every individual expected it to be a positive sign in their career but as the time passed it becomes difficult for every employee to create a proper balance between work and life as it was new to majority and took time to get along the same. Between family and working, the pandemic has significantly altered the way we live our lives and for millions this has meant a sudden shift to remote environment as authorities' emphases the importance of social distancing. This paper attempts to explore the work from home and describes its impact on work life balance during covid 19. The study is descriptive in nature and based on both primary data collected through structured questionnaire and secondary data obtained from news papers, journal and magazines. The main contribution of this work lies in assisting the employees in knowing the impact and understanding that with right priorities, proper transition, routine, effective communication, fair expectation a satisfactory work life balance can be enhanced. Mohammed Nawaz | Priya. U "Impact of Work from Home on Work Life Balance during Covid-19 Pandemic" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-6 , October 2021, URL: https://www.ijtsrd.com/papers/ijtsrd46457.pdf Paper URL : https://www.ijtsrd.com/management/hrm-and-retail-business/46457/impact-of-work-from-home-on-work-life-balance-during-covid19-pandemic/mohammed-nawaz
Aligning your compensation philosophy with business prioritiesPayScale, Inc.
As an HR leader, you play a key role in your organization's success. It's crucial that you work with your company's executive leaders to develop a compensation strategy that supports company business objectives.
In this free, one hour webinar session, Stacey Carroll, SPHR, MBA will present the basics of leading an organization through the steps to align its compensation philosophy with its mission, and values. This webinar will give you a core understanding of the connection between business and compensation strategy.
Employee wellness programs, designed primarily to support physical health, have become a mainstay in overall benefit offerings. While certainly important, physical health is just one component enabling employees to function productively at work. A new trend has emerged in the area of Wellness. It’s called “Well-Being.” A state of Well-Being causes us to think more holistically about our employees’ health, and address not only physical wellness but overall well-being, including financial and mental well-being.
Paired comparison method of performance appraisalkianramirez765
In this file, you can ref useful information about paired comparison method of performance appraisal such as paired comparison method of performance appraisal methods, paired comparison method of performance appraisal tips, paired comparison method of performance appraisal forms, paired comparison method of performance appraisal phrases … If you need more assistant for paired comparison method of performance appraisal, please leave your comment at the end of file.
How to Build Pay Grades and Set Salary RangesShelley Reece
In today’s changing workforce, having a clearly defined career path is becoming critical for attracting and retaining top talent. Setting pay ranges and grades can give you a competitive advantage in an ever-changing market by enabling clear job progression as well as competitive pay. So how can you set your pay ranges just right?
Join PayScale’s compensation experts as they show you how to build ranges from a market-centered midpoint, and how to use market data to update or create market-based pay ranges.
Recording: https://www.humanresourcestoday.com/webinar-series/how-to-build-pay-grades-and-set-salary-ranges/
A STUDY ON EMPLOYEE JOB SATISFACTION IN BHARAT HEAVY ELECTRICALS LIMITED (BHE...IAEME Publication
Job satisfaction, a worker's sense of achievement and success, is generally perceived to be directly linked to productivity as well as to personal wellbeing. Job satisfaction implies doing a job one enjoys, doing it well, and being suitably rewarded for one's efforts. Job satisfaction further implies enthusiasm and happiness with one's work. Hence the project entitled “A Study On Employee Job Satisfaction In Bharat Heavy Electricals Limited (BHEL), Tiruchirappalli” was undertaken to know the satisfaction level of the employees working in this Organization. The sample size of 150 employees was considered. The data were collected from the employees and analyzes were undergone. In addition to that necessary suggestions were also given.
How to Build Pay Grades and Set Salary RangesPayScale, Inc.
In today’s changing workforce, having a clearly defined career path is becoming critical for attracting and retaining top talent. Setting pay ranges and grades can give you a competitive advantage in an ever-changing market by enabling clear job progression as well as competitive pay.
So how can you set your pay ranges just right?
In this webinar we show you how to build ranges from a market-centered midpoint, and how to use market data to update or create market-based pay ranges.
You’ll learn how to:
Build pay structures from the ground up
Choose benchmark positions and slot non-benchmark positions into your pay structure
Adjust and align your structure for special internal considerations
Create a strategy for dealing with “hot” jobs that fall outside of internal ranges
In this presentation, Mykkah Herner, a member of PayScale's compensation consulting team, will show you how to build ranges from a market-centered midpoint, and how to use market data to update or create market based pay ranges.
You’ll learn how to identify appropriate sources of market data, select an appropriate “market set” for utilizing market data, choose benchmark positions and slot non-benchmark positions into your pay structure, and create a strategy for dealing with “hot” jobs that fall outside of internal ranges.
Strategic role of compensation, strategic compensation policy, total compensa...Ramona Beharry
This PowerPoint deals with the Strategic role of compensation in the organization. States how you develop a total compensation strategy and also strategic compensation planning.
Shareholders and high performing employees need each other. Owners need growth enablers who can build the future company they envision. Key performers want to apply their unique abilities to a meaningful end that rewards them for value creation. So, how do you bring those two visions together in the way you construct rewards strategies? How do you pay crucial contributors in a way that improves shareholder value and makes owners feel good about the investment they are making in compensation? If these are questions you are trying to answer, you should not miss this!
The New Challengers: C3S – a new European collecting society
With the vision of becoming a modern European collecting society operating in every single European country and beyond, the Cultural Commons Collecting Society was created in 2010. Offering all rights reserved, Creative Commons, as well as licensing for semi-pro and home produced UGC, C3S acknowledges a variety of license types to enable individual strategies, for artists & businesses, as well as users as new creatives.
What effect on the market does the new competitive landscape have?
Wolfgang Senges, Executive Director, C3S - The Cultural Commons Collecting Society
Aligning your compensation philosophy with business prioritiesPayScale, Inc.
As an HR leader, you play a key role in your organization's success. It's crucial that you work with your company's executive leaders to develop a compensation strategy that supports company business objectives.
In this free, one hour webinar session, Stacey Carroll, SPHR, MBA will present the basics of leading an organization through the steps to align its compensation philosophy with its mission, and values. This webinar will give you a core understanding of the connection between business and compensation strategy.
Employee wellness programs, designed primarily to support physical health, have become a mainstay in overall benefit offerings. While certainly important, physical health is just one component enabling employees to function productively at work. A new trend has emerged in the area of Wellness. It’s called “Well-Being.” A state of Well-Being causes us to think more holistically about our employees’ health, and address not only physical wellness but overall well-being, including financial and mental well-being.
Paired comparison method of performance appraisalkianramirez765
In this file, you can ref useful information about paired comparison method of performance appraisal such as paired comparison method of performance appraisal methods, paired comparison method of performance appraisal tips, paired comparison method of performance appraisal forms, paired comparison method of performance appraisal phrases … If you need more assistant for paired comparison method of performance appraisal, please leave your comment at the end of file.
How to Build Pay Grades and Set Salary RangesShelley Reece
In today’s changing workforce, having a clearly defined career path is becoming critical for attracting and retaining top talent. Setting pay ranges and grades can give you a competitive advantage in an ever-changing market by enabling clear job progression as well as competitive pay. So how can you set your pay ranges just right?
Join PayScale’s compensation experts as they show you how to build ranges from a market-centered midpoint, and how to use market data to update or create market-based pay ranges.
Recording: https://www.humanresourcestoday.com/webinar-series/how-to-build-pay-grades-and-set-salary-ranges/
A STUDY ON EMPLOYEE JOB SATISFACTION IN BHARAT HEAVY ELECTRICALS LIMITED (BHE...IAEME Publication
Job satisfaction, a worker's sense of achievement and success, is generally perceived to be directly linked to productivity as well as to personal wellbeing. Job satisfaction implies doing a job one enjoys, doing it well, and being suitably rewarded for one's efforts. Job satisfaction further implies enthusiasm and happiness with one's work. Hence the project entitled “A Study On Employee Job Satisfaction In Bharat Heavy Electricals Limited (BHEL), Tiruchirappalli” was undertaken to know the satisfaction level of the employees working in this Organization. The sample size of 150 employees was considered. The data were collected from the employees and analyzes were undergone. In addition to that necessary suggestions were also given.
How to Build Pay Grades and Set Salary RangesPayScale, Inc.
In today’s changing workforce, having a clearly defined career path is becoming critical for attracting and retaining top talent. Setting pay ranges and grades can give you a competitive advantage in an ever-changing market by enabling clear job progression as well as competitive pay.
So how can you set your pay ranges just right?
In this webinar we show you how to build ranges from a market-centered midpoint, and how to use market data to update or create market-based pay ranges.
You’ll learn how to:
Build pay structures from the ground up
Choose benchmark positions and slot non-benchmark positions into your pay structure
Adjust and align your structure for special internal considerations
Create a strategy for dealing with “hot” jobs that fall outside of internal ranges
In this presentation, Mykkah Herner, a member of PayScale's compensation consulting team, will show you how to build ranges from a market-centered midpoint, and how to use market data to update or create market based pay ranges.
You’ll learn how to identify appropriate sources of market data, select an appropriate “market set” for utilizing market data, choose benchmark positions and slot non-benchmark positions into your pay structure, and create a strategy for dealing with “hot” jobs that fall outside of internal ranges.
Strategic role of compensation, strategic compensation policy, total compensa...Ramona Beharry
This PowerPoint deals with the Strategic role of compensation in the organization. States how you develop a total compensation strategy and also strategic compensation planning.
Shareholders and high performing employees need each other. Owners need growth enablers who can build the future company they envision. Key performers want to apply their unique abilities to a meaningful end that rewards them for value creation. So, how do you bring those two visions together in the way you construct rewards strategies? How do you pay crucial contributors in a way that improves shareholder value and makes owners feel good about the investment they are making in compensation? If these are questions you are trying to answer, you should not miss this!
The New Challengers: C3S – a new European collecting society
With the vision of becoming a modern European collecting society operating in every single European country and beyond, the Cultural Commons Collecting Society was created in 2010. Offering all rights reserved, Creative Commons, as well as licensing for semi-pro and home produced UGC, C3S acknowledges a variety of license types to enable individual strategies, for artists & businesses, as well as users as new creatives.
What effect on the market does the new competitive landscape have?
Wolfgang Senges, Executive Director, C3S - The Cultural Commons Collecting Society
Most companies struggle with how to design a bonus plan that “works.” Too many have tried various approaches only to end up with either an entitlement program or an abandoned effort all together. For those who have had this experience there is hope and help—and this webinar will offer both. Learn how to approach bonus plan design in a way that drives better results instead of just creating additional costs.
Share Company Value without Sharing Equity. Many companies wonder whether there is a way to tie a long-term incentive to the value of the company without giving away equity. The answer is yes and the solution is Phantom Stock. This concept has become the answer for many company leaders who feel reluctant about sharing stock but feel equally strong that their key people should participate in the value they help create. This presentation will describe how phantom stock works and why it has become such a valuable solution for business leaders seeking an alternative to equity sharing. Whether you have a phantom stock plan now or are just considering whether it would work in your circumstance, you will not want to miss this presentation!
Underwhelming Pay Strategy = Underwhelming Results
If I'm a CEO, I need my employees to draw the same conclusion I do about "what's important." And I want them to behave in a way that reflects that understanding and commitment. To accomplish that there must be alignment between the growth goals of the company, its business model and strategy, roles and expectations and financial rewards. So how do you create that line of sight and instill a sense of stewardship among employees through compensation? If these are issues you struggle with, you will not want to miss this presentation!
By: The VisionLink Advisory Group. A consulting firm that helps growth-oriented companies create greater alignment between their business plans and their rewards programs—thereby creating a unified financial vision for growing their companies.
Public relations professionals need to be actively engaged in the sustainability discussion at companies and clients. But this also means they need to understand the fundamentals of ethics policies and how ethics is woven into sustainability policies
10 Challenges That Every First-Time Manager Will FaceElodie A.
Being a manager is tough. Here are 10 challenges that every manager faces, with tips on how to improve them.
Read more on Officevibe Blog about Leadership and Employee Engagement:
https://www.officevibe.com/blog
Have you struggled to find a pay strategy that actually drives higher performance?
Well, it doesn’t have to be a mystery. Learn what high performance companies do to develop high performance rewards strategies. Turn Your Compensation Cost into an Investment in Business Growth!
View the recorded presentation on VisionLink's website: https://www.vladvisors.com/compensation-knowledge-center/webinars/5-keys-to-building-a-high-performance-pay-strategy-in-2018
How do you know whether your company’s pay strategy is successful? It’s a simple question but most company leaders struggle to find an adequate answer.
The reason the question is so difficult is because compensation is seldom considered a strategic issue. It’s considered a cost issue. Therefore, it is designed without the success measures most strategic initiatives carry.
So how do you determine a measure that best defines success when it comes to compensation? If you are struggling to determine whether your pay strategy is successful, you won’t want to miss this valuable presentation.
View the webinar recording online at: http://www.vladvisors.com/compensation-knowledge-center/webinars/what-is-a-successful-pay-strategy
How do you shift your employees from an entitlement to a stewardship mentality where your people take ownership of outcomes and results? If your company’s culture is showing symptoms of the entitlement “syndrome,” you will not want to miss this.
View a recording of the presentation here: https://www.vladvisors.com/compensation-knowledge-center/webinars/how-to-transform-entitlement-into-stewardship-2018
How to Determine if Your Pay Strategy Needs Professional Help. Compensation planning is not your core competency. Leading a business is. So is it time to stop putting your pay investment at risk and getting experts involved? In this presentation, we’ll show you seven ways you can tell.
View a recording of the presentation: https://www.vladvisors.com/compensation-knowledge-center/webinars/7-signs-you-need-a-compensation-consultant
Too many business leaders discover too late that their compensation offering is inadequate. They lose a key player or fail to secure a top recruit because their value proposition just isn’t compelling.
A pay strategy cannot be an afterthought. It has to be approached strategically and comprehensively or you will fail to attract, develop and retain premier talent. But how do you do that? What does a compelling pay program look like and where do you begin if you want to develop one?
Now you no longer need to wonder. VisionLink’s will give you comprehensive insight into how to build a rewards strategy that is both complete and compelling. It shares the secrets of experts who have spent the last 20 years designing successful rewards strategies for hundreds of businesses.
View a recording of the presentation: https://www.vladvisors.com/compensation-knowledge-center/webinars/how-to-build-a-more-compelling-pay-strategy
As an enterprise leader, you want to cultivate highly productive performers in your workforce. Your business growth depends upon it. And so you search for rewards strategies that will drive the kind of productivity and performance you need. However, you do so with some skepticism—wondering if pay really has any bearing on the results you achieve. Some things you read suggest it doesn’t, but your business intuition tells you that pay, productivity and performance are (or at least should be) linked. But how? The approaches you’ve tried in the past haven't exactly “worked.” So, you grapple with what to do next. If this is an issue you face, you will not want to miss this.
Ever get questions like these from your employees?
Why is my bonus less this year than last year? Why was my raise not higher? Why are you not paying me as much as salary.com says you should be paying me? Why can’t I have stock? Why…
You get the picture. Questions like these can put you on the defensive and strain your relationship with your employees. Worse, they evidence you have created a culture of entitlement. Yikes!
To learn how to make questions like these go away and transition your employees from a sense of entitlement to one of stewardship, be sure to watch our on-demand broadcast. You will not want to miss it!
In this broadcast, you will learn:
How entitlement takes root and what you can do to prevent it.
How a clear compensation philosophy can make 90% of pay complaints go away.
How to use market pay data more effectively—and why it is less important than you (and your employee’s) think.
What it means to have a balanced pay strategy and why it will make your value proposition more compelling.
Why a Total Rewards approach is critical to creating a positive employee experience, and…
Why today’s talent trends make it essential your people have that positive employee experience.
Is Pay Hindering Your Company’s Performance?
A culture of performance is one where success patterns have taken root throughout an organization. The company is winning and you see it manifest in every part of the business. However, for too many companies, the culture is not “firing on all cylinders.” Performance is lagging. As a result, breakthrough growth remains out of reach.
Pay can either drive or inhibit the success patterns that fuel business growth. If your company’s rewards strategy is hindering more than enabling a performance culture, you will not want to miss this presenation
Most business leaders struggle with their incentive plans. What kind of results should they reward? Who should receive them? How will the incentives be "paid for?" And finally, what is the right balance is between short and long-term value-sharing? Although there is no silver bullet answer to these questions for every company, there are guiding principles businesses should follow if they want their incentive plans to help drive the performance they seek. If you find yourself grappling with these issues, you will not want to miss this presentation! http://www.vladvisors.com/compensation-knowledge-center/webinars/how-to-balance-short-and-long-term-incentives
Most business leaders believe that some portion of employee pay should be in the form of incentives, but are left struggling to find answers to key questions: How much of someone’s pay should be variable? And who should have incentive pay as part of their mix? How much of the incentive should be short-term and how much should be based on long-term performance? What type of incentive(s) should it be? What if I don’t pay incentives and just pay higher salaries than my competitors? Will that work just as well?
If these are questions you are facing, don’t miss this presentation!
As a prudent enterprise leader, you want your employees’ compensation tied to their performance. However, to accomplish that you must be able to distinguish the results your employees’ are producing from those driven by other factors (such as market conditions or shareholder investment).
So how do you do that? How do you ensure that you are rewarding performance and productivity actually attributable to your people?
This broadcast will address these and other important “pay for performance” questions. you will learn what high-performance companies do to ensure they are rewarding the right results. If you have been unsuccessful in your attempt to build such a plan for your business, you will not want to miss this event.
VisionLink has been building rewards strategies for over 20 years. Now we want to share our secrets with you. Join us to learn the four steps to effective pay design and why each is essential.
What if you asked your top four employees to articulate the vision and purpose of your company? Could they do it? What about its business model and strategy? How about explaining their roles and the outcomes for which they have stewardship?
Chances are even your best people would struggle with that exercise. And if they have a hard time, imagine what that implies about the rest of your team.
Those simple questions reveal the level of line of sight you have in your business. And without line of sight, it is virtually impossible to have an engaged workforce.
With that in mind, VisionLink discusses the important role of employee alignment in creating sustained success in all aspects of talent management and performance—and how to create a pay strategy that reinforces the vision and mindset you want your employees to have.
To view a recording of this webinar, visit: http://www.vladvisors.com/compensation-knowledge-center/webinars/how-to-improve-line-of-sight-and-why-it-matters
To learn more about VisionLink, visit: www.vladvisors.com
Which Long-Term Incentive Plan is Right for Your Company? If you plan to grow your company, you will need a pay plan that rewards long-term performance. You just will! Employees want to know they can participate in the business value they help create.
The hard part is determining which value-sharing approach is most suitable. Should you share stock? If so, should you give away present value or just future value? If you do not want to share equity, do you still want to tie the incentive to business growth in some way? There are lots of questions to be answered before you can determine which LTIP strategy is best.
In short, we can help you decide how to pick the best LTIP for your company.
How to build a pay strategy that performs the way you want it to.
Do you want to ensure your pay strategy will succeed—that it will do the job you’ve “hired” it to do?
If so, you must learn the process that compensation experts use. It includes four phases of planning. If followed, you will end up with a compensation offering capable of attracting premier talent and turning your employees into growth partners.
VisionLink has been building rewards strategies for over 20 years. Now we want to share our secrets with you. Join us to learn the four steps to effective pay design and why each is essential.
Let’s face it, it is becoming harder and harder to attract the best talent. And without great people, you’ll never achieve a high-performance culture. As a result, your growth ambitions will be left unfulfilled. In short, it is critical to have an “irresistible” pay offer.
In this presentation, you will learn:
What a well-crafted pay philosophy should address and why it matters to the people you are trying to attract.
How to design a pay approach that appeals to the millennial employees you need to recruit.
Why a compensation strategy rooted in a value-sharing model is essential to an irresistible pay offer.
How top talent evaluates your compensation plan—and what they want it to help them achieve.
Why “how” you pay top producers is more important than “how much” you pay them.
How to create a rewards plan that offers unlimited earnings potential and pays for itself.
To watch the recording, visit https://www.vladvisors.com/webinars/the-3-parts-of-an-irresistible-pay-offer
Is there such a thing as a chief executive who is “satisfied” with the performance of his or her employees? Or, are there any who feel their company’s performance management system is “working?” And what about pay? Do you know anyone who feels good about the relationship between the incentive payments they are making and how their people are performing?
I’m guessing not.
So why is that? How can so many run successful businesses but not be able to figure out how to effectively manage the performance of their people and reward them in a way that drives more of the results they want?
The answer is because there are no rules. And the reason there are no rules is because every business is different.
So, what do you do?
Well, you will need to watch our on-demand webinar to learn the answer. (Sorry, it’s just how marketing works!) Discover the principles and practices successful companies use to drive, manage and reward superior employee performance.
How do you determine who the top performers are in your organization—and what kind of value proposition are you offering to make sure they will stay?
These seem like simple questions but most business leaders struggle to answer them. And knowing the answers is critical given the scarcity of skilled talent in the marketplace today.
In short, being able to identify those people who are really creating value in your business—and developing a pay strategy that keeps them producing—has never been more important. It doesn’t go too far to say that the future of your business depends on it.
Addressing these issues is the focus of this presentation.
For many businesses, attracting, retaining, motivating and rewarding employees are key issues that can be the difference between success and failure. It is also a vital issue for any potential buyer (internal or external) and has a direct impact on business risk, and also value.
As part of our strategic advisory work with clients, we are able to offer a range of solutions to manage these issues and provide easy to implement solutions for business owners to encourage employees to think and act like business owners.
If you lead a business, perhaps you’ve had to deal with questions like these: “Why is my bonus less than it was last year?” “Why didn’t I get a bigger salary increase?” “Can I have stock?” All are indicators your employees are feeling a bit entitled.
So, how does this happen? More important, what can you do about it? How can you transform a culture of entitlement into one focused on value creation and engagement?
Finding and keeping great people has never been more important—or as competitive. As a result, once you’ve secured premier talent, the last thing you can afford to do is lose those employees. However, if your organization is like most, you are at risk of losing your key performers. There are four primary reasons your best people may be considering leaving and why a focus on greater employee engagement is so critical. To learn what they are—and how they might work for your business—be sure to view this broadcast.
VisionLink has been building rewards strategies for over 20 years. Now we want to share our secrets with you. Join us to learn the four steps to effective pay design and why each is essential.
Similar to Does Pay Impact Employee Engagement? (20)
If you are like most business leaders, your confidence in the economy is growing…but your company is not completely recovered from its COVID experience. It’s left you and your leadership feeling a bit numb. You may have had to cut salaries, freeze incentive plans and either furlough or let employees go. It’s been painful. (Our apologies for reminding you!)
Now you need to move forward with optimism but you can’t just pretend nothing has happened, right?
All of this leaves you feeling uncertain about what your pay strategy should look like in 2021. Questions abound: How can you reward employee performance but not make your cash flow vulnerable? How can you create a pay offering that is more flexible without also unleashing compensation chaos? And so on.
If this is where you and your company find yourselves, you should watch this broadcast.
When economic conditions are in constant motion, is it even possible to determine the “right” pay strategy?
For example, some company leaders believe high salaries are necessary to attract great people, but are concerned about having costly pay commitments if the economy is shut down again. Others think employee earnings should be tied heavily to performance, but wonder what metrics to use—and how to balance short versus long-term rewards. So, is one right and the other wrong?
The reality is there is no playbook for determining how to pay employees amid the kind of economic uncertainly we have been experiencing. So, what should you do?
This broadcast will help you answer that question. You will learn how to use compensation as a strategic tool and construct a rewards approach that is agile enough for changing conditions but enduring enough to work in any economy. We will, in fact, show you how to resolve the “higher salary versus bigger incentives” dilemma.
The COVID economy has likely caused you to rethink your compensation approach and forced you to confront some difficult questions: Should incentive compensation play a larger or smaller role in your pay strategy going forward? What’s more important—rewards for short or long-term performance? Better yet, should you even be offering incentives at all given the current uncertainty in the business environment?
VisionLink and EBS would like to help you answer those questions. In this webcast, you will learn why incentive plans are more important than ever and how they should be engineered in a post-COVID business world. We will show how the right approach to value-sharing can help you succeed any economy and inspire a balanced result in your employees’ performance.
If there’s one thing that’s certain about the future it’s that nothing about the future is certain. That makes it hard to plan, does it not? Yet, to succeed in the new economy you must have a strategy—and soon. It’s urgent. So, what should you do?
Start with your employees. They will have a lot to do with whether your company’s future is successful or not. Consequently, the experience you provide must be envisioned in advance and delivered according to your plan. It must attract premier talent and ensure they will want to stay and perform. And it must enable your employees to easily buy into and support your vision for the future—so they will be as committed to the company’s success as you are.
So, what kind of experience will do that?
That is the issue we addressed in this broadcast.
The COVID economy has likely created competing priorities for you as a business leader. You feel pressure to minimize your compensation expense and protect cash flow. At the same time, you need to incentivize employee performance so your people will be motivated to get results.
So, what should you do?
Tune into this webcast to learn why many enterprise leaders are finding phantom stock to be the answer. In this broadcast, we will show you how this kind of plan enables you to reward performance without increasing your compensation expense. You will also see how phantom stock allows you to share value without diluting owner equity.
In short, we will demonstrate why phantom stock is the compensation equivalent of “having your cake and eating it too.”
Chances are, you think differently about compensation now than you did a few months ago. Let’s face it, COVID-19 made us think differently about a lot of things, did it not? And although you’ve survived the crisis so far, you recognize your pay strategy going forward probably needs to change.
But change how? Exactly what should be different?
This broadcast was created to help you answer that question. We recognize business leaders like you are struggling to determine how you can effectively reward performance in the new economy without creating the same financial vulnerabilities you’ve just lived through. We can think we can help.
You want your people to buy into your vision of the future. You want to attract and keep premier talent. You want your employees to adopt a stewardship mindset and “own” results. You want all stakeholders to feel they are a part of the company’s success. You also want all stakeholders equally invested in preventing mistakes that can set the company back.
You recognize that’s a tall order in the best of times. But in today’s chaotic business environment, the challenge is even greater. So, what should you do?
This broadcast was created to help you answer that question.
The COVID-19 economy changed everything, did it not? The future business environment is not going be the same as it was prior to the pandemic. As a result, your future company can’t be the same either. It will be facing unique challenges. But it also offers you unprecedented new opportunities.
As always, those who anticipate and prepare for that future will have the advantage.
To that end, watch the recorded presentation to learn five ways you can leverage your ability to succeed in the new economy. In this webinar, we will share high impact insights that will help your company thrive regardless of the conditions that lie ahead.
Employee performance management has been undergoing a revolution over the past few years. Highly structured, year-end appraisals are being eliminated. Instead, business leaders are adopting a forward-looking, flexible mentoring and coaching approach. The “new and improved” method is designed to help companies navigate the accelerated pace of change all businesses are experiencing.
So, how is this revolution impacting compensation? What kind of pay strategies are being used with this new performance management approach? How are successful business leaders ensuring their compensation plans offer maximum flexibility without creating a need for constant reinvention?
In this webinar, we will answer all those questions and more. You will discover how a rewards plan can be both agile and enduring—and why that combination is essential in the hyper-change environment we are living in.
Compensation is expensive. And if your pay investment is not managed properly, it can wreak havoc on your company’s cash flow. For many business leaders, that’s been a key learning from the coronavirus economy.
So, how do you solve that problem? What rewards plan allocation is best suited to your organization and most likely to produce the performance results you want?
In this webinar, we will answer both those questions. We will show you how to create a structure that ensures your compensation investment is effectively planned and managed—and generates a real return for the company. Not only that, we will introduce you to an online tool that helps you achieve that outcome simply—and for free.
What if the employee incentive plan you offer didn’t really cost your company anything? How much value would you share? In theory, if it didn’t really cost you anything, the amount you could share would be unlimited, right? So, what’s the catch? Is there actually such a thing as incentive compensation that pays for itself?
There really is no catch. You could start a self-financing incentive plan today if you just knew the steps to take. And that’s the purpose of this webinar. We want to teach you how to reward performance in a way that drives a positive ROI on your compensation investment, and eliminates the “cost” associated with traditional approaches. So, stop wasting money on incentive plans that are a drain on cash flow and profits.
Happily, our country is beginning to open for business again. So, what now?
While the economy won’t recover overnight, smart companies are starting to plan how their businesses will operate differently in the future, especially when it comes to compensation. Going forward, they want pay programs that won’t paralyze their cash flow or otherwise create the kind of financial strain their current plans have caused.
So, what’s the solution? How should your rewards approach in the future be different than has been previously? What emphasis should be given to guaranteed versus incentive compensation? What is the best way to align pay with results and what kind of performance should be rewarded? How do you make sure your compensation plan has the right balance of flexibility and stability? And what should you start doing now to prepare for success going forward?
Chances are, you’ve been hit hard by the coronavirus pandemic. Not the flu itself, hopefully. (God willing, you’ve steered clear of that contagion.) No, we’re talking about the economic hit. Its impact has been more far reaching and less discriminatory than the actual virus.
If Covid-19 has created an uncertain economic future for your company, we’d like to show you a way to effectively manage compensation in the face of the current chaos that also ensures your success when things rebound. We call this the “survive to thrive” strategy.
In this presentation you will learn a pay approach that is flexible and resilient enough for broad cash flow fluctuations but enduring enough to remain relevant when prosperous times return.
While the coronavirus has stalled business for many companies, some are experiencing a sudden spike in demand for their product or service. Perhaps yours is one of them. If so, you may find yourself “hiring in a hurry” to ensure you have enough talent to handle the sudden increase in interest, traffic and opportunity.
Given the urgency, the risk of mistake-making is high and can be costly—especially when it comes to extending pay offers. Compensation is an expensive proposition, so making promises in a hurry can be particularly hazardous. You don’t want to make commitments now you will regret later.
We can help you avoid that risk.
The economic chaos caused by the coronavirus pandemic is likely causing you to examine every financial element of your business right now. And because compensation is the biggest line item on your P&L, that number blares at you like a neon sign these days. All logic tells you it needs to shrink--and quickly.
As a result, you're wondering what your pay strategy should look like for the foreseeable future. Now, more than ever, your approach to compensation needs to be tied to performance--which means it is linked to results. If that's true, what should those results be and how do you make sure your pay plan effectively rewards them?
It is time to get rid of that bonus plan you have reinvented five times in the last six years. More metrics is not the answer. A different payout schedule isn’t going to change anything. You just need to let it go. Incentive plans have become unappreciated, ineffective and economically indefensible. In today’s business environment, your focus should be on value-sharing. To learn how to transition from paying incentives to sharing value—and why it matters—watch our on-demand broadcast.
Most business leaders want greater engagement from their employees. So, they hire consultants, go on retreats, survey their workforce, initiate team-building exercises and design one engagement strategy after another. And then…they become frustrated because they have little to show for their efforts.
The truth is, employee engagement is not as complicated as we make it. The problem is, in business, we want to solve everything with a strategy. But engagement isn’t the result of a clever strategy. Its development is organic. Therefore, the focus of business leaders should be on encouraging and accelerating its evolution—not on trying to manipulate it into existence.
For most companies, compensation is the costliest item on the P&L. And yet business leaders typically know little about their organization’s pay strategy. In today’s hyper competitive world, that’s not okay. Pay is a strategic tool that can either drive or diminish company profitability. It is a key to recruiting the kind of talent that can positively impact the trajectory of the business. Therefore, chief executives need to play a leading role in charting the compensation course their companies take. But, to do that effectively, they must become better informed about core pay issues. But which issues? What, exactly, do they need to know?
This webinar will answer those questions. It is designed for enterprise leaders who want to learn how compensation can play a more productive role in their businesses.
How do you determine the right blend of salaries and incentives in your pay strategy? Some believe that paying higher salaries attracts the best people, and therefore improves company performance. Others believe employee earnings should be tied to results, so they emphasize variable pay. So, is one right and the other wrong?
Obviously, there is no universal “right” way to pay employees. Instead, you must find what works best for your organization. So, how do you do that?
That is the question this webinar plans to answer. We will discuss 3 principles for determining the right rewards balance for your company and how they can be used to resolve the higher salary versus bigger incentives dilemma.
If you lead a business, you must treat your compensation plan as a strategic tool that can accelerate company growth. If you don’t, it can become a profit diluter and a drag on company performance.
With that in mind, we invite you to learn the 3 areas of strategic impact you should be having on your company’s pay design and development. We will discuss which compensation decisions only you should make and those that can be delegated to someone else.
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Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
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2. Vision: Help Businesses Build and
Sustain a PerformanceCulture
Accelerate performance capabilities by
designing pay strategies that transform
employees into growth partners.
3. If you do that…
• Qualityof talent will improve.
• Employeeengagement will expand.
• Performancewill be magnified.
• Business growth will be accelerated.
• Shareholder value will increase.
4. 44
Why Talk About Engagement?
1. Age of “employee empowerment”
2. Increasing competition for great talent
3. Engine of a performanceculture
“Research suggests that the
issues of ‘retention and
engagement’ have risen to
No. 2 in the mindsof
businessleaders, second
onlyto the challengeof
buildinggloballeadership.”
(DeloitteUniversityPress)
5. 55
Why Talk About Pay & Engagement?
Misinformation
Misunderstanding
Missed opportunities
Pay too often addressedin
segmented or siloed fashion
without regard for its
comprehensiveimpact.
10. 1010
The Engagement Issue
Employees today have increased
bargaining power, the job market is
highlytransparent, and attracting
top-skilled workers is a highly
competitive activity. Companiesare
now investingin analyticstools to
figure out why people leave, and the
topicsof purpose, engagement, and
culture weigh on the minds of
businessleaders everywhere.
Deloitte 2015 Study & Report
11. 1111
The Irresistible Organization
…The employee-work contract has
changed: Peopleare operatingmore like
free agents than in the past. In short, the
balance of power has shifted from
employer to employee, forcingbusiness
leaders to learnhow to build an organization
that engagesemployeesas sensitive,
passionate,creative contributors. We call
this a shift from improving employee
engagement to a focus on building an
irresistible organization.
Deloitte 2015 Study & Report
14. 1414
Why Performance Management is
Changing
Old Emphasis:
Too much attention on
end of year structure for
financial rewardsand
punishments
Accountabilityisrearward
looking
Lackof focus on improving
current performanceand
groomingtalent for the
future
(“The Performance Management Revolution,”
HBR, October 2016, Peter Cappelli and Anna
Tavis)
15. 1515
Performance Management Shift
New Emphasis:
“Regular conversations
about performance and
development change the
focus to building the
workforce your organization
needs to be competitive
both today and years from
now.”
(“ThePerformanceManagement Revolution,”HBR,
October2016,PeterCappelli and AnnaTavis)
16. 1616
What About Compensation?
Ranks in top 5 drivers (Aon Hewitt)
A “hygiene”factor (Deloitte)
#1 reason people leave
(Payscale.com)
As the economy is expanding,
employees have more negotiating
power
Pay doesn’t impact performance
(Misc. experts)
17. 1717
Key Quote
"If you aren't talkingwith
your employeesabout pay,
chancesare that they're
talkingto each other and
creatingtheir own story of
what [the company's]
compensationpolicy is.
That's not a good thing.“
(Aubrey Bach, senior manager of
editorial marketing at PayScale)
19. 1919
Apply 4 Key
Principles
1. Operate within a
performance
framework
2. Establish a clear
pay philosophy
3. Nurture
stewardship
4. Incorporate the
employee view
Aligning Pay Strategy & Engagement
20. 2020
…and Add a Dose
of Common Sense
Aligning Pay Strategy & Engagement
21. 2121
1. Operate Within a Performance Framework
Business
Framework
Talent
Framework
Compensation
Framework
22. 2222
Business Framework
Phase One
Define Growth Expectations
(Vision)
▪ Keyoutcomes that must beachieved
Define BusinessModel and
Strategy
▪ Performance Engine
▪ How thecompanywill compete
▪ Where are growth opportunities?
IdentifyRoles and Expectations
▪ Establish Performance Criteria
▪ Define “Success”
Business
Framework
23. 2323
Compensation Framework
Phase Two
Establisha pay
philosophy
▪ Expansive vs. Selective—or
Hybrid
▪ Define what the companyis
willing to payfor
Engineera pay strategy
▪ Structure
▪ Mindset
Adopt a “Total Rewards”
Approach
Compensation
Framework
25. 2525
2. Establish a Clear Pay Philosophy
A written statement of what the
company is willing to “pay for.”
Tie it to value creation.
26. 2626
Compensation PhilosophyStatement
How value creationis defined.
How value is shared—andwith
whom.
Market pay standards.
How guaranteed pay and value-
sharingwillbe balanced.
How shortand long-term value-
sharingwillbe balanced.
When or if equity will be shared.
How merit pay is defined.
What do you want pay to
communicate about what’s
important?
27. 2727
Spell it Out
Value creation occurs beyond
an appropriate return on
shareholder capital (12%).
We believe value should be
shared with those who are most
responsible for its creation.
We believe value-sharing
should be split 50/50 in
rewarding short-termand long-
term performance
We believe in being at the 45-
50th percentile with guaranteed
pay but in providing unlimited
upside earnings through value-
sharing
29. 2929
Old School
People Are Lucky to Have a Job
Philosophy Pay the least you can to get the work done.
Cost or Investment? Every dollarspent on pay is one dollar less in profits.
Salaries Check the market; pay less if we can get awaywith it.
Bonuses Maybe;let's wait and see if we have a good year.
Long-term Incentives
(quasi-equity)
Are you crazy?
Results
If you have a business with sustainablecash flow and it doesn't
require innovativeemployeesor much customer interaction,
this can work…but won’t attractor retain premier talent.
30. 3030
Defensive
Don’t Rock the Boat
Philosophy We want to pay peoplewell, but we have to be very cautious.
Cost or Investment? We need to be very carefulto control costs--includingpay.
Salaries We want to be "at market." Keep searchingfor it.
Bonuses We will try to pay bonuses as long as we can afford them.
Long-term Incentives
(quasi-equity)
Not our cup of tea. Seems expensiveand unnecessary.
Results
If you want employeeswho are cautious about bringingup pay
issues . . . and accept that pay should never go lower but rarely
should go higher, this is the approachfor you.
31. 3131
Wealth Creation
Let’s Focus on Performance
Philosophy
Pay strong salariesand incentivesto enablethe companyto
attract great talent.We are willingto pay "above market" for
top performers.
Cost or Investment?
We see compensationasan investment that should produce a
positivereturn for shareholders.
Salaries
Salariesshould be "at market"for most positions but
somewhat above for high value positions.
Bonuses
Bonuses are set and communicatedearly in the year;they are
expressed as a meaningfulpercentageof salaries.
Long-term Incentives
(quasi-equity)
May playa smallrole.
Results
If you want to focus on aligningemployeeperformanceand
pay with your crucialbudgeted goals, considerthis approach.
32. 3232
Wealth Multiplier
Let’s Secure Growth Partners
Philosophy
Share economicvalue. "If you create financialvalue, you will
participatein a generous portionof it."
Cost or Investment?
Compensationis allocatedto produce the highest possible
return for both shareholdersand contributingemployees.
Salaries
We use data for benchmarking,but our pay philosophydrives
where we want to be vis a vis market pay.
Bonuses
Bonuses (value sharingplans)are tied to crucial metrics,
recognizepersonalcontributions,and are not capped.
Long-term Incentives
(quasi-equity)
Viewed by top performersas the most meaningfulpartof their
rewards program.
Results
If you want to be able to attract and retain the best talent in
your industryand have them adopt a stewardshipmindset
regardingshareholdergoals, this is your system.
39. 3939
Compelling Future
The company’s
purpose and
mine are
aligned.
I see myself in
the company’s
future.
I have a “seat at
the table” in
determining
the direction of
the company.
I like the
direction the
company is
headed.
I embrace the
company’s
values.
I believe the
company can
achieve its
growth goals.
40. 4040
Positive Work Environment
I like the nature of the
work I’m doing.
I am working within my
unique ability.
My responsibilities have
strategic purpose.
I work in a team of
individuals with
complementary skills.
There are channels and
processes for solving
problems and decision
making.
41. 4141
Personal and Professional Development
As a result of my immersion in
the culture and resources of
this organization, my unique
abilities will improve—and I will
experience personal and
professional fulfillment.
42. 4242
Financial Rewards
I have some
control over
how much I
can earn if I
produce.
I feel a sense of
partnership
with
ownership.
There is a
philosophy that
guides pay decisions
and I relate to it.
There is a
mechanism for
sharing value with
those who help
produce it.
43. 4343
Total Rewards Approach
Compelling Future
Purpose
Positive Work
Environment
Autonomy
Opportunities for
Personal and
Professional Growth
Mastery & Purpose
Financial Rewards
Partnership
45. 4545
4. Incorporate the Employee View
Everything you do in your
organization gives your
employees clues about two
things:
1. What you value
2. Where they fit
46. 4646
Clue Taken from Pay Strategy
“Does my employer
understand why I care
about my compensation?”
47. 4747
6 Reasons Employees Care About Pay
Personal
1. Lifestyle & Wealth
Accumulation
2. Career Measurement
3. Contribution Ambitions
Business
4. Roles, Expectations &
Priorities
5. Partnership
6. Continuity & Fairness
49. 4949
Financial “Hierarchy of Needs”
Cash Flow & Living Standard
Security
Retirement Planning
Wealth Accumulation
Qualified & Executive
Retirement Plans
Comprehensive, Flexible
Benefits Plan
Short & Long-Term Incentive
Plans
Salary & Bonus
Wealth Multiplier Commitment
Clear Pay Philosophy
1
2
3
4
50. 5050
Reason # 2 Career Measurement
The pay level and
programs in which an
employee participates
become a means of
measuring where that
person is in their career
and where they need to
go next.
51. 5151
A Comparative Exercise
“Is my pay offeringequal to or
better than my peers?” If not,
the employeewill do one of
two things:
1) Determine has not yet
developed the skills
needed to attain the
career level of peers
2) Determine you do not
fully recognize what a
person of that talent and
ability should be paid at
this stage of professional
development.
52. 5252
Reason # 3 Contribution Ambitions
Personal Vision
Most growth-oriented people
aspire to make certain
contributions in their personal
and professional lives.
The ability to achieve their
contribution goals is the source
of their motivation.
53. 5353
Contribution Ambitions
Differentfor Every Individual
Causes and Charities
Children’s Education
Family Well-Being
Freedom to Build Something
Control Over Time &
Commitments
Vary by generation.
Vary by career stage.
55. 5555
Reason # 4 Roles, Expectations & Priorities
Vision
Where?
Model &
Strategy
How ?
Roles and
Expectations
My Contribution?
Rewards
What’s in it for
me?Line of Sight
57. 5757
Market a Future that’s Relevant
Here’s our future
Here’s how we’re going to
get there
Here’s the role we picture
for you
Here’s how we encourage
our people to grow and
contribute
Here’s our
philosophy about
pay and rewards
Here are our specific
pay programs
Here’s how our pay
programs could
work for you if we
achieve our plan
59. 5959
Reason # 6 Continuity & Fairness
Is there operational integrity between mission,
vision, strategy, roles, expectations, results and
rewards?
60. 6060
Key Question About Pay
“If I participatein a rewards
program that has no bearing on
the outcomes and prioritiesI hear
you emphasize—orisat odds with
them—what level of confidence
do I have in my role and in your
leadership?”
61. 6161
Build a Total Compensation Structure
A total compensation
structure givesyou a
comprehensiveview of all
compensationandbenefit
plansand ensures
operationalintegrity.
62. 6262
Eight Components of Pay
Benefits
Core benefits
Executive benefits
Qualified retirement plans
Supplemental retirement plans
Compensation
Salary
Performance incentives
Sales incentives
Growth incentives
Incentives shouldbe in theform of value sharing.
63. 6363
Salary
Performance
Incentives
Sales
Incentives
Growth
Incentives
Core Health
& Welfare
Plans
Executive
Benefit
Plans
Qualified
Retirement
Plans
Nonqualified
Retirement
Plans
Salaries
Competitive with market standards?
Tied to strongperformance management process (merit)?
Managedwithin a flexible but effective structure?
Performance Incentives
Tied to productivity gains?
Clear, achievable andmeaningful?
Self-financing?
Sales Incentives
Challengingyet achievable?
Reinforcing the rightbehaviors?
Differentiating your offering?
GrowthIncentives
Linked to a compelling future?
Supportingan ownership mentality?
Securing premier talent?
Core Benefits
Responsiveto today’s employee marketplace?
Allocatingresourceswhere most needed?
Evaluatedto eliminate unnecessaryexpense?
Executive Benefits
Flexible enoughto addressvarying circumstances?
Communicating a unique relationship?
Reducing employee tax expense?
QualifiedRetirement Plans
Giving employees an opportunity to optimize retirement values?
Operated with comprehensive fiduciary accountability?
Avoiding conflicts andminimizing expenses?
NonqualifiedRetirement Plans
Optimizing tax-deferral opportunities?
Aligning long-terminterestsof employees with shareholders?
Structuredto receive bestpossible P&L impact?
An Aligned
Compensation
Strategy
64. 6464
Form of Pay Purpose Standard Investment ROI
Salaries
Provide for thecurrent cash needs
of our executives
40-50th percentilefor
peer group
$500,000
Achieve ROA standard
of 0.75%
Short-termIncentives
Enhance current cash payments to
executives for achieving top and
bottomlineannual goals
30-40% of base salary $168,000 (Target)
15% revenue growth
and 12% margin
Long-term Incentives
(Cash)
Retain execs; focus themon long-
term earnings growth;align with
shareholderinterests; meet wealth
accumulationneeds
15-20% of base salary $84,000 (Target)
Long-term growth in
earnings (double
earnings = share 13%
of new value)
Long-term Incentives
(Equity)
Retain execs; focus themon long-
term earnings growth;align with
shareholderinterests; meet wealth
accumulationneeds
15-20% of base salary $84,000 (Target)
Long-term growth in
earnings (double
earnings = share 13%
of new value)
Core Benefits
Meet basicsecurity needs of the
executives
50th percentilefor peer
group
$25,500 ROA of 0.75%
Executive Benefits
Enhance basic security needs and
meet market standards for
perquisites
50th percentilefor peer
group
$24,000 ROA of 0.75%
Qualified Retirement
Provide wealth accumulation
opportunityforexecutives
40th percentile(3% of
salary)
$15,000 ROA of 0.75%
Supplemental
Retirement
Strengthenrewards value
propositionto help recruit and
retain executives; meet wealth
accumulationneeds
30th percentile
comparedto banks that
have plans
$135,000 ROA of 0.9%
66. 6666
Creating a Balance
Total CompensationStructure
Name Title/Position Tier Salary
Short-term
Incentive
Target
Long-term
Incentive
Target
Total Direct
Comp
H&W
Annual
Value
QRP
Annual
Value
Security
Plans Annual
Value
Total
Indirect
Comp TRI
Jason Smith CEO 1 $ 300,000 $ 120,000 $ - $ 420,000 $ 18,200 $ 8,000 $ - $ 26,200 $ 446,200
Lucy Jones VP Marketing 2 $ 210,000 $ 45,000 $ - $ 255,000 $ 16,200 $ 7,000 $ - $ 23,200 $ 278,200
Rick Miller VP Sales 2 $ 160,000 $ 85,000 $ - $ 245,000 $ 9,200 $ 6,000 $ - $ 15,200 $ 260,200
JaniceJohnson CFO 2 $ 195,000 $ 40,000 $ - $ 235,000 $ 10,200 $ 5,000 $ - $ 15,200 $ 250,200
Maria York Director 3 $ 160,000 $ 10,000 $ - $ 170,000 $ 12,200 $ 4,000 $ - $ 16,200 $ 186,200
Frank North Director 3 $ 150,000 $ 10,000 $ - $ 160,000 $ 11,200 $ 3,000 $ - $ 14,200 $ 174,200
Ricardo South Director 3 $ 140,000 $ 10,000 $ - $ 150,000 $ 7,700 $ 2,000 $ - $ 9,700 $ 59,700
Simon Lewis Director 3 $ 130,000 $ 10,000 $ - $ 140,000 $ 8,700 $ 2,500 $ - $ 11,200 $ 151,200
$ 1,445,000 $ 330,000 $ - $ 1,775,000 $ 93,600 $ 37,500 $ - $ 131,100 $ 1,906,100
How are
thesevalues
determined?
Why no LTI
tobalance
theSTI?
Should webe
addressing
theseneeds?
67. 6767
What Does It Tell You?
Total Rewards Investment (TRI) Allocation
TRI looksat each componentof pay as a percentage of the total
Name Tier Salary STI% LTI% H&W% QRP% SP% TRI
Jason Smith 1 67.2% 26.9% 0.0% 4.1% 1.8% 0.0% $ 446,200
Lucy Jones 2 75.5% 21.4% 0.0% 7.7% 3.3% 0.0% $ 278,200
Rick Miller 2 61.5% 53.1% 0.0% 5.8% 3.8% 0.0% $ 260,200
Janice Johnson 2 77.9% 20.5% 0.0% 5.2% 2.6% 0.0% $ 250,200
Maria York 3 85.9% 6.3% 0.0% 7.6% 2.5% 0.0% $ 186,200
Frank North 3 86.1% 6.7% 0.0% 7.5% 2.0% 0.0% $ 174,200
Ricardo South 3 87.7% 7.1% 0.0% 5.5% 1.4% 0.0% $ 159,700
Simon Lewis 3 86.0% 7.7% 0.0% 6.7% 1.9% 0.0% $ 151,200
Salary STI% LTI%
H&W% QRP% SI%
68. 6868
Balanced Structure
Total CompensationStructure
Name Title/Position Tier Salary
Short-term
Incentive
Target
Long-term
Incentive
Target
Total Direct
Comp
H&W
Annual
Value
QRP
Annual
Value
Security
Plans Annual
Value
Total
Indirect
Comp TRI
Jason Smith CEO 1 $ 300,000 $ 75,000 $ 75,000 $ 450,000 $ 18,200 $ 8,000 $ 15,000 $ 41,200 $ 491,200
Lucy Jones VP Marketing 2 $ 210,000 $ 36,750 $ 36,750 $ 283,500 $ 16,200 $ 7,000 $ 10,500 $ 33,700 $ 317,200
Rick Miller VP Sales 2 $ 160,000 $ 60,000 $ 40,000 $ 260,000 $ 9,200 $ 6,000 $ 8,000 $ 23,200 $ 83,200
JaniceJohnson CFO 2 $ 95,000 $ 34,125 $ 34,125 $ 263,250 $ 10,200 $ 5,000 $ 9,750 $ 24,950 $ 288,200
Maria York Director 3 $ 160,000 $ 16,000 $ 16,000 $ 192,000 $ 12,200 $ 4,000 $ 8,000 $ 24,200 $ 216,200
Frank North Director 3 $ 50,000 $ 15,000 $ 15,000 $ 180,000 $ 1,200 $ 3,000 $ 7,500 $ 21,700 $ 201,700
Ricardo South Director 3 $ 140,000 $ 14,000 $ 14,000 $ 168,000 $ 7,700 $ 2,000 $ 7,000 $ 16,700 $ 184,700
Simon Lewis Director 3 $ 30,000 $ 13,000 $ 13,000 $ 156,000 $ 8,700 $ 2,500 $ 6,500 $ 17,700 $ 173,700
$ 1,445,000 $ 263,875 $ 243,875 $ 1,952,750 $ 93,600 $ 37,500 $ 72,250 $ 203,350 $ 2,156,100
We’ve
reduced the
STI targets.
But we’ve
balanced with a
LTIP (wealth
creation).
This can
strengthen
partnership and
improve retention.
69. 6969
A balanced approach will typically appeal to premier
talent who hold a long-term view
Total Rewards Investment (TRI) Allocation
TRI looksat each componentof pay as a percentage of the total
Name Tier Salary STI% LTI% H&W% QRP% SP% TRI
Jason Smith 1 61.1% 15.3% 15.3% 3.7% 1.6% 3.1% $ 491,200
Lucy Jones 2 66.2% 17.5% 17.5% 7.7% 3.3% 5.0% $ 317,200
Rick Miller 2 56.5% 37.5% 25.0% 5.8% 3.8% 5.0% $ 283,200
Janice Johnson 2 67.7% 17.5% 17.5% 5.2% 2.6% 5.0% $ 288,200
Maria York 3 74.0% 10.0% 10.0% 7.6% 2.5% 5.0% $ 216,200
Frank North 3 74.4% 10.0% 10.0% 7.5% 2.0% 5.0% $ 201,700
Ricardo South 3 75.8% 10.0% 10.0% 5.5% 1.4% 5.0% $ 184,700
Simon Lewis 3 74.8% 10.0% 10.0% 6.7% 1.9% 5.0% $ 173,700
Salary STI% LTI%
H&W% QRP% SI%
70. 7070
What Have We Learned
New Age of EmployeeRelations
IrresistibleOrganizations
Changes in Performance
Management
Pay Can Be an Asset or a Liability
(retention or attrition)
Fresh Approach is Needed—
IrresistibleValue Proposition
71. 7171
Conclusions
It’s a New World—Genie is Out of the Bottle
Change Creates Unique Challengesand
Opportunities.
Look at Pay as an
Investment
Look at Pay as a
Marketing Strategy
Use Pay to Create Growth
Partners
Use Pay to Reinforce a
Performance Culture