Over 90% of the Fortune 1000 publicly traded companies sponsor some sort of Nonqualified Deferred Compensation Plan. However, the vast majority of these plans are under-utilized and experience remarkably low participation rates. Why? Because they lack attractive design elements, and are not considered a critical pay element by many eligible plan participants.
A properly designed Nonqualified Deferred Compensation Plan can be the most versatile pay element within Total Rewards. It should reflect a true partnership and linkage of interests between the plan sponsor and key executive talent. And it should be supported by clear and effective communication and education that supports that partnership.
We will discuss Why corporations develop robust strategy within their Nonqualified Plan offering, and How they do it. We will explore key motivational factors that can drive performance. And we will give HR professionals practical tools that they can implement immediately to enhance Total Rewards.
This session will discuss the new hybrid jobs that have popped up in the last few years as well as the complications they create for Compensation professionals.
Hybrids created by layoffs
Layoffs required survivors to pick up responsibilities left over by laid off workers. Over time productivity has greatly improved and these hybrid jobs seem to be working out well. As companies start hiring again, they are looking for candidates that have hybrid skill sets.
Hybrids created by new business models
Companies are reconfiguring jobs. These new hybrids combine radically different skill sets that are found in more than one job family. Their complexity is causing Compensation professionals to scramble in order to find appropriate ways to compensate them.
Impact on compensation
How do Compensation professionals benchmark these new hybrids? Are today’s surveys relevant? Each of these jobs is truly unique, and the ability to find market data is weak. HR will be forced to develop more evidence-based and company customized techniques for building/managing pay plans. Market surveys will no longer be Compensation’s Bible!
Pay for performance has been the Holy Grail of Human Resources and Compensation professionals for decades. But there are many barriers, and most of the barriers ultimately come down to technology. There is an alternative. Even “power users” are unfamiliar with the power of Excel solutions with VBA - Visual Basic for Applications. We will walk through a specific example of a completely custom solution a company developed with Excel and VBA to automate their rewards administration. This includes a robust planning function; creation of performance rating forms uniquely developed for different performance ratings; and dozens of auditing and management reports.
Compression is one of the most difficult issues human resource professionals face. It tends to be a no-win, lose-lose situation, and the ways to deal with it are limited. It transcends all industries but is most difficult to address in organizations that have made minor adjustments to their pay system in reaction to the economy of the past few years. Pay compression is when you have small differences in pay regardless of experience, skills, level, or seniority. You see this when the starting salaries for your new employees in a particular job title are too close to the wages of your existing workers and is most visible when starting salaries exceed what your current employees are earning.
Extraordinary Performance Alignment Via Talent, Customer and Operational Rewards Centricity Overview
True innovation and dramatically improved compensation practices are called for across organizations, and yet in most entities, less than 20% of rewards are actually aligned to performance metrics and key business outcomes. Most CEO’s and top HR leaders intuitively know this, and yet a way forward for most companies has been glacially slow to materialize. This webinar, drawing on case examples of hundreds of companies, will identify “next practice” methods to creating more effective compensation and rewards systems.
The session will help participants discover the key business drivers and outcomes that compensation programs must support via “line of sight” alignment techniques.
This is a comprehensive session for those leaders who want to demonstrate both program effectiveness and the ROI of rewards and compensation management
A growing number of companies are enhancing the way they communicate pay to shareholders. And for all key stakeholders involved with executive compensation, it’s about time. Since the 2011 implementation of mandated ‘say-on-pay’ votes under the Dodd-Frank legislation, attention surrounding ‘pay-for-performance’ alignment has focused on the performance side of this equation, specifically on how to measure performance.
Meanwhile, the pay segment has been relegated to inconsistent application of facts, hyperbole and overall insufficient consideration on what actually should be included in pay for purposes of determining alignment with performance.
Current methods used in evaluating the extent to which an executive’s compensation correlates with company performance have fundamental flaws and provide inconsistent conclusions. Join us for our webinar Realizable Pay: Changing How Companies Communicate Executive Pay to Shareholders as we examine the emergence of realizable pay and its prominence in the pay-for-performance discussion, and considerations to help optimize the pay-for-performance message to shareholders.
As equity plan design continues to take on new shapes and sizes, it is easy to get lost in the myriad of the choices now available. Confusing acronyms will be thrown at you. You need to know the questions that add clarity. Learn to speak the same language as your executives, consultants and stakeholders. Spend this time comparing and contrasting administration, communication, pluses and minuses of: nonqualified vs. incentive stock options; restricted stock vs. restricted stock awards vs. restricted stock units; and Section 423 vs. nonqualified employee stock purchase plans.
This face-paced and dynamic presentation covers more ground that you can imagine while leaving attendees confident that they have the ability to understand and use valuable new information. The presenters will explain how each equity instrument works. You will learn what makes them similar and different. Understand how employees make money, plan for taxes and why each tool in the equity compensation toolbox exists.
If you follow Social Media, you’ll see all kinds of simple, new, “flavor-of-the-week” ideas, sure to appeal to your younger, Gen Y employees (the toughest group to win over), but what about your older folks, and those Gen X people in the middle (the least trusting group)? It comes down to a balanced approach that starts with engaging people emotionally in a way that earns trust. Then, you need to offer them intriguing and rewarding ways to contribute to the organization’s success and share in the benefits. If you’ve won them over and they trust you, this will be seen as a positive way for them to help themselves and the company. If you haven’t, they will see it as subtle manipulation. Next, make it fun, but fostering teamwork, make it easy for managers and peers to recognize and thank each other for their efforts. Lastly, measure results, compare with previous benchmark data, tweak and modify to keep things in line with your current goals and objectives. And finally – share the good news with your CFO! It works if it’s structured well and launched the proper order.
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 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.
Join ADP and the Jeitosa Group International for an upcoming webcast focused on leading practices in effective, efficient and innovative global organizational management. This webcast will address specific global payroll strategies employed by “top-performing” organizations that have learned how to effectively reconcile the conflicting forces in the global business environment.
At the conclusion of the webcast, you will leave with some concrete, step-by-step recommendations to help your global organization in your journeys toward both greater efficiency and enhanced innovation.
As a thank you for attending, all participants will receive a copy of Jeitosa’s latest research paper, “Driving Globally Strategic Payroll.”