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Casual Articles - It's Spring - Time For A Compensation Program Tune Up
Selling is the Transference of Passion eights applicable based on current strategic direction? If not, what modifications are required?When you boil it down, selling is about transferring the passion you have for your product or service into the heart of a prospective customer. If you are not succeeding in sales, look at your passion. Passion produces followers. Are people following your advice? If not, you may be lacking passion. Find the true purpose of what you do and what you personally bring to the table.Transferring passion is similar to a bonfire transferring heat. It`s a natural process and draws people to its warmth. Have you lost the passion you once had? When the church at Ephesus had lost their passion, Jesus said, "Repent and do the first works." If you have lost your original passion perhaps it`s time to What employee equity challenges or pressures will be placed on the compensation program in the coming year? o Have recent market adjustments and system modifications forgotten the employees? Are we able to attract employees without causing internal pay compression? What financial challenges will impede the ability of the organization to successfully fund and implement needed compensation program elements? o Can the organization sustain past financial commitments to the compensation program? If not, how will spending priorities be set? What changes need to be How to Create Trust Now that winter has passed, the annual ritual of spring cleaning is in full swing. Spring cleaning is more than cleaning the windows and clearing the cobwebs that hid in the corners during the winter. Spring is a time to take a serious look at your compensation program and begin planning for the next budget cycle. Depending on your organization's fiscal year, it may also be time to determine appropriate market adjustments and pay increases for the coming year, said Michael Maciekowich, National Director, Astron Solutions.People buy from you, offer help, and grant rewards based on trust. Here are ways to increase your success by creating trust. While we do most of these things, missing even one of them can ruin it all.Be Dependable* Deliver what you promise and promise only what you can deliver. Report delays immediately.* Be on time. Leave early for appointments. Set realistic deadlines allowing for the unexpected.* Show courtesy by returning phone calls.* Be predictable. Use self control: anger repels and scares others.Listen* Show interest and respect by paying attention to what the other person is saying.* Ask questions. Then make it easy to answer the Compensation program spring cleaning is more than looking at the market and determining adjustments. It is a time to step back and determine if the system remained in alignment with organizational and employee needs. Most organizations have long-term strategic plans with short-term objectives to determine progress. A compensation program designed at the beginning of a long-term strategic cycle also needs flexibility to address yearly short-term organizational objectives. As new objectives come to the forefront, or current ones are modified, the compensation plan must also change. This is a different way of thinking about compensation programs. There are a number of tools and processes to help with this matter. One is a survey of the compensation program's effectiveness for users, including executive management, department management, and employees. The focus of this annual survey is the following: What aspects of the current compensation program were most effective in the past year? o What aspects seem to have had a positive impact on employees in terms of retention and morale? What aspects of the current compensation program were least effective in the past year? o What issues did human resources seem to spend the most time discussing with employees and managers? What should be the focus of the compensation program in the coming year? o What are managers' and employees' expectations in terms of compensation determination? What will prevent this from happening? o To what extent do managers and employees understand current financial issues facing the organization? With this understanding, human resources must answer the following five questions: What external market challenges or pressures will be placed on the compensation system in the coming year? o Has the market shifted? Is there a new strategic need in the organization that will alter our market focus, either by type of job or market definition? Is the organization in a position to remain competitive? What internal job equity challenges or pressures will be placed on the compensation program in the coming year? o If a job evaluation system is used, are the factors and factor weights applicable based on current strategic direction? If not, what modifications are required? What employee equity challenges or pressures will be placed on the compensation program in the coming year? o Have recent market adjustments and system modifications forgotten the employees? Are we able to attract employees without causing internal pay compression? What financial challenges will impede the ability of the organization to successfully fund and implement needed compensation program elements? o Can the organization sustain past financial commitments to the compensation program? If not, how will spending priorities be set? What changes need to be m Bike Shop Sales Training d in alignment with organizational and employee needs. Most organizations have long-term strategic plans with short-term objectives to determine progress. A compensation program designed at the beginning of a long-term strategic cycle also needs flexibility to address yearly short-term organizational objectives. As new objectives come to the forefront, or current ones are modified, the compensation plan must also change.Most bike shop sales people are there because they love bicycles and this indeed helps them answer all the questions that a rider might have and yet this is not the only thing that a bicycle shop sales person needs. You see, they also need good sales training and they need to listen and help the rider or shopper understand why things cost so much, the differences between types and which bike might be best for them.Giving a cyclist too many choices could lead to a NO Sale and the rider leaves to go shopping, perhaps never to return and that means lost sales. To prevent this they will need training and good training too. Not only sales training but they need to be in training too, cyclist train This is a different way of thinking about compensation programs. There are a number of tools and processes to help with this matter. One is a survey of the compensation program's effectiveness for users, including executive management, department management, and employees. The focus of this annual survey is the following: What aspects of the current compensation program were most effective in the past year? o What aspects seem to have had a positive impact on employees in terms of retention and morale? What aspects of the current compensation program were least effective in the past year? o What issues did human resources seem to spend the most time discussing with employees and managers? What should be the focus of the compensation program in the coming year? o What are managers' and employees' expectations in terms of compensation determination? What will prevent this from happening? o To what extent do managers and employees understand current financial issues facing the organization? With this understanding, human resources must answer the following five questions: What external market challenges or pressures will be placed on the compensation system in the coming year? o Has the market shifted? Is there a new strategic need in the organization that will alter our market focus, either by type of job or market definition? Is the organization in a position to remain competitive? What internal job equity challenges or pressures will be placed on the compensation program in the coming year? o If a job evaluation system is used, are the factors and factor weights applicable based on current strategic direction? If not, what modifications are required? What employee equity challenges or pressures will be placed on the compensation program in the coming year? o Have recent market adjustments and system modifications forgotten the employees? Are we able to attract employees without causing internal pay compression? What financial challenges will impede the ability of the organization to successfully fund and implement needed compensation program elements? o Can the organization sustain past financial commitments to the compensation program? If not, how will spending priorities be set? What changes need to be Free Publicity is Yours with Newsworthy Information oyees. The focus of this annual survey is the following:Many entrepreneurs suffer from inability to grasp the importance of publicity. If you arent letting people know about your accomplishments, especially the media, youre making a big mistake. The good news is, you can change the way you approach publicity and it can actually be fun. To increase your business success, you want to be in the public eye.Publicity comes in many forms and it has been said that free publicity is the most valuable. Free publicity is valuable because it is often more convincing than advertising. People believe a news story more readily than they believe an advertisement. The perception is that you must be doing something right if your products or services are featured What aspects of the current compensation program were most effective in the past year? o What aspects seem to have had a positive impact on employees in terms of retention and morale? What aspects of the current compensation program were least effective in the past year? o What issues did human resources seem to spend the most time discussing with employees and managers? What should be the focus of the compensation program in the coming year? o What are managers' and employees' expectations in terms of compensation determination? What will prevent this from happening? o To what extent do managers and employees understand current financial issues facing the organization? With this understanding, human resources must answer the following five questions: What external market challenges or pressures will be placed on the compensation system in the coming year? o Has the market shifted? Is there a new strategic need in the organization that will alter our market focus, either by type of job or market definition? Is the organization in a position to remain competitive? What internal job equity challenges or pressures will be placed on the compensation program in the coming year? o If a job evaluation system is used, are the factors and factor weights applicable based on current strategic direction? If not, what modifications are required? What employee equity challenges or pressures will be placed on the compensation program in the coming year? o Have recent market adjustments and system modifications forgotten the employees? Are we able to attract employees without causing internal pay compression? What financial challenges will impede the ability of the organization to successfully fund and implement needed compensation program elements? o Can the organization sustain past financial commitments to the compensation program? If not, how will spending priorities be set? What changes need to be Choose a Manual Projection Screen and Save Money managers and employees understand current financial issues facing the organization?By purchasing a manual projection screen you can save a lot of money over other options that are on the market today. Of course money is not the only thing to consider when buying a projection screen, but depending on your situation it should definitely come into play. After all, who doesnt want to save a bit of money with any purchase that they make. And if you can get away with using a manual projection screen instead of a more sophisticated option why not do so?The main difference between a manual projection screen and a motorized option is that you will have to pull down the screen yourself anytime you want to use it. In addition, when you are done you will have to put the screen bac With this understanding, human resources must answer the following five questions: What external market challenges or pressures will be placed on the compensation system in the coming year? o Has the market shifted? Is there a new strategic need in the organization that will alter our market focus, either by type of job or market definition? Is the organization in a position to remain competitive? What internal job equity challenges or pressures will be placed on the compensation program in the coming year? o If a job evaluation system is used, are the factors and factor weights applicable based on current strategic direction? If not, what modifications are required? What employee equity challenges or pressures will be placed on the compensation program in the coming year? o Have recent market adjustments and system modifications forgotten the employees? Are we able to attract employees without causing internal pay compression? What financial challenges will impede the ability of the organization to successfully fund and implement needed compensation program elements? o Can the organization sustain past financial commitments to the compensation program? If not, how will spending priorities be set? What changes need to be Contract Management eights applicable based on current strategic direction? If not, what modifications are required?Contract Management encompasses all the activities that an enterprise or an individual engages in, while entering into a business transaction with one or more trading partners and fulfilling all the obligations of the terms and conditions agreed upon on the contract.Almost all the transactions that occur in the business world are governed by a contract is some shape or form. Some of the common examples of contracts we deal with in our day-to-day life are employment letters, sales invoices, purchase orders, utility contracts.Contract management is the process of managing of all aspects and phases of any and all contractual agreements including the creation of certified, professional con What employee equity challenges or pressures will be placed on the compensation program in the coming year? o Have recent market adjustments and system modifications forgotten the employees? Are we able to attract employees without causing internal pay compression? What financial challenges will impede the ability of the organization to successfully fund and implement needed compensation program elements? o Can the organization sustain past financial commitments to the compensation program? If not, how will spending priorities be set? What changes need to be made as to how employees are recognized and rewarded for their contributions to the organization? o Do the current recognition and reward mechanisms work to motivate employees to contribute to the organization's strategic direction? With these questions answered, human resource next must develop a strategic response. Take the five questions above and overlay the four question survey responses. This helps to develop a strategic response to each of the five key compensation issues. Here are basic examples of the thought process for auditing current compensation processes: External Equity Issues: Most effective. Continue current process. Internal Equity Issues: Least effective. Additional focus on internal job placement required. Employee Equity Issues: Least effective. Serious compression issues developed that need further action. Ability to pay issues: Most effective. Required funding of the program is understood and available. Reward and Recognition Issues: Most effective. High level of satisfaction with current performance assessment and rewards systems. With this information in hand, the final step is to create a focused strategic response to present to senior management. The result is a fresh look at your compensation program and a focused direction for the year ahead. Michael Maciekowich is a National Director for Astron Solutions. His areas of expertise include the development, design, and implementation of executive, physician, and employee total cash compensation and performance management systems in all industries. His primary focus is the integration of compensation and human resource strategies with organization-specific missions, visions, values, and strategic operating plans. Michael has twenty-five years of consulting and industry compensation experience. He can be reached at 800-520-3889 or michaelm@astronsolutions.com. Astron Solutions is a consulting firm dedicated to the delivery of HR consulting services and supportive technology. For more information about giving your compensation program a spring cleaning, please call Astron Solutions at 800-520-3889.
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