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Course/Product Description
Title:

How To Develop Effective Pay For Performance Plans

SKU:WC-1021663
Date / Time: Recorded
Format: Webinar
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Description:

Motivated workers are critical to corporate success; however, neither a cookie cutter approach to motivation and engagement nor a highly individualized structure tends to be effective in the long run. As a result, organizations across the country are seeking to continuously improve employee performance, while simultaneously controlling costs.

Establishing or expanding pay for performance programs can be an effective strategy to achieve this objective. When designed well, pay for performance plans align employee behaviors and activities with specific goals. When designed poorly, such plans can cause confusion and frustration among employees and dissatisfaction among owners and management.

This webinar will cover key features to be considered as well as practices to be avoided in order to design a plan that succeeds in motivating and recognizing desired performance.

AGENDA

Why Pay for Performance?

  • Evolution of Compensation Plan Design (Tenure and Experience to Market Competitiveness to Merit and Competencies)
  • Relevance of Pay for Performance (Data Findings)
  • Common Forms of Performance-Based Pay (Salary Increases, Incentive Pay Types, etc.)
Salary Increase Practices
  • Salary Increase Approaches (Conservative to Aggressive Performance-Based Increases)
  • Performance Evaluation Tools
  • Prevalent Program Features (Timing, Eligibility, Amounts, etc.)
  • Merit Matrix Explanation and Example
Variable Pay Plans
  • Overview of Performance-Based Variable Pay Types
  • Prevalent Plan Features
  • Ongoing Assessment/ROI Tools
Tips for Effective Performance-Based Pay
  • Involvement Throughout the Organization
  • Establishing/Assessing Performance Metrics
  • Organization-Wide Communication
  • Additional Best Practice Considerations
About The Presenter

Priya J. Kapila
  • Manager in the compensation consulting division at CBIZ, Inc. Human Capital Services
  • Participated in the development of compensation plans for multiple organizations
  • During her time with CBIZ, she has gained experience in market pricing, developing and reviewing job analysis questionnaires, designing salary structures, drafting compensation plan policies and procedures, and structuring performance-based incentive programs for a variety of positions within many industries
  • Recently led the development of analyses to test for compensation discrimination within public and private organizations
  • Performed financial analysis for an investment banking firm, specializing in the area of public finance. In this role, she became experienced in the implementation of financial structures and initiatives for both nonprofit and for-profit organizations
  • Was involved in developing financial products for institutions of higher education and renewable energy companies
  • Certified Senior Professional in Human Resources (SPHR) and a Certified Compensation Professional (CCP)
  • Currently a member of WorldatWork and the president of the Compensation and Benefits Network of Greater St. Louis (CBN)
  • M.B.A. degree, University of Missouri-Columbia; B.S.B.A. degree, and B.A. degree in international studies, University of Missouri-Columbia


Cannot Attend The Live Presentation?

This presentation is also available in a recorded format, in CD version, as shown in the pricing options below.

About Webcasts / Audio Conferences / Podcasts:

Webcasts, audio conferences, and podcasts are presentations that you attend via the Internet, phone, or mobile device at a specified date and time for "live" versions, or at your convenience for "recorded" and "On-Demand" versions.

The live versions are interactive, meaning that participants can ask questions in real time, plus are a very cost-effective form of training because 1) you receive fast, convenient learning without any out-of-office time; 2) you can invite as many colleagues as you'd like to listen in on a single phone line; 3) you incur no travel expenses; and 4) you and your colleagues are back at work immediately after the session ends!

And though with recorded versions you do lose the ability to ask questions, you gain the ability to hear the presentation numerous times and to share it with others in your office.

Handout materials and the phone number for live presentations are made available to you prior to the event via email from the presenter and from the "MyAccount" link on the menu bar. Copies of the presentations are included with recorded versions.

About The Provider: Lorman Education Services has provided educational seminars and online training for professionals since 1987.

Since then, we've kept thousands of professionals in the United States and internationally current on the most pressing topics in a rapidly changing marketplace of ideas. Like you, we understand the need for concise, accurate information.

That understanding underlies each Lorman course, presenting the latest information on the laws and regulations critical to your organization's successful daily operations.

Moreover, each course receives our painstaking attention to be certain both the faculty and participants receive the individual attention necessary to achieve maximum benefit from the materials.
More Info: Contact Us For More Information
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