Market Areas > Human Resources > Reversing Salary Freezes

Reversing Salary and Benefit Cuts: Managing and Communicating Compensation Changes

Course Description:

According to Towers Watson, U.S. companies are planning to issue larger pay raises to workers next year. And the number of companies freezing salaries is declining. In fact, the percentage is expected to drop from 32 percent in 2009 to 5 percent in 2011.

Watson Wyatt also reported, an increasing number of employers plan to undo cutbacks in pay, end salary freezes, and reinstate 401(k) matches within the coming year.

May sound like good news… but as some cuts are rolled back, many face smaller raises, lower bonuses and higher health care costs. 

Managing and communicating any change in compensation is tricky for most organizations. In fact, the manner in which you handle and discuss these changes, especially reversals, is crucial for optimizing employee morale, productivity, and retention.

Find out how to effectively manage and communicate these compensation changes with this audio conference CD.  In just 75 minutes, our expert faculty will show you how to:

• Make reversals work for your company in terms of retention,
• Use rollbacks to reward and reassure top-performing employees, and
• Best communicate compensation and benefits changes.

During this information-packed program, you’ll also learn:

• How to keep an eye on your company’s total compensation philosophy and decide what will drive it now and when the economy rebounds
• Best practices for engaging employees during the ramp-up
• What companies are doing with variable performance based compensation and how it will look during economic recovery
• What organization will be doing differently in 2010 and why

Featured Faculty:

J. MARK DAVIS, Managing Principal, Valitus Group, Inc.,

Mark Davis is the Founder and Managing Principal of Valitus Group, Inc., a management consulting firm that helps clients improve sales force effectiveness through solutions firmly grounded in an organization’s business objectives. He has worked with clients on issues ranging from sales force organization structure and job design, to sales compensation plan design and implementation. Mark is the co-author of Sales Compensation Math (WorldatWork, 2008) and a contributing author of The Sales Compensation Handbook − Second Edition (AMACOM, 1998). He is a WorldatWork faculty member, teaching Sales Compensation for Complex Selling Models and Competitive Market Pay: Pricing Sales Positions. He frequently speaks on the topic of sales compensation and is regularly quoted in leading publications, including Business Week, USA TODAY, Selling Power, Sales & Marketing Management, Workspan, and HR Magazine. In addition, he publishes the monthly e-newsletter, Sales Effectiveness Insights.

Mark serves clients in a variety of industries, including technology, telecommunications, medical devices, entertainment, media, financial services, consumer products, publishing, business services, hospitality, retail, wholesale distribution, and transportation. His clients have included, among others, Activant Solutions, Alliance Imaging, Apria Healthcare, Aspect Software, Atmel, Autodesk, Baxter, Beckman Coulter, Blue Coat Systems, Blue Cross Blue Shield of Arizona, Chartered Semiconductor, CU Direct, DIRECTV, EDS, Epitaph Records, Gateway, Harcourt Assessment, Hewlett-Packard, Hitachi, IBM, Invitrogen, Los Angeles Times, Marfred Industries, MGM, Murad, Nortel, Oakwood Worldwide, OrthoLogic, Peak Performance, PolyPAK America, Quantum, Raychem, R.R. Donnelley, Starwood Hotels, Sybron Dental Specialties, Thomson Learning, Trojan Battery, Two Jinn, US Labs, Walt Disney Internet Group, Warner Home Video, WesCorp, Who’s Calling, and Yellow Roadway.

Pat Lynch, President, Business Alignment Strategies, Inc.

Pat Lynch, Ph.D., SPHR is President of Business Alignment Strategies, Inc., a management consulting firm in Long Beach, CA. Her compensation-related work with clients includes designing and implementing compensation plans, aligning compensation plans with organizational goals, designing variable pay plans, and communicating changes in total rewards plans. A former university professor, Pat earned a Ph.D. in personnel and employment relations (HR, labor relations, organizational behavior), with a minor in employment law, following a career as a senior financial analyst for FedEx Corporation. She has authored and co-authored articles in academic and business publications as well as contributed chapters to two books. She publishes a monthly e-newsletter Alignment Solutions. Pat has been quoted in local and national media, including the Wall Street Journal. She served on the HRCI Western Item Writing Panel for six years, and currently serves on the HRCI Forms Review Panel. Pat is a graduate of Alan Weiss’s prestigious Million Dollar Consulting® College and the Million Dollar Consulting® Graduate School. She was inducted into the Million Dollar Consultant® Hall of Fame in 2009. She belongs to a number of professional organizations, including the Society for Advancement of Consulting, the American Psychological Association, WorldatWork, and the Society for Human Resource Management.

MONEY-BACK GUARANTEE:

We're so confident you'll get what you want out of this program that we'll refund every penny if you're not completely satisfied. No questions asked! It's 100% risk-free!

Pricing:

Your CD recording includes the complete audio conference presentation, audience Q&A and presentation materials.

APPROVED FOR RECERTIFICATION CREDIT:

HRCI - Receive 1.25 recertification credit hours toward PHR and SPHR recertification through the Human Resource Certification Institute (HRCI). For more information about certification or recertification, please visit the HRCI homepage at www.hrci.org. "The use of this seal is not an endorsement by the HR Certification Institute of the quality of the program. It means that this program has met the HR Certification Institute’s criteria to be pre-approved for recertification credit."

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