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Trends in Compensation and Best Practices in the Current Economy

Topic:
Trends in Compensation and Best Practices in the Current Economy
Date:
June 11, 2012 at 1:30 - 2:30 PM ET
Presenters:
Ed Rataj, Director(CBIZ)
webcastImgVirtual
Description
Organizations nationwide seek to continuously improve performance and motivation while simultaneously reducing costs. This arduous task often becomes the responsibility of Human Resources. 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.

In this presentation, we will:
- Explore turnover in the rebounding economy: discuss common perceptions and reality of unemployment, as well as projected turnover in the economic recovery
- Examine compensation economics 101: review willing buyer/ willing seller compensation equilibrium and artificial caps and thresholds created through regulatory environment
- Offensive and defensive strategies: pay for performance, top grading, total rewards statements (base pay, incentives, value of benefits, etc.), communications, sales pay, option re-pricing
- Review steps for designing a market-based compensation system: best practices for compensation philosophy, job documentation, selecting data, market analysis, designing pay structures, financial impact analysis, and assessing the state of the compensation program
- Recognition and sustaining high performance through a merit matrix: review concept, market-competitive pay increase data, sample merit matrix model including conservative, typical and aggressive models along with sample results, graphs and employee by employee analysis
- Answer attendee questions regarding the presentation
Who Should Participate
HR professionals, chief financial officers and any management team members interested in compensation program design
What You Will Learn
During the webinar, Ed Rataj will guide participants through the following: - Overview of compensation economics - Offensive and defensive strategies for current economic times - Best practices in compensation program design - Merit matrix approach overview
Recommended Resources
Mr. Rataj is frequently quoted in major news publications as a compensation expert. Following is a sample of his presentations and resources: Guest Lecturer – “Reasonable Compensation in Closely-Held Companies” – Washington University Masters Program April 7, 2010. Guest Lecturer – “Sales Compensation” – Washington University Masters Program, March 25, 2009. Presentations “Compensation Strategies” - Minnesota Society for Human Resource Management (SHRM) conference - December 12, 2006. Also delivered to the Women’s Professional Organization on May 10, 2007. “Creating and Using a Salary Increase Matrix” – Lorman Education Services, November 12, 2007. Also delivered on June 10, 2008 and February 3, 2010. “Creative Compensation Strategies” – Moderator, The Entrepreneurship Institute, February 1, 2007. “Government Contractor Compensation Issues and Audits” – Association of Government Accountants - San Diego – April 10, 2007 and December 10, 2008. “Guide to Fair Pay Compliance & Best Practices” – Webinar, December 15, 2009 (copresented with Priya Kapila). “How Top CFOs Set Pay Ranges the Right Way” - B21 Publishing via webinar - October 31, 2007. Also delivered under different titles on June 3, 2008 and January 12, 2010. “Incentive Pay Plan Blunders That Can Cost You a Fortune” – B21 Publishing via webinar – February 6, 2008 (co-presented with Kevin Nussbaum). Also delivered on August 6, 2008. “Nonprofit Guide to Navigating Intermediate Sanctions” – Webinar, July 7, 2009 and August 5, 2009, CPE Credit Eligible. “Paid Time-Off Banks: Can They Save You Time, Money, and Headaches?” – B21 Publishing via Webinar, September 23, 2009 (co-presented with Kevin Nussbaum).
Communities
Compensation
Human Resources Management
Performance Management
Pay For Performance
Compensation Trends
Compensation Measurement, Reporting and Analysis
Compensation Planning and Management
Compensation Modeling and Forecasting
Incentives, Rewards and Recognition
Job analysis, Evaluation and Grading
Pay Strategies
Salary Survey Planning and Management
Pay for Performance Planning and Management
Compensation Surveys
Compensation Salary Surveys
Skill/Competency Based Pay
Pay for Performance
Base Pay
Presented by
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Ed Rataj
CBIZ

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CBIZ
CBIZ enables you to dedicate your time to critical business matters by providing custom solutions that help you manage your finances and employees.
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WorldatWork Society of Certified Professionals. Recertification credit for this event applies to the Certified Compensation Professional (CCP®), Certified Benefits Professional® (CBP), Global Remuneration Professional (GRP®), Work-Life Certified Professional (WLCP®), Certified Executive Compensation Professional (CECP™) and Certified Sales Compensation Professional (CSCP™) designations granted by WorldatWork Society of Certified Professionals.

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