Posts Tagged ‘compensation’

Attract Candidates and Retain Employees with Your Total Rewards Program

Thursday, July 26th, 2012

A total rewards program refers to all the tools your company uses to attract, engage and retain employees, as well as recruit and secure talented job candidates. When selecting their future employer or deciding whether to stay or leave a company, workers evaluate the total rewards their company offers them. WorldatWork suggests that there are five elements that make up a total rewards program: compensation, benefits, work-life initiatives, performance and recognition initiatives, and development and career opportunities. A solid total rewards strategy combines the five elements to create a workplace environment that maximizes employee engagement.

Creating an appealing program will increase morale and job satisfaction, as well as improve overall staff performance. Here are some items to keep in mind when planning your total rewards program:

Your Employees Are Unique

Carefully analyze the different staff members who make up your organization. No two employees believe in the same values or partake in the same activities. Be sure your total rewards program takes employee differences into consideration. Create a culture that allows several types of people and personalities to grow and enjoy success.

Educate Your Workforce

As an employer, you are responsible for communicating to your staff the rewards that your company provides. If your employees receive higher than average compensation or your wellness program saves staffers money, make sure they know. It is up to your company to communicate the attractive aspects of your organization. Frequently remind employees of the benefits that you offer so they’ll have a reason to stay loyal and perform better.

Emphasize Your Appreciation

Employees are more likely to stay with organizations that show them that their time and efforts have not gone unnoticed. Use your total rewards program to highlight how important your staff members are to your company. Include meaningful ways to recognize and reward employees who turn in stellar work. Make sure professional development opportunities and other tasks to help your staff reach success comprise part of your total rewards strategy. Show them you care so they won’t want to leave.

CAI’s 2012 Compensation and Benefits Conference will feature additional tactics to craft an enticing total rewards program for your workforce. The conference will also cover several topics that are imperative for attracting, retaining and engaging your employees, including flexible scheduling and helping different generations plan for retirement. In addition to the knowledge you’ll gain by attending, you’ll have the opportunity to network with more than 150 HR professionals. Register for the conference today: www.capital.org/compconf.

Photo Source: robertstinnett

Economic Recovery, Healthcare Reform and Changing Regulations

Thursday, August 12th, 2010

The three themes of CAI’s upcoming 2010 Compensation and Benefits Conference are economic recovery, healthcare reform and changing regulations.  In the past, the content of this event has focused exclusively on trends and issues regarding the utilization of the complete compensation and benefits package by employers to attract, motivate and retain employees.  This year, because of the massive change that is taking place with healthcare reform, and a constantly shifting regulatory environment, we feel it is important to include those two big categories that are affecting, and will greatly impact in the future, the decisions that organizations are making about compensation and benefits strategies.

Economic Recovery

The rapid recovery from recession that was anticipated does not appear to be in the cards.  Instead, the economy is moving in a generally good direction in fits and starts.  Two pieces of good economic news always seem to be followed by one piece of bad economic news.

Many employers would like to reward the employees who helped them through the last two years but are not yet comfortable enough to make strong decisions on pay raises and benefits packages.  To help employers understand the recent trends and discover how other organizations are handling these challenges, the Compensation and Benefits Conference will feature these sessions:

  • The Road to Recovery: How Are Employers Reacting Post-Recession
  • Hot Off the Presses – 2010 Salary Survey Results
  • Too Much Pressure on the Compensation Package: What About the Rest of the Value Proposition?
  • A Wellness Approach that Works: A Case Study
  • What’s Hot in the World of Retirement Plans?
  • Roundtable Discussion – What Have You Done to Manage Employee Morale?
  • Optimizing the Hierarchy of Pay

Healthcare Reform

If you are trying to determine how healthcare reform will affect your organization, you are likely to be waist deep in government documents, private sector predictions and expert publications.  The healthcare reform focused presentations at the Compensation and Benefits Conference will help you push the clutter to the side and identify the important decision points for your organization and what you’ll need to pay attention to as key dates approach.

Those sessions will include:

  • Got Reform, Now What?  Redefining Your Employee Benefit Strategy
  • What Does Healthcare Reform Mean to Healthcare?
  • What Impact Will Reform Have on Long-Term Medical Costs for Employers in N.C.?
  • Wellness and Reform: What is the New Potential Within Your Organization?
  • What Every HR Professional Needs to Know About the Administrative Reporting Requirements for Healthcare Reform

Changing Regulations

New regulations, methods and rules from federal agencies are outpacing new laws as the primary challenge to employer pay practices.  You can expect the U.S. Department of Labor and other agencies to focus on “employer abuses” and on self-identification by employers in the near future.  Two sessions at the conference will showcase these changes, clarify how they affect your organization and help you prepare to make key decisions:

  • A New Attitude at U.S. Wage and Hour: Are You Ready?
  • Wage and Hour Compliance

CAI’s 2010 Compensation and Benefits Conference will take place on Thursday, Sept. 16 from 8:30 a.m. to 4:45 p.m. and Friday, Sept. 17 from 8:30 a.m. to 11:45 a.m. at the McKimmon Center in Raleigh.  If you are involved in attracting, motivating and retaining employees, or tasked with determining how healthcare reform will affect your organization, you will not want to miss this event.  For more information and to register, go to http://www.capital.org/compconf.

Photo Source: Scott Ableman