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Nov. 2008

Front Page

workspan May 2008

The Politics of Total Rewards: What Can You Expect from the New Administration?
By Cara Woodson Welch, Esq., and Carrie Clark
Total rewards professionals need to be prepared for changes that may come with the new U.S. president. Will minimum wage increase? Will there be national health care? Just what can we expect from the new administration regarding important total rewards issues? workspan writers analyzed the candidates’ past voting records, their campaign Web sites, position papers and political party platforms to help you learn what awaits total rewards professionals.


What Can You Expect from the New U.S. Administration?


Features

Executive Severance Agreements: Competitive Practice versus Strategic Rationale
By Scott Olsen, Thomas M. Tabaczynski and Carl R. Weinberg
The headlines about CEO pay are screaming these days. While the reasons behind executive severance make sense, the dollar amounts involved as well as the brief tenures of some terminated executives trigger not only headlines, but loud complaints as well. To address concerns and improve the bottom line, organizations can adopt a rules-based approach to severance arrangements that results in individually tailored results without individual negotiations.

Money Talks: Identifying, Preventing and Alleviating Systemic Salary Compression Issues
By Linda Ulrich
The overall objective of compensation programs is to deliver higher pay to employees who have greater responsibility, perform better than others and have a greater positive impact on the organization. In the process of meeting this objective, however, organizations can create situations where this doesn’t occur. This article examines these systemic salary compression situations and suggests ways employers can minimize their negative impact.

Why CPI-Based Pay Policies are Not the Answer
By Paul Weatherhead
WorldatWork members have seen a flurry of blog and bulletin board exchanges regarding companies returning to pay policies based on changes in the Consumer Price Index and possibly even returning to cost-of-living allowances. This article recaps the lessons learned from using these approaches in the past in order to avoid making the same mistakes now and in the future.

Broaden the Impact of Recognition & Rewards
By Marc Drizin
Rewards and recognition programs have been a successful part of attraction, motivation and retention for years. By zeroing in on the integration of these programs with effective senior leadership, training and development, as well as work-life effectiveness, employers can broaden the impact and positively affect attraction, motivation and retention.

What a Roth 401(k) Can Do for Your Executives
By Lee Nunn, Steve Toven and Marjorie Martin
Many companies are considering whether to offer a Roth 401(k) plan option to employees, as doing so could provide a valuable income deferral opportunity to executives whose contributions are limited by 401(k) plan regulations. To show employers how a Roth 401(k) plan can help their business, this article will discuss the issues and advantages inherent in offering such a plan.


How Roth 401(k) Plans Can Help Middle-Tier Executives Save for Retirement
By Lee Nunn, Steve Toven and Marge Martin, Aon Consulting

The Rise of HR Automation Puts Employees in the Driver’s Seat
By Rich Gallun
Automated benefits systems can not only streamline processes for human resources, but also can provide 24/7 access for employees and their families. For Trek Bicycle Corp. and Children’s Hospital of Chicago, this change has put employees in the driver’s seat and saved money by reducing errors and delays in the process.

Octane-Driven Performance
By Peter Lupo
Long-term incentive plans can be tailored for high-performance executives. However, the plans can be expensive and are subject to market volatility. Read about three incentive plans that are based on performance as well as differing periods of measurement.

Improving Performance Focus and Execution with Midyear Check-Ins
By John Anderson and Susan Mlot
An innovative approach companies are taking to effectively develop their employees is the midyear check-in, which helps clarify expectations and ensure that goals set during the review period are being met and still relevant. The midyear check-in allows the team to focus on ongoing goals and the employee to stay on course.

How Comprehensive Tobacco Cessation Programs Can Save You Money
By Dr. Tim McAfee
Tobacco use is responsible for more than 440,000 deaths annually in the United States alone. Fortunately, there are ways to safeguard against the estimated $15 per day that employers spend in excess health-care costs for smokers. By providing a comprehensive tobacco cessation program, employers can save money and lives. This article provides details about how to set up a successful, comprehensive smoking cessation program.

The Implications of an Economic Recession on Health Plans
By Edward Kaplan
Employees may change the way they use their health-care benefits when faced with the possibility of losing their job. A tight labor market creates challenges for employers who typically don’t want to raise health-plan costs and who also don’t want to deal with their own increasing costs of providing health care. But there are countermeasures that employers can take to ensure costs don’t spiral out of control.

 

 

 

 

 

 



Trends

Employee Engagement in the Asia-Pacific Region
By Mary Ann Masarech
Levels of workforce engagement differ substantially across the globe, according to a new report. The findings indicate that the Asia-Pacific region features the highest and the lowest levels of engagement.

India's Human Capital Challenge
By Padmaja Alaganandan
India is expecting a shortfall of 500,000 qualified employees by 2010. Innovative approaches, such as fast-track leadershipdevelopment programs, have needed to evolve as leaders leave one company for the next to get a large raise. India is also increasing its use of retention pay and is recruiting talent by region.

Member Central
Regional Differences Within Asia-Pac Challenge Rewards Professional Barry Davis 

 

Finding Balance Amid Chaos
2008 Total Rewards Asia-Pacific Conference Focuses on Retention in Uncertain Times

Taming the Tiger: Rising Health-Care Costs in Asia
By Rajeshree “Gina” Parekh
Health-care costs are rising in Asia, and this article presents some ideas on how to control those costs, including better management of purchasing, illness prevention and introduction of some level of financial responsibility to the employee.

Total Reward Strategies that Would Help Attract, Retain and Engage Singapore’s Business Graduates
By Hesan A. Quazi, Ph.D.
This article introduces a short study showing that the preferences of fresh graduates entering the workforce may well be different from those that seasoned workers express. The author explores the preferences of university students in an Asian business school in Singapore and, in some cases, compares them to already established preferences of seasoned workers in the two powerhouse economies in the Asia-Pacific region: China and India.

 

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