Category: Benefits and Compensation

This topic provides guidance on how to handle compensation issues in a way that attracts and retains the best talent and advances the strategic goals of your business. You get news and tips on what’s going on nationally and in the states, and updates on changes in regulations, possible governmental action, and emerging compensation trends.

Small Retirement Plans Lead Adoption of In-plan Lifetime Income Guarantees

If your plan has been considering adding “in-plan guarantees” to the menu of retirement savings options you offer, new research finds an appetite for them among U.S. defined contribution plan participants. Although the actual market for these instruments in the United States is still limited, the guarantees, which give employees an opportunity while still working […]

How to Sell Engagement to Top Management

What Is Employee Engagement? “A heightened emotional and intellectual connection that an employee has for his/her job, organization, manager, or coworkers that, in turn, influences him/her to apply additional discretionary effort to his/her work.” —The Conference Board Branham, who is founder and principal of Keeping the People, Inc., offered his expertise at WorldatWork’s 2013 Total […]

RFPs More Popular for Selecting Plan Advisers; Eastern Plans Slower to Adopt

Requests for proposals are overtaking more informal referrals and industry networking as the most common way for retirement plan sponsors to select their advisers. But this increasing popularity is not universal — some plans on the East Coast still have not fully embraced RFPs, a new survey found. And cost wasn’t the main driver for […]

The 6 Universal Drivers of Engagement

Branham, who is founder and principal of Keeping the People, Inc., offered his expertise at WorldatWork’s 2013 Total Rewards Conference and Exhibition held recently in Philadelphia. Driver #1: Caring and Committed Senior Leaders Branham points to the following differences between low-scoring and high-scoring employers on engagement: Low-Scoring Employers: High-Scoring Employers: Isolated and self-interested management Servant […]

Set Boundaries to Make PTO Work

Marques, an associate in the New York office of Holland & Knight LLP, offered her PTO tips at a recent webinar sponsored by BLR® and HR Hero®. Make sure that all parts of the company are on the same page. Payroll, posted policies, and employment handbooks should all agree, says Marques. Make sure the payroll […]

PTO Policy OK? 11 Questions You Need to Answer

Unfortunately, to complicate matters, many state laws (and some city laws) cover sick time and/or vacation time, so proceed with caution, says Marques, an associate in the New York office of Holland & Knight LLP. She offered her tips at a recent webinar sponsored by BLR® and HR Hero®. PTO Policy Decisions Are Important Policy […]

Diverse Product Mix? Flat Growth? Here Are Effective Incentives

Cichelli, senior vice president at the Alexander Group, offered his tips at WorldatWork’s Total Rewards 2013 Conference and Exhibition. Diverse Product Mix Here are the diverse product mix conditions that suggest the approaches below: Many product divisions, one sales force Balanced outcomes required Varying incentive value due to varying volumes Degree of sales difficulty differs […]

32 (Inexpensive) Steps You Can Take to Improve Engagement and Retention

Yesterday’s Advisor alerted readers to the coming “Turnover Armageddon.” Today, nearly 3 dozen ideas of things you can do now—beyond offering more money—to retain your best workers, plus an introduction to the new total training system for supervisors and managers, TrainingToday. Most experts believe that engagement is not all about money. There are actions you […]

Reform Proposal Explains Monitoring of Exchanges and Refines Employer Plan Provisions

How health insurance exchange money is spent, which private insurance products may be offered on exchanges, who advises exchange consumers on plan choices and how well exchanges handle personal data will be under federal scrutiny, as explained in proposed program integrity rules issued by CMS on June 17. The rules also propose tweaks to existing regulatory language […]

3 Levels of Sales Jobs—3 Levels of Incentives

Cichelli, senior vice president at the Alexander Group, offered his tips at WorldatWork’s Total Rewards 2013 Conference and Exhibition. Here’s how he describes the three types of sales jobs: Job Level→ Factor↓ Territory Rep Account Manager Key Account Manager Customers Many/Existing and Potential Several (20–30)/ Existing Few (3–4) /Existing Orders Many/Small Average/Average Few/Large Sales Cycle […]