At this time of year many companies are emerging from their latest compensation review round. Merit and bonus recommendations have been submitted and approved and communicated to employees. For the compensation team sheer exhaustion is the overwhelming feeling. On this this webcast we will look at:
The case for a formal review (PIR) of the compensation process and identify what was right/wrong/good or bad about the cycle just closed;
Understand how to learn meaningful lessons from this cycle;
The must do’s over the next 3 months in order to make next year’s cycle much improved and less painful;
This session is recommended for Reward Managers looking to improve their annual compensation review process and policies.
In this program, Tammy McCutchen, a former Administrator of the U.S. Department of Labor’s Wage and Hour Division, will discuss common reward programs for non-exempt employees and how they impact overtime pay. Often, when considering the cost of incentive pay, employers fail to consider the related cost of the increased overtime pay. For example, a non-exempt employee who worked 150 regular hours and 25 overtime hours during a month in which he received a $200 production bonus is also owed an additional $14.29 in overtime. Although this seems a modest amount by itself, over time and for many employees, the overtime costs quickly mount up – as does the risk of class action litigation if the employer fails to pay this overtime.
In addition to providing training on how to calculate additional overtime due on bonuses, incentive pay, prizes and awards, Tammy will also cover reward programs that do not require the employer to calculate and pay additional overtime to non-exempt employees.
What is the role of a C-Level in the sales compensation design process? To poke his head into a conference room and ask a few questions, or to become involved at certain key points? After all, sales compensation the single biggest expense for most companies with the motivational power to move financial mountains, but many executives squander this opportunity to connect the business strategy to the sales organization. Based on the new book What Your CEO Needs to Know About Sales Compensation, author and managing partner of SalesGlobe Mark Donnolo outlines when and why highly successful companies involve the C-level in the design and implementation of their comp plans.
Lean, Six Sigma and other quality and Continuous Improvement initiatives are increasingly being adopted by industries outside of manufacturing like healthcare. Lean processes offer benefits in terms of quality, safety, productivity and cost. HR is often not involved in these operational initiatives. Is HR missing a big opportunity? Applying Lean processes to Compensation and HR functions, can free-up time to work with managers on important facilitation and employee engagement issues. More importantly, by incorporating Lean into compensation-related tools, and through the use of incentives, HR can enhance value to operational managers, and help to build a Lean Culture of Continuous Improvement.
Wondering about the effects of email, instant messenger or pornography on your business? How much overtime are you paying to employees who punch in early or stay late? And then there is always “buddy punching” – what is that costing your business?
The material in this session will cover these topics as well as help identify some tools you can implement to counter their corrosive effects.
Understanding just a little more about the foot print and fingertips of your employees can make a huge difference on your bottom line. Even if you already deploy Time and Attendance or employee monitoring, you will like learn more about these topics in this session.
In this session we will discuss the intricacies around running a 100% compliant organization while using valuable Independent Contractors (ICs)
In today’s economy, your organization must be creative with people. People are your most important resource, but it also is your most expensive resource! Yes, the government’s rules and regulations are tight…especially the State’s rules and regulations, but with some education and advocacy, we can navigate our ways through these landmines.
Once we have decided that many of our projects can be satisfied with a contingent or supplemental workforce, how do we go about implementing best practices to assist us with our need for compliant, structured and well-thought-out processes? What payroll options are available to you when bringing on independent contract consultants?
Organizations nationwide seek to continuously improve performance and motivation while simultaneously reducing costs. This arduous task often becomes the responsibility of Human Resources (HR). Without effective systems in place and data available, employee compensation can run counter to efficiency and performance objectives set by the organization. Learn how market-based pay structures can help your organization remain competitive, administer compensation fairly and easily, and allocate limited financial resources where they are needed most. Discuss compensation economics and the impact of regulations on the market equilibrium. Share offensive and defensive strategies for maintaining employees through the economic recovery and taking advantage of recruiting opportunities through top grading.
Business partners need skills to solve problems so they stay solved. But skills alone are not enough –practitioners need a robust suite of tools to help manage the vast amount of business, performance and talent data and turn that data into actionable information. Without enabling technology, you are faced with the prospect of saying “NO!” to business partners because your technology cannot support the innovative solution you can visualize but cannot implement without administrative challenges and hours of busy work. There is an alternative. Even “power users” are unfamiliar with the power of Excel solutions with VBA - Visual Basic for Applications. You can deliver innovative solutions without additional software. Specific examples will be provided.
A successful sales compensation program motivates your organization and drives performance toward your most important business objectives. However, the sales compensation plan doesn’t operate in isolation. Its success depends upon its alignment with the organization’s sales strategy and sales roles. These pressure points between the "upstream" sales roles and the "downstream" incentive plan can either enable the flow from strategy to motivation or kill a seemingly good plan. But its success depends upon several crucial pressure points – alignment with the organization's sales strategy and sales roles. In this session, Mark Donnolo discusses these pressure points – the top issues companies face with incentive plan alignment – and approaches to apply the right practices to your business.