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Casual Articles - Compensation Resources, Inc. Releases Its 2005 Year-End Compensation Survey
I encourage each of you beef cattle breeders to consider these four steps in your Beef Cattle Marketing program.BUILD THE RIGHT PRODUCT There is no question that the most important thing in seedstock marketing is to develop the right product. That product is cattle with the kind of genetics that satisfy customers, solve problems and make money. To do this a breeder not only needs good cattle, he must also define a primary market area and learn what the majority of potential customers within that area need and want. And this is not a one-time thing. Keeping up with customer demand is an ongoing proposition.GET
ACTION EXPERIENCED
2004 Results 2005 Results
Action Actual 2004 Projected 2005 Actual 2005 Projected 2006
Layoffs 28.8% 13.5% 20.1% 11.4%
Hiring Freezes 19.8% 9.0% 14.8% 6.7%
Salary Freezes 7.2% 2.7% 9.4% 4.7%
Cutbacks in pay 0.0% 0.0% 3.4% 1.3%
Sta
A nonprofit corporation has the public’s best interest at heart. It may have an environmental, educational, religious, scientific, or literary focus (among others). In return for their services, the public can make donations to these companies and then deduct the amount from their federal taxes. In this way, it sure is a win-win situation.Although it sounds pretty straight forward, a nonprofit can be a complicated entity. Therefore, it is wise to know where you can find answers to the many questions that are bound to crop up. The easiest place to uncover these questions is online because there are numerous websites that
Results indicated that the average merit/salary increase for all employee functional groups was 4.0% in 2005, and 4.2% is the average projected merit/salary increase for all groups in 2006, an increase over 2004 year-end survey results. Generally speaking, Privately-Held companies reported higher percentages of actual 2005 and budgeted 2006 merit increases overall as compared to Publicly-Traded and Not-For-Profit organizations. As reported in 2004, survey participants indicated that they expected the number of layoffs, hiring freezes, and salary freezes to decrease from 2004 to 2005; in fact, projections were accurate, as respondents in this year’s survey reported actual decreases in these corporate events.
Highlights of this year’s results, including a comparison with the prior year’s findings:
MERIT/SALARY INCREASE
2004 Results 2005 Results
Group Actual 2004 Projected 2005 Actual 2005 Projected 2006
Executive 4.3% 4.3% 4.5% 5.1%
Management 3.8% 3.8% 4.1% 4.4%
Exempt Salaried 3.6% 3.7% 4.1% 4.0%
Non-Exempt Salaried 3.5% 3.6% 3.6% 3.7%
Hourly/Production 3.5% 3.5% 3.8% 3.8%
All Groups Average 3.7% 3.8% 4.0% 4.2%
These results reflect a general rise in merit increase budgets and awards, consistent with the upward swing in the marketplace with regard to labor conditions. Consistent with these findings is the general expectancy of the following corporate events among participants (including a comparison with the prior year’s findings):
ACTION EXPERIENCED
2004 Results 2005 Results
Action Actual 2004 Projected 2005 Actual 2005 Projected 2006
Layoffs 28.8% 13.5% 20.1% 11.4%
Hiring Freezes 19.8% 9.0% 14.8% 6.7%
Salary Freezes 7.2% 2.7% 9.4% 4.7%
Cutbacks in pay 0.0% 0.0% 3.4% 1.3%
Sta
No business can flourish without an efficient and advanced telecommunications infrastructure in its offices and factories. All employees need a communication device to maintain their efficiency and save precious time. Obviously it means the establishment of an extensive telecom network in your offices. A big chunk of your budget has to be allocated for the successful operation and optimum utilization of telecom resources. You need to maintain a separate department to oversee the functioning of the telecom network and its finances.This means that you can employ a team of expert auditors to keep an eye on the billing of th
Results indicated that the average merit/salary increase for all employee functional groups was 4.0% in 2005, and 4.2% is the average projected merit/salary increase for all groups in 2006, an increase over 2004 year-end survey results. Generally speaking, Privately-Held companies reported higher percentages of actual 2005 and budgeted 2006 merit increases overall as compared to Publicly-Traded and Not-For-Profit organizations. As reported in 2004, survey participants indicated that they expected the number of layoffs, hiring freezes, and salary freezes to decrease from 2004 to 2005; in fact, projections were accurate, as respondents in this year’s survey reported actual decreases in these corporate events.
Highlights of this year’s results, including a comparison with the prior year’s findings:
MERIT/SALARY INCREASE
2004 Results 2005 Results
Group Actual 2004 Projected 2005 Actual 2005 Projected 2006
Executive 4.3% 4.3% 4.5% 5.1%
Management 3.8% 3.8% 4.1% 4.4%
Exempt Salaried 3.6% 3.7% 4.1% 4.0%
Non-Exempt Salaried 3.5% 3.6% 3.6% 3.7%
Hourly/Production 3.5% 3.5% 3.8% 3.8%
All Groups Average 3.7% 3.8% 4.0% 4.2%
These results reflect a general rise in merit increase budgets and awards, consistent with the upward swing in the marketplace with regard to labor conditions. Consistent with these findings is the general expectancy of the following corporate events among participants (including a comparison with the prior year’s findings):
ACTION EXPERIENCED
2004 Results 2005 Results
Action Actual 2004 Projected 2005 Actual 2005 Projected 2006
Layoffs 28.8% 13.5% 20.1% 11.4%
Hiring Freezes 19.8% 9.0% 14.8% 6.7%
Salary Freezes 7.2% 2.7% 9.4% 4.7%
Cutbacks in pay 0.0% 0.0% 3.4% 1.3%
Sta
Let me begin by stating that this article is not a discussion about the military or the pros and cons of war. It is about learning some of the most powerful persuasion strategies in use today. And the truth is, military recruiters are some of the best salespeople in the world. They have to be. When you enlist, you agree to a four-year commitment. During this time, you give up your freedom. You must do what you are told no matter how much you might not like it or the people who or telling you to do it. This is ironic because the majority of those who enlist are young men, who sign up at a time in life when many of them te
Highlights of this year’s results, including a comparison with the prior year’s findings:
MERIT/SALARY INCREASE
2004 Results 2005 Results
Group Actual 2004 Projected 2005 Actual 2005 Projected 2006
Executive 4.3% 4.3% 4.5% 5.1%
Management 3.8% 3.8% 4.1% 4.4%
Exempt Salaried 3.6% 3.7% 4.1% 4.0%
Non-Exempt Salaried 3.5% 3.6% 3.6% 3.7%
Hourly/Production 3.5% 3.5% 3.8% 3.8%
All Groups Average 3.7% 3.8% 4.0% 4.2%
These results reflect a general rise in merit increase budgets and awards, consistent with the upward swing in the marketplace with regard to labor conditions. Consistent with these findings is the general expectancy of the following corporate events among participants (including a comparison with the prior year’s findings):
ACTION EXPERIENCED
2004 Results 2005 Results
Action Actual 2004 Projected 2005 Actual 2005 Projected 2006
Layoffs 28.8% 13.5% 20.1% 11.4%
Hiring Freezes 19.8% 9.0% 14.8% 6.7%
Salary Freezes 7.2% 2.7% 9.4% 4.7%
Cutbacks in pay 0.0% 0.0% 3.4% 1.3%
Sta
Former managing director of Boston-based integrated marketing firm Polese Clancy, Christine Arena now calls the West Coast home. She is author of Cause for Success (New World Library, 2004) and The High-Purpose Company (Collins, 2006). In this interview, she describes the “litmus test” she developed to identify high-purpose companies, and provides advice on what organizations can do to meet their corporate responsibility goals.The term “corporate social responsibility” is used quite liberally these days. How do you define it? There are a lot of people in the business world tha
Executive 4.3% 4.3% 4.5% 5.1%
Management 3.8% 3.8% 4.1% 4.4%
Exempt Salaried 3.6% 3.7% 4.1% 4.0%
Non-Exempt Salaried 3.5% 3.6% 3.6% 3.7%
Hourly/Production 3.5% 3.5% 3.8% 3.8%
All Groups Average 3.7% 3.8% 4.0% 4.2%
These results reflect a general rise in merit increase budgets and awards, consistent with the upward swing in the marketplace with regard to labor conditions. Consistent with these findings is the general expectancy of the following corporate events among participants (including a comparison with the prior year’s findings):
ACTION EXPERIENCED
2004 Results 2005 Results
Action Actual 2004 Projected 2005 Actual 2005 Projected 2006
Layoffs 28.8% 13.5% 20.1% 11.4%
Hiring Freezes 19.8% 9.0% 14.8% 6.7%
Salary Freezes 7.2% 2.7% 9.4% 4.7%
Cutbacks in pay 0.0% 0.0% 3.4% 1.3%
Sta
The one thing almost all the women I meet have in common is that they are too smart for their own good! This is probably true for you, too!If you have great ideas all the time and are very passionate about what you do, and you can never seem to get everything done when you want it done, congratulations - this is you.I understand that you don't want to give anything up, and coming up with the brilliant ideas makes you happy – so don't stop doing it. Instead, you need a tool to keep you focused so you can complete the highest priority items so you can have the cash flow you deserve.Determining your prioriti
ACTION EXPERIENCED
2004 Results 2005 Results
Action Actual 2004 Projected 2005 Actual 2005 Projected 2006
Layoffs 28.8% 13.5% 20.1% 11.4%
Hiring Freezes 19.8% 9.0% 14.8% 6.7%
Salary Freezes 7.2% 2.7% 9.4% 4.7%
Cutbacks in pay 0.0% 0.0% 3.4% 1.3%
Staffing Increases 46.8% 45.0% 50.3% 47.7%
Results indicated that target awards for Short-Term Incentive Plans are much higher in Publicly-Traded companies as opposed to Privately-Held companies and Not-for-Profit companies. Results also revealed that target awards as a percentage of base salary increase as revenues increase. Overall, in terms of Long-Term Incentive Plans, respondents report a general prevalence of cash-based plans within their companies; however, Non-Qualified Stock Options are the most commonly provided equity award in Publicly-Traded companies. Stock Appreciation Rights continue to be the least commonly used Long-Term Incentive Plan. In terms of the Compensation Package Mix, base salary remains the largest percentage of the mix among Privately-Held and Not-for-Profit organizations, followed by Annual Bonus/Incentives and Long-Term Incentives. On the other hand, there is an increased emphasis on Annual Bonus/Incentives and Long-Term Incentives among Publicly-Traded companies, particularly at the senior management and executive levels, since equity in the form of stock is a readily available commodity within these organizations.
Determining pay strategies can be a very difficult and tedious task; therefore, CRI recommends companies consider the following approaches:
? understand your employees’ perceptions about the total compensation package your company provides;
? measure the distinct value of the reward to employee commitment and the organization; and
? communicate to your employees about the business and the financial impacts of their rewards.
It is also important to remember that the total compensation package is not just about pay, it is also about the work culture, hours, benefits, career development, and promotional increases and how they balance with the employee’s life outside the organization.
Compensation Resources, Inc. (CRI) provides compensation and human
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