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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 June 6 & 7. 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. A calendar of future events will be shared so that members can pre-register now to avoid future schedule conflicts.
As a global company, job titles were found to be used in dramatically different ways across the world at National Starch & Chemical Company, a subsidiary of the ICI Group. This issue was most clearly in evidence when trying to plan developmental expatriate assignments. The need for greater title consistency was highlighted as talent was shared and redeployed across businesses and regions. There was no level playing field to ensure that a scientist, process engineer or production manager, for example, had the required background, level of experience and an expected level of contribution regardless of which business an employee worked for or where they were stationed. ICI’s HR vision was to redeploy hi-potential talent around the world as needed to turnaround underperforming businesses, and the global career ladders became a most tangible step towards realizing this objective.
Periodic employee surveys had consistently revealed that significant portions of the population felt promotions frequently did not go to those most deserving. The career ladders marked a concerted effort to provide clarity around the central question: “What do I need to do to get to the next level in my career?” I’ll reveal later in this article how the global career ladders were specifically designed to answer this fundamental question, and how once implemented they were used to gauge employees’ readiness for promotion.
The Global Career Ladders were designed to support three guiding principles:
1. Establish acceptable career band and position hierarchy structures to be used by all businesses across all regions
a. Set consistent job standards
b. Establish position requirements and uniform guidelines for recruitment
c. Facilitate consistent standards and expectations for performance
2. Provide job relevant examples of the required knowledge, skills, abilities and behaviors an employee must demonstrate over a period of time to be considered for promotion
3. To serve as lasting policy, thus, it must support our corporate culture while incorporating sound market principles
4. Why they were successful
Businesses that have moved into the global marketplace often spend a considerable amount of time and capital setting up regional operations. Finding the right talent to run these businesses is a critical concern, and we often find that companies are willing to pay aggressively for the right fit. As a regional business starts to take root, it is important to bring its pay practices into alignment with the rest of the organization’s pay-for-performance strategy. Doing this effectively and knowing the major factors of concern are critical when rolling out a global pay-for-performance strategy.
This presentation will cover:
1) Preparing your human resources infrastructure for global operations
2) Creating pay for performance guiding principles to be shared among regions
3) Maintaining similar compensation plans that are suitable for each country
4) Benefiting from a shared global performance program
5) Developing a single job structure that can be used across all regions, and
6) The importance of scalable global software solutions.
Performensation invites you to join Sam Reeve in a discussion on Global Pay for Performance. During this webcast you will learn the foundation systems and processes that are necessary to establish compensation and performance programs across the globe. The global expansion into markets of opportunity is a critical growth period for many firms and ensuring your talent is supported by a high performing compensation and performance program is vital. If you are already a part of a multinational company or are soon planning to reach beyond the borders, this webinar will provide you with essential knowledge that you can use in your global pay for performance planning process.
In this comprehensive training, Sean will provide HR professionals with the most important information they need regarding wage and hour issues. He will begin with an overview the core provisions of the Fair Labor Standards Act (FLSA) – including minimum wage, overtime, and recordkeeping requirements—as well as other relevant laws pertaining to wage and hour requirements. Next, Sean will delve into the nuts and bolts of employee status and classification, how to define and count hours worked, how to properly administer and enforce meal and rest periods, and overtime.
Viewers can expect to learn how an employee’s status dictates his or her wages and hours, and the differences between how volunteers, independent contractors, interns and trainees under FLSA. Viewers will also learn how to properly classify their employees as exempt or non-exempt, different kinds of exemptions, and penalties for improperly classifying employees. How to properly define and count hours worked, how to properly administer and enforce meal and rest periods, and how to calculate overtime will also be covered.
Do employees need to be paid for activities performed as preparation to work, such as putting on protective gear or turning on a computer? When must an employee be paid for travel time? What should, or can you do when an employee works impermissible overtime? Sean will provide answers to these questions, and more.
He will end the presentation with a discussion of relevant case law to help viewers better understand the issues at hand, as well as the regulations with which they must comply.
This session will serve as a discussion of current and emerging trends that we are seeing in the Executive Compensation environment as well as a wrap-up of the 2013 proxy season. Say on Pay voting, the increasing influence of proxy advisory firms like Institutional Shareholder Services (ISS) and Glass Lewis, and enhanced and growing disclosure have all dramatically changed the landscape of the public company’s HR team’s role in managing the executive compensation process. Private companies too have responded to these same trends as their pay practices continue to evolve toward those of public companies, driven in part by their Directors also sitting on the Board of public companies and seeing them first hand.
Specific topics to be covered would include:
- Incentive Program Performance Metric Selection
- The Continuing Emerging Role of Realizable Pay
- Compensation at Executive Terminations
- CEO Succession and Contract Considerations
- Navigating the Say on Pay Process
- 2013 Proxy Season Wrap-up and Lessons Learned
The presenters will use their experience consulting on such issues to public and private company clients to cover these trends and their implications for HR and Executive Compensation professionals via case studies and an interactive discussion.
In addition to relevant case studies, the presentation will include the latest Pay Governance research related to pay and performance alignment, Say on Pay and ISS results, and other topics. Additionally, we will show real life examples of how companies have discussed such issues and topics in their proxy CD&A’s to communicate with shareholders and help with the Say on Pay voting.
How do you keep your sales compensation, awards, and recognition program effective and relevant? In today’s world, where there is continued uncertainty around sales prospects and an ever-evolving landscape of competitors and products, it has never been more important to stay up-to-date on trends and patterns. As will be discussed, there is no off-the-shelf answer for many sales rewards questions – the right answer depends on the company. This is why the crux of this session is the open discussion with companies involved in similar struggles and opportunities as yours.
This session will help to answer the question of program relevancy by providing participants with need-to-know trends and innovations on sales compensation, awards, and recognition. HR and Sales Compensation professionals alike will find value in the content and, perhaps more, in the subsequent open discussion. The open discussion around Trends and Patterns in Compensation Planning and Award and Recognition will focus around movements to revenue and profit based plans, the mechanics behind these measures (e.g. linkages, caps and thresholds) and new monetary and non-monetary award and recognition programs. Specific topic areas include:
• What measures are companies using in their compensation plans?
• What is more common – quota based compensation plans or commission based compensation plans?
• Which compensation plan works best and in what situations?
• What is the current use of Stock grants for sales, signing bonuses and SPIFF and award perks?
• Are geographic pay differentials still valid for sales?
• What are some of the monetary and non-monetary award and recognition programs organizations are using?
Following participation in this session, participants will understand what other companies are doing in regards to mechanics of sales compensation plans and new types of award and recognition programs.
The HR and Finance departments normally have different objectives when issuing stock-based compensation for employees. The Finance department’s primary objective is to reduce the overall cost for the company, while the HR department’s primary objectives are to link the employee performance to their compensation and increase the employee retention. Bridging the gap between these two conflicting objectives is not an easy exercise, and unless handled properly will result in negative compromises from both sides.
This presentation presents the techniques by which the HR department can create a plan that achieves the objectives of both departments while retaining the perceived value of the stock-based compensation for the employees. This critical balance is not easy to achieve but is still possible. Some of the techniques that the presentation will address include:
• The frequency of the grant issuances
• The type of the grants issued (options, RSU’s, PSU’s, …)
• The introduction of performance conditions associated with the grant vesting
• Management of the grant term
• Management of the grant strike price
• Management of the time-based vesting schedule
Properly using these techniques will result in reducing the overall expenses in the company financial statements, while effectively increasing the perceived value for the employee about the received units.
At the end of the presentation, the audience will be able to:
• Differentiate between the different types of grants and the impact of each (at a high level) on the financial statements
• Fully understand the impact of the different setup parameters on the financial statements.
• Have a better appreciation of the needs of the finance department and how to fulfill these needs.