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The Institute for Human Resources (IHR) Compensation Best Practices and Trends certification program launched on February 14/15, 2011 with a two-day virtual event. Subsequent events were held on June 6/7, September 22/23 and December 12/13. To date, and over 4,000 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 (the only exception being 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 add the dates to their calendars.
This informative and timely session will focus on the dangers of pay inequity, the importance of establishing and maintaining fair pay, how to analyze pay equity, and the steps to take when correcting inequities.
Many organizations don’t realize there is hidden liability lurking in their compensation systems until it is too late. In 2011 the Office of Federal Contract Compliance Programs (OFCCP) and the Equal Employment Opportunity Commission (EEOC) joined forces to make salary equity compliance a top priority. Companies across the country found themselves being audited last year in regards to compensation—and this focus on salary equity compliance will continue through 2012. With the increased enforcement agenda surrounding compensation, now is the time for professionals to better understand how to identify, analyze, and eliminate potential compensation disparities within their organizations.
In an effort to help companies ensure compliance and mitigate potential liability, this informative session, conducted by one of Berkshire Associates’ leading compensation experts, Michele Whitehead, SPHR, will help attendees learn how to identify and eliminate pay disparities in their organizations. Michele will also provide guidance on the basic components of an internal pay analysis, how to overcome compensation equity challenges, and most importantly how to develop a pay analysis project plan.
After attending this session, attendees will be able to:
• Understand the latest business case for analyzing compensation
• Identify the agencies that enforce pay equity
• Develop the components of a pay analysis project plan
• Understand what data is needed to conduct a thorough pay analysis
• Develop an action plan to correct disparities
Equity-based compensation has been a key element in overall executive compensation packages for many years. Stock has also been used with mixed results in larger employee populations. Given all the changes in the economic environment, shifts in company strategy, shareholder sensitivity to the use of stock compensation, and the myriad of accounting and regulatory guidelines, the effectiveness of equity-based compensation continues to be scrutinized and questioned.
However, this experience also provides some great lessons and practical guidelines for where and how to use equity-based compensation to motivate performance, retain talent, and align the interests of grant recipients with shareholders.
In this session, we will look at the array of equity-based compensation being used and recent trends in usage. For example, we will review the working elements of restricted stock, restricted stock units, stock options, stock-settled SAR's, and phantom grants. We will discuss other key terms of grants to include term, vesting period, performance requirements, etc. And we will touch on the impact of different types of grants on shareholder dilution and impact on company earnings.
We will provide practical advice for determining which form of grant works best for different company lifecycles (startup, growth, maturity), business strategies (growth versus return), participant groups (executives, management, broad workforce), and company ownership status (public versus private). We will identify the impact that public float (how much stock changes hands on a daily basis) and dividend policy have on the effectiveness of different types of equity-based grants.
We will offer some real-life examples of situations in which a particular type of stock compensation worked well or failed.
Global equity compensation is one of the most complex areas of compensation. In some countries the rules are rigid and complex, in others they are fluid and evolving. Tax, legal, accounting, administration and communication issues make international equity a hot bed for common and not so common great and terrible practices.
You probably understand the general processes you should follow but do you really follow every process from Offer to Settlement? Skip one crucial step and you can end up with securities penalties, accounting restatements, employee settlement, tax penalties or a plan that fails to meet its purpose. Add certain checkpoints and increase plan effectiveness while reducing cost and risk. Through the use of entertaining stories, media citations and other examples our presenters will share their list of Top 10 Best and Worst for International stock plans based on over 40 years of combined stock plan experience.
Topics covered will include:
• Why designing a plan from the perspective of US rules can get you in hot water with your employees and regulators
• Why there is no such thing as “one size fits all” and methods for shaping grant sizes to meet international needs
• Why offer letters and employment agreements should leave equity out of the mix
• Why your US grant documents may not be the best idea for employees who live their “own” countries
• Why your plans won’t work if you choose to ignore the income and tax rules in international locations
• Why payroll is a far more critical partner in global plans than most companies give credit
• Why no amount of communication is enough, and how English-only communication can wipe away any engagement that your plans might try and create
• And much more…
An effective business partner solves problems so they stay solved. The skill set for an effective business partner includes problem-solving skills, creativity, analysis, collaborative relationships and making good decisions. But skills alone are not enough – the practitioner needs a robust suite of technology tools to help manage and process the vast amount of business, performance and talent data to turn it into actionable information. HR is supported by a core technology that is largely driven by Payroll, Benefits, and record keeping – very complex administrative functions that require a common approach and standardization. Compensation professionals find it especially difficult to develop robust planning tools, administer multiple compensation approaches, or create the differentiation necessary for a pay for performance environment. The core payroll system is designed to treat everyone the same. It is not surprising that compensation solutions are the weakest tool in a software suite, and that spreadsheets remain the tool of choice for compensation professionals, at the cost of time and administrative complexity.
The bottom line is that without enabling technology, you are faced with the prospect of saying “NO!” to business partner because your technology cannot support the innovative solution you can visualize but cannot implement. You simply cannot make design recommendations that you cannot administer. The unfortunate reality is that system modifications are often prohibitively expensive, and you quickly find that “add on” software usually trades one set of limitations for another.
There is an alternative. While most people have some understanding of Excel, even many “power users” are unfamiliar with the functionality available with Excel solutions. Excel with VBA - Visual Basic for Applications - can be used to develop robust, customized solutions that rival stand alone or add on programs, all at a fraction of the cost of alternatives. Specific examples will be provided.
You’ve designed a beautiful sales compensation plan and set reasonable quotas that will lead your business to unparalleled growth. The work is done, right?
Not even close. It’s often said by business leaders, “I’d rather have a good sales compensation plan well communicated than a great plan poorly communicated.” Great compensation plans don’t do anybody any good if the sales organization reverts to last year’s behaviors because they’re confused, afraid, or just plain angry about changes made to their compensation plan.
Communicating and Implementing the Compensation Plan will focus on the critical completion of the sales compensation design cycle and ensure the plan was not created in vain and address top communication and implementation challenges. Attendees will learn a set of proven approaches for a successful sales compensation implementation and will take away reference materials for their continued use.
Key learning points include:
• Sales compensation within context.
• Taking sales compensation plans from concept to reality.
• Involving key stakeholders in change management.
• Communicating a compelling change story.
• Managing sales compensation plan rollout.
• Implementation risk points: weak links along the implementation path.
• Managing resistance and confusion during implementation.
• Documentation control and consistency of message.
• Maintaining the momentum of the initial rollout through the entire year, and course correction.
Mark Donnolo, Managing Partner with SalesGlobe and founder of The Sales Leadership Forum, draws upon best practices from his experience benchmarking and designing hundreds of compensation programs in high-performing sales organizations across industries.
Join Mark and Collette Parker, director of content and communications for SalesGlobe and co-presenter, for this informative discussion and take away some concepts and tools you can apply immediately to innovate your organization and compensation thinking.
Pay for Performance is an accepted model for many organizations, but is it effective or shortsighted? Does it drive the right behavior and focus on the key people you must retain? How do you tie in potential, risk of losing someone, etc. into the overall reward process? Pay for Performance is based on past activities, and while a valid approach to rewards it lacks the forward looking approach that can help an organization be successful in the future. Future leadership needs, geographic expansion and retention of critical skills are just a few reasons that companies should consider leveraging performance, compensation and succession practices in a new way to help ensure they are ready for the needs of tomorrow.
In this session, Jan Brockway, Director of Product Management for Talent Management at ADP and a long time HR practitioner with a background in Organizational Development, Performance Management, Succession Planning, Recruiting and Compensation, and Robert Mattson, Director of Talent Management Marketing at ADP, will discuss the advanced concepts of pay for talent, which might include: pay for potential and how and where performance, succession/talent assessment and compensation information can be used across HR processes. Attendees will learn:
- Pay For Talent: what is it really, how can it impact an organization, what are the keys to making it successful
- The links between performance, succession, talent assessment and compensation
- Keys to successful implementation: gotchas, change management and success
Please join us for this informative and interactive session as two industry experts discuss not only best practices today, but what could become best practices in the future.
Are you keeping up with the rapidly changing world of benefits and compensation? From health care to vacations, and everything in between, the U.S. Bureau of Labor Statistics (BLS) has the latest benefits data, including access and participation rates, incidence, detailed provisions, and costs. BLS also has data on wages, employment, the future workforce, and more. Learn how BLS data can help you in your role as wage and salary administrator, benefits administrator, wage and contract administrator, workforce projection planner, or even as a BLS survey participant.
Of course, knowing what data are available from the BLS is only the first step. You also need to know how to identify the data you need, how to access the data, how to use the data, and where to turn for help. This overview of BLS data for human resource professionals will address all of these topics. Additionally, a demonstration of how to use the BLS’s data query system to immediately get the data you need will be provided. BLS data are available free of charge on the BLS website.
Data used in this webinar come from the Bureau of Labor Statistics (BLS). BLS is the statistical arm of the U.S. Department of Labor. It provides key economic data on employment and unemployment, inflation (including the Consumer Price Index and Producer Price Index), productivity, workplace safety and health, and wages and benefits.
What you will learn:
What BLS data are available for compensation and benefits professionals.
How to use BLS data in compensation and benefits programs.
Where to find and access the BLS data that you need.
Who to contact for help.
What’s the ROI on employee pay? Does anyone in your organization know?
Have you ever asked company leadership about the effectiveness of their employee pay programs? Interesting reaction, isn’t it? This webinar will help participants develop a better response than the typical deer-in-the-headlights stare that one usually receives.
In fact, participants will gain a greater understanding of the largest expense companies have, their employee pay. You will learn how to better manage the 40% - 60% of your revenue that floats out the door through regular payments to your workforce. This is especially true for your non-US operations, where most employers don’t understand the complexities of local pay programs and simply hope for the best.
We’ll show you the warning signs of trouble ahead, and whether you need to be concerned (likely you do!) about your current set of policies and practices. Then we’ll offer several “next steps” to help you increase the efficiency and effectiveness of the money being spent on your employees.
• Do you even know how your money is being spent?
• What do we mean by an effective pay program?
• What are the warning signs that you shouldn’t ignore?
• Special complexities on the international stage
• Corrective steps to take now
Don't make the assumption that a pay program in place is automatically working, and working well. Because often they're not, which means increased payroll costs, lower productivity and morale and a corresponding increase in finger pointing, disengagement and management distraction.
All of which is avoidable, if you learn to understand the What, the Why and the How of your employee reward programs.
If your company is one of the many today that has implemented one or more modules by a leading talent management vendor or ERP provider, it's time to ask yourself some hard questions:
• Are my processes fully enabled by technology and would they stand up to outside audit?
• Is my level of technology enablement 100% secure or are there still workarounds in the form of “shadow IT” or “shadow accounting?”
• Have I used technology to create a truly collaborative enterprise experience or have I automated the transactional nature of (insert your process here: recruiting, compensation, performance management, etc…?)
• Beyond collaboration, how do I make the talent management process strategic?
• Where are there organizational wins (outcomes) that HR can take credit for?
If your answers to any of these questions are a resounding NO or you are unsure, then attending this webcast will cast a light on what needs to be done in order to accomplish the task of achieving secure, scalable collaborative applications that are Sarbanes-Oxley compliant and mitigate the risks cause by human intervention and workaround systems.
This is a strategic session that should be attended by senior executives in human resources, compensation, finance and senior IT professionals responsible for supporting these processes and applications.
Attendees of this session can expect to learn the following:
1. How to look at their internal talent management systems and data with a critical eye to assess if the intended goals of implementing the software solutions have been realized.
2. What diagnostics can be used to objectively assess how efficiently and completely targeted is achieved.
3. How to speak to your vendor/partners to deliver on the vision that was originally promised versus the reality of delivery.
4. How to measure success in financial terms that your CFO will understand and respect.
Navigating through economic hard times is difficult enough without having good tools. Compensation professionals usually have a preference for internal or externally-based approaches to compensation planning. Seeing these as competing rather than compatible methods will likely lead to strategic floundering by HR. This presentation will examine the current trends in both methods and look at some of the challenges to each in the context of current case studies. We will then present a case for a comprehensive methodology that will act as a beacon for ensuring your compensation philosophy is aligned with your strategic and tactical objectives.
The once popular Internal job classification and job valuation processes are reemerging due to the increased blending of job titles / positions, a desire for better understanding of the job requirements and competencies that drive higher levels of performance and the external pressure by regulatory agencies for more objective job valuing criteria.
These internal job valuing, ranking, slotting systems fell out of favor because they were mostly manual processes and very time consuming.
HR technology and systems are evolving to addresses these inefficient and manual systems and offer HR and Compensation professionals the tools necessary to be more efficient and effective with the internal and externally-based approaches to compensation management.
The use of external market pay studies that are published and/or available through annual paid subscriptions has increased significantly during the past two decades. The market pay data by business sector and geographical location is becoming more robust but it still has weaknesses due to fluctuating data points from one year to the next and missing data points outside of commonly recognized benchmark positions. Compensation and HR professionals need to address these weaknesses by implementing methods and steps to make market pay data more meaningful and valid.
Compensation and HR professionals using both the internal and externally-based methodologies with current or evolving HR software technology when formulating compensation management policy structures are in a better position to pin-point (GPS) and recommend compensation decisions that support strategic and tactical company objectives.
Performance management is a hot topic for many HR Managers, who are charged with maintaining a credible system to enhance a pay-for-performance culture. Often, supervisors and managers are challenged in applying their company's performance management process to their employees, in many instances because the program itself is outdated or does not address the needs of today's workforce. Ensuring that performance criteria can be properly communicated to employees and tying performance ratings to a merit-based pay system are critical factors in developing your human capital to meet both their personal needs and the strategic considerations of the company. In evaluating the success of your own performance management process, HR Managers need to take a step back and begin with the basics.
Join us during this informative session as we address the basic tools Human Resources can use to evaluate and update their company's performance management process. During this session, we will examine:
• Who: Responsibilities of key members of a company in the performance management process.
• What: Identifying the appropriate criteria to use in evaluating different employee groups.
• Where: Discussion of the meeting itself and how to get the most out of performance appraisals.
• When: Frequency of performance evaluations, on-going coaching and feedback, and a special look at common/focal versus anniversary review dates.
• Why: The importance of establishing a sound process, and how this can empower employees to achieve organizational, professional, and personal goals. Common rating errors that hamper the process will also be discussed.
• How: Various tools that managers can use to facilitate the performance management process, including appropriate communication information.
Lastly, we'll share insights on what companies should be doing to update and manage their performance management process for 2012 and beyond.
Wage and salary increases have dropped to historic lows in recent years as the U.S. economy sank into one of the longest and deepest recessions in history. With employers shedding jobs in 2008-2009, only slowly adding jobs in 2010, and the unemployment rate rising around 10 percent for the first time in 30 years, there was little pressure on employers to increase wages. The average rate of increase in private sector wages and salaries has been about 1.5 percent per year since mid-2009. This compares with salary increases generally between 2.5 and 3.5 percent per year from 2000 - 2008.
Data on employer costs for wages and salaries, and the rate of change in those costs, come from the Bureau of Labor Statistics (BLS). BLS is the statistical arm of the U.S. Department of Labor. It provides key economic data on employment and unemployment, inflation (including the Consumer Price Index and Producer Price Index), productivity, workplace safety and health, and wages and benefits. Wage and salary data are tracked through two programs. The Employment Cost Index (ECI) measures the rate of change in employer costs for wages and benefits. The Employer Costs for Employee Compensation (ECEC) series measures the average dollar amount spent by employers on the compensation they provide to workers. The ECEC allows users to identify the proportion of their compensation dollar spent on wages and on various benefits.
A key feature of both of these data series is the availability of data for a variety of different characteristics. Employer characteristics include industry, size of establishment, and location, including data for 15 of the largest metropolitan areas in the country. Worker characteristics include occupation, collective bargaining status, and full-time/part-time status. Data are also available to show the effect of incentive pay on wage trends.
These data can be used to compare your wage trends to a comparable group, such as your industry, size, or location. All data are easily accessed through www.bls.gov<http://www.bls.gov>. The webinar will provide information on how data can be accessed and used by HR professionals.
A motivated and effective sales force is a key component to achieving competitive and sustainable advantage over your competition, especially during turbulent economic conditions. Incentive compensation plans built upon legacy building blocks often don’t align with current business goals and lead to confusion amongst the sales force. However, incentive compensation plan designs have become increasingly complex as the number of products and service offerings have grown and companies react to changing market conditions and competition for top talent. Complex crediting rules, date effective hierarchies, territory re-alignments, and pro-rated payments are all challenges legacy systems are often unable to support leading to herculean efforts on behalf of Sales Operations, HR, IT, and Finance who spend countless hours extracting a subset of the required data from source systems (if available), aggregating the data into multiple spreadsheets or ad-hoc databases, and developing complex incentive rules within formulas and macros that are prone to human error. As a result of this labor-intensive process, it is not uncommon for companies to voice concern that the quality of the results may not be worth the cost of the effort.
Next generation Sales Performance Management solutions are designed to simplify the implementation and ongoing administration of industry-leading incentive compensation plan designs with significantly reduced overall effort while providing accurate, auditable results that can be relied upon by key stakeholders involved in the process. This educational webinar will examine some of the complex components found within incentive compensation plan designs today, their impact on day-to-day administration, and how Sales Performance Management solutions simplify the complexity. Attendees will walk away understanding:
• Some of the complex incentive compensation management scenarios that are leading companies to invest in Sales Performance Management solutions.
• The business impact of managing complex incentive compensation plans through a combination of legacy systems, spreadsheets, and manual processes.
• How next generation Sales Performance Management solutions address the complexities found in rewarding today’s sales force.
Next generation Sales Performance Management applications significantly reduce the overall effort required to predict sales force expenditures and provide accurate, auditable results key stakeholders involved in the process can rely upon. Join us to see why leading companies are already investing in these strategic applications.