Compensation & Benefits Connect Cast Series with Robert Mosley

Tuesday, 20 August 2024

• The Golden Triangle of Reward Management (Jobs, People and Performance, and Pay Markets)
• Why are Job Analysis and Job Descriptions important?
• What is Job Analysis, and the Purpose of Job Analysis and the Different Methodologies
• Using Job Analysis to Understand Job Roles and Accountabilities
• Formats of “Job Description”, “Accountability Statement”, and “Job Profile”
• Step-By-Step Guide to Developing and Writing Job Descriptions
• Describing Accountabilities and Knowing How to Identify the Key Accountabilities
• Current Best-Practice Process for Writing Job Descriptions and Involving Your Employees
• Linking Job Analysis to Competency Libraries
• Linking Job Descriptions to Performance Management and Other Areas of HR

Wednesday, 21 August 2024

• What is Job Evaluation and Why Have Grades?
• The Golden Triangle of Reward Management (Jobs, People and Performance, and Pay Markets)
• How Grading and Salary Structures have Developed and Global Trends
• The Role of Job Evaluation and Determining Comparative Job Size and Internal Relativities
• Understanding Jobs and How to Effectively Place Jobs in the Correct Grade Hierarchy
• The Common Golden Rules of All Job Evaluation Systems
• Understanding the Step Approach to Job Size (Single-Step or Double-Step or Broad-Banded)
• Commonly Used Best-Practice Proprietary Systems of Job Evaluation
• Brief Review of the “Hay Group (Korn Ferry) Guide Chart and Profile Method of Job Evaluation”
• Other commonly Used Best-Practice Systems of Job Evaluation (eg: Mercer, Towers-Watson)
• Comparisons Across Different Job Evaluation Systems and Mapping

Thursday, 22 August 2024

• Designing and Building Grade Structures
• How Many Grades Should Your Organisation Have from Top-to-Bottom?
• Determining Grades and Overall Grading Structure to Fit Organisation Requirements
• Defining a Grade and the Different Spread of Grades (Single-Step, Double-Step, Broad-Band)
• The Pros and Cons of Broad-Banding in Different Organizational Cultures
• Benchmarking and Designing a Grade Structure Compared to Other Companies
• Latest Trends on Job Family Grade Structures and Generic Job Titles Aligned to Grades
• Managing Development of Employees and “X-1” Principle and “X+1” Principle
• Managing and Maintaining Grading Structures and Latest Trends on Agility and Agile Grades
• Managing Promotions and Upgrades Through a Grade Structure
• Coping with Employees who Reach the Maximum of their Grade Payscale

Tuesday, 27 August 2024

• The Golden Triangle of Reward Management (Jobs, People and Performance, and Pay Markets)
• Why is Compensation and Reward Management Important?
• The Key Components of Pay Market Benchmarking and Compensation Design:
  • Pay Strategy
  • Grade Structure
  • Market Data
  • Number of Months
• Understanding the Key Definitions, Statistics (Percentiles), and Modern Approaches
• Getting the Correct Pay Market Position and Understanding Sector Pay
  • Year 1: Selecting a Comparator Group
  • Years 2-5: General Market Pay Positioning
  • Developing a Pay Strategy (Flat Strategy, Ascending Strategy, Descending Strategy)
• Determining a Pay Strategy Matrix for a “Group” of Companies or Subsidiaries
• Managing the Balance between Employee Expectations and Ability-to-Pay
• Practical Exercise to Help Your Management Team to Develop a Pay Strategy

Wednesday, 28 August 2024

• Recap on the Golden Triangle of Reward Management (Jobs, People and Performance, and Pay Markets)
• Recap on the Key Components of Pay Market Benchmarking and Compensation Design
• Benchmarking on “Total Cash” or “Total Remuneration”.
• Bringing all 4-Ingredients Together to Design Total Remuneration Structures
• Practical Exercise on Building a Spreadsheet to Analyse “Total Remuneration”
• Establishing the Midpoint Salary of Pay Ranges which is Designed to Deliver the Pay Strategy
• Calculation Formulae for Determining Minimum-Midpoint-Maximum of Payscales
• The Single-Step Approach (80%-120%) and the Double-Step Approach (70%-130%) and Other Ranges

Thursday, 29 August 2024

• Defining and Using “Compa-Ratios” and Managing Pay-Ranges and Position-in-Range
• Detailed Practical Guidelines for Implementing and Understanding “Compa-Ratios”
• Managing Progression Up Through a Pay Range and Managing Internal Equity
• How to Determine the Appropriate Salary to Offer in Recruitment
• How to Develop Compensation Policies for Promotion and Progression
• Coping with Employees Who Reach the Maximum of their Payscale
• Agile Pay Ranges and Using Ranges-Within-Ranges (eg: Super-Minimum and Super-Maximum)
• Managing “Narrow-Bands” and “Broad-Bands” and “Ranges-within-Range”
• Different Advanced Options for Managing “Pay Premium” for Specialist Roles

Tuesday, 3 September 2024

• The Golden Triangle of Reward Management (Jobs, People and Performance, and Pay Markets)
• The Role of Performance Management and Performance Appraisals to Determine Employee Ratings
• Latest Trends in “Agile Performance Management” and “Next-Generation PM”
• The Three Pillars of Performance Management: OCD (Objectives, Competencies, Development)
• Objectives: Understanding KRAs and KPIs or OKRs and the New Trend of MSCs
• Competencies: Understanding Competencies and Developing a Competencies Framework
• Development: What are Development Options and Managing PDPs (Personal Development Plans)
• What is Happening to KRAs and annual KPIs, and Say Goodbye to KPIs and Say Hello to MSCs
• The Balancing Act of Objectives (KPIs or MSCs) and Competencies (Behaviours) in Overall Appraisals

Wednesday, 4 September 2024

• What does a Best Practice Performance Appraisal Form Look Like?
• Managing Performance Ratings and Performance Distribution Curves
• Current Best-Practice Approaches to Performance Appraisal Rating Scales
• Rating Scales: How Many Points (4 or 5 or 6 point systems)?
• Rating Scales: What Words?
• Weighting of “Objectives and Goals” versus “Competencies and Behaviours”
• Using Forced Distribution Curves of Appraisal Ratings
• Do We Still Have the “Bell Curve” and What Happens to Forced Distributions of Ratings?
• Understanding and Managing the “Snap-Ratio” of the Skewed Distribution Curve of Ratings
• Adjusting the Distribution Curve of Employee Ratings to Reflect Company Results
• Knowing When Managers Have Been Too-Generous or Too-Mean with their Ratings of Employees
• Practical Solutions for Managing a Forced Distribution Curve of Performance Appraisal Ratings

Thursday, 5 September 2024

• What Motivates and Retains an Employee?
• Performance Management and The Goal of Linking Pay to Performance
• Managing the Annual Merit-Pay Review Process and Linking Pay with Performance
• Conducting and Managing the Annual Pay Review Process (both Fixed-Pay and Merit-Pay)
• Linking Merit-Pay and Annual Pay Reviews to Individual Employee Performance Ratings
• Rewarding Performance within Basic Salary Increases and Merit-Pay Reviews
• Rainbow Curves to Manage Compensation and Pay-for-Performance
• Developing and Using a Merit-Matrix (both “Traditional” and “Constrained”)
• Managing an Annual Pay Review Process and Managing Progression Up Through a Pay Range
• Managing Compa-Ratios and Using Compa-Ratio Progression Guidelines
• Coping with Lump-Sum Payments instead of Pay Reviews for Employees at Maximum of Pay Range

Tuesday, 10 September 2024

• The Golden Triangle of Reward Management (Jobs, People and Performance, and Pay Markets)
• The Role of Variable Pay Schemes
• Types of Variable Pay Schemes and Current Best-Practice in Variable Pay Management
• The Difference between Bonus (past recognition) versus Incentive (future motivation)
• Importance of Understanding What Motivates an Employee?
• Importance of “Build-Up” (funding the plan) and “Pay-Out” (determining target plan payments)
• Gearing Effects and Bonus Multipliers aligned to Employee Performance
• Types of Company-Wide Bonus Schemes (such as profit-sharing bonus)
• Building a “Bonus Matrix” aligned to both Company Performance and Employee Performance

Wednesday, 11 September 2024

• What are SIPs (Sales Incentives Plans)
• The Three “Must-Do” and the Three “Must-Avoid” Golden Rules of SIPs
• Understanding the Different Types of Sales Employees (Hunters, Farmers, Gatherers, Supporters)
• Managing the Mixture of Fixed-Pay versus Variable-Pay within the Total Cash Package
• Expressing On-Target Bonuses as a Percentage of Annual Basic Salary (the “HR” approach)
• Expressing On-Target Bonuses as a Percentage of Annual Total Cash (the “Sales” approach)
• The 10-Step Plan for Designing Successful SIPs for “Hunters/Farmers/Gatherers” (Sales)
• Understanding and Managing the Key Fulcrum Points for SIPs:
  • Setting the “On-Target” or “100%” Level
  • Setting the “Threshold” or “Minimum” Level
  • Setting the “Stretch” or “Ceiling” or “Maximum” Level
• Expressing SIPs as a “Percentage Commission” Scheme
• Understanding the importance of “Annual True-Up” and True-Up Calculations

Thursday, 12 September 2024

• The Role of Recognition Programmes for Employees
• Main Types of Recognition Schemes
• Identifying the Implementation Techniques for Retention Schemes
• Understanding the Popularity of Different Retention Schemes and “What Works Best”
• The Role of Retention Plans for Employees
• What is a Retention Plan in Both a Risk and Non-Risk Context?
• Why have Retention Plans Linked to Talent Management and Key Employee Plans?
• Identifying the Most Appropriate Retention Plans
• The Three “Ps” of Retention: Potential or Pressure or Pain
• Retention Payments: How Much and Why and Who?
• Designing and Implementing a Retention Plan