Trending: Pay Transparency Trying to find an appropriate balance when discussing how you determine pay and what an employee’s earning potential is, can be tough. As we continue to see concerns about wage gaps, pay inequities and miscommunications, organizations have an excellent opportunity to share more information about how compensation programs are designed and
Challenge: Our client was interested in achieving and maintaining gender pay equity among their workforce. Solution Deployed: We know that base pay often is a root cause of total compensation pay gaps, so we began by reviewing current pay practices and organizational structures. We then gathered all relevant data and were able to complete a thorough analysis that included looking beyond performance ratings: at other factors that are less prone
Sales Incentives Require Critical Update Challenge: Our client had been purchased by a venture capital firm and was facing a merger. Existing sales incentive plans needed refreshing as retention of the sales force was critical. Current incentive plans were complicated to understand and needed to be streamlined and simplified. It was also necessary to
Creation of LTI: Aerospace Company Challenge: Our client needed to redesign their current long-term incentive plans to better promote and foster alignment of long-term financial interests between management and shareholders . They wanted to sunset their existing plans and have one simplified, easy to understand plan. They wanted the new plan to incent long-term growth and teamwork, and be directly related to key business metrics. It was important to them to promote a team environment for decision making, showcase leadership in technology
Creation of Long-Term Incentive: Privately Owned Company Challenge: Our client needed to develop an affordable, long-term incentive plan that would serve as a robust retention tool. Our client engaged us to redesign their long-term incentive plan to be affordable and aligned with the growth of the business, without reducing participation or reducing incentive opportunity for participants. Solution Deployed: Our team conducted a thorough review of the existing compensation package, conducted interviews with
Attraction and Retention It is a well-known fact that content, engaged employees tend to work harder, produce better results and more importantly – stick around. So why are so many organizations reporting an increase in employee turnover and what can they do to retain top employees? People search for new jobs for a reason.
Do you know if your employee communication is effective? Conducting a communications audit can be a great way to find an answer to that vital question. The audit process is an excellent opportunity to highlight strengths, find opportunities for efficiencies, shape content strategy and uncover any possible weaknesses. Why is effective communication so important?
Trending Perks: Remote Work Environments One of the most significant perk trends we have seen over the past year, and expect to see more of in the future, is a flexible work environment. Remote work has become easier thanks to technological advances and increased mobility. This trend is prompting organizations to explore new ways
More boomers are working past retirement age. Tech-savvy millennials will make up 50% of our workforce by 2020. Gen Z’s are graduating and entering the workforce. With a mix of generations comes distinct differences in values and work styles. These differences can fuel miscommunications or cause angst, but with the right mindset, different generations
We continue to see healthcare costs rise at an incredible pace, placing an additional burden on employees. As an employer, it is important to understand this trend and how it affects your workforce and to look for ways to balance costs to remain competitive. A few of the facts: Aon's 2019 Global Medical Trend