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Digg it UP - It's Spring - Time For A Compensation Program Tune Up
I know some of you running a vending business are thinking is this guy off his rocker? Vending machines do make money, they’re a 24-hour employee that never sleeps, eats or asks for a raise. And to an extent you’re all correct but has it ever occurred to you that the vending machine is only your tool of choice to earn your living? Construction workers use a hammer, truck drivers use their truck, and venders use their machines.So what’s the point? The point is the type of machine your using isn’t the be all end all of your business. The first vending machine sales person I ever encountered was selling a new design of Bulk candy machines. The kind you’d see in a department store or mall. He pre
o Can the organization sustain past financial commitments to the compensation program? If not, how will spending priorities be set?
• What changes need to be made as to how employees are recognized and rewarded for their contributions to the organization?
o Do the current recognition and reward mechanisms work to motivate employees to contribute to the organization's strategic direction? With these questions answered, human resource next must develop a strategic response. Take the five questions above and overlay the four question survey responses. This helps to develop a strategic response to each of the five key compens
We have all been involved with horrible service and seen things we nearly could not believe while out purchasing products or services. I can tell you this that so many of the most unbelievable things I have seen resulted in Calamities in customer service for the company.About four years ago I watch a Hispanic man who worked as a gardener for a landscape company. They had been working on the neighbors property all day and then he walked over a low brick wall and entered the other neighbors side area, where they put their trash cans. He then proceeded to take a leak. The lady in the house happened to come out at that moment to throw away some trash. Needless to say it did not go well.She
Compensation program spring cleaning is more than looking at the market and determining adjustments. It is a time to step back and determine if the system remained in alignment with organizational and employee needs. Most organizations have long-term strategic plans with short-term objectives to determine progress. A compensation program designed at the beginning of a long-term strategic cycle also needs flexibility to address yearly short-term organizational objectives. As new objectives come to the forefront, or current ones are modified, the compensation plan must also change.
This is a different way of thinking about compensation programs. There are a number of tools and processes to help with this matter. One is a survey of the compensation program's effectiveness for users, including executive management, department management, and employees. The focus of this annual survey is the following:
• What aspects of the current compensation program were most effective in the past year?
o What aspects seem to have had a positive impact on employees in terms of retention and morale?
• What aspects of the current compensation program were least effective in the past year?
o What issues did human resources seem to spend the most time discussing with employees and managers?
• What should be the focus of the compensation program in the coming year? o What are managers' and employees' expectations in terms of compensation determination? • What will prevent this from happening?
o To what extent do managers and employees understand current financial issues facing the organization?
With this understanding, human resources must answer the following five questions:
• What external market challenges or pressures will be placed on the compensation system in the coming year?
o Has the market shifted? Is there a new strategic need in the organization that will alter our market focus, either by type of job or market definition? Is the organization in a position to remain competitive?
• What internal job equity challenges or pressures will be placed on the compensation program in the coming year?
o If a job evaluation system is used, are the factors and factor weights applicable based on current strategic direction? If not, what modifications are required?
• What employee equity challenges or pressures will be placed on the compensation program in the coming year?
o Have recent market adjustments and system modifications forgotten the employees? Are we able to attract employees without causing internal pay compression?
• What financial challenges will impede the ability of the organization to successfully fund and implement needed compensation program elements?
o Can the organization sustain past financial commitments to the compensation program? If not, how will spending priorities be set?
• What changes need to be made as to how employees are recognized and rewarded for their contributions to the organization?
o Do the current recognition and reward mechanisms work to motivate employees to contribute to the organization's strategic direction? With these questions answered, human resource next must develop a strategic response. Take the five questions above and overlay the four question survey responses. This helps to develop a strategic response to each of the five key compensa
1. Appearing in other types of media is the best way to attract TV notice. The more your name appears in print, the more likely it is that you'll be approached to appear on TV.2. If a TV researcher phones you, treat the conversation like a mini-audition. They’re listening out for how you say things as well as what you have to say, so let your personality shine.3. Pictures rule when making TV programmes. When sending ideas to TV companies, make sure that you have thought it through from a visual point of view. It’s not just about what you say; it’s about what you show and how you look as well.4. Negotiate money only when your appearance is definitely confirmed. Be confident
This is a different way of thinking about compensation programs. There are a number of tools and processes to help with this matter. One is a survey of the compensation program's effectiveness for users, including executive management, department management, and employees. The focus of this annual survey is the following:
• What aspects of the current compensation program were most effective in the past year?
o What aspects seem to have had a positive impact on employees in terms of retention and morale?
• What aspects of the current compensation program were least effective in the past year?
o What issues did human resources seem to spend the most time discussing with employees and managers?
• What should be the focus of the compensation program in the coming year? o What are managers' and employees' expectations in terms of compensation determination? • What will prevent this from happening?
o To what extent do managers and employees understand current financial issues facing the organization?
With this understanding, human resources must answer the following five questions:
• What external market challenges or pressures will be placed on the compensation system in the coming year?
o Has the market shifted? Is there a new strategic need in the organization that will alter our market focus, either by type of job or market definition? Is the organization in a position to remain competitive?
• What internal job equity challenges or pressures will be placed on the compensation program in the coming year?
o If a job evaluation system is used, are the factors and factor weights applicable based on current strategic direction? If not, what modifications are required?
• What employee equity challenges or pressures will be placed on the compensation program in the coming year?
o Have recent market adjustments and system modifications forgotten the employees? Are we able to attract employees without causing internal pay compression?
• What financial challenges will impede the ability of the organization to successfully fund and implement needed compensation program elements?
o Can the organization sustain past financial commitments to the compensation program? If not, how will spending priorities be set?
• What changes need to be made as to how employees are recognized and rewarded for their contributions to the organization?
o Do the current recognition and reward mechanisms work to motivate employees to contribute to the organization's strategic direction? With these questions answered, human resource next must develop a strategic response. Take the five questions above and overlay the four question survey responses. This helps to develop a strategic response to each of the five key compens
Cartoon characters are something with which we have grown up with. Every kid loves to associate with one or the other cartoon characters. World of animation is full of imagination and creativity. Here imagination knows no limits. We come across various cartoon characters like Tom, Jerry, Mickey, Popeye, Tweety, etc. They all represent different personalities aspect derived from our day-to-day encounters with various living and non-living things like Mickey is a mouse, Richie rich is a millionaire boy. Kids love cartoons and like to have them on all their stuffs like clothes, quilts, shoes, socks, walls and so on. During some last years the use of cartoon printing on fabrics for kidswear has grown by
• What aspects of the current compensation program were least effective in the past year?
o What issues did human resources seem to spend the most time discussing with employees and managers?
• What should be the focus of the compensation program in the coming year? o What are managers' and employees' expectations in terms of compensation determination? • What will prevent this from happening?
o To what extent do managers and employees understand current financial issues facing the organization?
With this understanding, human resources must answer the following five questions:
• What external market challenges or pressures will be placed on the compensation system in the coming year?
o Has the market shifted? Is there a new strategic need in the organization that will alter our market focus, either by type of job or market definition? Is the organization in a position to remain competitive?
• What internal job equity challenges or pressures will be placed on the compensation program in the coming year?
o If a job evaluation system is used, are the factors and factor weights applicable based on current strategic direction? If not, what modifications are required?
• What employee equity challenges or pressures will be placed on the compensation program in the coming year?
o Have recent market adjustments and system modifications forgotten the employees? Are we able to attract employees without causing internal pay compression?
• What financial challenges will impede the ability of the organization to successfully fund and implement needed compensation program elements?
o Can the organization sustain past financial commitments to the compensation program? If not, how will spending priorities be set?
• What changes need to be made as to how employees are recognized and rewarded for their contributions to the organization?
o Do the current recognition and reward mechanisms work to motivate employees to contribute to the organization's strategic direction? With these questions answered, human resource next must develop a strategic response. Take the five questions above and overlay the four question survey responses. This helps to develop a strategic response to each of the five key compens
What is a small business? The government has introduced certain criteria including the number of employees, annual receipts, affiliates and other applicable factors to identify a small business. It can be quickly determined by using SBA's NAICS (North American Industry Classification System) Lookup. Enter the business description; NAICS will locate the business type in the resulting table.What is marketing? Marketing refers to the commercial processes involved in promoting, selling and distributing a product or service.What does marketing involve? Marketing is an organizing tool. The four basic aspects of marketing include the four Ps such as product, price, promote and provide. It inv
o Has the market shifted? Is there a new strategic need in the organization that will alter our market focus, either by type of job or market definition? Is the organization in a position to remain competitive?
• What internal job equity challenges or pressures will be placed on the compensation program in the coming year?
o If a job evaluation system is used, are the factors and factor weights applicable based on current strategic direction? If not, what modifications are required?
• What employee equity challenges or pressures will be placed on the compensation program in the coming year?
o Have recent market adjustments and system modifications forgotten the employees? Are we able to attract employees without causing internal pay compression?
• What financial challenges will impede the ability of the organization to successfully fund and implement needed compensation program elements?
o Can the organization sustain past financial commitments to the compensation program? If not, how will spending priorities be set?
• What changes need to be made as to how employees are recognized and rewarded for their contributions to the organization?
o Do the current recognition and reward mechanisms work to motivate employees to contribute to the organization's strategic direction? With these questions answered, human resource next must develop a strategic response. Take the five questions above and overlay the four question survey responses. This helps to develop a strategic response to each of the five key compens
Event Management is the act of managing or organizing events or functions occurring at a particular place and time. Events range from festivals to team building sessions, rock concerts to training sessions. Event management requires proper consultation, planning and research. Conferences, galas, summer camps, day camps, sporting events, business events, meetings and university events are the most common events.Event managers begin planning by booking an event at a particular location. They then plan for food and drink, entertainment, audiovisual needs, overnight accommodations for guests, tours and social programs and other support services. They will also help solicit sponsorships (especial
o Can the organization sustain past financial commitments to the compensation program? If not, how will spending priorities be set?
• What changes need to be made as to how employees are recognized and rewarded for their contributions to the organization?
o Do the current recognition and reward mechanisms work to motivate employees to contribute to the organization's strategic direction? With these questions answered, human resource next must develop a strategic response. Take the five questions above and overlay the four question survey responses. This helps to develop a strategic response to each of the five key compensation issues.
Here are basic examples of the thought process for auditing current compensation processes:
• External Equity Issues: Most effective. Continue current process.
• Internal Equity Issues: Least effective. Additional focus on internal job placement required.
• Employee Equity Issues: Least effective. Serious compression issues developed that need further action.
• Ability to pay issues: Most effective. Required funding of the program is understood and available.
• Reward and Recognition Issues: Most effective. High level of satisfaction with current performance assessment and rewards systems. With this information in hand, the final step is to create a focused strategic response to present to senior management. The result is a fresh look at your compensation program and a focused direction for the year ahead.
Michael Maciekowich is a National Director for Astron Solutions. His areas of expertise include the development, design, and implementation of executive, physician, and employee total cash compensation and performance management systems in all industries. His primary focus is the integration of compensation and human resource strategies with organization-specific missions, visions, values, and strategic operating plans. Michael has twenty-five years of consulting and industry compensation experience. He can be reached at 800-520-3889 or michaelm@astronsolutions.com.
Astron Solutions is a consulting firm dedicated to the delivery of HR consulting services and supportive technology. For more information about giving your compensation program a spring cleaning, please call Astron Solutions at 800-520-3889.
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