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The Institute for Human Resources (IHR) Compensation Best Practices and Trends certification program was launched on February 14/15, 2011, with a two-day virtual event. Subsequent events have been held on June 6th & 7th, September 22nd & 23rd, December 12th & 13th, March 19th & 20th and Jun 11th & 12th. Archives of events are available on www.HR.com.
To date, over 4,000 HR professionals have registered for the IHR program. The purpose of this introductory session is to provide you with an update on webcast topics and introduce you to speakers that will be presenting on September 10th & 11th. In addition, for those of you who have not participated in one of these events in the past, you will be shown how to register for any newly-added webcasts and make use of the virtual Exhibit Hall, where you can increase your knowledge on product and service suppliers in the compensation arena. You will also learn how to network with your peers by visiting the lounge. All of these webcasts have been approved for HRCI recertification credits – with the exception of this introductory webcast. More importantly, the Institute for Human Resources has launched a number of different certification programs and in this case, the program has been designed for those HR professionals who are responsible for compensation in their organizations. This short webcast will provide you with complete information on what is required to obtain certification from the Institute for Human Resources. The management of this Institute would not be possible without the input from the Advisory Board. This session will also introduce all the members of the Advisory Board to you as well as a calendar of future events will be shared so that members can pre-register now to avoid future schedule conflicts.
****This sessions does not apply for IHR and HRCI credits as it was too short in length****
The greatest challenge in business today is that of following a principle-based path in our work and demonstrating courage in the face of constant pressure to conform or “follow the leader.” Simply put, demonstrating integrity and courage places all that we value most, (job security, family, friends and home), at personal risk. However, we have also seen the results of blind obedience in the scandals at such corporate giants as Enron, Lehman Brothers and most recently the debacle unfolding at J P Morgan Chase. The watchdogs, auditors and admired leaders were there, at the moment when decisions were made that clearly turned these companies toward the abyss. This is not to say that those of us that practice Compensation and HR influence decisions that necessarily hold the potential to topple companies, but how we choose to apply integrity and courage in our work, ultimately determines our character.
This webinar is designed to help compensation and HR professionals better understand our role in the organization and how important it is for each of us take the risk and act with integrity, courage and character. The act of integrity and courage encompasses a willingness to constantly seek to engage in a “conversation of equals” with your manager, executives and employees within the company. This requires developing the ability to move to a level of conversation that allows you to provide the best advice and counsel and help managers make good decisions. We will review how the world of compensation (including the regulatory environment) has changed over the last thirty years and the obligation it places on compensation leaders to deliver solid advice and counsel.
NO ARCHIVE WILL BE POSTED FOR THIS WEBCAST AND IT DID NOT MEET THE REQUIREMENTS TO QUALIFY FOR CERTIFICATION CREDITS.
Many organizations use spreadsheets or in-house solutions to plan, design and manage the business processes aligned with Sales Performance Management (SPM) and Incentive Compensation Management (ICM).
Sales Performance Management (SPM) comprise of three key business processes including Sales Territory Management, Sales Quota Management and Incentive Compensation Management. Each of these business processes requires in-depth analysis and reporting to properly assess the performance and health of the sales organization and each individual sales person.
Organizations that invest in best practices, automated business processes, and SPM / ICM technology are able to make better decisions based on ‘Smarter Business Analytics’ which in turn drives revenue and reduces overall commission spend. Sales organizations are able to make smarter decisions and adjust sales strategies from trustful and accurate outcomes from analytical reports.
Do you know which sales territories are in jeopardy of missing quota? Do your sales representatives have centralize access to their commission earnings? Can you determine which products are most successfully selling in which region by which sales representatives? Are you compensation plans aligned to your sales strategies? There are many important decisions that need to be made and you need to make ‘smart business decisions’.
By implementing the best practices, automating business processes and adopting SPM / ICM technology, sales operations and compensation teams are able to track, monitor and adjust their sales territory coverage model, manage target quota allocation through to actual achievement, drive revenue and reduce the associated cost of compensation spend. Sales operations and compensation teams are able to makes ‘smarter business decisions’ to the difficult questions.
Join Kevin Gray, Product Marketing Manager from Varicent, an IBM Company to learn how best practices, automated business processes, and SPM technology can help your organization achieve smarter analytics in sales territory, sales quota, and incentive compensation management.
While no other function can boast a more direct impact on the bottom line than sales, most companies devote little resource to sales incentive plan design, and fewer have in-house expertise in this area. Poorly designed sales incentive plans reward the wrong behaviors, misdirects a sales force, can lead to talent exodus. Well conceived and executed sales incentive plans drive the right sales behaviors, rewards the right outcomes, and can propel a sales force to higher levels of performance.
This presentation will cover the sales incentive design process from a best practice perspective. I’ll discuss essential factors to consider and design tenets, the steps in the design process needed to ensure good plan design, and some examples of what good plan design looks like are provided. The presentation will also cover plan design from an Industrial Psychology perspective…i.e., “What sales behaviors do we want to reward /drive through plan design”…What sales behaviors do we not want to reward?
This presentation will cover the following areas:
• Indicators that your sales incentive plans are not working well, or as intended
• Sales incentive design best practice
• The design process – best practice overview
• Choosing the right performance measures
• The importance of Financial Modeling
• When to use commissions, when not to
• How to ensure a successful plan launch
• Usefulness of conducting post-mortem reviews
This presentation will be followed by a question forum where attendees are encouraged to discuss their biggest challenges and priorities for their sales force. The speaker will invite participants to share their insights and suggest possible solutions to their challenges, as well as make some recommendations on how to tackle the issues posed.
This session is focused on how to set up a compensation program in a foreign country when a company has never had operations overseas before. It includes advice/information on:
1) Need to understand country labor/employment laws
2) Need to understand any cultural issues that might impact how you design your compensation plans
3) Understand what is “legal” versus what is “common practice”
4) Need to understand the local competitive market --- your competitors, unemployment rate, supply of the type of talent you need, etc.
5) How to select the best survey for the new country
6) How to navigate difficulties in using surveys
7) What is included in “base salary” and why
8) What corporate compensation decisions need to be made:
• Recognition awards for performance or seniority
• Individual or group bonus
• Whether pay position must be the same as U.S. or be competitive in the local market
• Whether salary structures should have the same local job grade as corporate or follow local market
• Whether bonus eligible jobs should be the same as corporate or be competitive with local market
9) How to develop a merit budget
10) The need to educate corporate management on the need for using different compensation design, plans and policies in the new overseas country versus overlaying corporate plans
This session is a very practical guide for HR people that are in the beginning stages of learning how to deal with international HR issues. The information provided will give HR 90% of what they will need to know for actually putting a new program in place. (The extra 10% allows for any surprises that cannot be anticipated!)
Incentive compensation is often the second highest variable expense after salaries. It is also the most powerful lever a company has to motivate the sales reps to achieve the company’s strategic goals. Sounds pretty important, right? Yet HR involvement in creating the sales plans is lacking or completely missing. You feel the pain when the sales compensation plan is broken but can be at a loss as to how to help.
Join Teanna Spence from Cornerstone Software, Inc. as she explains the role Human Resource professionals can take in helping your company create great sales compensation plans. In this session you will learn about the symptoms of a bad commission plan design, which often results in high turnover or inability to attract top talent to your company and many other issues.
HR should be more involved in the sales compensation process than just setting the right Target Total Compensation but often the involvement stops there. Learn about the unique perspective you as an HR professional can bring and how to help the commission plan design in your company.
With planning season around the corner there are things you can be doing today to prepare for this busy time. Your company may be changing focus next year, adding job roles or changing the sales organization which will change the sales compensation plan design. You will learn key strategies for communicating these plan changes. Even if there are no anticipant changes you should review the current commission plans. In this session you will learn tips on how you can get a seat at the plan design table and what you can do to improve your company’s sales plans.
Everything we say and do is communication. As is everything we do not. Better communications make the “top three” list of virtually every company, but budgets seldom follow the same priority. Even well funded communication programs often result in less impact than planned. Why is this? More importantly, what can you do about it?
When you determine corporate objectives and goals, you are setting the foundation for communication. When you design your plan, you are communicating what your company cares about. When your executives and managers act they either communicate an agreement with your compensation communication or they specifically tear down any communication you have put in place.
We have created a simple structure for improving communication. Discover a new and immediately actionable 8-step approach to communications that will transform how to plan, act, think and talk about your compensation programs. This presentation introduces new informal survey data, involves the audience through live polling functions and links design, testing, measurement, implementation, measurement and more into one easy to use model.
Learn how repetition and patterns, words and pictures, numbers and details will allow you to immediately improve your communications and create a long-term revolution in how your employees (and management) understand (and appreciate) any and every aspect of compensation, without spending much time or effort. Get practical action items based on new research on total rewards communications. Leave with new data, a communications effectiveness checklist and a "fill-in-the-blanks" project plan to get started in the new compensation conversation the day you attend the conference.
Focus Level: Strategic/Tactical—50/50
Determining the market value of a specific job is a key task of a human resources and compensation professional when the company believes in paying competitive wages. Knowing how to set competitive pay is an essential element in order to attract, retain, and motivate the qualified talent. A consistent and effective methodology that measures the market price and gauges what other companies are doing ensures that your company recognizes the market value of positions and uses that data to develop appropriate pay levels.
There is a plethora of published survey data available to provide key information, and how best to use this information requires a degree of expertise and analysis. Join us during this informative session as we describe the process for conducting a competitive market pricing analysis using a variety of resources. The webinar will focus on the following aspects:
• Defining a compensation philosophy and pay position
• Key terminology for market pricing
• What information you need in order to proceed with market pricing
• Finding accurate salary data using reputable sources
• Ensuring job comparability through the use of up-to-date job content
• Evaluating executive pay within the marketplace - a more detailed analysis
• Examining hybrid positions
• Conducting the analysis - calculations used to determine a central tendency
• Determining market value
• Using data to create a salary structure
Participants will learn the resources available to them for market pricing, including sources for published surveys, availability of subscription databases, direct peer data, and other reputable producers of pay data, so that the analysis can be solid and provide for a critical look at competitive compensation.
In late 2011, Aberdeen surveyed approximately 300 organizations to learn about their sales performance management practices. In the study, Aberdeen found a strong correlation between Sales Performance Management System usage and best-in-class organizations achieving higher sales margins and increased management visibility.
Learn how Best-In-Class firms utilize Sales Effectiveness solutions to provide a combination of team collaboration, employee engagement and proven human capital management protocols to incent, reward, coach and develop their sales reps and leaders.
Attend this pre-recorded webcast and take the first step to equipping your sales team to win at each stage of the deal cycle, every time. Hear how best –in-class organizations are adopting sales performance management practices and compensation strategies to deliver superior results around hitting quota, growing average deal sizes and revenue, and shrinking the all-important sales cycle.
During this webcast you will learn how companies that have utilized Sales Effectiveness solutions have outperformed non-users across key areas such as:
• 83% of sales reps achieved annual quota in the last measured year; compared to 22% among laggard companies
• 23.1% average year-over-year growth in corporate revenue; compared to a 5.9% average year-over-year decline in corporate revenue for laggards
• 9.7% average year-over-year improvement in average deal size; compared to a 0.4% average year-over-year decline in average deal size for laggards
• 1.4% improvement in (reduction of) sales cycle; compared to a 7.1% worsening (lengthening of) sales cycle for laggards
CallidusCloud is the market and technology leader in sales effectiveness and cloud computing. Our customers gain a competitive advantage by maximizing sales cost efficiencies and driving improvements in sales effectiveness.
The non-profit environment is continuing a shift toward efficient performance, quality service and reduced costs. Leaders are retiring, planning for succession and transitioning. Healthcare reform is clearly here to stay. In healthcare, young physician leaders, high tech entrepreneurs and others continue to innovate, offering solutions and approaches supporting efficiency and efficacy while striving to retain the intangibles of compassionate, committed patient care.
Apart from these changes, higher education, foundations, healthcare, religious-based organizations and other non-profits face increasing scrutiny of executive compensation and IRS audits. Under IRS Intermediate Sanctions, boards and managers face personal penalties for unreasonable compensation. Balanced against these constraints, an organization sometimes needs to be innovative and pro-active to attract and retain needed talent.
Sometimes an organization needs to pay above average for turnaround talent or to reward outstanding performance. How can executive compensation be a conversation rather than a source of irritation and discouragement?
• How can compensation support changing objectives and innovation? Do compensation trends merely follow operational and systemic change, or is compensation a tool to foster change?
• Why are some organizations risk-averse while others embrace incentives or adapt successful ideas from other industries?
• From a practical perspective, how can Lean, Six Sigma and other initiatives offer incentive opportunities to align the organization?
• Are the roles of physician executives, physician leaders and physician practice administrators changing?
• How can trustees and CEOs welcome the talents, ideas and perspectives of physicians while best aligning the organization? Entrepreneurial and Lean/Continuous Improvement thinking?
• Is executive compensation shifting away from protective benefits like severance and capital accumulation at a time when making executive decisions is even more risky and leadership decisions are more complex? Why?
• Are board perspectives on leadership qualities changing? How can executives prepare for this?
We encourage Nonprofit Board Members, Trustees, Directors, Presidents and CEOs, CFOs, Executives, HR Executives to learn more about this topic.
There is no surprise that 89% of managers believe employees leave for more money, while 88% of employees actually leave for reasons having to do with the job, the culture, the manager or the work environment according to Leigh Branham author of The 7 Hidden Reasons Employees Leave: How to Recognize the Subtle Signs and Act Before It's Too Late.
In a Leadership IQ Study, it was found that 46% of new hires fail within the first 18 months and only 19% of them achieve success in their new roles. Only 11% of the new hires left because they lacked the technical skills; the major reasons for turnover are poor communication skills, lack of motivation and cultural misalignment.
Both of these studies support a Gallup Poll that 71% of workers in the United States rate themselves as either “Not Engaged” or “Actively Disengaged” with a major shift by age group.
In this session, join Lynn Dessert - Executive, Team and Career Coach, Leadership Breakthrough, Inc. were she will discuss how turnover can be approached strategically by introducing a targeted job on-boarding process. If you are thinking of the traditional employee on-boarding programs that have been used for the last twenty years, think again.
The fact is that reducing turnover and increasing employee engagement requires the input of compensation specialists with understanding in motivation, reinforcement and performance based theories. Your role contributes significantly to the design of the job on-boarding process or program. The bottom line is when employees are engaged, the company prospers and Human Resources can measure that outcome.
The term “compensation management” has several meanings and tends to be confusing among HR, compensation professionals, and management team members. How does compensation management and its related components fit into the Total Rewards equation for businesses and organizations? As a human resources or compensation professional, are you at risk by endorsing too much or too little compensation management structure for your organization? The weakened and slowly growing economy is placing greater emphasis on the balance and effectiveness of formalized compensation management systems that include base pay and variable compensation options. HR and compensation professionals are being tasked with developing and implementing compensation management programs that foster company/organization goals and reward the employees who are contributing to meeting these goals. In this presentation, Blair will refer the experiences of two companies, one in the transportation industry and one in oil and gas sector. Both companies have between 5,000 and 7,000 employees. He will also refer to municipalities and medium-size private organizations with 200 to 1,000 employees. Using these examples, he will help attendees understand the importance of a solid base pay compensation program including internal and external factor analyses. HR professionals will gain greater confidence in their ability to determine when to recommend a formalized comprehensive compensation management system to management, and how to sell that idea to management when appropriate. Blair will discuss the dynamics of total down directed compensation management as opposed to gain support for a formal compensation management at the managers and directors level of the organization.