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For many employers, he says, perks and benefits—from healthcare to club membership to financial advising to concierge service— offer the greatest room for growth and the most flexibility for use as retention tools in 2012. The primary reason? They’re much more cost effective than straight-up pay raises, Wudyka says. Wudyka is the founder and managing […]
Segal, a partner with Duane Morris law firm in Philadelphia, shared his expertise at SHRM’s Employment Law and Legislative Conference, held recently in Washington, DC. [Go here for tips 1 through 13] 14. Focus on Risk Selection, Not Risk Avoidance In 2012, there’s no avoiding risk, says Segal. For example, say there’s a hiring decision […]
Parikh, who is director of product marketing at compensation software development company Callidus (www.calliduscloud.com), recently spoke to BLR on pay for performance. BLR: How well do companies really link pay with performance? Parikh: Companies basically end up spending about 8-10% of their gross revenue on variable compensation. That could be a very large amount of […]
Big companies use complex quantitative job evaluation systems, says Wudyka, who is managing principal of Westminster Associates in Wrentham, Massachusetts. However, smaller employers don’t need point count systems; they can use paired comparison. Wudyka’s tips came during a recent webinar sponsored by BLR. Paired Comparison One very efficient, effective, and low-cost method of ranking jobs […]
Hagan, a partner in the Dallas office of law firm Sarles & Ouimet, LLP, made his suggestions at a recent BLR webinar. Here are his four questions: Question 1: Will an Anticipated Change Affect Existing, Accrued Leave? If you anticipate making a change that might affect existing accrued vacation, you will have to determine if […]
Hellerman and Kochanski, who are Sr. Vice Presidents at Sibson Consulting, offered their tips at WorldatWork’s Total Rewards Conference and Exhibition, held recently in San Diego. Promotions as Performance Reward Big Bang Companies manage promotions and the accompanying promotional increase as a key reward for high performance, says Hellerman. Sameness Big Bang Promotion is an […]