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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, June 11th & 12th and September 10th & 11th. Archives of events are available on www.HR.com.
To date, over 7,500 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 December 3rd & 4th. 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.
Total compensation is typically over two thirds of an organization’s budget, yet compensation practices are seldom reviewed or measured for effectiveness. Employee engagement and other research has clearly identified that having a clear total compensation strategy, appropriate practices and especially effective employee communication are important elements in a portfolio of rewards to attract, retain and engage employees.
Many organizations struggle with compensation related issues, such as how to: achieve internal equity in their pay plans and practices, motivate and reward employees with rising benefit costs and shrinking payroll budgets, and contend with richer competitors for key talent. Most HR departments also do not regularly evaluate important metrics to determine current compensation hot spots and proactively address future external or internal issues.
This presentation will cover the various elements total compensation, key compensation policy and design decisions, and how these can be customized for your organization to achieve your strategic goals and within your budget.
The four total compensation elements (including base salaries, incentives and employee benefits) will described as well as typical benefits programs (health insurance, retirement plans, time off, life and disability insurance)and their usage and impact on employee satisfaction and engagement.
Learn the key issue and decisions you should make to design a total compensation plan, to achieve goals of internal consistency, market competiveness and rewarding desired performance to align employee results with strategic and tactical goals for your organization. The presentation will outline the typical change in pay methods and variable pay options and the advantages and drawbacks of each method, and how to move to or improve pay for performance.
At the end of this session, you should understand the basics of total compensation, how to evaluate the effectiveness of your current practices, and how your organization can better use its resources to attract and retain talent.
THIS IS A DEMO - NO CERTIFICATION CREDIT TO BE GRANTED.
If you need the best possible information and the best possible analyses in order to hire, motivate and retain highest quality people, CompXpert is the software solution for you.
Most companies agree that hiring, motivating and retaining highly skilled workers is fundamental to their success, but few approach their labor market as rationally as they do their consumer markets. The key to maximizing competitive advantage is combining all available information to properly allocate your internal labor resources against the external labor market where you compete for talent.
Once the commitment has been made to use external benchmarks to guide compensation, the struggle for the compensation department is to perform the analysis as productively and efficiently as possible. How can you possibly manage, evaluate and analyze all the various types of data available? How do you balance your internal value and labor strategy against the external market for pay decisions? Is your evaluation process efficient and reliable? Is the vendor subscription data you gather at a high cost reliable? For sake of getting the process complete, do you just quickly match your job titles to the market titles, call it good and then run out of time to analyze your competitive strategy?
CompXpert helps companies from all sizes and industries to get the best value out of their market data. With CompXpert you and your compensation team are able to quickly:
• Prescreen your market data with over 30 individual metrics that ensure the integrity of your market data investment
• Market price jobs and develop market composites for all components of Total Cash
• Develop a comprehensive picture of the competitive market position for your company jobs, both for on-off valuations and the annual complete benchmark development process
• Design new and update existing salary structures using sophisticated analytical tools
• Apply a flexible but consistent labor market strategy throughout the enterprise
• Organize your survey submission process – not just a simple export of matched employee data but with a full featured submission, collect and add to the vendor request general policy practices in the vendors exact template with all survey job profiles and descriptions.
With CompXpert, making better competitive pricing decisions is a snap. We have a CompXpert solution that not only fits your analysis needs today, but will grow with you as your needs change both tomorrow and far into the future – all at a price that fits your budget perfectly!
This presentation was designed and written with HR Professionals in mind. The presentation begins with an introduction to stock options which outlines the two main types of options for stock in detail. The two dimensions of options are discussed along with the reason why companies offer stock based compensation (SBC). The presentation then flows into the types of SBC and the details involved in how they work starting from the board of directors and ending at the employee. The material delves deeper into SBC with methods of expensing them and Employee Share Purchase Plans. ESPP’s and their benefits are explained in detail explaining by both companies and employees like them. The presentation goes on to talk about the global trends for the stock options mentioned above.
Stock option pricing is explained as well as the factors that impact call option pricing such as the current price, strike price, time to option expiry, expected interest rate, expected dividend and expected volatility. Once the formulae are explained, an example of expense recognition is outlined involving straight-line amortization and accelerated amortization. Historical method, empirical method and simplified method are detailed under the expected life estimations followed by the impact of options on financial statements. The conclusion of the presentation describes how options have two key impacts on these statements which include debiting expenses and crediting equity, retained earnings reduction, notes to financial statements and the increase of the number of diluted shares. After the presentation, the floor will be open for questions from the audience.
When evaluating commission systems and return on investment (ROI) what are the hot metrics to include presenting your case? How can you determine whether you are truly seeing the benefit of your system? In the traditional sense of incentive compensation people look to cost saving benefits like error correction, shadow accounting, end user experience and ease of changing plans for ROI. Today organizations are providing a more substantial ROI by combining Coaching with Commissions systems to realize full ROI potential. By focusing on key coaching techniques many organizations experience an increase in revenue that provides an even more compelling case. As noted in the Sales Executive Council there is no other productivity investment that approaches the benefits of coaching when it comes to bolstering activity. "The real payoff from good coaching lies among the middle 60 percent - your core performers," he wrote for the Harvard Business Review. "For this group, the best-quality coaching can improve performance up to 19 percent. In fact, even moderate improvement in coaching quality ... can mean a 6 to 8 percent increase in performance across 50 percent of your sales force. Often as not, that makes the difference between hitting or missing goals." This presentation will walk through how to determine the core cost savings of implementing a commission system and the key considerations when implementing a coaching system to determine revenue enhancement. During the presentation you will be provided with examples including the above metrics, along with a few others, to try out or ask questions about at the conclusion.
THIS IS A DEMO. NO CERTIFICATION CREDITS WILL BE GRANTED.
There's more to incenting your sales team than just rewarding revenue. You need something that will motivate the team to perform beyond expectations. Today's complex selling environment demands that HR professionals implement compensation and incentive plans geared toward achieving competitive levels of growth. We'll show you how to keep your sales team focused on all the right measures including tips based on proven research to help HR professionals drive winning behaviors and develop focused, diligent reps who consistenly reach quota. When done right, automating your incentive compensation boosts rep productivity and company profits. You'll potentially see 36% faster revenue growth. When done wrong, you waste time, energy and resources. What's worse: you might actually discourage your reps from selling. We'll touch on some best practices for incentive plans:
* Choose effective and clear incentives to align reps with company goals. You may consider tailoring incentives to your unique sales force for even better results.
* Communicate your plan thoroughly. By incenting right - and effectively communicating changes - you'll help sales reps sell more.
* Pick the right metrics for your growing organization. Make sure they motivate success and deliver the results you want.
* Use an automated dashboard. Everything from prospect to payroll is visible for you and your reps. You can see how the team is progressing towards goals, how the product mix is being sold, and how industries are being penetrated.
Instead of guessing what will motivate your team, you'll know the best rewards to get your reps to move the revenue needle.
What is the role of a C-level in the sales compensation design process? To poke his head into a conference room and ask a few questions, or to become involved at certain key points? After all, sales compensation is the single biggest expense for most companies with the motivational power to move financial mountains, but many executives squander this opportunity to connect the business strategy to the sales organization. Based on the new book What Your CEO Needs to Know About Sales Compensation, due in bookstores in January 2013, author and managing partner of SalesGlobe Mark Donnolo outlines when and why highly successful companies involve the C-level in the design and implementation of their comp plans.
The webinar focuses on the top challenges in companies today; offers logical leadership approaches, tools, and models for dealing with each of these issues; and shares stories from top sales executives in leading companies. Before we address these challenges, we’ll take a look at the big picture around the Revenue Roadmap as an important foundational point. Too often, sales organizations start with commissions and try to figure out how much they can alter payouts either to save money or to drive behavior in a different direction. But that’s exactly the wrong place to start. We want to start by asking the big questions: Where are we going with the business? What’s important to accomplish from a strategic perspective? How do our sales roles support our goals? How does sales compensation align with the strategy and sales process? We’ll build on a base of big questions and share some examples from real companies and their C-level executives who leverage the power of sales compensation.
Does your company's executive compensation plan allow your company to recruit and keep the executive talent that it needs to succeed? Does the plan align the senior executives interests with the owners of the company? Does it encourage the right behaviors and the appropriate levels of risk? Is it correctly aligned for not only the CEO but also for the other executives on the senior leadership team?
In order to attract, retain and motivate the right executive talent, it is imperative to have a competitive and well thought out executive compensation program: competitve base salaries, benefits and perks as well as bonuses and equity incentives that are tied to the right short term and long term outcomes.
Private companies have unique challenges vis-a-vis public companies with publicly traded shares, but private companies also have advantages if structured appropropriately.
This session will provide highlights from ChiefExecutive.net's definitive CEO and Executive Compensation In Private Companies Study and share key benchmarks for salaries, benefits, perks, bonuses and equity incentives for CEOs and other senior executive positions (including the heads of HR, Finance, Operations, Sales, Marketing and R&D) and how they vary by sizeof company, industry, type of ownership and geography. The session will also share best practices in setting up and managing executive compensation programs.
This session will focus on some of the practices that private companies can adopt to be competive with public companies and private equity backed companies to be able to recruit the best executive candidates and keep them engaged and motivated.
Key takeaways from this session will be:
1) the median salaries, bonuses and equity incentives that private companies are paying their CEOs and other senior executives (heads of HR, Finance, Operations, Sales, Marketing, R&D, etc.)
2. Best practices in designing and managing executive compensation plans to ensure that your plan is competitive and attracts, retains and motivate the right people and the right behaviors
“Meeting Compensation Goals by Capitalizing on an Underused Workforce” provides a cohesive, simple plan to help HR professionals develop and maintain an entry level talent pool from an underused workforce. This talent pool will significantly reduce compensation outlay for salaries over a period of time, as it facilitates achievement of compensation budgetary goals, while cultivating qualified candidates for succession within the company. This session outlines a plan which includes alternative compensation and benefit strategies for this workforce as well as candidate development and placement matching within the company. This workforce is often used for entry level work without consideration to future roles within the company and with a lack of direction and career-guidance to encourage them to return and/or stay with the company. This workforce is usually looked on as temporary, transient, and for the most part unskilled. But what happens when companies take the initiative to pull from this group and develop their skills; give them options for future and/or continued employability; and provide options that benefit not just the company but those within this group who stay with the company. “Meeting Compensation Goals by Capitalizing on an Underused Workforce” shows companies how to tap into this underused workforce in order to build and maintain a talent pool eager to not only come on board, but stay aboard and make significant contributions to the company. Today’s economic constraints call for compensation creativity at every level. In this session HR professionals find out how to maximize salary outlays while gaining a talent pool from an underused workforce; explore alternatives and options to grow a talent pool from this underused workforce; and consider trending data about this workforce.
Compensation management is one of the most critical and complex processes for a global company: Why is it critical? Not only because it often represents the largest part of your company’s total costs, but more importantly because it is one of your company’s most effective tools to drive its human capital. Why is it complex? Because local markets vary in terms of talent expectations, pay practices and local regulations, not to mention issues of language, currencies, and culture. To get local buy-in while retaining control and meeting business objectives requires a compensation management system that provides a consistent framework, but with flexibility to adapt to local needs.
If you are a global company, you have likely outgrown the ability to use Excel to manage compensation. Excel is not designed to be an enterprise platform, and so requires substantial manual effort and presents challenges in terms of data accuracy and reliability, security, scalability, maintenance, reporting, transparency, and auditability. It also requires you to use additional methods to handle related compensation processes such as plan communication, workflow and approval tracking.
The limitations of Excel, manual processes, and inflexible home-grown systems place limits on your ability as an HR business partner to use compensation effectively to support company strategy.
In this session, we will see how an enterprise solution can be deployed to optimize global compensation management and improve flexibility, while retaining the benefits of Excel and putting compensation management in the hands of HR business users, without compromising on functionality and flexibility, and without relying on IT to build and maintain a system.
We will be looking at several global industry leaders who were using Excel before switching – in the last few years – to global enterprise systems, with or without global ERP implementations.
Excentive International, a company whose mission is to allow large enterprises to address compensation management with state-of-the-art enterprise solutions, will present this session.
In this session, we will analyze the issues these large companies were facing while using Excel. We will then review what actions they took to replace it with a state-of-art automated solution. Finally, we will review the outcome, in term of benefits and issues of such implementations.
Key Performance Indicators (KPI's) are performance metrics that drive important management decisions. This strategic Webinar educates attendees on why to utilize KPI’s, teaches the difference between Measures, Metrics, and KPI’s, reveals the top KPI’s for sales force effectiveness, and shares tips on communicating KPI’s to the sales force.
While every organization is different, the course highlights four strategic reasons for using Key Perfomance Indicators. A clear, every day example using a car dashboard is shared to help attendees understand the difference between a Measure, Metric, and KPI. The speakers also present Gartner’s recommendations for groups of sales KPI’s. The course reviews the five elements required to have a good KPI and shares challenges that are faced when developing effective KPI’s.
There are many commonly used sales performance metrics, including total sales revenues, number of products sold, average order value, and year-to-date sales. Individually, these metrics yield significant insight, but management sometimes lacks deeper knowledge into how specific metrics impact overall business performance. However, effective KPI’s will increase efficiency, boost performance, and enhance sales.
Effective KPI’s are essential, but success also depends on a company’s ability to communicate is KPI’s in a meaningful way. The course highlights how technology can be leveraged to keep KPI’s in the forefront of the sales team’s mind, as well as enable sales teams and sales leaders to take proactive steps when KPI’s start to slip.
In short, by analyzing trends and relationships between individual KPIs, a more complete picture emerges than informs and enables more effective strategic decision making.
Now that the economy is slowly recovering for most businesses and has fully recovered for a handful of businesses where the upturns are exponential, company executives and HR managers are focused on retention of current top performers and employees with long-term potential.
This presentation will
1) define top performers,
2) identify some of the risks of losing top performers,
3) offer reasons why top performers are looking for other job opportunities and the fatal compensation mistakes made by organizations,
4) identify and present effective retention strategies and
5) provide high level national compensation trends as it pertains to the retention of top performers.
The retention strategies will include New Reward Plans, Merit Pay Plans, Variable Pay Plans, Incentives, Viral Pay Plan, Communication Strategies, Talent Management and Bonus Programs.
Insights from compensation professionals, consultants, and company HR executives have been gathered for this retention of top performers' presentation. This presention will include characteristics for top performers and why they are considered key talent and measureable impact players for organizations; How organizations are affected by the loss of top performers, the major concerns for top performers and why they are looking for other employment or leaving their current employers.
In addition, this presentation will provide information from a study by Dr. Dow Scott, Tom McMullen and Mark Royal on How to Treat Top Performers and common compensation mistakes from an article written by Stacey Carroll with PayScale.
Retention compensation strategies will be outlined from an article written by Richard Sperling and Neil Lappley. Two case studies will be reviewed where existing organizations needed to formal or revamp their compensation programs to retain top performers. This presentation will be finalized with a presentation of various compensation options to recognize and reward top performing employees.