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The Institute for Human Resources (IHR) Compensation Best Practices and Trends certification program launched on February 14/15 with a two-day virtual event. Subsequent events were held on June 6/7 and September 22/23 and almost 2,400 HR professionals have registered for our programs so far.
The purpose of this session is to provide you with an update on the webcast topics and speakers that will be presenting over these two days. 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. 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.
This strategic webcast guides attendees through a series of steps to follow in order to quantify the benefits of a new Sales Performance Management system. In today’s corporate world, it is essential to be able to present a clear and concise return on investment for all initiatives.
This webcast teaches attendees how to evaluate their organization’s current state and future state, including valuable formulas to monetize the costs and deficiencies. The course also provides detailed steps on how to create a comprehensive ROI calculation, as well as a proven approach on how to effectively present the ROI argument to the company.
The current state section covers analyzing costs and problem areas, with emphasis on Operations, Marketing and Sales; Finance and Accounting; and IT support. Formulas for calculating the cost of Shadow Accounting, commission overpayments, plan administration costs, sales personnel turnover, and payment disputes are reviewed in detail.
The future state section guides participants through the various cost options to consider between Software as a Service (SaaS), Hosted and On-premise solutions since each impacts the Total Cost of Ownership and therefore the ROI differently. Then the formula for estimating the Total Cost of Ownership is reviewed, as well as one time costs and reoccurring costs to consider.
All of these formulas then roll into the ROI calculation, the next area covered. Again, details are reviewed as participants are guided through determining factors to use for each cost and revenue recovery opportunity, the weighting of soft and hard costs and finally creating a ROI spreadsheet.
In summary, Best Practices for presenting a strong ROI case are shared.
Dan will present a discussion on current equity compensation design trends, executive and broad-based equity usage and where performance equity may be headed.
Equity Compensation is the most volatile, valuable and contentious component of most companies' total reward packages. Whether grants are being made to executives or down through an organization, the importance of these tools cannot be underestimated. Learn from a professional who has dedicated a good portion of his career to this topic.
Dan will cover how the use of restricted shares and units is impacting total compensation. He will also cover how the articles often misstate the growth of RSU usage by showing recent data that refutes growth in these plans.
The presentation will cover how and when are stock options being used. They are not dead and, in fact, you may be surprised by some of the data about stock options. Learn more about the features and design elements of typical performance equity plans. Total Shareholder Return (TSR) will be covered in addition to other common metrics used for performance-based equity. This presentation will allow attendees to do a high level evaluation of their own equity compensation plans to determine where there may be opportunities for improvement.
Dan is a frequent HR.com presenter and is open for any pre-event questions. He does his best to incorporate answers into the flow of the presentation and cite questions as he goes. If you want to learn more about what is really happening in the world of equity compensation, this presentation is a great place to start.
Many companies experienced a significant impact on their organization's compensation processes during the economic downturn. Now that conditions have improved, HR professionals are realizing that it is time to revisit their compensation structures to determine how it now fits into the new realities of the marketplace. Ensuring that pay is competitive, and recognizing changing and hybrid roles that have been created as a result of staff reductions, are important considerations in alleviating possible turnover issues in the future.
As a strategy, compensation programs must match an organization's mission, vision, and business plan, while complementing its culture and staff. Drilled down, the compensation structure needs to meet the very basic objectives of compensation: attract the right people, retain them so they may contribute to the organization, motivate them towards higher levels of performance, and focus them on achieving the right goals. Understanding what the marketplace bears as far as the values of the various compensation elements is critical in helping the HR professional design comprehensive compensation plans that meet these basic objectives.
Join us as we address the process for examining market competitiveness of compensation, and how this data can be used to structure various compensation programs for your organization. During this session, we will examine:
• The importance of the Compensation Philosophy and how it relates to market assessments and plan designs
• Methods for establishing market competitiveness
• Examining executive compensation
• Analyzing and interpreting market data
• Applying results to your organization
Lastly, we'll share insights on what companies should be doing to update and manage their compensation processes for 2012 and beyond.
As most of the companies are now evolving into knowledge organizations, hiring and retaining the right people has become the single most critical factor for organizational success. Further, compensation costs now constitute the single largest cost, amounting to as much as 60% of the total costs, at many organizations. Compensation thus must be viewed as a strategic tool to transform organizations, including an opportunity to save millions of dollars through strategic optimization.
Salary surveys, by providing market pricing information, are one of the key tools to achieve these objectives. Although most organizations use salary surveys in some way to assess or manage compensation levels, our experience indicates that most managers are not aware of the pitfalls and opportunities in using the data for compensation at a strategic level. It is not fully recognized that many salary surveys suffer from poor data quality or may not be appropriate to use for certain markets or jobs. At the same time, certain surveys can provide valuable information not only about market pricing but also about job structure design and labor distribution among various job levels. Salary surveys can also be used to determine the adequacy of internal equity structure.
The seminar will focus on practical techniques on how to assess survey data quality, how to select the right surveys and how to use the survey data properly. Properly used, salary surveys can be used to develop a strategic compensation structure that is likely to save millions of dollars, build the right workforce and gain competitive advantage.
Three things, among many, that you will learn:
- How to know if the survey data is of high quality
- How to properly use the survey data
- How to use salary surveys as a strategic compensation tool beyond simple market pricing
The Creative Quotient: Innovating Your Sales Organization and Incentive Compensation Solutions
Traditional sales organization and incentive compensation approaches often look to history or mirror competitor practices. In a changing market with evolving customer needs, companies need to develop solutions that respond, not replicate.
How can we introduce innovation to bring out new approaches to job design and incentive design that we haven’t considered before? A logic-based process with creative thinking can produce fresh ideas for your team.
This session covers proven approaches to job design and incentive design that marry the analytical with the creative to push your thinking and give you new ideas you can use. Mark Donnolo will draw upon research and case studies as well as some innovative approaches to shake up your thinking on both sides of your brain.
Key learning areas include:
• The Key Issues with Sales Roles and Sales Incentives Today. While business models are unique across industries, there are some common challenges you should understand. How can you apply learning from other organizations?
• The Logic of Sales Roles and Sales Incentives. Some proven approaches lay out the logic steps of evaluating and designing sales roles and sales incentives. Are you covering the bases?
• Understanding Functional Creativity for Business Solutions. Applying creativity involves practicality to work within your organization’s limitations. What’s the difference between expressive creativity and functional creativity?
• The Creative Quotient Process. There’s a method to unleash your team’s creativity to develop new solutions. How can you give your team a predictable creative process?
• The Principles of the Creative Quotient. Creativity had its parameters. What guideposts should we consider as we develop our solutions?
• Practical Application. Great solutions blend left brain and right brain thought. How have businesses used the creative process to create sales organization and sales incentive answers to their challenges?
Join Mark for this informative discussion and take away some concepts and tools you can apply immediately to innovate your organization and compensation thinking.
H. L. Mencken said that for every complex problem there is an answer that is clear, simple, and wrong. This wisdom is often ignored in the world of compensation and rewards. Business is very competitive, complex and hard. Talent and leadership is vital to the success of a business, and there is no shortage of opinions on managing talent.
So why do so many people try to ‘simplify’ their pay programs, and expect an alignment between talent and business results?
Often times, it is wishful thinking driven by administrative and technology challenges. We have long realized that business wants and needs innovative rewards programs to win the war for talent, but they have difficulty administering complex designs. The unfortunate reality is that the business is tied to the capabilities and functionality of systems that deliver a standard process. Their systems wind up driving rewards programs. We believe there is no competitive advantage in doing things just like the competition.
There are two keys to getting compensation right –
1. having the right metrics that drive the right performance
2. having the enabling technology to deliver the information and process at a reasonable cost
HR Value, LLC will lead a discussion with specific examples from a variety of industries. We show how the most complex Reward modeling, planning, budgeting and plan administration can be carried out by managers exactly to their specifications, with no need to purchase additional expensive software or make system modifications. You can take the most complex process and give your business partners “click of the mouse” ease, all at a cost that is a fraction of system modifications or additional software.
There is no shortage of information in any company. What is missing is the enabling technology to bring the data into an actionable view at a reasonable cost. Without the enabling technology, information integration and analysis is turned into more work - a manual process, multiple ‘cut and paste’ and repetitive tasks. This is where the hours in the day are stolen from higher value work. We show how you can automate repetitive, time-intensive tasks, and take the hours and cost out of any complex compensation process.
The last two years have brought major changes in the legal and regulatory environment regarding compensation discrimination, and
there are even more changes on the horizon. These changes encompass both individual claims and claims of systemic discrimination, and affect the policies and procedures employers need to have in place to combat discrimination.
The compensation review is a valuable tool in the employer's risk
management arsenal, yet few organizations put this tool to use. In light of the new regulatory environment, and the additional changes coming within the next 12 to 24 months, employers can no longer afford to ignore this important tool.
In this presentation, we discuss the new face of compensation regulation and the challenges employers are now facing with respect to internal pay equity and discrimination claims. Each stage of the compensation review process is presented, from the planning stage through the application of analysis inferences to business processes. Common pitfalls and data issues are discussed, and the importance of grouping employees properly for comparison purposes is emphasized. Concrete examples drawn from real-life situations are used to illustrate each step in the review process and to highlight the effects of common pitfalls.
The presentation concludes with an action plan employers can use to outline their compensation review. The action plan includes a discussion of the kinds of data required for a review, the assessment of internal processes for data collection, records creation and retention, and guidelines for a proactive compensation review program.
Top 10 Tools, Tips, And Tricks To Transform Your Sales Compensation Program:
Revenue drives every company and sales drives new revenue. And while most companies try to align commission and incentive plans with company goals, plan administrators are not always provided with the tools and training needed to effectively support programs as they grow in size and complexity. The result can significantly affect revenue, morale, and program cost. Learn how to identify the most impactful areas of your commission and incentive plan administration and what free tools are available to help manage critical functions.
With over 15 years of experience in incentive management and commission application development, Kirt Phillips, founder and principal of Core Compensation, will illustrate how the key to a successful incentive pay program is to identify the areas most critical to success in administering your plan and ways to make them more effective. He will share several tricks and tools he has employed at a variety of companies to turn some of the most challenging and contentious aspects of plan administration into program successes.
Included in this discussion are:
- The most powerful tool for sales plan administrators.
- Sometimes paying more can cost less.
- Ways to make the sales team become a partner in the process.
- Risk management - how exposed are you?
- How to design effective special incentives and rewards.
- All tools demonstrated during the presentation will be available free to all attendees.
Case studies will provide specific examples of the application of these principals to real world situations and the ensuing positive results.
This session will provide an overview of the compensation management process for businesses and organizations where business strategies and expected outcomes drive the total rewards compensation systems, options and packages. Participants will view a high level planning, implementation, outcomes and control chart and a more detailed compensation management process chart related to total rewards processes that support and influence business strategies and expected outcomes. This session will emphasize the importance of base/core compensation management components as the foundation for an effective and transparent total rewards program. A foundational compensation management system will include consistent, comprehensive and compliant job descriptions that described the positions required to implement and achieve business/organizational strategies and expected outcomes which are measured by performance/evaluation management processes. Variable pay, commissions and benefits are layered on top of the base/core compensation management program to complete the total rewards program. This internal compensation management structure and process is compared and evaluated by external market compensation and benefits studies to validate and determine its competitiveness for the attraction and retention of competent employees.
The Case Study will focus on how the compensation management process is more efficient and effective through the use of specialized software which uses a proven system that develops and maintains a base/core compensation structure for businesses and organizations. Managers, supervisors and human resources professionals are more likely to maintain current job descriptions, job ratings and internal pay structures when this process is automated through software technology.
Conference attendees will see the conceptual high level diagram of an effective total rewards system and how compensation management process provides the foundation for all the additional compensation and benefits that become a total rewards package.
“HR is from Mars and Finance is from Venus.” Does this sound familiar? This is really simple and straightforward: HR and Talent Management projects do not get funded because they don’t speak the language of finance and it is finance that controls the cash. Attendees of this session will learn the basics of how to construct the discussion with Finance that will deliver a clear message, demonstrate understanding and empathy and return immediate benefits: 1) Increase the level of collaboration between HR and Finance; 2) the quality of the dialog by conducting the discussion in a “dialect” that Finance understands; 3) Improve the quantity of positive outcomes with your financial counterpart’s participation.
The communication framework is called HR Metrics and simply put it uses GAAP principles to make accurate predictions about the success or failure of an HR/TM project in the future. Cash to fund projects is a finite resource that every department is vying for a piece of. Since competition is as fierce internally as externally, by speaking the language that Finance understands, your success rate of getting projects funded will increase proportionately to the amount of projects that get funded company wide.
Consider the following scenario:
When HR purchases become necessary, Finance is the department that must allocate the budget. But like the book, “Men are from Mars and Women are from Venus," Finance and Accounting understand how to interpret and record economic events, but when asked to look into the future, they guess with relative uncertainty. Notwithstanding, programs do get funded. What is the secret? Your internal competitors have projects they want funded also. The difference is they know how to ask in a way Finance understands better than HR.
But what is the proper amount of funding to ask for? How does your HR Department deal with the statement, “There is no money in the budget,” or “Please deliver a business case demonstrating need.” Traditionally HR just turns and walks away. In other cases, in order to answer these and other questions, talent managers invite in a half-dozen vendors over the course of several weeks or months, get proposals and then present a “business case” which is really not a business case at all but a “statement of need” and use of funds. The result is often the same: finance denies the proposal, offers funding for less than a quality purchase would cost and, as a result, important talent programs which need to be funded, never get off the ground.
Why does this happen? Some companies literally do not have the cash or cash-flow to make the purchases. And while we are in a very difficult economic time, this is less often the case than most HR practitioners know. The Wall Street Journal reported on November 7, 2011 that America’s corporations have in excess of $1 trillion in cash on their balance sheets. So why are the conversations so difficult? Further, why do HR/TM practitioners suffer the pain and anguish of doing manual or spreadsheet laden tasks, when the cash for process improves, programs and technology enablement is clearly available?
Attendees of this session will find out why.
Sales performance management is not a new practice. In fact, it has been around for so long that many people have lost sight of its main purpose; to manage the performance of your sales team. Tracking numbers is certainly important to your company’s mission, and is critical for measuring ROI on your sales programs. However, it doesn’t help with hiring the best sales people, training your sales force, and developing a consistent approach to your sales strategy. That is where sales coaching comes in.
The three most critical components of sales coaching are data aggregation, performance analysis, and developing a consistent approach that can be implemented repeatedly across the sales force. The coaching lifecycle has five main steps:
• Defining your metrics. What’s important to your company? What characteristics are imperative vs. advantageous?
• Aggregating your data. Where do you begin looking for data? Where do you store it?
• Performance analysis. How does you current sales force measure up against the metrics you determine? Where are the gaps?
• Re-analysis after initial trial period. Have the changes implemented been effective? What additional work needs to be done?
• Data management through lifecycle. How can you ensure every sales person and sales force can consistently provide the same level of performance? How will you update your metrics over time?
Sales coaching is a relatively new concept; but can offer important benefits to your organization. It can increase consistency and efficiency, put a process in place that can be easily repeated, and allows visible tracking of change. It also brings everything together into a comprehensive approach to sales performance management. It will allow your organization to determine strengths within your sales force so you can assign projects accordingly, and illustrate gaps that you can fill with new hires or by training current employees.
In this webcast entitled "Developing Merit Planning Tools You Can Use" you will learn about the following:
Many organizations claim to have a "Pay for Performance" philosophy. Is this really the case? Do we pay for performance, or in this interesting economic time do we tend to pay for mediocrity? Certainly managing a merit budget effectively is not always an easy task, and with budgets hovering around the 3.0% mark, the task is made even more difficult. Still, many organizations are intent on delivering on this philosophy, and as such have developed salary increase matrices to assist in its deployment. During today's turbulent economic times, companies struggle with ways to spend the precious few merit increase dollars they are allotted. Some organizations revert to the "peanut butter" approach, where everyone gets the same increase. In such a scenario, who is actually being rewarded? Some would argue that the top performers are actually being penalized and those who are not performing are being rewarded.
In this presentation, Kenexa’s compensation experts will discuss relevant topics such as:
• Pay for performance as a philosophy
• Tools managers can use to implement merit increases
• How to develop and cost a traditional salary increase matrix
The presentation will also cover the importance of communication and education; line managers must understand the concept of pay for performance and how it is tied to the organization’s compensation philosophy. Also, an organization must help employees understand what a merit matrix is, how it aligns with the company’s mission, how their performance was rated against expectation and how it ties to their compensation.
Please join us as we discuss the perceptions and realities of eroding employee purchasing power and as we explore tactics that compensation departments can use to navigate a challenging environment where wage increases are not keeping up with inflation.
One does not have to be a certified compensation professional or a statistician to see that the purchasing power of employees is under pressure. In major cities, there are Occupiers protesting about the poor getting poorer and the news seems to validate their concerns.
Consider these recent headlines:
NPR – "Paychecks can’t keep up with rising prices"
Reuters – "First look at U.S. pay data and it’s awful"
Mercer – "Employee loyalty declines worldwide"
Obviously HR professionals don’t use headlines to craft compensation strategy. But often, where there is smoke, there is fire. In this webinar, we will seek to separate spin from reality and point out practical steps you can take to fireproof your organization for the days ahead.
We will review the perception and reality of employee purchasing power. We will place wage increase and salary range movement statistics side by side with inflation statistics provided by the U.S Department of Labor. In addition, we will glimpse what is framing main street perception of employee purchasing power by reviewing the retail prices of commonly purchased items like food and energy, which are not included in Consumer Price Inflation calculations. In addition, we will provide actionable ideas you can use to boost retention and engagement, even in tough economic times.
Among other things, you'll learn how to:
- The trends on inflation, wage increases, and employee loyalty
- The implications of linking COLA to CPI on a broad basis
- How to prepare managers for conversations with employees
- Identify opportunities to expand “pay-for-performance” strategies
- Help employees maximize their individual and group purchasing power
Please join us for what is sure to be an informative event.