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!
Businesses large or small share similar challenges with managing their workforce. Many larger organizations have effectively managed one of their largest expenses, their people, using workforce management technology - can a small business do the same? The answer is yes but at what cost and return?
Understanding that small businesses need to be nimble and agile their solutions to problems should mimic. Key questions that we will look to answer that are shared amongst this market segment include: cost to solve the problem? Will I get a return on this investment? What additional value can I anticipate? Is it necessary for me to do so? Does this help mitigate compliance risks? Will I have time to implement? What should I look for in a solutions provider? Will this create more work for me or my workers? If you’ve asked any of the above questions about your business you will receive a lot of value by attending.
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.
Over the past few years, organizations large and small continue to dedicate more and more resources (and money) to the task of implementing workforce wellness programs. The results have been less than spectacular and with a few exceptions, little progress has been made towards either improving employee health or increasing workforce productivity due to improved wellness.
Find out how to stay ahead of the learning curve with real world insights and practical examples of how you could implement an ecosystem approach to corporate wellness programming that is holistic in focus and combines four core programmatic perspectives:
• Partner Community
• Behavioral Incentives
In an effort to save costs, employers are moving toward a workforce increasingly comprised of independent contractors. Unfortunately, independent contractor classifications, when done incorrectly, can result in the violation of a host of employment laws (ranging from wage and hour laws to discrimination laws).
This fast-paced presentation will cover recent developments creating greater exposure and risk with respect to independent contractor classifications. The presentation will then address the multitude of laws that may be violated as the result of incorrect independent contractor classifications. We will address the numerous factors that go into determining whether a worker is correctly classified as an independent contractor. The presentation will then provide practical guidance to ensure that such problems are avoided in the future.
Time will be reserved for questions throughout the presentation.
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.
New federal and state cases and regulations continue to further complicate the already complex leave of absence arena. In this interactive presentation, we will focus on the increasing divergence between the FMLA and the CFRA, new Fair Employment and Housing Commission’s pregnancy disability leave regulations, changes to FLMA and the CFRA, and changes at the Department of Fair Employment and Housing. We will also discuss employer best practices for managing an employee’s leave of absence, including intermittent leave, the differences and interactions between types of leave (FMLA, CFRA, Pregnancy, etc.), and when an employer can allow or require use of accrued vacation, sick, and paid time off during a FMLA and/or CFRA leave. This presentation will be helpful for employers based in California or that have employees working in California.