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Compensation Guidelines in a Recessionary Environment
By Alfred J. Candrilli, J.D, Organizational Consulting Group LLC; Cliff Cole, The Cliff Cole HR
Alliance; Bill Heck, Harlon Group; Andy Klemm, Klemm & Associates; Barbara Manny, Benefits
and Compensation Resources; and Gary Schroeder, Schroeder Associates
This paper addresses current economic realities and provides alternative compensation guidelines to minimize layoffs. The authors, six veteran compensation professionals, provide a set of compensation guidelines to help companies draft a roadmap to deal with five levels of economic circumstances, from little or no impact from the slow economy to severe impact.
The Perceived Value of ‘Free’ Versus Fee-Based Employee Assistance Programs
By David A. Sharar, Ph.D., Chestnut Health Systems and John Burke, Burke Consulting
“Free” Employee Assistance Plans (EAPs) are increasingly being offered in employee benefit products marketed to employers. The authors surveyed HR managers, benefit brokers and EAP professionals about the free EAP trend. In the paper, the authors seek to qualitatively describe the perceptions and observations of the three groups of respondents. The authors concluded there is a pressing need for research on the relative risks, benefits and actual costs of fee-based and free EAP programs.
Reward Alignment: High Hopes and Hard Facts
By Dow Scott, Ph.D., Loyola University Chicago; Tom McMullen, Hay Group; John Shields, Ph.D., University of Sydney; and Bill Bowbin, CCP, Hay Group
Drawing on survey responses from 449 WorldatWork members, the authors examined the relationship between business strategy, organization structure, compensation program characteristics and relative and organization performance. The research tested a fundamental assumption of the profession: Does alignment of business strategy with compensation strategy, policies and programs improve organizational performance? The findings supported this long-held assumption. Organization performance is higher when the organization: has a defined business strategy; adopts more consistent compensation policies and programs across business units; is team-based; and employs a greater use of pay differentiation and intangible (noncash) rewards. The authors also found certain pay practices are more prevalent in organizations with certain business strategies and structural features than in others.
Effective Rewards Strategies: Necessary, But Not Sufficient for Success
By Robert J. Greene, Ph.D., CCP, CBP, GRP, SPHR, GPHR, Reward Systems Inc.
Research and practical experience have proved that an effective rewards program is critical to the effectiveness of the workforce and to the success of the organization. But rewards practitioners must be certain that objectives and problems can be addressed by rewards before changing rewards programs. Human resources can address workforce issues more effectively by engaging those working in all HR functions. Causes can be determined more accurately by considering all potential contributing factors. Identifying and dealing with problems should be the job of everyone and credit should be given in a manner that encourages a cooperative, rather than a competitive, mindset. |
Successful Cultural Integration During a Merger: The Case of Qiagen and Digene
By Katrin Winkler, Ph.D., Qiagen and David H. Jackson, Ph.D., Mercer
It is a truism that most international mergers fail to achieve their goals and that this failure is attributable to the challenge of integrating corporate and national cultures. Qiagen’s (a German-based and Dutch-incorporated life sciences corporation) acquisition of Digene (a U.S.-based medical diagnostics company) presents a striking example of proactive planning for cultural integration that contributed to highly successful merger outcomes: financial, operational and organizational. This paper explains the cultural integration methodology that led to such favorable outcomes.
Beyond Black-Scholes: Are Shareholders Getting Good Value for Employee Stock-Based Incentives?
By Michael Lennartz and Stephen Zwicker, Watson Wyatt Worldwide; and Gareth Berry
The current economic downtown has increased the concern over executive compensation practices. The traditional methods of setting stock-option award sizes may no longer be appropriate in an environment where there is heightened scrutiny on the magnitude of pay, pay-performance alignment and the propensity of compensation programs to induce risky managerial behavior. The paper discusses new analytic tools that reflect a customized, company-specific approach, which may be required to balance these concerns.
Frontline Workforce Engagement Through Performance Management and Total Rewards: Bridging the Gap Between Strategy and Execution
By Kimberly Smithson-Abel, Diamond H Recognition
It is critical that organizations mobilize their workforces to successfully bridge the gap between strategy and execution. Organizations can make strategy meaningful and decipherable to those who are expected to execute it by: clearly communicating desired behaviors to employees; providing timely performance feedback; and, most importantly, consistently delivering aligned reinforcement, recognition and rewards. In turn, employees are empowered, equipped, and motivated to achieve organizational objectives. The key is to facilitate employees’ perceptions of the relationship between their own jobs and the organization’s objectives.
Engaging Employees through Performance Markets
By Ward Mannering, CCP, SPHR and Diana Fischetti, GovSec Consulting Corp.
Readers are urged to reconsider a model for achieving employee engagement and the processes for performance appraisal in light of the expectations of the workforce and the proliferation of social-networking technology. Organizations that seize and creatively introduce social network-based performance markets can achieve not only the results and financial success that come from an engaged workforce; they can also begin to discover new opportunities to leverage advanced Web technology in all human-capital applications. |
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