Executive Compensation Back in the Headlines June 17, 2009
Posted by sbonadio in : Compensation Management , add a commentThe U.S. Department of the Treasury has been busy. Details of the Obama Administration’s plan for financial system regulation are now beginning to manifest themselves.
The executive compensation issue is also heating up again. Last week, Treasury issued a new interim final rule (31 CFR Part 30) focused on TARP recipients.
In case you missed, take a look at this whitepaper (registration required) which analyzes the potential impact of new compensation regulations on HR. Key message: Don’t be surprised if new reporting requirements - for TARP recipients and possibly even all public companies under the purview of the SEC - are set forth for executive compensation. Is your HR organization preparing itself for the impending change?
Getting The Most Out Of Your Performance Management Systen May 27, 2009
Posted by sbonadio in : Workforce Performance , add a commentWorkforce performance management systems enable organizations to automate and optimize their performance processes and align employee development and goals with corporate objectives. Here are five tips for getting the most out of your performance management investments:
1. Calibrate Performance Ratings Across The Organization
2. Link Performance Processes to Career Development And Learning Management
3. Enable Pay-For-Performance To Build A Merit-Based Culture
4. Drive Continuous Improvement By Leveraging Workforce Analytics
5. Configure, Don’t Customize
To learn more, feel free to download Softscape’s new field guide.
HR Beware: A New Era of Regulation & Compliance April 20, 2009
Posted by sbonadio in : Compensation Management, HCM Industry, Incentives and Rewards, Workforce Performance , add a commentYou thought only the 500+ TARP recipients would be subject to new compensation and performance standards? You may want to think again.
A sweeping new regulatory framework is emerging as a result of the global financial crisis, affecting many aspects of corporate operations, from finance and accounting, to risk management and compliance, to human resources (HR). The impending changes have the potential to make the U.S. Sarbanes-Oxley Act of 2002 look like child’s play in comparison, especially since the current financial crisis is global in nature. The main challenges facing HR leaders are in the understanding of the new regulations, how they will impact their divisions and the broader business, and ultimately, what organizational and technological changes will need to occur to become compliant.
Governments across the globe are in the midst of defining their new frameworks, which will combine elements of legislative and regulatory reform. How deep and wide these changes will go remains unclear. Yet one thing is certain: Reforms are dictating that companies implement more uniform processes and systems for compensation and performance, particularly in the areas of compliance reporting and auditing.
To learn more about the sweeping reforms coming your way, click here to download the full report.
Doubling Down On Employee Development March 18, 2009
Posted by sbonadio in : HCM Industry, Learning and Development , add a comment
Softscape’s 2009 State of Global Talent Management report reveals that the use of talent management software to automate and improve employee development will grow by 106% in 2009.
To their regret, many companies cut back on their learning and development programs during the recession of 2001. The inevitable result was a multi-year rebuilding effort just to get back to the status quo. The lesson learned: Don’t sacrifice the future for a more comfortable present.
Smart companies double-down on employee development in challenging times. The reasoning is straightforward: Actively developing employees and providing career advancement opportunities to them are top drivers of employee engagement. Ninety-seven percent (97%) of HR practitioners believe this to be so.
Research also clearly shows that companies with higher percentages of engaged employees perform better than their industry peers. To cut back on employee development and learning programs during an economic recession is short-sighted and runs contrary to the mandate that HR’s job is to help their organizations emerge as stronger entities when the economic environment inevitably improves.
The Workforce Analytics Imperative February 20, 2009
Posted by sbonadio in : Workforce Analytics , add a commentTraditional transactional reporting and spreadsheet-based tools have been available to HR for many years, but generally fall short of answering key HR questions. Often inflexible, difficult to use, and inaccessible, these tools nevertheless are what HR professionals currently rely on for critical workforce metrics (e.g., employee retention, time-to-hire). But they can hardly be classified as strategic. And given the global economic conditions, HR leaders are under increasing pressure to consistently measure and communicate the impact of their HR programs, especially to secure funding for strategic initiatives. Unfortunately, transactional reporting tools provide little help.
Strategic workforce analytics, on the other hand, provide more meaningful methods for measuring HR efficiency and effectiveness. New, integrated technologies have emerged that enable HR professionals to focus more on analysis, insight, and action rather than on data collection and manipulation. And the timing could not be better. Three-out-of-four large enterprises (5,000 employees or more) now view HR measurement to be mission critical to their efforts, according to a December 2008 survey of more than 200 HR professionals conducted by Softscape.
Download our newest whitepaper on Strategic Workforce Analytics to learn more.
