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The Worldatwork handbook of compensation, benefits and total rewards: a comprehensive guide for HR professionals

Corporate author: WorldatWork Publisher: Wiley, 2007.Language: EnglishDescription: 842 p. : Graphs ; 26 cm.ISBN: 0470085800Type of document: BookBibliography/Index: Includes bibliographical references and index and glossary
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Book Europe Campus
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Print HD6958 .I6 W67 2007
(Browse shelf)
001213101
Available 001213101
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Includes bibliographical references and index and glossary

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The WorldatWork Handbook of Compensation, Benefits and Total Rewards A Comprehensive Guide for HR Professionals Contents Introduction: Redefining Employee Rewards Anne C. Ruddy, CCP, CPCU, President, WorldatWork About the Author 1. Total Rewards: Everything That Employees Value in the Employment Relationship · · · Broadening the Definition of Total Rewards Evolution of the WorldatWork Total Rewards Model Exploring the Key Areas ­ Compensation ­ Benefits ­ Work-life ­ Performance and Recognition ­ Development and Career Opportunities xx xxii 1 2 5 6 12 12 13 13 13 14 15 15 16 16 16 17 18 18 19 20 24 25 26 26 27 28 28 28 29 30 31 32 32 32 33 33 2. Why the Total Rewards Approach Works · The Top Five Advantages of a Total Rewards Approach ­ 1. Increased Flexibility ­ 2. Improved Recruitment and Retention ­ 3. Reduced Labor Costs/Cost of Turnover ­ 4. Heightened Visibility in a Tight Labor Market ­ 5. Enhanced Profitability 3. Developing a Total Rewards Strategy · · · · The Total Rewards Blueprint Five Common Ways a Total Rewards Strategy Can Go Astray Crystallizing the Spirit of Your Total Rewards Plan Issues That a Total Rewards Strategy Should Address ­ 1. Clean Compelling Strategies Help People Make Good Decisions Faster ­ 2. Clear, Compelling Strategies Help Identify Potential Friction Points ­ 3. Clear, Compelling Strategies Help Provide Supporting Architecture · The Bottom Line 4. Designing a Total Rewards Program · Step 1: Analyze and Assess ­ Why Conduct an Assessment? ­ How to Conduct an Assessment ­ What to Consider in an Assessment · Step 2: Design ­ Define the Corporate Mission and Vision ­ Define the Business Strategy ­ Define the HR Philosophy and Strategy ­ Define the Total Rewards Philosophy Statement ­ Define Your Total Rewards Strategy Iv Contents · Step 3: Develop ­ Program Purpose/Objectives ­ Eligibility ­ Baseline for Measurement ­ Funding ­ The Concept of Present Value ­ Selection of Rewards Elements and Structure ­ Creating the Rewards Mix ­ Global Considerations ­ Course of Action/Timeline · Step 4: Implement ­ Obtain Senior Management Approval ­ Form an Implementation Team · Step 5: Communicate ­ Building a Trusting Relationship ­ Know the Facts ­ Crystal Clear Communication ­ Honesty: The Best Policy ­ Audience ­ Management ­ Front-Line Supervisors ­ Employees ­ External Audiences ­ Key Messages ­ Media ­ Budget ­ Timeline ­ Feedback ­ How to Communicate Bad News · Step 6: Evaluate and Revise ­ The Review Process ­ Measurements ­ Quantitative Measurements ­ Qualitative Measurements ­ Evaluative Outcomes 34 35 35 36 36 37 37 37 37 38 38 38 39 40 41 41 42 42 42 43 43 43 43 43 44 45 45 45 45 46 46 47 47 50 50 5. Communicating Total Rewards · · · · · · · A Communications Approach with Oomph The Power of Communication Top Management Buy-In The Bottom Line Communication Fundamentals Models of Communication The Communication Process ­ Step 1: Analyze the Situation ­ Step 2: Define the Objectives ­ Step 3: Conduct Audience Research 53 54 54 55 56 56 57 58 58 58 59 Contents v ­ Step 4: Determine Key Messages ­ Step 5: Select Communication Channels ­ Step 6: Develop the Communication Campaign ­ Step 7: Implement the Campaign ­ Step 8: Evaluate the Campaign Communicating the Program's Richness ­ Compensation ­ Benefits ­ Work-Life ­ Performance and Recognition ­ Development and Career Opportunities Special Situations ­ Communicating with Various Levels of Employees ­ Mergers and Acquisitions ­ Communicating in a Union Environment ­ Off-Shift, Off-Site, and Remote Location Employees ­ Global Communications Media Considerations ­ Branding ­ Employer Branding A Case Study: Southern Company Total Rewards Branding Media Choices ­ Written Communication ­ Technology-Based Communication ­ Content ­ Resources and Priorities ­ User Feedback ­ Adding Information ­ "Three Clicks" Rule ­ Graphics ­ Verbal Communication ­ Audiovisual Communication Implementation Planning a Campaign ­ Project Management ­ Project Planning Managing a Campaign ­ Preintroduce the Communication Campaign ­ Communication during Program Rollout ­ Gathering and Responding to Employee Feedback ­ Evaluation ­ Working with an Internal Communication Department ­ Working with External Specialists Measuring Return on Investment ­ Define Measurements ­ Track Statistics ­ Investigate Cost Savings Critical Outcomes 60 61 62 63 63 64 65 66 66 69 69 69 69 69 70 70 71 71 71 71 71 72 73 74 75 78 78 79 79 79 79 79 80 81 81 81 82 82 82 83 83 84 84 85 85 85 85 85 86 · · · · · · · · · · · vi Contents 6. Compensation Fundamentals · · · · · · The Foundation: A Compensation Philosophy Characteristics of Compensation Programs Elements of Compensation The Basics: Base Pay Job Analysis Job Evaluation ­ Market-Driven Systems ­ Job-Worth Systems ­ Differences between Market-Driven and Job-Worth Systems ­ The Future Is Now Market Analysis Salary Ranges Competencies Incentive Pay Design Elements Reasons for Failure Management of Pay for Performance ­ Designing a Merit Increase Matrix ­ Overseeing Salary Management Effective Compensation Management 87 87 90 91 92 92 94 94 94 95 96 97 98 101 102 102 104 105 105 107 107 · · · · · · · · 7. Regulatory Environment: The FLSA and Other Laws That Affect Compensation Practices · Fair Labor Standards Act of 1938 ­ What Is the FLSA? ­ Who Does the FLSA Affect? ­ What Is Covered? ­ What Is Not Covered? ­ Classifications ­ Determination Tests for Classifying Exempt Employees ­ Rates of Pay ­ Overtime ­ Commissions in Overtime Calculations ­ Overtime Pay and Special Cases ­ Common Problems in Computing Overtime ­ Exclusions from Overtime Payment ­ The FLSA/FMLA Interplay ­ The FLSA and FMLA Regulatory Background ­ Special Calculations ­ Court Rulings ­ Safe Harbor ­ FLSA Violations and Penalties ­ Violation-Related Definitions ­ Effect of Improper Deductions from Salary ­ What Prompts an Audit? ­ Common FLSA Violations · Sherman Antitrust Act of 1890 ­ Enforcing Antitrust · Davis-Bacon Act of 1931 109 109 112 113 113 117 118 119 120 123 125 126 126 127 128 128 129 130 130 131 131 132 132 133 135 137 137 Contents vii · · · · National Labor Relations Act Walsh-Healey Act Service Contract Act Anti-Discrimination Laws ­ Equal Pay Act of 1963 ­ Title VII of the Civil Rights Act of 1964 ­ Age Discrimination in Employment Act of 1967 ­ Executive Order 11246 ­ Vocational Rehabilitation Act of 1973 ­ Vietnam Era Veterans Readjustment Act of 1974 ­ American with Disabilities Act of 1990 137 137 138 138 138 139 140 140 141 141 141 143 144 144 145 145 145 146 146 147 148 149 149 150 151 151 151 152 153 153 154 154 156 157 158 158 158 158 159 159 160 161 161 163 164 164 165 165 8. Market Pricing · · · · · · · · · · Where Do You Begin? Job Analysis Job Documentation and Job Descriptions Job Evaluation Benchmark Jobs Collecting the Right Data Decision Factors in Collecting Market Data Know the Market: Half the Battle Gathering Valid Data Data Sources ­ Purchase Published Surveys ­ Conduct Your Own Survey through a Third Party ­ Use Free Sources Capturing Competitive Market Data for High-Demand Jobs Crunching Numbers Options for Measuring Central Tendency Percentiles Aging Data to a Common Point in Time Weighting Market Data across Survey Sources Developing Market Index of Competitiveness Market Blips--A Word of Caution Approaches to Program Costs ­ All-at-Once Approach ­ Phase-In Approach ­ Wait-and-See Approach How to Keep Employees in the Loop ­ Who Should Communicate the Message? ­ What Information Should Be Communicated? Opening the Pay Dialogue · · · · · · · · · · · 9. Salary Surveys: A Snapshot · · · The Big Picture Definition and Purposes Benchmark Surveys ­ Which Jobs to Survey ­ Survey Job Descriptions ­ Which Companies to Survey viii Contents · · · · · · · ­ Data to Be Gathered ­ More Than Just Salaries ­ Review the Survey Database ­ When to Conduct an Ad Hoc or Special Survey Job Matching Job Title and Characteristics Survey Frequency Stretching the Salary Survey Budget Behind the Scenes ­ Preparation ­ Gather Data ­ Creating the Master File ­ Initial Reports ­ Final Results The Compensation Practitioner's Role ­ Extracting Data ­ Synchronizing Surveys with Economic Data ­ Communications Salary Survey Guidelines ­ Best Practices in Survey Selection ­ Characteristics of Good Salary Surveys 166 166 167 168 168 170 172 173 173 174 174 174 175 175 175 176 176 177 177 178 178 180 182 184 185 185 186 187 187 189 190 199 202 202 203 203 203 204 205 205 208 213 223 223 224 226 10. Job Analysis, Documentation, and Evaluation · Job Documentation · What Is a Job? · Job Analysis: A Step-by-Step Process ­ Step 1: Obtain Management Approval ­ Step 2: Gain Employee Acceptance ­ Step 3: Decide Who Will Conduct the Analysis ­ Step 4: Think in Terms of Work Flow ­ Step 5: Consult Secondary Sources First ­ Step 6: Decide Method and Collect Data ­ Step 7: Document the Analysis ­ Step 8: Obtain Necessary Approvals ­ Step 9: Test for Legal Compliance ­ Step 10: Conduct a Reality Test ­ Step 11: Formulate Specific Recommendations ­ Step 12: Keep Up-to-Date · Job and Work Analysis: Weighing Costs and Benefits · Job Evaluation · Internal Job Evaluation--Nonquantitative Methods · Internal Job Evaluation--Quantitative Methods · Internal Job Evaluation--Point Factor 11. Base Pay Structures · · · Pay Structures General and Specific Factors Affecting Pay Structures Anatomy of a Pay Structure Contents ix · Pay Ranges and Range Spreads ­ Some Practical Considerations · Midpoints · Range Penetration · Midpoint Progression ­ Three Approaches to Developing Midpoints · Pay Grades ­ Segmentation of Pay Grades ­ Pay-Grade Overlap ­ Multiple Pay Structures · Developing a Pay Structure ­ Internal Equity ­ External Competitiveness ­ Defining Competition · Key Steps in Designing an Effective Pay Structure ­ Step 1: Review Overall Point Differentials ­ Step 2: Rank Order Jobs by Total Evaluation Points ­ Step 3: Develop Job Groupings ­ Step 4: Develop Preliminary Point Bands ­ Step 5: Check Intrafamily and Supervisory Relationships ­ Step 6: Incorporate Market Data ­ Step 7: Review Market Inconsistencies ­ Step 8: Smooth Out Grade Averages ­ Step 9: Review Differences between Midpoints and Market Averages ­ Step 10: Resolve Inconsistencies between Internal and External Equity · Pitfalls and Precautions · Broadbanding · Starting Rates of Pay · Increases to Base Rates of Pay · Merit Pay Considerations · Performance Appraisal Considerations · Maintaining and Auditing the Pay Program · Keys to Successful Pay Program Maintenance · Ongoing Administrative Activities · Pay Program Audits ­ Five Steps to Prepare for and Conduct Pay Program Audits 12. Sales Compensation Fundamentals · Working with the Sales Organization · Six Areas of Sales Compensation Plan Involvement ­ 1. Problem Resolution ­ 2. Design and Implementation Process ­ 3. Sales Compensation Guiding Principles ­ 4. Competitive Pay Assessments ­ 5. Industry Trends and Practices ­ 6. Plan Effectiveness Assessment · Learning a New Language · Compensation Tied to Total Rewards ­ Direct and Indirect Financials (Total Pay) 226 227 229 230 231 231 232 232 233 233 233 233 236 237 237 238 239 240 240 242 242 244 245 246 246 247 248 249 249 252 252 253 253 254 254 254 257 257 260 261 262 263 264 264 265 265 266 266 x Contents ­ Affiliation ­ Career ­ Work Content Variable Pay Plan Categories Sales Compensation Philosophy Guiding Principles Eligibility for Sales Compensation ­ Target Earnings ­ Salary/Incentive Ratio and Target Upside ­ Salary/Incentive Ratio (Mix) ­ Target Upside (Leverage) ­ Plan Measures and Performance Standards Timing Considerations Alternative Mechanics ­ Plan Types ­ Modifiers Understanding How Sales Compensation Fits 267 268 268 268 269 270 270 271 272 273 276 277 281 282 282 284 286 287 288 289 291 292 293 293 293 294 294 295 295 296 296 297 297 297 299 299 300 311 312 313 315 316 316 317 317 318 · · · · · · · 13. Executive Compensation: An Introduction · · · · · Owner-Manager Conflict: Agency Theory Other Theories That Explain and Influence Executive Compensation External Influences on the Executive Compensation Package Sources of Data on Executive Compensation Components of Executive Compensation ­ Salary ­ Bonus ­ Stock Options ­ Stock Grants ­ Other Stock-Based Forms of Compensation ­ Pensions ­ Benefits and Perquisites ­ Severance Payments ­ Change-in-Control Clauses Making the Offer Attractive Providing the Proper Incentives Designing the Contract to Retain the Executive Restrictions Minimizing Costs to the Corporation · · · · · 14. Linking Pay to Performance · · · · · · · Determining What to Reward Documenting Performance Standards Establishing a Merit Budget Determining Budget Size Determining Budget Allocation Setting Merit Pay Policy Policy Decisions ­ Size: Absolute vs. Relative Contents xi · · · · · · · · · · · · -- Timing: Anniversary vs. Common Review -- Delivery: Base vs. Lump Sum Policy Implementation -- Performance -- Performance and Position in Range -- Performance and Position in Range Using Variable Timing Managing a Merit Pay Plan Training Perception of Fairness How Computer Technology Can Assist Administration Evaluating a Merit Pay Plan Merit Pay Advantages and Disadvantages Linking Results and Competencies to Business Strategy Determining the Performance Management Cycle -- Phase I: Planning Performance for the Upcoming Period -- Phase II: Coaching Performance and Giving Feedback throughout the Period -- Phase III: Rating Performance for the Just-Completed Period Performance Rating Approaches -- Using Summary Ratings -- Employee Responsibility Multirater Assessment Linking Performance Management and Pay Delivery 318 319 320 320 322 323 324 325 325 326 326 327 328 330 330 331 331 332 333 333 334 335 338 338 339 340 341 341 341 342 342 342 342 342 343 343 344 344 345 348 349 349 351 352 352 354 354 354 15. Cash Bonus Plans and Recognition Programs · · · · · · What Is a Sign-on Bonus? Size of Sign-on Bonus Claw Back Clause Aligning the Sign-on Bonus with Total Rewards Executive Sign-on Bonus -- Golden Hellos Potential Pitfalls -- Causes Resentment among Existing Employees -- Relocation Expenses -- Lack of ROI Data -- Taking a Risk Communicating the Sign-on Bonus What Is a Referral Bonus? Eligibility Timing of Cash Award Distribution Promoting an Employee Referral Program What Is a Spot Bonus? Size of Spot Bonus Spot Recognition Program Guidelines How to Effectively Use Spot Recognition Potential Pitfalls Conducting the Recognition Event Documenting Recognition Communicating the Spot Program -- Who Does the Recognizing? · · · · · · · · · · · · · xii Contents · · · · · · · Legal and Tax Requirements ­ Determining Tax Liability ­ Legal Compliance What Is a Retention Bonus? Building a Business Case ­ Instrumental in Meeting Organizational Goals ­ Combating Turnover Retention Bonus QandA ­ ERISA Implications Potential Pitfalls Communicating the Retention Plan Cash Bonuses in the Total Rewards Mix 355 355 355 356 357 360 360 361 363 363 364 364 366 366 367 368 368 369 369 370 370 370 370 371 371 371 372 374 374 375 375 376 376 376 377 377 378 378 379 379 380 380 380 382 382 383 384 386 386 16. Equity-Based Rewards · · · · · · · Business Structures Compensation Plans Using Equity Benefits Plans Using Equity Equity Terminology Evolution of Equity-Based Rewards Evolution of Stock Options Evolution of Benefits Plans Using Equity ­ ESPPs ­ ESOPs Why Equity Is Used to Reward Employees Legal, Tax, and Accounting Issues Impact of Legislation on Equity-Based Rewards Programs ­ Internal Revenue Code Forms of Taxation--Employee Forms of Taxation--Employer Accounting Basics--Financial Statements ­ Income Statement Accounting for Equity-Based Rewards ­ APB 25 ­ FAS 123(R) ­ Equity Accounting Continuum ­ Impact of Mandatory Expensing ­ Shareholder Issues Overview of Stock Options ­ Key Dates ­ Stock Option Characteristics ­ Advantages of Stock Options ­ Disadvantages of Stock Options Types of Stock Options ­ Incentive Stock Option (ISO) ­ Nonqualified Stock Option (NQSO) Types of Stock Awards and Alternatives ­ Performance Share Plan (PSP) ­ Restricted Stock Award (RSA) ­ Restricted Stock Unit (RSU) ­ Performance Accelerated Restricted Stock Award Plan (PARSAP) · · · · · · · · · · Contents xill -- Stock Appreciation Right (SAR) -- Phantom Stock -- Performance Unit Plan (PUP) · The Use of Equity in Benefits Plans · Employee Stock Purchase Plan (ESPP) -- Statutory Requirements -- ESPP Pro and Con -- ESPP Tax Implications for the Employee -- ESPP Tax Implication for the Employer · Defined Contributions Plans -- Employee Stock Ownership Plan (ESOP) -- ESOP vs. Stock Options -- Money Purchase Pension Plans -- 401(k) Plans -- 403(b) Plans 387 388 389 391 391 391 392 392 393 393 393 394 394 395 396 17. Employee Benefits Basics · Historical Perspective of Benefits · Elements of Benefits -- Income Protection Programs -- Pay for Time Not Worked Programs · Benefits Plan Objectives -- Employer Objectives -- Employee Objectives · Government Regulation of Benefits Plans -- Equal Employment Opportunity Commission (EEOC) -- Department of Labor (DOL) -- Securities and Exchange Commission (SEC) -- Pension Benefit Guaranty Corporation (PBGC) · Statutory Benefits -- Social Security -- Workers' Compensation -- Unemployment -- Nonoccupational Disability · Health and Welfare Plans -- Health and Welfare: A Brief History -- Health and Welfare Plan Elements · Health Care -- Health Maintenance Organization (HMO) -- Preferred Provider Organization (PPO) -- Point of Service (POS) -- Point of Service (POS) Key Characteristics -- Indemnity Plans -- Prescription Drugs -- Behavioral Health -- Dental Plans -- Vision -- Long-Term Care 397 397 399 401 401 401 402 402 403 406 406 406 406 407 407 410 410 411 411 411 412 412 412 412 413 413 414 415 415 415 416 416 xiv Contents · · · · · · · · Disability Income ­ Sick Leave ­ Short-Term Disability (STD) ­ Long-Term Disability (LTD) Survivor Benefits ­ Term Life Insurance ­ Accidental Death and Dismemberment (ADandD) ­ Supplemental Life Insurance ­ Dependent Life Insurance Flexible Benefits Retirement Plans ­ Defined Benefit (DB) Plans ­ Defined Contribution (DC) Plans Pay for Time Not Worked Benefits ­ Vacation ­ Sick Leave ­ Legal Holidays ­ Bereavement Leave ­ Military Leaves ­ Jury Duty ­ Personal Holidays ­ PTO (Personal Time Off) Banks Other Benefits The Importance of Effective Communication ­ Legal Requirements ­ Cobraize Employees ­ Creating and Building Awareness of Benefits ­ Enhancing Confidence and Trust ­ Involve Employees in Benefit Changes Projected Benefits Trends 416 416 416 416 417 417 417 417 417 418 418 418 420 422 422 422 422 423 423 423 423 423 423 424 425 425 426 426 426 427 428 428 429 430 432 433 434 436 436 437 437 439 439 440 440 441 18. Benefits Compliance: An Overview for the HR Professional · The Employee Retirement Income Security Act of 1974 (ERISA) ­ The Nature of the Pension Promise: Defined Benefit vs. Defined Contribution ­ The Scope of ERISA ­ Regulatory Exemptions ­ Reporting and Disclosure ­ The "Written Plan" and Claims Procedure Requirements ­ The Summary Plan Description ­ Plan Assets and the ERISA Trust Requirement ­ Minimum Participation Standards ­ Minimum Vesting Standards ­ Benefits Accrual Requirements ­ Form of Payment of Benefits Requirements ­ Minimum Funding Standards ­ Fiduciary Duties ­ COBRA Group Health Plan Continuation Coverage Requirements Contents xv · · ­ Pension Plan Termination Insurance ­ Multiple Employer Welfare Arrangements The Internal Revenue Code ­ Tax Advantages of Qualified Retirement Plans ­ Pension, Profit Sharing, and Stock Bonus Plans ­ Impact of EGTRRA on Money Purchase Pension Plans ­ The Income Taxation of Fringe Benefit Plans The Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) ­ Increases in Annual Employee Deferral Limits ­ Increases in the Overall Code §415 Contribution Limitation ­ Deferred Compensation Plans Under Code §457 ­ Rollovers ­ The Roth 401(k) Plan Option ­ Deduction Limits ­ Notice Requirement for Pension Plan Benefit Accruals Reduction ­ Top-Heavy Rules ­ Multiple-Use Test Repealed ­ Same Desk Rule Eliminated ­ Safe Harbor Hardship Withdrawal Rules Modified 442 442 444 444 445 446 447 451 452 452 453 454 454 455 455 456 457 457 457 19. Worker Privacy, Unpaid Leave, and Other Benefit-Related Laws That Protect the Individual · The Health Insurance Portability and Accountability Act of 1996 (HIPAA) ­ Title I: Group Health Plan Portability ­ Title II, Subpart F: Administrative Simplification · The Newborns' and Mothers' Health Protection Act · The Mental Health Parity Act of 1996 · The Women's Health and Cancer Rights Act of 1998 · Family and Medical Leave Act of 1993 (FMLA) ­ Employer Coverage, Employee Eligibility and Leave Entitlement ­ Intermittent Leave ­ Substitution of Paid Leave ­ Health Care Providers ­ Maintenance of Health Benefits ­ Job Restoration ­ Employee Notice and Certification ­ Employer Notice and Certification · Nondiscrimination Laws ­ Title VII of the Civil Rights Act of 1964 ­ Age Discrimination in Employment Act of 1967 (ADEA) ­ Americans with Disabilities Act of 1990 (ADA) · Uniformed Services Employment and Re-employment Rights Act of 1994 (USERRA) ­ Profit-Sharing Contributions Required ­ 401(k) Contributions ­ Re-employment Rights ­ Benefits Entitlement ­ Military COBRA Rights Required 458 458 458 462 465 466 467 468 468 470 470 471 471 472 472 473 474 474 475 476 478 479 479 479 480 480 xvi Contents · Worker Adjustment and Retraining Notification Act of 1988 (WARNA) ­ Plant Closing ­ Mass Layoff ­ Impact on Employee Benefits · In Closing 20. Planning Benefits Strategically · · · Internal and External Influences on Strategy The Strategic Planning Process Approaches to Strategic Benefits Planning ­ Top-Down Approach ­ Backing-in Approach Who's Managing the Strategic Benefits Planning Process? Design and Implementation ­ Step 1: Developing a General Philosophy ­ Step 2: Understanding the Environment ­ Step 3: Creating the Design Blueprint ­ Justifying Costs ­ Step 4: Testing and Finalizing the Design ­ Financial Management ­ Administration and Systems Support ­ Step 5: Implementing the Rollout Outcomes of Strategic Benefits Planning Evaluation ­ The Role of Evaluation Beyond the Strategic Plan 480 480 481 481 481 483 483 486 487 488 489 490 491 491 491 492 493 493 494 495 495 496 497 498 499 500 500 501 501 501 502 502 502 504 505 506 507 508 508 508 509 509 509 510 510 510 · · · · · 21. Implementing flexible Benefits · Types of Flexible Benefits Plans ­ Pretax Premium Plans ­ Flexible Spending Accounts ­ Simple Choice Plans ­ Full Flexible Benefits Plans · Flexible Benefits Plan Design ­ Eligibility ­ Enrollment Choices ­ Family and Employment Status Changes ­ Special Classes of Employees · Pricing Flexible Benefits Options ­ Market-Based Pricing and Credits ­ Incentive-Based Pricing and Credits ­ Net Cost Pricing without Credits · Tax Issues and Employer Objectives ­ Pretax Benefits ­ Pretax or After-Tax Benefits ­ After-Tax Benefits ­ "Freezing" Pay for Pricing Purposes ­ Adjusting Prices from Insured Rates Contents xvii · · · · · · Communication Approaches ­ Communication Timing Annual Enrollment Process ­ Phase I: Data Setup ­ Phase II: Individualized Worksheets ­ Phase III: Distribution of Information ­ Phase IV Confirmation ­ Phase V Integration of Information ­ Phase VI: Review Ongoing Enrollment Annual Re-enrollment Spending Account Administration Legal Issues ­ Summary Plan Description ­ Form 5500 ­ Nondiscrimination Rules 511 512 512 513 513 513 513 513 513 514 514 515 515 515 515 515 518 519 520 520 522 522 524 524 525 525 526 527 528 528 528 529 530 530 531 532 533 533 534 535 536 536 536 538 538 539 541 541 22. Work-Life Effectiveness · Changing Demographics · The Evolution of Work-Life Initiatives · Work-Life Effectiveness: A Definition · Why Companies Address Work-Life Issues ­ To Attract and Retain Talent ­ To Raise Morale and Job Satisfaction ­ To Increase Productivity ­ To Increase Commitment and Engagement ­ To Reduce Health Care Costs ­ To Combat Burnout ­ To Attract Investors ­ To Be a Good Corporate Citizen · Ways to Address Work-Life Issues ­ Programs ­ Policies and Benefits ­ Practices · Supportive Work Environment · Company Culture · Work-Life Strategy ­ Developing a Work-Life Vision ­ Marketing Work-Life Initiatives · How to Begin · Source of Commitment · Anticipating Problems · Developing and Appropriate Marketing Strategy · Putting it All Together: Checklist · Calculating the Return on Investment ­ Cost and Value · The Future of Work-Life Effectiveness 23. Caring for Dependents · Child-Care Issues xviii Contents · · · · · · · · · · · · · · · · · · · · Direct Child-Care Services Assessing Child-Care Needs On-Site and Near-Site Child-Care Centers Consortium Child-Care Centers Back-Up (Emergency) Child Care Care for Sick Children School-Age Child Care 24-Hour (Odd-Hour) Care Other Child-Care Options ­ Providing Information and Support ­ Policies and Customized Work Arrangements ­ Providing Financial Assistance Elder-Care Issues Description of Elder Care Cost of Elder Care and the Needs of Working Caregivers Employers' Responses to Employees' Elder-Care Needs Information and Support ­ Elder-Case Consultation and Referral ­ Elder-Care Workshops/Support Groups ­ Elder-Care Resource Expo ­ Work-Life Resource Area ­ End-of-Lift Supports Policies Financial Assistance/Financial Planning ­ Subsidized Emergency or Respite In-Home Elder-Care Services Direct Elder-Care Services ­ Geriatric Care Managers ­ Supports for Community Based Services ­ Adult Care Centers ­ Intergenerational Care Programs Implementing a New Elder-Care Program Evaluating an Elder-Care Program The Future of Corporate Elder Care 543 548 549 550 551 552 553 553 554 554 554 554 555 557 557 558 559 560 561 561 561 562 562 563 563 563 563 563 564 564 564 565 565 566 567 570 572 574 575 576 577 578 585 589 821 823 827 24. Culture at Work · Defining Culture ­ Tips for Contending with Resistance ­ Beliefs and Rituals ­ Diversity ­ Formality and Innovation · Importance of Culture · Matching Culture with Strategic Goals · Impact of Culture on Total Rewards Programs Notes Total Rewards Glossary Handbook References WorldatWork Bibliography Index

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