Author Archive

Helpful Information from 3 Presentations at the 2014 Compensation and Benefits Conference

Thursday, August 21st, 2014

Comp Ben Save Date 2014 (2)CAI hosted its 2014 Compensation and Benefits Conference at the McKimmon Center on Thursday, August 14 and Friday, August 15. More than 200 HR professionals and company executives attended the two-day event to review and discuss emerging workplace trends surrounding compensation, benefits and total rewards, as well as the impact these trends leave on culture and profitability.

This year’s conference speakers shared presentations on how to attract and motivate top talent, strategies to increase employee engagement, reinforcing a positive workplace culture, and more. Keynote presentations for the 2014 conference lineup included:

The Future of Attraction, Retention and Motivation: How Compensation Fits into the Process Anne Ruddy – WorldatWork

What Would Healthcare Look Like If Getting It at the Lowest Cost Was Your Key Priority? Skip Woody – Hill, Chesson & Woody Employee Benefit Services

Green Goldfish – 15 Ways to Drive Engagement & Reinforce Culture Stan Phelps – 9 INCH marketing

Leverage Marketplace Trends When Making Decisions about Compensation and Benefits Strategies Molly Hegeman – CAI

In addition to the keynote sessions, conference participants had the opportunity to attend several of the many breakout sessions. Why performance management fails, building high performing teams, work-site wellbeing, and understanding survey data are some of the topics of this year’s breakout sessions.

Below are three sets of insights conference speakers shared with last week’s audience:

–Anne Ruddy shared the changes in employee attitudes from recipients to consumers of rewards in her keynote presentation:

From:

Employer loyalty

Traditional work design

Pay = position

Retirement security

To:

Self-managed careers

Virtual, flexible environments

Pay = performance, market

Individual career management

 

–In the breakout session Why Performance Management Fails, Mike Maciekowich shared five reasons why companies need performance management systems:

  1. Help managers to observe their staff more closely and to do a better coaching job.
  2. Motivate employees by providing feedback on how they are doing.
  3. Provide back-up data for management decisions concerning advancement, transfers, dismissals, and so on.
  4. Improve organization development by identifying people with promotion potential and pin-pointing development needs.
  5. Establish a research and reference base for personnel decisions.

 

–CAI’s Sherry Hubbard-Bednasz explained the purpose of salary surveys in her presentation Taking the Mystery Out of Survey Data:

Salary surveys:

  • Provide a fair representation of pay practices occurring in the market
    • Sample reflects population
    • Consider source, methodology, transparency
  • Show how variables impact pay
    • Size of company
    • Industry/sector
    • Geography
  • Indicate trends in pay
    • Overall market movement
    • Movement in certain segments
  • Inform compensation decisions as a guide, not absolute

For additional information on CAI’s conferences, please go to https://www.capital.org/eweb/DynamicPage.aspx?site=cai&webcode=cai-training-conferences.

 

4 Ways to Keep Company Productivity High in the Summer Months

Tuesday, July 29th, 2014

work summerSummer can be full of distractions. The hot weather of the season encourages employees to dedicate fewer hours to the office or take vacations with their friends or families. Your clients may also be making vacation plans, so their requests may decrease temporarily. For these reasons, productivity during the summer months can slow down. However, with proper planning and participation from managers and direct reports, you can keep business moving as usual. Try the four ideas below to keep your company productive:

Devise a plan

Because it’s vacation season, fewer people will be in the office. Missing a few employees doesn’t mean you can’t continue company projects in an efficient and effective way. Schedule a few minutes with your employees before they take time off to discuss the tasks and assignments that need to be completed while they are away. Teamwork will be instrumental in meeting or exceeding deadlines.

Practice flexibility where you can

Many employees prefer to spend their summer evenings and free time with their friends and loved ones. Being more flexible in the summer months to allow your employees to get home and spend quality time with people outside of work will be appreciated. Several companies are partaking in the trend of letting staff members leave early on Fridays. Similar to the effects of a nice summer break, leaving early on Fridays will have your employees returning invigorated and ready to perform on Monday morning. Another option to encourage flexibility is to have your employees come in earlier or work through their lunch breaks to leave the office sooner.

Work ahead of schedule

The demands of your top clients might slow down as people begin to make plans for summer trips. Instead of waiting for a request, work on a project that has been on the bottom of your to-do list for the past several months. Be productive and efficient with the tasks you decide to tackle during the summer months. If you know of a project that you’ll be working on in the future, go ahead and start working on it. The more you get done during the slower months, the less stressed or pressed for time you’ll be in the busier months.

Have some summer fun

Maintaining stellar productivity over the summer is a goal of most companies. Although everyone is in agreement that keeping up productivity is important, summer is all about having fun. Don’t lose opportunities to engage your employees and show them that they are valued. Plan a fun activity, like a pizza party or a trip to a local baseball game, to show them that you appreciate their contributions throughout the year.

For additional tips for keeping business productivity high, please call a member of CAI’s Advice and Resolution team at 919-878-9222 or 336-668-7746.

 

 

Compensation Rises as Top Contributor to Job Satisfaction for Employees

Tuesday, July 15th, 2014

money blogAccording to a recent research report by The Society for Human Resource Management (SHRM), employees in the US are now connecting their compensation to their happiness at work. The report, Job Satisfaction and Engagement: The Road to Economic Recovery, revealed that when asked what was very important to them, 60 percent of the participants said compensation/pay, which made it the biggest contributor to job satisfaction. SHRM conducted the survey in 2013 and polled 600 randomly selected employees at small to large companies.

Compensation/pay held the top spot in the employee satisfaction survey before the recession hit, specifically between 2006 and 2007. During the years of the recession, compensation/pay held lower rankings. SHRM conducts this survey annually.

“Incomes have grown slowly since the recession, and that undoubtedly is having an impact on workers’ priorities and one explanation for the leap to the forefront by compensation,” said Evren Esen, director of SHRM’s Survey Research Center.

Other noteworthy data the survey showed include that four generations of workers ranked compensation/pay as either the top or second-choice aspect of job satisfaction and employees at all job levels, with the exception of executives, ranked compensation/pay as one of the top three contributors to overall job satisfaction.

For more information on how compensation affects job satisfaction, retention and recruiting, please join us for the 2014 Compensation and Benefits Conference at the McKimmon Center on August 14 and August 15. Specific presentations that will focus on employee compensation and salary data include:

The Future of Attraction, Retention and Motivation: How Compensation Fits into the Process Anne Ruddy – WorldatWork

Leverage Marketplace Trends When Making Decisions about Compensation and Benefits Strategies Molly Hegeman – CAI

Taking the Mystery Out of Salary Survey Data Sherry Hubbard-Bednasz – CAI

Proactive Uses of Compensation Analysis – An Employer’s Perspective Kaleigh Ferraro – CAI & Member Company Panel

Additional topics presenters will cover include: why performance management fails, driving engagement and reinforcing culture, building high-performing teams, controlling healthcare costs, wage and hour regulations, retirement planning, and more! Visit www.capital.org/compconf for detailed information about speakers and session topics. Register today!

Photo Source: Miran Rijavec Stan Dalone

 

 

Honesty is the Key for Attracting and Retaining Employees

Tuesday, July 1st, 2014

employer  brandRandstad US recently released the results of its 2014 Employer Branding Study, which reveals the personality traits job candidates look for when selecting an employer. The study also identifies job aspects that are most attractive to workers.

The majority of workers (78 percent) chose honesty as the first trait they look for in an employer according to the study. A significant portion of the participants also want to work for a company that is reliable, secure and well-respected. Traits job hunters rated as least critical include whether a company is daring or robust.

“…It’s extremely valuable for employers to know honesty holds such high importance,” said Jim Link, Chief HR Officer of Randstad North America. “Leading organizations understand a strong employer brand creates an important advantage for attracting today’s best talent, so identification of the top attributes wanted in a company allows leaders to refine their brand strategy.”

Creating a strong employer brand and building up a solid reputation with your current employees and customers will help you retain and recruit some of the best candidates for your open positions. Below are some blog posts that will help you get started on shaping your company’s image:

Having a strong employer brand can make a difference on whether you can secure a great candidate for a vacancy or how a news outlet portrays you to the public. Read this blog to find four tips for enhancing your employer brand: http://blog.capital.org/strengthen-your-employer-brand-with-4-tips/ .

Social media allows organizations to increase their brand awareness and interact on multiple levels with their customers. Although your company will experience several benefits when taking part in different networking sites, there are risks to be aware of as well. Protect your company’s reputation and review tips for creating a social media policy here: http://blog.capital.org/create-a-social-media-policy-to-protect-your-business-and-employer-brand/.

Building trust in an organization is no easy feat. Time, dedication and care are essential for keeping trust nurtured and sustained. Trust improves almost every business facet, including retention, morale, communication, customer service and productivity. Please take a look at these four ways to build and sustain trust at your organization: http://blog.capital.org/four-ways-to-build-and-sustain-trust-in-your-workplace/.

For additional ways to bolster your company’s reputation with future job candidates, please call CAI’s Advice and Resolution Team at 919-878-9222 or 336-668-7746.

 

6 Reasons Taking Your Vacation Will Improve Your Work Performance

Tuesday, June 17th, 2014

7956465780_5fb7b6d55a_zSummer is on its way. If you haven’t taken a vacation already and aren’t planning to do so, I would ask you to consider taking your time off.

You will enjoy a number of benefits when you use your vacation days. Some people prefer to work all of the time and some people have to work all of the time, but in either case, taking some time off, even just a few days, will improve your work performance.

Productivity generally lowers during the summer months. Taking a vacation will help you avoid being sluggish around the workplace. Check out the six benefits of using your vacation time below:

  • Spending time outside of work will help you focus on the important things in your life that do not revolve around your work, such as family and friends.
  • Your mind can relax. Taking time off will allow your mind to take a break, get some rest, and work at its optimal level when you return to the workplace.
  • A good vacation is greatly beneficial for those in roles that require creative and innovative thinking. Not focusing on your busy work week will enable you to get inspired and recharge your creative energy.
  • You can use your free time to complete tasks, get errands done or dedicate to yourself. Carving out time for the things you enjoy will improve your satisfaction in other areas of your life, like work.
  • Time away from work can help you figure out an issue that is currently stumping you in the workplace. Walking away from the problem and returning after a relaxing vacation can have you looking at the same issue from a different perspective.
  • Keep yourself healthy by taking a breather from your position. Stress and pressure are released when you’re not focused on your responsibilities at work, which allows you to sleep better, concentrate longer and be happier.

Make sure to use your vacation time this summer. For any questions regarding vacation time and its many benefits, please call CAI’s Advice and Resolution team at 919-878-9222 or 336-668-7746.

Photo Source: Kevin Dooley

 

 

 

Total Rewards and Business Strategy Are Not Aligned at Most Companies

Tuesday, June 10th, 2014

Expensive giftThe Total Rewards Survey developed by Mercer analyzes the practices companies use to align compensation, benefits, training and career development with today’s business priorities. Findings from the survey show that while more than half (56 percent) of organizations made a significant change to their total rewards strategy in the past three years, less than one-third (32 percent) said their total rewards and business strategies fully align.

Eighty-nine percent of organizations that participated in the survey ranked attracting and retaining the “right” talent as the most noteworthy challenge of their overall total rewards strategy. Additional challenges that were noted as very important included: collecting relevant market compensation data, keeping rewards affordable, communicating the value of rewards to employees, and ensuring pay for performance and performance differentiation.

From experiences with many clients, Mercer has highlighted several actions employers can put in place to address the holes between total rewards strategies and their business strategies:

“As companies focus on the cost of their talent, attracting and retaining the ‘right’ employees and differentiating rewards for top performers are challenges that can be made easier by incorporating the use of workforce analytics,” said Mary Ann Sardone, Partner in Mercer’s Talent practice and Regional Leader of the firm’s Rewards segment.

“Additionally, incorporating offerings such as career development and work/life balance initiatives into total rewards strategies caters to the needs of [employees] in the workplace.”

Leading the list of ways to enrich the employee experience in other ways than pay is giving employees the ability to make a difference in their job functions. Other contenders on the list were career progression, healthy living/wellness and recognition.

For additional information on recent trends and developments in total rewards strategy, including an in-depth look at what North Carolina employers are doing, please join us for the 2014 Compensation and Benefits Conference on August 14 and August 15 at Raleigh’s McKimmon Center.

This year’s keynote presenters and presentations include:

The Future of Attraction, Retention and Motivation: How Compensation Fits into the Process Anne Ruddy – WorldatWork

Green Goldfish – 15 Ways to Drive Engagement & Reinforce Culture Stan Phelps – 9 INCH marketing

What Would Healthcare Look Like If Getting It at the Lowest Cost Was Your Key Priority? Skip Woody – Hill, Chesson & Woody Employee Benefit Services

Leverage Marketplace Trends When Making Decisions about Compensation and Benefits Strategies Molly Hegeman – CAI

Additional topics that speakers will cover at the conference include: how compensation affects retention, the future of healthcare cost, driving employee engagement, analysis of the latest market data in total rewards, building high-performing teams, and understanding survey data.

For more information on conference speakers and topics, please visit www.capital.org/compconf.

A Strong Partnership Between HR Leaders and CFOs Improves Business Performance

Thursday, June 5th, 2014

6861256042_0b37739bcd_zCompanies that have a strong relationship between their CFOs and chief human resources officers (CHROs) are linked to superior business performance. Professional services organization EY found these results from its global survey, Partnering for performance, which shared information from 550 CFOs and CHROs.

The findings of the survey show that companies that have become more collaborative over the past three years report financial growth and stronger improvement in a number of HR metrics, such as employee engagement and productivity.

From EY’s research, four key factors were identified as reasons that have driven HR leaders and CFOs closer over those three years:

  • Finding good talent is hard and labor costs are increasing.
  • The importance of HR is rising in corporate hierarchy.
  • Companies are constantly developing new products and services to adapt to the rapidly changing business environment.
  • In an effort to achieve greater success and efficiency, more organizations are transforming their business models.

“…Typically, CFOs have tended to view human capital primarily as a cost, while CHROs have viewed it primarily as an asset that requires investment,” Dina Pyron, Global Human Capital Leader at EY says. “To really maximize employee engagement and improve workforce productivity…the CFO and CHRO need to find ways to increase collaboration effectively and efficiently.”

Having highly-efficient teams that can interact with each other to achieve business goals and eliminate inefficiency is a desire of all employers. Here are some blog posts that offer tips in creating better collaboration and teamwork among the different groups at your organization:

 

Key Learnings from 5 Different Areas of State and Federal Employment Law

Thursday, May 22nd, 2014

PPT Slide ELLU 2014More than 430 HR professionals and company executives attended CAI’s 2014 Employment and Labor Law Update. Participants traveled to the McKimmon Center in Raleigh for the two-day event on May 14 and May 15 to receive the latest updates in state and federal law.

Knowledgeable attorneys from Ogletree Deakins, as well as an expert from CAI, shared important changes in the law at the conference. Topics the presentations covered included workplace investigations, FMLA, wage and hour issues, the ADA, and more.

Below is some of the information, which covers five different areas of employment law, discussed at the conference:

Expect more aggressive investigative tactics from the EEOC:

  • The EEOC is making extensive requests for information not germane to the charge at hand
  • Increased threats and uses of subpoenas
  • Increased demand for on-site investigations
  • During on-site investigations, EEOC increasing demands to review signage, personnel files and make general employee inquiries unrelated to charge
  • Increased demands for on-site tours and witness interviews
  • Aggressive behavior in settlement negotiations

Enforcement Trends in Immigration Law:

  • There’s nothing random about audits from ICE
    • Most audits are lead-driven and are discovered by a tip-line complaint, local law enforcement data sharing, and federal agency data sharing
  • Avoid these common I-9 mishaps:
    • Using a wrong or outdated I-9 form
    • Not completing Section 1 or 2 in the specified time frame
    • A new hire did not sign Section 1
    • Someone else completes Section 1 but they do not have a Preparer or Translator Certification
    • Hire date is missing
    • Employer’s address is incomplete

Updates in the ADA:

  • Leave as a reasonable accommodation
    • Granting a leave of absence may be considered a reasonable and required accommodation under the ADA if no other sufficient reasonable accommodation is available
    • Maximum leave policies don’t satisfy the ADA. However, that doesn’t mean you can’t have one. You will just have to consider the ADA before discharging an employee for exceeding the maximum
    • An accommodation is “reasonable” if it “seems reasonable on its face, i.e., ordinarily in the run of cases”—in other words—if it appears feasible or plausible

Updates in NC Legislation—Bills of Interest:

  • House Bill 846: Job and Education Privacy Act- would prohibit employers and colleges from requiring individuals to disclose access information to personal social media and email accounts
    • Passed the house on May 16, 2013 and is in the senate; eligible for consideration in the 2014 session
  • House Bill 872: Protect NC Right-To-Work – declares it unfair trade practices for any contract to require a contractor or sub-contractor to use unionized labor. Contracts involving federal funds would be exempt
    • Passed in the House on May 2, 2013 and is in the senate; eligible for consideration in 2014 session

The NLRB is cracking down and scrutinizing company rules in several business areas, including social media:

  • Avoid the following in your company social media policy to stay on good terms with the NLRB
    • Prohibiting discussion of wages, benefits, and other terms and conditions of employment
    • Prohibiting anyone from sharing confidential information without clarifying the definition
    • Prohibiting “no-disparagement” or words of “negative impact”
    • Vague restrictions about inappropriate conversations
    • Prohibiting the use of trademarks or company logos

For additional information on CAI’s conferences, please go to https://www.capital.org/eweb/DynamicPage.aspx?site=cai&webcode=cai-training-conferences.

 

Wellness Programs Provide Measurable Improvements in Company Medical Costs and Risk Profiles

Tuesday, May 6th, 2014

office wellnessIn an effort to beat rising health care costs, employers are implementing programs that directly influence employees’ individual behaviors and health habits, according to the Willis Health and Productivity Survey conducted by Willis North America Human Capital Practice. Nine hundred employers, ranging in fewer than 100 employees to more than 10,000 employees, participated in the survey.

The health-focused survey shows that the return on investment from wellness programs is positive. Nearly half (49 percent) of the respondents with a wellness program cited measurable improvement in their organization’s medical costs or an improved risk profile among employees. Seventy-eight percent of the respondents with wellness plans said they were using an incentive to drive participation in employer-sponsored programs.

Companies are using their wellness programs to address behavioral change and lifestyle issues, like exercise and nutrition. Some key findings of the survey included:

  • Sixty-one percent of employers said that employees’ health habits are the number one challenge in controlling health care costs. High catastrophic cases ranked second with 47 percent and compliance due to health care reform was third with 34 percent.
  • Ninety-three percent of employers believe that healthier employees are more productive. However, few are measuring the impact on productivity of employee absenteeism (22 percent) and FMLA (19 percent).
  • The number one strategy organizations say they are using to address health care costs is to provide employees with tools and information in order to be better consumers. Sixty-four percent of respondents reported that as their best strategy.

Want to encourage your employees to maintain a healthier lifestyle? Check out some of the blogs below that focus on fitness and healthy living for tips:

Review this blog for tips in helping your employees achieve the right balance for their life at work and outside of work: http://blog.capital.org/help-your-employees-achieve-and-maintain-worklife-balance/.

Looking for ways you can incorporate fitness into the office? This blog includes several work-friendly exercises: http://blog.capital.org/enhance-your-health-and-productivity-with-work-friendly-exercises/.

Stress can lead to serious health consequences for your employees. Read this blog to find out how you can help your employees manage their stress levels: http://blog.capital.org/america-is-stressed-five-tips-to-help-your-employees-prevent-the-effects-of-workplace-stress/.

Employee-sponsored wellness programs provide organizations with many benefits. If you’re interested in starting one at your organization, you will want to take a look at this blog: http://blog.capital.org/create-a-healthier-workplace-with-a-company-wellness-program/.

American Workers Are More Interested in Money Than Time

Tuesday, April 29th, 2014

money over timeA recent survey from national finance recruitment firm Accounting Principals indicates that money is more important than time for most Americans. More than 1,000 adults participated in the survey that the finance firm conducted from January 17 to January 24 in 2014.

According to the survey results, 79 percent of working Americans would prefer a 5 percent raise instead of an extra week of vacation. Of the respondents, only 20 percent preferred the extra week. Statistics from the survey show that income level and seniority within a company does not make a difference when it comes to the participants’ preferences.

Revelations from the survey show that Americans can’t afford to shorten their work schedule if that means taking a pay cut. Eighty-five percent of respondents wouldn’t give up any of their salary for their workday to be shortened by one hour each day. Half of the participants who said they wouldn’t give up any of their salary report not doing so because they can’t afford to do so.

How American workers use their spare time was also analyzed for Accounting Principals’ survey. When participants do have time off, 48 percent choose to spend time with their family while 45 percent use the time to run errands. Fitness is also a priority for American workers. One-third of survey respondents chose to go to the gym if they were given an extra hour each day. Additional activities Americans would choose to do if they had an extra hour include sleeping/napping, watching TV and going to happy hour.

Although the survey shows that Americans value money over time, many employers are not able to give bonuses or raises for the year. Money is not always the reason why employees stay at a company either. Employers can provide their workers with several valuable perks that recognize and reward their contributions, make their work life and home life easier, or help them stay on track with their career goals.

Below are some blogs to help you reward and motivate your staff with or without money, check them out:

In this video blog, CAI’s Vice President of Membership, Doug Blizzard, explains how making praise a priority, helps employee morale and motivation soar — http://blog.capital.org/what-is-the-best-employee-reward/ .

You can find 19 easy ways to recognize and reward employees at no or low cost to the employer in this blog — http://blog.capital.org/19-low-cost-ways-to-recognize-employee-achievements/ .

Doug Blizzard encourages employers to not make the common mistakes of overlooking or devaluing the importance of pay to employees’ motivation in this video blog — http://blog.capital.org/are-you-paying-your-employees-enough-money/.

Looking to build a positive employer-employee relationship at your organization? Review the four tips on this blog to achieve your amicable goal — http://blog.capital.org/4-steps-for-building-positive-employer-employee-relationships/.

Photo Source: Jay Sumlin