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.
Who Should Participate
HR and Compensation Professionals
What You Will Learn
Participants will learn 1) when to recommend the development and implementation of a formal compensation management program. 2) how to a compensation management program sell up and across the organization and 3) how much formalization to offer.
White Paper: Compensation Management Best Practices - See DBSquared web-site.
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