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Pay Strategy and Performance Management

Duration:
90 Minutes
Access:
6 months
Webinar Id:
700420
Register Now

Recorded Version

$195. One Participant

Recorded Version: Unlimited viewing for 6 months ( Access information will be emailed 24 hours after the completion of live webinar)

Overview:

Employee pay should not be a static figure, but should be fluid and move within the pay structure in relation to internal performance and external market conditions. Organizations need to develop an internal in-grade pay strategy that addresses pay progression in a fashion that is transparent to employees.

Over time a singular focus on annual merit increases will not enough to reward an employee's performance contribution. This session will discuss the various elements of pay movement strategies, from merit pay to general increases to how the cost of labor often trumps the cost of living. We will explore a manager's perspective on performance management, the love-hate relationship that exists with merit pay, and will point out a critical design flaw not often reported in Compensation 101 instructional manuals. Attendees will be cautioned over the infectious cost increases associated with title inflation, what is wrong with common practice performance management today, and what to do when providing competitive pay is not enough to retain and motivate employees.

Why should you attend:In this presentation we'll be talking about tactical pay strategies, with a focus on the in-the-trenches practical aspects of what to do with employee pay movement within your pay structures. This is a topic not often discussed, and offers practitioners and managers alike practical advice for dealing with their pay-for-performance challenges. Attendees will gain an understanding of various pay movement strategies that can effectively operate within the organization, as well the choices available. In addition, we will discuss the linked impact of a properly developed and administered performance management program.

Areas Covered in the Session:
  • What is an in-grade pay strategy?
  • The practical value of performance management
  • The love-hate relationship with merit pay
  • Avoiding the temptation of a general increase
  • Pay progression needs to be a planned affair
  • Cost of Living vs. Cost of Labor
  • The flaw in merit design
  • The cost spiral of title inflation
  • When merit pay is not enough
  • What is wrong with performance appraisal
  • The manager's perspective on performance management
  • Remembering the K-I-S-S principle

Who Will Benefit:
  • Compensation Practitioners
  • HR Generalists
  • Department Managers
Instructor:

Chuck Csizmar is a deep and broad experience in the design, implementation and communication of US and international compensation programs. Long recognized by WorldatWork as a Certified Compensation Professional (CCP) Chuck has been a practitioner working with US and International program design & development, global compensation review, acquisition and integration strategies, incentive & sales compensation, compensation training, expatriate programs, and performance management strategies.

Chuck is Founder & Principal of CMC Compensation Group, specializing in analytic, project management and consultative services for US and International clients. He is also associated with several Human Resources consulting firms (US and International) as a subject matter expert for global compensation issues. Prior to establishing his own consulting firm Chuck was based in London on expatriate assignment as the Director of European Compensation & Benefits for Pitney Bowes. In this position he led the design and management of Total Reward programs in seventeen countries. He is a member of WorldatWork, the Society for Human Resource Management (SHRM) and the Florida HR People & Strategy Affiliate. He has been published as a subject matter expert in several national publications and provides original material for several professional association newsletters. He has developed and hosted numerous webinars and is a featured contributing author for several HR blogs.


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