[Go here for #1 to #3]
#4: Competitive Reference Points
Describe the comparator group(s) for your rewards package
Determine industry/geographic competitors
For signature programs, what are the benchmarks
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Strategic Comp Plan? ‘This Is Not Easy Stuff’
Compensation Planning
| Thursday, May 9th, 2013
"Yesterday’s Advisor featured consultant Chuck Csizmar’s tips for formulating a meaningful compensation strategy. Today, more of his tips plus an introduction to the all-compensation-in-one-place website, Compensation.BLR.com®."
Expert’s Secrets of Social Media Candidate Sourcing
Compensation Administration
| Wednesday, May 8th, 2013
"You can find candidates via Social Media, says Staffing Advisors Recruiter Kelly Dingee, but it’s like a puzzle. If you work at it, you’ll save time and you’ll “save dollars phenomenally.”"
Just for example, says Dingee, do an advanced search on LinkedIn, say, for an HR manager near ZIP 06475 in banking. Here’s the search:
Dingee’s tips came at the Advanced Employment Issues Symposium in Las Vegas. (Info on this years’ symposium here. )
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Performance Appraisals 2013–What’s Happening in the Real World?
Benefits
| Tuesday, May 7th, 2013
"Everyone admits that performance appraisals are important—but few are pleased with the effectiveness of their process. What’s happening with performance management in the real world? What’s working? What are your competitors up to? Let’s find out!"
Please participate in our brief survey and see how what you are doing stacks up against what other successful companies are doing.
We’ll get answers to these questions and more:
- What do your performance appraisals measure?
- Which employee groups receive what types of appraisals?
- Do you use performance management software?
- If so, what software really works?
- How often do you do appraisals?
- When during the year?
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Typical Platitudes Aren’t Enough for Your Compensation Strategy
Compensation Planning
| Tuesday, May 7th, 2013
"If you are like most companies, says consultant Chuck Csizmar, you have a compensation strategy that’s filled with broad, aspirational phrases like “market leader,” “shareholder value,” “supplier of choice,” and maybe “Employer of Choice,” or “competitive.”"
You need something more than platitudes to get and retain the people you want, says Csizmar, who is founder and principal of CMC Compensation Group.
What Are We Talking About?
When we talk strategy, we’re talking about “a plan, method, or series of maneuvers for obtaining a specific goal or result.” It’s a guideline or road map that lays down a series of principles to be acted upon, says Csizmar.
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FLSA Compliance: Simple Until You Do It
Wage and Hour
| Monday, May 6th, 2013
"Complying with the Fair Labor Standards Act (FLSA), already trickier than expected, is made even harder by misconceptions and myths, says Attorney Ted Boehm."
For example, he says, there’s the misconception that employers may provide “comp time” in lieu of overtime compensation. For most private employers, comp time is not permissible (government employers often may use comp time).
However, employers may control employees’ hours worked to prevent them from working overtime hours. For example, if an employee works late on a Tuesday, and you see that he or she is likely to exceed 40 hours for that week, the employer can give employee a day off during that week.
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