2013 Compensation Planning Webinar
|
|
- Alice Davidson
- 6 years ago
- Views:
Transcription
1 2013 Compensation Planning Webinar Creating a Talent Management Advantage Through Compensation Prepared by Consulting Performance, Reward & Talent
2 Today s Discussion Topics Context for 2014 Compensation Planning Compensation Planning Trends and Guidance Creating a Talent Management Advantage Through Compensation Proprietary & Confidential 2014 Compensation Planning Briefing 2
3 Context for 2014 Compensation Planning
4 Context for 2014 Compensation Planning Continued strengthening of domestic economy Highly volatile global outlook politically and economically Low confidence in political processes Continued cost containment pressures Focus remains on productivity Improved corporate profitability Labor market is heating up Somewhat greater global pressure on wages Proprietary & Confidential 2014 Compensation Planning Briefing 4
5 Compensation Economic Scorecard Dow Jones Industrial Average U.S. Jobless Claims U.S. Inflation Rate (CPI) U.S. Unemployment Rate Conference Board Leading Economic Index Conference Board Consumer Confidence Index Data effective June 2013 Proprietary & Confidential 2014 Compensation Planning Briefing 5
6 Percentage of Organizations Your Expected Business Results Expected Performance Attainment Source: Aon Hewitt Survey U.S. Salary Increases 2013/2014 Proprietary & Confidential 2014 Compensation Planning Briefing 6
7 Compensation Planning Trends and Guidance
8 Primary Data Source Aon Hewitt U.S. Salary Increase Survey 2013 and 2014 Created in 1976 Fortune 1000 companies 1,147 participants in 2013 Merit/overall salary increases Salary structure movement Variable compensation Pay practices Data effective as of June/July 2013 Unless otherwise noted, data in this presentation reflects: U.S. Corporations Salaried-exempt employees Including zero responses Broad-based employee variable pay plans Non-sales specific commission/incentive plans Proprietary & Confidential 2014 Compensation Planning Briefing 8
9 2014 Compensation Planning Snapshot Salaried-Exempt Employees Percent of Companies Percent of Payroll Percent of Payroll Salary Increases Projected Variable Pay Projected Salary Freezes Projected Source: Aon Hewitt Survey U.S. Salary Increases 2013/2014 Proprietary & Confidential 2014 Compensation Planning Briefing 9
10 Percentage of Payroll Aon Hewitt U.S. 2013/2014 Salary Increase Survey Overall Salary Increases by Employee Group Overall Salary Increases Source: Aon Hewitt Survey U.S. Salary Increases 2013/2014 Proprietary & Confidential 2014 Compensation Planning Briefing 10
11 Percentage of Payroll Industry Overall Salary Increase Outlook for 2014 Salaried-Exempt Employees Energy Mining/ Milling Computers & Related Products 3.5 Construction/ Engineering 3.3 Metals Fabrication Building Materials Transportation Entertainment/ Publications Retail 2.5 Health Care/ Medical Services Industry 2.2 Government 2.6 Education Perennial Winners and Losers Source: Aon Hewitt Survey U.S. Salary Increases 2013/2014 Proprietary & Confidential 2014 Compensation Planning Briefing 11
12 Percentage of Payroll Aon Hewitt U.S. 2013/2014 Salary Increase Survey Variable Pay Budgets by Employee Group Variable Pay Source: Aon Hewitt Survey U.S. Salary Increases 2013/2014 Proprietary & Confidential 2014 Compensation Planning Briefing 12
13 Projected Future Variable Pay Budgets Actual and Projected Variable Pay Spending on Salaried-Exempt Employees Source: Aon Hewitt Survey U.S. Salary Increases Proprietary & Confidential 2014 Compensation Planning Briefing 13
14 Industry Variable Pay Outlook for 2014 Salaried-Exempt Employees Percentage of Payroll Energy 17.2 Food/Beverage/ Tobacco Agriculture 16.8 Entertainment/ Publications 15.1 Forest & Paper Products/Packaging Health Care/ Medical Services 5.8 Not for Profits 6.8 Aerospace Industry 7.7 Research/ Development 8.0 Automotive Perennial Winners and Losers Source: Aon Hewitt Survey U.S. Salary Increases 2013/2014 Proprietary & Confidential 2014 Compensation Planning Briefing 14
15 Percentage of Payroll Industry Comparisons 2014 Total Cash Compensation Budgets 21.9% 16.1% 16.8% 15.3% 9.5% 8.8% 10.6% Source: Aon Hewitt Survey U.S. Salary Increases 2013/2014 Proprietary & Confidential 2014 Compensation Planning Briefing 15
16 A Dramatic and Ongoing Shift in Pay Mix Change in the Total Compensation Budgets and Spending for Salaried-Exempt Employees ( ) Why? Fixed vs. variable costs Need to focus and drive behaviors Need to create alignment Perceived control Shareholder/ analysts value it Source: Aon Hewitt Survey U.S. Salary Increases 2013/2014 Proprietary & Confidential 2014 Compensation Planning Briefing 16
17 Percentage of Companies Impact of Variable Pay on Business Results Impact on Business Results Source: Variable Compensation Measurement (VCM ) Report 2013 Proprietary & Confidential 2014 Compensation Planning Briefing 17
18 Measuring Plan Effectiveness Critical Plan Design Components Measures Eligibility Targets & Stretch Funding Alignment Line of Sight Plan Mechanics Participation Requirements Identifies factors (financial, nonfinancial and individual) to determine performance Must be controllable and relevant to business Considers eligibility for both exempt and nonexempt employees Be as inclusive as possible Assesses payout targets and degree of stretch built into target level of performance Competitive with appropriate pay at risk given line of sight and role Means of funding and spend on variable pay as percent of key financial parameters Should be accrued, reflective of actual business results and sufficient Determines the degree of inclusiveness across all-employee groups Checks for common goals and clear linkages Analyzes ability of the individual to impact the performance measures As much direct influence on outcomes as possible Evaluates levers on which the plan operates Reflective of pay philosophy and culture, balanced between realistic and challenging Explores clauses associated with a variable pay plan Clauses under which participation and payouts can be denied Communication Plan Administration Source: Variable Pay Index (VPI ) 2013 Considers frequency, methods and details of plan features that are communicated Understandable and communicated goals, timing and updates Time required to evaluate performance, payouts and frequency of review Should include assessment of continuous improvement Proprietary & Confidential 2014 Compensation Planning Briefing 18
19 Conclusions Increases to 2014 salary budgets are marginal and not indicative of any significant rebound Cost containment on fixed expenses (salaries) will continue for several years Alternatively, funding for variable expenses (variable pay) continues to be strong Organizations are placing their pay for performance bets on variable pay programs Organizations must be more bold in channeling their limited payroll dollars to their high potentials and top performers even at the risk of alienating their average performers Proprietary & Confidential 2014 Compensation Planning Briefing 19
20 Creating a Talent Management Advantage Through Compensation
21 Creating a Talent Management Advantage Through Compensation Premise: A talent advantage is the only source of competitive advantage that cannot be easily replicated by competitors Source: Conference Board 2013 Proprietary & Confidential 2014 Compensation Planning Briefing 21
22 Conference Board Top 10 Business Concerns of CEO s Human Capital is on the top of the list of key challenges across all regions Innovation depends on employees and employee performance drive operational excellence 4 challenges make the top 5 in all 3 regions: Human Capital, Operational Excellence, Innovation and Customer Relationships Strategies to address the top 4 global challenges suggest a strong focus on talent and the behaviors employees engage in Top 10 Global Challenges 1. Human Capital 2. Operational Excellence 3. Innovation 4. Customer Relationships 5. Global Political/Economic Risk 6. Government Regulation 7. Global Expansion 8. Corporate Brand/Reputation 9. Sustainability 10. Trust in Business Source: Conference Board 2013 Proprietary & Confidential 2014 Compensation Planning Briefing 22
23 Key Levers of Talent Management Wellness Culture Engagement Onboarding Compensation is viewed as a separate sliver Benefits Supervisor /Manager Development Performance Management Proprietary & Confidential 2014 Compensation Planning Briefing 23
24 Employee Engagement Engagement is stabilizing globally but 4 in 10 employees are not engaged High performers and high potentials will leave the organization for a better opportunity especially those in Generations X and Y Career opportunities and recognition have been the key drivers of engagement For the first time in years, pay has moved into the top 5 global engagement drivers, coming in at number 3 Proprietary & Confidential 2014 Compensation Planning Briefing 24
25 Top Engagement Drivers Global 2010 Global 2011 Global 2012 Career Opportunities Recognition Organization Reputation Communication 4 5 Managing Performance 5 Innovation People/HR Practices 4 Pay 3 Brand Alignment 5 Career Aspiration Source: Aon Hewitt Global Engagement Survey 2012 Proprietary & Confidential 2014 Compensation Planning Briefing 25
26 What Engages High Performers Demonstrated differentiation in compensation More frequent monetary and non-monetary recognition Accelerated off-cycle adjustments More holistic portfolios of rewards Proprietary & Confidential 2014 Compensation Planning Briefing 26
27 Development Growing shortage of qualified skilled employees in spite of unemployment Strategic opportunities in emerging markets have organizations scrambling to fill critical roles Companies in some geographic regions are building their own leadership powerhouses making them tough competition The ability to build leaders quickly and given eager emerging leaders opportunities to grow will be a competitive advantage Rewards ensure the attraction and retention of the key talent organizations need to create leaders Proprietary & Confidential 2014 Compensation Planning Briefing 27
28 Percentage of Companies Development Attraction/Retention Challenges 32% 29% 24% 3% 3% 3% Attraction Retention Compression Greater Concerns Source: Aon Hewitt Survey U.S. Salary Increases 2013/2014 Lesser Concerns Proprietary & Confidential 2014 Compensation Planning Briefing 28
29 Development Approach Used to Retain High Performers Approach Percentage of Organizations None 26% Provide additional learning and development opportunities to highperforming employees Grant discretionary restricted stock and/or stock options to highperforming employees Reserve portion of salary increase budget for highest performing employees (i.e., split merit budget) 45% 21% 20% Offer retention bonuses for specified period of employment 17% Create supplemental, discretionary incentive pool for highperforming employees 12% Other 1% (n = 922) Source: Aon Hewitt Survey U.S. Salary Increases 2013/2014 Proprietary & Confidential 2014 Compensation Planning Briefing 29
30 Performance Scarcity of high-performing talent given today s business challenges Increasing concern over degree of loyalty exhibited by talent Few, if any organizations, feel they have mastered the art of performance management Historical disconnect between performance message and delivery of rewards Proprietary & Confidential 2014 Compensation Planning Briefing 30
31 Performance We know from research that High performers are attracted to organizations that pay for performance and recognize their contributions High performers will leave organizations that do not reward performance Low performers will self select out of organizations that emphasize high performance in rewards Low performers are more likely to stay with an employer when pay for performance relationships are weaker Source: Compensation 10 th Edition; Milkovich, Newman & Gerhart Proprietary & Confidential 2014 Compensation Planning Briefing 31
32 Performance Relative Economic Service Value by Average Performance Rating Over Time 191% 146% 100% 9% 54% Source: Evaluating the Utility of Performance Based Pay, Personnel Psychology 2003, Sturman; Trevor, Boudreau, Gerhart Proprietary & Confidential 2014 Compensation Planning Briefing 32
33 Percentage of Payroll Performance Differentiation of Rewards Source: Aon Hewitt Survey U.S. Salary Increases 2013/2014 Proprietary & Confidential 2014 Compensation Planning Briefing 33
34 Performance Actions Being Taken to Increase Merit Pay Differentiation Actions Percentage of Organizations Training managers on differentiating performance 81% Reducing/eliminating increases for lesser performers 46% Using a more aggressive, highly leveraged merit increase grid 21% Setting more aggressive performance targets 20% Reducing size of top performer population 8% Moving from ranking guidelines to forced rating distribution 6% Moving from rating calibration to forced rating distribution 2% Moving to variable timing from annual cycle 1% Other 1% (n = 691) Note: Percentages total more than 100% since more than 1 response was provided by some participants Source: Aon Hewitt Survey U.S. Salary Increases 2013/2014 Proprietary & Confidential 2014 Compensation Planning Briefing 34
35 Creating a Talent Management Advantage Through Compensation An organization s Talent Management Strategy can only be achieved if it creates and executes effective compensation approaches Wellness Benefits Culture Engagement Supervisor /Manager Development Onboarding Performance Management Proprietary & Confidential 2014 Compensation Planning Briefing 35
36 For Further Information Ken Abosch Lincolnshire, Illinois Frank Belmonte Lincolnshire, Illinois To learn more about our Salary Increase Survey, please visit Proprietary & Confidential 2014 Compensation Planning Briefing 36
37 Questions
38 About Aon Hewitt Aon Hewitt empowers organizations and individuals to secure a better future through innovative talent, retirement and health solutions. We advise, design and execute a wide range of solutions that enable clients to cultivate talent to drive organizational and personal performance and growth, navigate retirement risk while providing new levels of financial security, and redefine health solutions for greater choice, affordability and wellness. Aon Hewitt is the global leader in human resource solutions, with over 30,000 professionals in 90 countries serving more than 20,000 clients worldwide. For more information on Aon Hewitt, please visit Aon plc This document is intended for general information purposes only and should not be construed as advice or opinions on any specific facts or circumstances. The comments in this summary are based upon Aon Hewitt's preliminary analysis of publicly available information. The content of this document is made available on an as is basis, without warranty of any kind. Aon Hewitt disclaims any legal liability to any person or organization for loss or damage caused by or resulting from any reliance placed on that content. Aon Hewitt reserves all rights to the content of this document. Proprietary & Confidential 2014 Compensation Planning Briefing 38
Getting Real About Creating a High-Performance Culture
Getting Real About Creating a High-Performance Culture October 2013 Consulting Performance, Reward and Talent 2013 Aon plc Following the Great Recession, many organizational cultures have suffered as leaders
More informationStock Utilization Practices at Mid-Sized and Larger Biopharma Companies. Pre-Commercial. Commercial
June 2017 In the life sciences sector, small and newly public biopharma companies have more flexibility to use equity liberally. Larger companies need to be more targeted in their approach to compete.
More informationSo Complex It s Scary: Friday the 13 th Affordable Care Act Guidance on HRAs, Health FSAs, and EAPs
So Complex It s Scary: Friday the 13 th Affordable Care Act Guidance on HRAs, Health FSAs, and EAPs September 2013 The Department of Labor (DOL), Treasury, and Health and Human Services (HHS) (the agencies)
More informationTalent Management and Rewards Survey. U.S. Report
2012 2013 Talent Management and Rewards Survey U.S. Report 2012 2013 Talent Management and Rewards Survey U.S. Report Table of Contents Introduction Ensuring Workers Get What They Need, While Organizations
More informationReward next practices
Reward next practices A Study of Reward Leaders WorldatWork Conference - Philadelphia APRIL 29, 2013 insert client logo Presenters Tom McMullen Hay Group Chicago tom.mcmullen@haygroup.com +1.312.228.1848
More informationHot Topics Excerpt: Life Sciences Firms Seek Competitive Edge in Equity Awards
Hot Topics Excerpt: Life Sciences Firms Seek Competitive Edge in Equity Awards Life sciences companies are benchmarking long-term incentive pay above the 50 th percentile compared to other forms of pay
More informationHigh Turnover Rates Influence Pay
July 2016 Following a hiring frenzy in 2015, many technology companies are now focusing on sales staff productivity, hoping that their big investments in talent will deliver on ambitious growth goals.
More informationHR Connect Asia Pacific
Employee Engagement Trends in Hong Kong and its Impact on Employers By Andy Leung, Senior Consultant, Aon Hewitt Hong Kong The economic recession that started in 2008 dramatically changed the landscape
More informationOvercoming Workforce Challenges With Strategic Compensation Initiatives. Theresa M. Worman Executive Vice President
Overcoming Workforce Challenges With Strategic Compensation Initiatives Theresa M. Worman Executive Vice President INTRODUCTION Workforce planning aligns the needs and priorities of the organization with
More informationAudit of Executive Compensation
5-803.1 Audit of Executive Compensation a. The contractor's executive compensation system should be evaluated separately, even if the contractor does not have a separate pay structure for executives. FAR
More informationPrevalence of Variable Bonus Plan. Smaller Companies. Mid-Sized Companies. Larger Companies
February 2017 As pre-ipo companies generate more revenue, they are more likely to make changes to their short-term incentive plan targets, eligibility levels and performance measurements. As pre-ipo companies
More informationBest Employers Study. Benchmark and measure your organization s people practices and their alignment to business performance.
Best Employers Study 2013 Romania Benchmark and measure your organization s people practices and their alignment to business performance Partners: ENGAGING PEOPLE TO DRIVE BUSINESS PERFORMANCE CREATING
More informationAdapt, Evolve, or Die
Talent, Rewards & Performance Adapt, Evolve, or Die Three Capabilities Driving Your Organization s Enduring Change Readiness December 2017 Introduction Adapt, evolve, or die. That advice from the natural
More informationGCC Oil Field Services & EPC Sector Reward Survey
Aon Hewitt GCC Oil Field Services & EPC Sector Reward Survey Risk. Reinsurance. Human Resources. How we help our clients To enable effective decision making, it s crucial that HR professionals have access
More informationGCC FMCG Sector Reward Survey
Aon AonHewitt Hewitt GCC FMCG Sector Reward Survey Risk. Reinsurance. Human Resources. How we help our clients To enable effective decision making, it s crucial that HR professionals have access to reliable
More informationAon Hewitt Performance, Rewards & Talent. Engagement Solutions. Employee Engagement for the Real World. Risk. Reinsurance. Human Resources.
Aon Hewitt Performance, Rewards & Talent Engagement Solutions Employee Engagement for the Real World Risk. Reinsurance. Human Resources. Employee Engagement for the Real World Regardless of size, industry
More informationIs Your Global Account Sales Strategy Truly Global?
August 2015 Is Your Global Account Sales Strategy Truly Global? A majority of technology companies say thinking beyond regional borders is their biggest challenge in executing on an effective global account
More informationMerit Pay Program Design and Effectiveness September 18, 2014
, Performance Development International, LLC Merit Pay Program Design and Effectiveness September 18, 2014 Presented by: Rena Somersan Principal Verisight, Inc. Verisight delivers differences that count
More informationThe Growing Talent Crisis. challenges and solutions
The Growing Talent Crisis challenges and solutions The Growing Talent Crisis challenges and solutions Executive Summary Employers throughout the world increasingly are struggling to keep pace with expanding
More informationAon Hewitt Radford. October 2015
October 2015 Across key major international markets, employees in technical positions are more likely to participate in long-term incentive programs and receive higher award values from it. Technology
More informationEmployee engagement is promoted by a myriad of
SHRM Foundation Executive Briefing Employee Engagement: Your Competitive Advantage Sponsored by Randstad Employee engagement is promoted by a myriad of consultants, books and articles, but does it really
More informationGCC Construction & Real Estate Sector Reward Survey
Aon Hewitt GCC Construction & Real Estate Sector Reward Survey Risk. Reinsurance. Human Resources. How we help our clients To enable effective decision making, it s crucial that HR professionals have access
More informationBest Employers 2.0 Korea 2013 Study. Results Report
Best Employers 2.0 Korea 2013 Study Results Report Welcome to Best Employers 2.0 - Korea 2013 Results Report Dear Reader, We are proud to present the 7th edition of Aon Hewitt's flagship study in Asia:
More informationChapter 1. The Pay Model
Chapter 1 The Pay Model Learning Objectives Compensation - Definition Forms of pay A pay model 1-2 Perspectives of Compensation Society s Views Stockholders Views Employees Views Managers Views 1-3 Perspectives
More informationThe Importance of Compensation at Blue Cross Blue Shield of Massachusetts (BCBSMA)
The Importance of Compensation at Blue Cross Blue Shield of Massachusetts (BCBSMA) Attracting and retaining high-quality talent is crucial to our continued business success. Our compensation programs,
More informationCEO Challenge CREATING OPPORTUNITY OUT OF ADVERSITY Building Innovative, People-Driven Organizations
CEO Challenge 2015 CREATING OPPORTUNITY OUT OF ADVERSITY Building Innovative, People-Driven Organizations 1 Background on CEO Challenge Annual survey in its 15 th year; fielded from September 2014 to October
More informationRecruiting and Retention Remain Top Challenges
February 2018 Like many other aspects of the financial services industry, the call center as we know it is changing. Technology is disrupting historic practices and generating new, client-centric demands
More informationInnovating for Today s New Workforce
RETHINKING PROCUREMENT TALENT MANAGEMENT: Innovating for Today s New Workforce Presented by: Don Dougherty, Partner Executive Vice President Marrena Anderson Senior Vice President AN APPROACH UNHEARD OF
More informationCommunicating the New Employment Deal
Communicating the New Employment Deal Reengaging Your Workforce and Driving Business Results in Challenging Economic Times Marty Friedman November 17, 2010 2010 Towers Watson. All rights reserved. Despite
More informationExample Approach To Non-Profit Organizations. ExeComp Solutions Compensation Advisory Services May 2014
Example Approach To Non-Profit Organizations ExeComp Solutions Compensation Advisory Services May 2014 ExeComp Solutions LLC (ECS) appreciates the opportunity to present our services to The Museum We are
More informationEngaging and Retaining Key Talent: The Role of Rewards
Engaging and Retaining Key Talent: The Role of Rewards Proudly sponsored by Careerminds May 14, 2013 Tom McMullen and Mark Royal Hay Group Presenters Tom McMullen Hay Group (Chicago) tom.mcmullen@haygroup.com
More informationIBM Approach to Maintaining Pay Equity
Ron Glover, Vice President, Diversity and Workforce Policy February 2013 IBM Approach to Maintaining Pay Equity Topics Value of being an IBMer IBM Compensation Strategy Enabling Pay Equity Pay Differentiation
More informationAon Hewitt Middle East
Aon Hewitt Aon Hewitt Middle East Empowering Economic and Human Possibility Risk. Reinsurance. Human Resources. Creating ground-breaking solutions that bring new ideas to life A range of economic, social
More informationManufacturing CFOs: Strategies to attract and retain high-performing talent
Manufacturing CFOs: Strategies to attract and retain high-performing talent Eric Gonzaga Partner, Human Capital Services Jeff French (moderator) National Managing Partner, Manufacturing practice leader
More informationBecoming a Best Company to Work for
Becoming a Best Company to Work for Susan Springer Director of Workplace Assessments Best Companies Group May 19, 2010 Presented by: 1 Presentation Agenda Best Companies to Work for Program Philosophy
More informationREWARDS AND BENEFITS: Compensate your people with purpose
REWARDS AND BENEFITS: Compensate your people with purpose UP. IT S WHERE REWARD DRIVES PERFORMANCE Reward can be a powerful tool to motivate people to hit goals but there are a lot of moving parts. Beyond
More informationIndustry Count Median Pay Ratio
June 2018 Most public companies have disclosed their CEO pay ratio, and we have several key findings that could be useful for shareholder engagement and planning for next year. The first year of CEO pay
More informationSTATEMENT OF THE HONORABLE GINA S. FARRISEE ASSISTANT SECRETARY FOR HUMAN RESOURCES AND ADMINISTRATION
STATEMENT OF THE HONORABLE GINA S. FARRISEE ASSISTANT SECRETARY FOR HUMAN RESOURCES AND ADMINISTRATION DEPARTMENT OF VETERANS AFFAIRS (VA) BEFORE THE COMMITTEE ON VETERANS AFFAIRS U.S. HOUSE OF REPRESENTATIVES
More informationSales force turnover is on the rise in many key global markets, forcing HR and sales leaders to use preemptive measures to retain top sales talent.
August 2015 Sales force turnover is on the rise in many key global markets, forcing HR and sales leaders to use preemptive measures to retain top sales talent. Data on overall and voluntary sales force
More informationIs There Merit in Merit Pay? A Survey of Reward Professionals
Loyola University Chicago Loyola ecommons School of Business: Faculty Publications and Other Works Faculty Publications 2015 Is There Merit in Merit Pay? A Survey of Reward Professionals K. Dow Scott Loyola
More informationApproaches to Corporate Title Structures
January 2018 Corporate titles, such as EVP, SVP, VP, and AVP are widely used at both credit unions and banks. Historically, banks tend to make more extensive use of corporate titles across the employee
More informationCompensation Benchmarking
1 Compensation Benchmarking An introduction Centre for Excellence in Organization Pvt. Ltd. 2 COMPENSATION BENCHMARKING BENCHMARKING Benchmarking is a highly utilized risk management tool for organizations
More informationVariable Pay Designing & Management
Date: 3. August 2012, 14:00-17:00 Venue: The Garden Hotel, Guangzhou HR Seminar & Discussion Forum Variable Pay Designing & Management - Minutes - Speaker: Christine Zhen, HR director of C&B, Greater China
More informationEvaluating and Implementing a Defined Contribution Benefits Strategy Within a Total Rewards Framework
Defined Contribution Benefits Strategy Within a Total Rewards Chris Ratajczyk, CCP, SPHR Director of Operations Human Resources & Compensation Consulting Practice Rick Strater Division Vice President &
More informationA robust economic environment with unemployment at record lows in the United States;
October 2018 Companies experiencing high growth need to engage in smart workforce planning and examine their compensation philosophy, culture and employee experience to stay competitive. Note: This article
More informationTalent Solutions for Mutual Insurers. January 25, 2017
Talent Solutions for Mutual Insurers January 25, 2017 Agenda Introduction Aon s Integrated Approach About Aon Hewitt & Ward Group Talent, Rewards and Performance Industry Challenges and Initiatives Human
More informationThinking Strategically About Total Rewards
ISSUE ANALYSIS Thinking Strategically About Total Rewards By: Mary Aprahamian, SPHR, CCP Deborah Schultz, GPHR, SPHR MRA The Management Association Setting the Stage Delivering powerful results that is
More informationWhat is on the Horizon for the Industry?
April 2018 Second only to the weather, travel woes are the friendliest form of small-talk. Unexpected delays, airport congestion, and shrinking seat size are universally relatable for air travelers. However,
More informationCreating a Customer Centric Organization
RESEARCH BRIEF Creating a Customer Centric Organization The Key Drivers of Customer Loyalty Bill Kowalski Integrity Solutions The Sales Management Association +1 312 278-3356 www.salesmanagement.org 2009
More informationSimplifying Executive Benefits. One Capitol Mall Suite 350, Sacramento, CA Internal Use Only
Simplifying Executive Benefits Mission Create and Refine Top Performing Cultures for Leading Companies INTERVIEWING Worker s Comp Wellness Policy Guidelines Corporate Communication NON- DISCRIMINATION
More informationIs Your Employee Equity Plan IPO-Ready?
Is Your Employee Equity Plan IPO-Ready? July 2015 One of the biggest challenges for compensation professionals in the run-up to going public is adapting your stock plan to meet public market expectations.
More informationEnabling, Engaging, & Rewarding Employees A Study of Most Admired Companies
Enabling, Engaging, & Rewarding Employees A Study of Most Admired Companies Tom McMullen Mexico City (April 6, 2011) Fortune survey of World s Most Admired Companies What is it? Fortune has combined the
More informationState Street in the UK Pillar 3 Disclosure - Remuneration
The following forms State Street s UK Pillar 3 disclosure under BIPRU 11.5.18R in respect of 2013. BIPRU 11.5.18R (1) Information concerning the decision-making process used for determining the remuneration
More informationRate of Change in New-Hire Pay
January 2017 The highly competitive hiring environment for skilled positions is not exclusive to the San Francisco Bay Area. New-hire pay is increasing rapidly in emerging tech hubs as well. The growth
More informationCompensation Program Guide
Compensation Program Guide For Toronto Hydro Corporation (THC) and Toronto Hydro Electric System Limited (THESL) Executives, Managers, Supervisors & Professionals February 2009 February, 2009 1 Your Guide
More informationWHITE PAPER Employee Engagement Enables a High-Performing Workforce
WHITE PAPER Employee Engagement Enables a High-Performing Workforce How workforce management technology helps optimize employee motivation and productivity Employee engagement is much more than just the
More informationFit for the Future: Innovative Global Talent Transformation
www.pwc.com Fit for the Future: Innovative Global Talent Transformation November 2015 Challenges of today Discussion Outline Talent and performance needs Building a fit for the future talent organisation
More informationHuman Resources and Compensation Committee report
Human Resources and Compensation Committee report Mandate The Human Resources and Compensation Committee of the Board of Directors (the Compensation Committee or Committee) is responsible for developing
More informationTotal Rewards Implementation and Integration. research. A report by WorldatWork and Mercer July 2010
Total Rewards Implementation and Integration research A report by WorldatWork and Mercer July 2010 Contact: WorldatWork Customer Relations 14040 N. Northsight Blvd. Scottsdale, Arizona USA 85260-3601 Toll
More informationCourse Materials TOTAL COMPENSATION. Julia A. Johnson Senior Manager Wipfli LLP Green Bay, Wisconsin
Course Materials TOTAL COMPENSATION Julia A. Johnson Senior Manager Wipfli LLP Green Bay, Wisconsin jajohnson@wipfli.com 920-662-2876 August 10 & 11, 2017 Total Compensation Graduate School of Banking
More informationHuman Resources BUDGET & FULL-TIME EQUIVALENTS SUMMARY & BUDGET PROGRAMS CHART. Operating $ 8,664,661 Capital $0 FTEs 29.25
BUDGET & FULL-TIME EQUIVALENTS SUMMARY & BUDGET PROGRAMS CHART Operating $ 8,664,661 Capital $0 FTEs 29.25 Lori Gentles Department Director Administration Employee Relations/Benefits Recruiting & Classification
More informationCharting a Steady Course
2 0 1 6 BENEFITS STRATEGY & BENCHMARKING SURVEY INDUSTRY ADDENDUM MANUFACTURING Charting a Steady Course Survey Overview Gallagher s 2016 Benefits Strategy & Benchmarking Survey provides insights into
More informationCommunicating Your Gender Pay Gap
Aon Hewitt Talent, Rewards & Performance Communicating Your Gender Pay Gap December 2017 Table of Contents So you ve calculated your gender pay gap? What next?....1 Why your gender pay gap report says
More informationCOMPENSATION STRATEGIES
COMPENSATION STRATEGIES Ohio CUPA Meeting April 7, 2016 Copyright 2016 by The Segal Group, Inc. All rights reserved. Today s Discussion Employee value proposition Elements of the total compensation structure
More informationCompensation Planning 2013: Planning for Performance
Compensation Planning 2013: Planning for Performance September 24, 2013 James Roth, Atlanta Colleen O Neill, Atlanta Jeanie Adkins, Louisville Today s Speakers James Roth Atlanta +1 404 442 3139 james.roth@mercer.com
More informationGCC Healthcare Sector Reward Survey
Rewards Practice GCC Healthcare Sector Reward Survey Risk. Reinsurance. Human Resources. How we help our clients To enable effective decision making, it s crucial that HR professionals have access to reliable
More informationThey are known as innovators in their industry (not just growth through acquisition).
February 2018 This article, on common talent and rewards practices at high-performing US-based technology companies, was originally published in the November 2017 issue of Workspan magazine. We know that
More informationEmployee Value Proposition. Make the Most of your HR Investment
Employee Value Proposition Make the Most of your HR Investment 1 Workshop Goal: What is an Employee Value Proposition? 2 We help organizations dramatically improve performance and work through the friction
More informationSupplemental Materials Compensation Philosophy Examples TOTAL COMPENSATION
Supplemental Materials Compensation Philosophy Examples TOTAL COMPENSATION Julia A. Johnson Senior Manager Wipfli LLP Green Bay, Wisconsin jajohnson@wipfli.com 920-662-2876 August 10 & 11, 2017 Compensation
More informationPAY IT FORWARD. sales reward criteria. Oana Datki SEE Managing Partner. Bucharest
PAY IT FORWARD sales reward criteria Oana Datki SEE Managing Partner Bucharest Creating effective sales compensation plans Align compensation with company objectives Sales compensation does not replace
More informationDefining Value in the Agency-Client Relationship
Defining Value in the Agency-Client Relationship Tim Williams Founder, Ignition Consulting Group Senior Fellow, VeraSage Institute twilliams@ignitiongroup.com Would you pay more for an agency that sells
More informationWhile non-traditional technology companies are major players in both hubs, their impact on Silicon Alley is bigger.
December 2017 The technology market in and around New York City is maturing rapidly, but even as pay levels align more closely with Silicon Valley, plan design remains distinct in important ways. The workforce
More informationMCE Talent Management and HR
MCE Talent Management and HR Page 1 Retain, Develop and Engage Your Management Talent Your people are your most expensive asset. Success depends on making sure this asset is productive. There are three
More informationRewards Strategy and HR Practice Executive Summary. - Leading Companies
2013 Rewards Strategy and HR Practice Executive Summary - Leading Companies About This Survey Aon Hewitt China has been conducting HR Practice and Benefit Survey for more than ten years. This survey tracks
More informationSimple Reward Practices for Better Business Results
Simple Reward Practices for Better Business Results Tim Silvera Vice President, Ultimate Rewards Practice Leader 1 Topics 1 2 3 4 What is Important to Today s Workforce? Pay-for-Success Compensation Philosophy
More informationKitsap County Human Resources 2018 Budget overview 9/22/2017
Kitsap County Human Resources 2018 Budget overview 9/22/2017 Kitsap Human Resources Mission o HR recruits talented, career-minded leaders; supports employee development; builds trust; celebrates teamwork;
More informationAon Talent, Rewards & Performance. January 2018
January 2018 In most cases, you can t begin to fix a problem until you understand why it exists in the first place. This is certainly true for the complex challenge of addressing gender pay equity. In
More informationPerformance Management & Learning
Performance Management & Learning Delivering a complete solution that supports organization excellence & individual fulfillment Exxceed, Inc. Dean H. Dussias President & CEO Purpose of This Presentation
More informationCreating Thriving Schools During a Teacher Shortage
Creating Thriving Schools During a Teacher Shortage SHANE MCFEELY, PH.D. Senior Workplace and Education Researcher Gallup JONI BOOTH Senior Education Consultant Gallup What is the teacher shortage problem?
More informationDCIPS is the new Title 10 Excepted Service human capital management system for the DoD Intelligence Community and emphasizes recognizing employees,
Senior Leadership Guide to DCIPS DCIPS is the new Title 10 Excepted Service human capital management system for the DoD Intelligence Community and emphasizes recognizing employees, developing individuals
More informationCHAPTER 14. Performance Management, Compensation, Benefits, Payroll, and the HRIS
CHAPTER 14 Performance Management, Compensation, Benefits, Payroll, and the HRIS INTRODUCTION Performance, rewards and payroll systems are the basic exchange between employees and employers Employees provide
More informationother words, inevitably people will talk when presented with data that was previously thought to be fairly secretive and protected.
April 2018 Technological advances and new pay equity laws give employees access to data they never had before. Companies need to be ready to address inequities and tell their story in new ways. For more
More informationUsing HR Analytics to Build a Business-Focused HR Strategy. Scott Mondore, Ph.D. Strategic Management Decisions
Using HR Analytics to Build a Business-Focused HR Strategy Scott Mondore, Ph.D. Strategic Management Decisions Learning Objectives A step-by-step process for building an HR strategy How to connect people
More informationCorporate. reviewing. time to time. (i) terminate any evaluation. retain and. (ii) consulting Sterling LLP. successful
The following forms State Street s UK Pillar 3 disclosure under BIPRU 11.5..18R in respect of 2011. BIPRU 11.5.18R (1) Information concerning the decision-making process used for determiningg the remuneration
More informationCOMPENSATION AND REWARDS. The complex process includes decisions regarding variable pay and benefits
COMPENSATION AND REWARDS Definition: The sum total of all forms of payments or rewards provided to employees for performing tasks to achieve organizational objectives. Compensation- Nature and scope The
More informationCompensation: Is it time to Switch from Cost-Cutting Back to Compensation Strategy?
Compensation: Is it time to Switch from Cost-Cutting Back to Compensation Strategy? By, Marie Brinkman and David Knopping Radford An Aon Consulting Company mbrinkman@radford.com dknopping@radford.com As
More informationCompensation Program Guide
Compensation Program Guide Management Employees January 2011 January 2011 1 Your Guide to Compensation at Toronto Hydro At Toronto Hydro Corporation, we are committed to the health & safety of our employees,
More informationThe Compensation Checklist for Nonprofits. Are you prepared for today and the next 5 years?
The Compensation Checklist for Nonprofits Are you prepared for today and the next 5 years? January 25, 2011 Today s Presenters Nonprofit HR Solutions Providing human resources solutions for the nonprofit
More informationAdministrative Guidelines Employee Compensation Plan
Administrative Guidelines Employee Compensation Plan 2013. Texas Association of School Boards, Inc. All rights reserved. Table of Contents Compensation Policy... 1 Compensation Philosophy and Objectives...
More informationManaging Engagement in Times of Change
Aon Hewitt Talent, Rewards & Performance Managing Engagement in Times of Change March 2017 Risk. Reinsurance. Human Resources. 20% of business content will be authored by machines by 2018 according to
More informationHow to Improve Incentive Plan Governance
9 2013 The Magazine of WorldatWork How to Improve Incentive Plan Governance Using discretion is key for compensation committee decisions on incentive plans. One of the biggest challenges facing public
More information4/10/2014. Developing an HR Strategic Plan A Step by Step Approach. Agenda. By a Show of Hands: The HR Strategic Plan. Critical Success Factors
Developing an HR Strategic Plan A Step by Step Approach Sue Jones Managing Director - KLS Group (541) 213-2075 sue@theklsapproach.com www.theklsapproach.com Creating an HR Strategy Agenda The HR Strategic
More informationINDUSTRY BREAKOUT SESSION ENGINEERING, ENERGY AND MINING
INDUSTRY BREAKOUT SESSION ENGINEERING, ENERGY AND MINING 3-4 APRIL, BUDAPEST, HUNGARY Ellyn Karetnick UK Helena Wennberg Nordics Today s Speakers Ellyn Karetnick UK ellyn.karetnick@mercer.com Helena Wennberg
More informationBefore the South Dakota Public Utilities Commission of the State of South Dakota
Direct Testimony Laura A. Patterson Before the South Dakota Public Utilities Commission of the State of South Dakota In the Matter of the Application of Black Hills Power, Inc., a South Dakota Corporation
More informationUnderstanding Your Pay
Understanding Your Pay Providing you with an overview of your pay at the Deluxe family of companies This information provides an outline of our compensation programs and guidelines. It is not intended
More informationHow to Select, Align, Develop, and Retain Highly-Engaged People in Healthcare
How to Select, Align, Develop, and Retain Highly-Engaged People in Healthcare INTRODUCTION A PATIENT-CENTERED WORKFORCE A Patient-Centered Workforce is made of highly-engaged people and teams who endeavor
More informationJuly 23, Converting Entitlement to Partnership What to do When Your Employees Act Entitled
July 23, 2015 Converting Entitlement to Partnership What to do When Your Employees Act Entitled Today s Presenter: Ken Gibson Senior Vice President (949) 265-5703 kgibson@vladvisors.com 7700 Irvine Center
More informationPlease find enclosed the Statement of Executive Compensation for Langara College.
May 9, 2017 Christina Zacharuk President & CEO PSEC Secretariat 2 nd Floor, 880 Douglas Street Victoria, BC V8W 2B7 Dear Ms. Zacharuk: Please find enclosed the Statement of Executive Compensation for.
More informationBEFORE THE MAY 29, 2003
BEFORE THE PRESIDENT S COMMISSION ON THE UNITED STATES POSTAL SERVICE 1717 H STREET, N.W. WASHINGTON, DC 20006 (202) 715-7294 PAGE 2 Good morning, members of the Commission. I am Jane Weizmann, Senior
More informationATTRACT and RETAIN Top Employee Talent
ATTRACT and RETAIN Top Employee Talent Kathleen Korpita Vice President, Global Talent Management & Diversity Cox Automotive Atlanta, GA 678-645-7228 kathleen.korpita@coxautoinc.com 2 The views and opinions
More information