Mercer will kick off the segment with a quick update on current and future trends regarding the link between pay and performance, as well as other approaches to workforce segmentation. We will then discuss the various challenges that are facing organizations that lack compensation management technology, specifically the heavy focus on the transactional activities for compensation processes. However, there is an ever increasing demand for compensation teams to be more proactive and consultative to their constituents, and a need to enhance the HR profile. What is the trend to alleviate those burdens to allow more focus on strategic related activities, how are organizations making the transition? The move to automate compensation processes by implementing a compensation management technology is becoming ever more important and critical to compensation teams, whether the organization is domestic or global. We will discuss what this type of technology can help companies to achieve, as well as demo the Mercer ePRISM system to allow participants to see the power of such a technology.
The second half of the presentation will focus on the challenges of making better decisions when awarding compensation, the obstacles and examples of how organizations have overcome them. All companies achieve the goal of making compensation changes, but how many of them get the most out of every dollar, yen and euro? Too many companies talk pay for performance but fall back into the peanut butter principle, where increase are spread evenly with little or no differentiation. Or, even worse, budgets are overspent and guidelines are ignored due to lack of understanding or control. Enabling greater control and effectiveness should be the goal of every organization, but the question is how do companies successfully change their processes and culture? In this session techniques and technology will be reviewed to show how companies that range from regional to global solve these problems.
Our Distinguished Speakers:
Patrick is a Principal in Mercer’s Talent, Rewards and Communications business out of the Detroit office.
Teri is a Partner with Mercer’s Talent, Rewards and Communication (TR&C) group. She is responsible for software product strategy, design and delivery of the group’s broad array of tools for human resources professionals. Based in Louisville, Kentucky, Teri has over 17 years of experience in technology, including developing product strategy and vision, promoting products, managing product lifecycles, and leading the implementation and support function for Mercer’s client-deliverable software tools. Her expertise is in the area of integrating technology with human capital – particularly compensation – data to improve the effectiveness of clients’ salary administration programs. In 2011, Teri authored a detailed chapter in the Compensation Guide, edited by William Caldwell and published by Thomson Reuters, on the topic of managing compensation using technology.
Robert is a 20 year veteran of the enterprise software space, and has been focusing on Talent Management systems for the past 10 years. As the Director of Talent Management Marketing at ADP, Robert focuses on guiding product direction and creating compelling messaging to assist the market in understanding the breadth and depth of ADP Talent offerings. Robert has led a number of research projects in the areas of the improvements driven by compensation technology and the maturity of talent management processes at global organizations. Prior to this role, he has held management positions at Workscape, Applix, Eprise Inc., Interleaf and Allaire Corporation. Robert has been published in Employee Relations Today, Workspan, Talent Management Magazine and the Compensation Handbook, 5th Edition (McGraw Hill).
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