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5 Components of an Effective Pay-for-Performance Program There are 5 major components of an effective pay-for-performance program: Evaluation forms. These can be differentiated by employee groups if necessary. The evaluation form should clearly show the rating options for each category or goal and overall ratings. The form should clearly define what constitutes each performance or […]
Beachboard made his remarks at SHRM’s Annual Conference and Exhibition, held recently in Chicago. He is a shareholder in the Los Angeles and Torrance, California, offices of law firm Ogletree Deakins. Urban Legend #1 Assistants and secretaries need to have BlackBerries to better support those they work for—and they understand that (and don’t expect to […]
Do you use compa-ratios to check to see if your employee pay is meeting your organization’s compensation goals? What is a Compa-Ratio? For those of us just getting started with compensation metrics, the term “compa-ratio” may sound foreign. What is it? What does it do? “It’s basically taking a salary and dividing it by the […]
Read what your CFO reads, Ahlrichs says, and send article clippings to the CFO to make your case over time. For example, says Ahlrichs, check out: CFO Magazine CFO.com The Economist Ahlrichs, a consultant with Gregory & Appel in Indianapolis, offered his take on CFOs at SHRM’s Annual Convention and Exposition held recently in Chicago. […]
“What are compensation metrics? Basically, when we talk about a metric, we’re talking about a measurement. We’re talking about a statistic or a measurement that is intended to assess value and effectiveness.” Terry Pasteris explained in a recent BLR webinar. “So, depending on what aspect of value or effectiveness or what aspect of our program […]
How Can You Use Incentive Pay for Nonexempt Employees? “Pay for performance can apply to all levels of jobs within an organization. Recent studies have shown that organizations are beginning to use more variable compensation (or incentives) as it relates to the proportion of base pay, and they’re marketing that to employees—not only when they’re […]
HR tends to avoid CFOs and knows little about them, says consultant Karl J. Ahlrichs, SPHR. CFOs are often reclusive and cautious, but you are not going to be successful if you can’t sell ideas to the CFO. Why is the relationship with the CFO so important? CFOs often have the final approval of HR/compensation […]
Pay Deductions: What Can and Can’t be Deducted? Q. Is it possible to deduct expenses from an employee for drug screens and physicals if they leave within the 90-day probationary period? A.That is something that is a function of state law, generally. Most state laws say that if an employer is going to require a […]
In yesterday’s Advisor, Attorney Jonathan Segal, one of SHRM’s top speakers, offered his tips on privacy in the workplace. Today, his tips on searches, plus an introduction to Sales Compensation: How to Create, Manage, and Grow a Competitive Strategy That Works webinar. Segal made his remarks at SHRM’s Annual Conference and Exhibition, held recently in […]
For companies in the private sector, the employer determines whether there is an expectation of privacy, says Attorney Jonathan Segal, and unwary employers may create the right to privacy if they are not careful. (Government employees generally have a constitutional right to a higher level of privacy than those in the private sector.) Employers can […]