Companies spent a great deal of money on employee pay, yet often don’t have a plan to account for why they do what they do. Or even to know whether they’re receiving the right value (ROI) for that expense. Spending such large sums without understanding the business-related reasons behind it inevitably leads to additional expense and waste. And without an understanding, or without proper controls in place the inevitable occurs; a bloated payroll and a growing urgency that we have to do “something” to fix the problems that have infected our reward programs.
If you do have a bloated payroll, or if you fear a growing loss of control over your company’s largest single expense item (employee pay), then you should consider having your organization go on a diet – the Seven Step Compensation Diet.
Attendees will first learn what to look for, to gauge the extent of the “challenge’ ahead of them. What compensation programs are broken, which might be bent, and what just doesn’t work as well anymore.
From there we will take a step-by-step approach to getting your compensation affairs (and programs) in order. These steps are building blocks, each placed upon the other, establishing a firm foundation of good practices, management discipline and a focus on what is needed to ensure and maintain organization success.
Each step focuses on a particular fundamental criteria for successful compensation programs, about getting things right, and answers the why? question.
Participants will be challenged to change their behavior, and to encourage that others, especially leaders, change as well. In effect practitioners and managers alike will have to stop doing certain things (select policies, practices, procedures, custom & practice) and start doing others. Start doing something new. Or else you will fail.
We will not be talking management buzz phrases or using corporate speak that comes from 30,000 feet. You will hear practical advice that you can start to implement that very day.
If you follow the diet, you can get your arms around (better control) your payroll issues, as well as morale, engagement, turnover and productivity issues as well.
Areas to be Covered:
Why management sometimes needs to go on a compensation diet
How effective are my pay programs?
Should you have a compensation strategy?
The advantage of having written policies, procedures and how-to instructions for managers
What is Position Control and how it can help
How to use and not abuse a budget
Building a storyboard with metrics
What it means to stay the course
A dieter’s success story
Who will Benefit:
This is a must attend webinar for all: