Beyond Base Pay - Using Incentives and Equity to Drive Performance ICS400
** Nonprofit and public sector employees are eligible for a 15% discount on tuition for this course.
As the pressure to “do more with less” increases, many organizations are searching for ways to more efficiently utilize compensation budgets to achieve their strategic goals. Directly linking pay to performance is one of the key solutions currently being discussed. Understanding how to link pay to performance, creating an appropriate compensation philosophy, and knowing what types of incentive pay are most effective for which groups of employees are critical to the success of incentive and merit pay programs.
This two-day course will outline how to build the appropriate contextual framework for developing, implementing, and evaluating performance-based incentive and merit pay systems. Multiple, real-world scenarios illustrate how to achieve business objectives and strategic ambitions. Emphasis is placed on customized action plans, rather than “one size fits all” solutions.
Who Should Attend?
This course is designed for compensation practitioners, analysts, managers and experienced HR professionals and business partners who want to improve their capabilities and insight across a broad spectrum of pay-for-performance considerations.
Class size is limited to facilitate interaction with faculty, stimulate peer-professional exchange, and create a participatory learning experience.
What is the Course Curriculum?
Designed in collaboration with senior faculty at Cornell University’s ILR School, this course offers the perfect blend of academic study and practical application. The course content includes case studies to illustrate key concepts, and is underpinned by an evidence-based, social science approach.
Topics addressed in this course include:
- Supporting your business strategy with a performance-based compensation system
- Aligning organization, group and employee goals with performance measures
- Assessing different types of variable pay and equity programs
- Funding considerations and trade-offs
- Framing the efficacy and return of a performance-based pay system
This program has been submitted to the HR Certification Institute for review.
Note: The information presented in this seminar is for educational purposes and should not be interpreted as legal advice.
How will my organization and I benefit?
Participants will leave the course with an improved capacity to analyze, execute and influence practice and policy with respect to variable compensation. Organizations can benefit through improved alignment of individual and group efforts with organizational goals, and a richer understanding of variable compensation programs and the practical cost implications.
Linda Barrington, Executive Director, Institute for Compensation Studies, ILR School at Cornell University. Linda Barrington has completed research on new workforce entrants, business leaders' perceptions of their top challenges, compensation trends, the working poor, economic history and gender economics. Her work appears in the Review of Economics and Statistics, the Journal of Economic History, the Historical Statistics of the U.S., the WorldatWork Journal, and numerous reports published by The Conference Board. Her recent book, Employment and Work: Key Issues and Future Directions, is published in the SAGE Reference Series on Disability. She has received underwriting for her research from the Atlantic Philanthropies, Rockefeller Foundation, Russell Sage Foundation, Gates Foundation, and most recently the U.S. Department of Education. Linda comes to the Institute for Compensation Studies from The Conference Board, a global business membership and research organization. There, she held several positions, most recently Managing Director of Human Capital. She began her professional career on the economics faculty at Barnard College of Columbia University. She has also taught economics at Columbia's School of International and Public Affairs (SIPA), the University of Michigan, and the University of Illinois. She earned a Ph.D. in economics from the University of Illinois, and a B.S. in economics from the University of Wisconsin.
Lisa L. Hunter, Founder, Newport Consulting Group, Inc. Ms. Hunter is a seasoned consultant with more than thirty years of experience in the design and implementation of compensation programs, organizational planning and development, and human resource management. She advises clients on a broad range of issues, including total rewards strategy, executive compensation, linking compensation with business strategy, performance management, and organizational change. In addition to her work as a consultant, Ms. Hunter is the Program Director for The Conference Board's Executive Compensation Management and Compensation Councils. Prior to establishing the Newport Consulting Group, she held senior human resources management positions at Time-Warner, Simon and Schuster, and Home Box Office. Ms. Hunter serves on the ILR Dean's Advisory Council and has served both as President of the ILR Alumni Association and as a Vice Chair of the Cornell University Council. Lisa holds a degree in Industrial and Labor Relations from Cornell University.
Stephanie R. Thomas, Research Associate, Institute for Compensation Studies, ILR School at Cornell University. Stephanie Thomas is the author of Compensating Your Employees Fairly: A Guide to Internal Pay Equity, Apress/Springer Science & Business. She has been published in various outlets including the Journal of Compensation and Benefits, Best Practices in Compensation and Benefits, Mealey's Litigation Report: Employment Law, Corporate Counselor, and Bloomberg Law Report. She frequently speaks to professional organizations such as SHRM on the quantitative analysis of compensation and selection decisions. Ms. Thomas comes to the Institute for Compensation Studies from a 15 year career as an economic and statistical consultant, working with Fortune 500 companies, privately held businesses, major law firms, and federal and state government agencies such as the Department of Justice and the FBI. She has testified as an expert witness in federal and state courts throughout the United States. Prior to her consulting career, she served on the Faculty of the College of Arts and Sciences at New York University, receiving two teaching awards. Stephanie Thomas earned a B.A. in Economics, Summa Cum Laude, from Elmira College and a Ph.D. in economics from The New School for Social Research.