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Please join us for a very special March program!
The Twin Cities Compensation Network is partnering with Hewitt Associates to present a full morning program on:
Paying for Performance in the New Economic Reality: A Briefing on Exploring Approaches for Today and Beyond
Session I: Rethinking Pay for Performance
Unprecedented is the best way to describe compensation spending in 2009 and projected spending in 2010 when it comes to the shrinkage in salary budgets. Given this new economic reality, Lori Wisper from Hewitt Associates will discuss the challenges we face in trying to pay for performance using the traditional approach of salary increases as the primary pay for performance vehicle.
This session will explore:
- The root causes of why many organizations are self-described failures at living up to their pay for performance philosophies and how to change that;
- How “merit pay” and traditional methods of paying for performance through base salary increase can be improved; and
- New and different ideas to effectively pay for performance in the new economic reality.
There will be an opportunity for networking and discussion between Session I and Session II.
Session II: Variable Compensation – Getting It Right
Given the challenges of continuing to use salary increases as the primary way to pay for performance outlined in Session I, Lori will be joined by colleague Rob Bentley to provide perspective on a shift in the compensation landscape – with variable pay becoming more of the primary means to pay for performance. With increased application comes greater exposure and scrutiny that brings to light weaknesses and concerns in how broad-based variable pay plans and sales incentive plans have been designed and executed. This intensified focus on plan effectiveness makes it more critical than ever to get variable compensation right.
This session is designed to:
- Describe the current pay for performance environment and the increasing role of variable pay;
- Explore the shortcomings in current approaches to variable compensation;
- Introduce a new approach to assess the effectiveness of variable compensation plan designs; and
- Network and share experiences in designing and implementing variable compensation and sales incentive plans.
Date: Tuesday, March 9, 2010
Schedule:
7:30 to 8:00am Registration, Networking and Breakfast
8:00 to 9:00am Session I
9:00 to 9:30am Discussion Groups and Break
9:30 to 11:00am Session II
Lori Wisper’s Biography
Lori is a senior consultant in Hewitt’s Talent and Organization Consulting Practice, located in Lincolnshire, Illinois. She has over 20 years of experience both in consulting and corporate HR, primarily focused on Compensation. She has consulted with clients on broad based compensation issues including global compensation strategy and design, total compensation strategy, incentive plan and base salary design, sales effectiveness and sales compensation, performance management and compensation processes and administration. She has authored studies on Broad Based Severance Plans and Economic Trends in Compensation and been quoted in the Wall Street Journal, Crain’s Chicago Business, and other publications and has appeared on the television show “First Business”.
Rob Bentley’s Biography
Rob is a Manager and senior consultant in Hewitt Associates' Talent and Organization Consulting practice, located in Lincolnshire, Illinois. As a leader in Hewitt’s Sales Force Effectiveness group, Rob has extensive experience (over 13 years in consulting) developing solutions to improve the effectiveness of clients’ sales human resources, with over 200 companies/projects across all industries. He also is experienced in broader areas of sales effectiveness. Rob is the author of Sales Force Stock Option Study and Sales Force Long-Term Incentive Study. He also is frequently quoted (Sales & Marketing Management, Selling Power, etc.) and asked to speak (Synygy, IOMA, IEHRA, Callidus) in the area of sales compensation and other incentive design.
Location: Marriott West Minneapolis
9960 Wayzata Boulevard
St. Louis Park, MN 55426
Cost: This special program is offered free to TCCN members and non-members, but pre-registration is required as seating is limited.
Please note that if you receive an invitation to this event from Hewitt Associates as well, you should register with either Hewitt or TCCN, but not both.
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