Practical HR Tips, News & Advice. Updated Daily.
You’re asked by your company’s board of directors to reexamine your executive compensation. How, they want to know, does the company’s executive pay stack up when compared against other organizations? The first thing to do is to decide which companies should make up your peer group. Should you compare to the companies against whom you […]
You know the drill: spend some extra time and effort to bring down costs for the tiny percentage of participants who spend most of the health claims dollars, and you’ll reduce your insurance expenses. The problem, says Michael McKenna, president of Partners Benefit Group (www.partnersbenefitgroup.com), is that small or mid-sized fully-insured companies may not be […]
In recent years a growing number of companies have invested a lot of time and effort creating a performance-based compensation system. If yours falls into that category, then sales personnel and managers likely feel a strong link between the company’s overall perfor-mance, their departmental performance, their own individual performance, and their paychecks. Good job! But […]
The notices seem to come in waves. Yes, they’re designed to protect participants in your employee benefit plans, and you likely appreciate that worthy aspiration. But with each subsequent notice, you may feel a slight tightening in the benefits budget. Each additional analysis, restriction, or requirement seems to cost more money. And times being what […]
According to the latest Trends in Employee Recognition report released by WorldatWork, 75% of the 600+ professionals surveyed believe that their recognition programs are successful, but only 45% have a written strategy for their recognition programs. Only 14% say that their organizations trains managers on recognition practices. This, says Strategic Consultant and blogger Derek Irvine, […]
For Root Learning, 2008 was one of its best years on record. The Sylvania, Ohio-based company was able to pay off its debt and award debt-retirement bonuses to its approximately 100 employees. However, the celebration was short-lived. With the downturn in the economy, sales dropped 30 percent during the first quarter of 2009, leaving company […]
If you’re not careful, you may get a little depressed when you think about keeping your company viable. You may feel like there aren’t many alternatives left. At this point, you’ve probably already cut expenditures everywhere you can find room—from office supplies, advertising, and incentive awards to insurance premiums. What’s left when everything has been […]
Part 1: The Problem with Paper When our saga begins, the paper is new. It is made into a three-part form: one pink, one canary, and one the palest of blues. No one really knows why it has three parts, but everyone who sees it appreciates its delicate hues. After a few months in a […]
Hey, sales compensation team: We know your little secret. We know about the shame and guilt, about the many hours you spend alone in your office. Don’t worry, we won’t tell. What we will do is help you find the motivation to change. Once and for all, put away that spreadsheet, whether handwritten or on […]
How is compensation like a cupcake? There are some surprising similarities, says Dan Walter, President and CEO of independent consulting firm Perfomensation. His curious comparison originally appeared at Compensation Café, where he argued that the most important thing to consider is the difference between frosting and icing. First, look at the following compensation trouble points: Generic […]