Free Resource: Sample Forms, Plans & Policies

I like to inform my readers of free resources I run across that I believe can be helpful to them in managing their reward programs.

One such resource is CompReport, a monthly newsletter published by Watson Wyatt Data Services.  In addition to compensation news (mostly that generated by WWDS research and surveys), the newsletter regularly features links to sample forms, plans and policies.  Recent editions, for example, have featured sample employee relocation policies, severance contracts and incentive plan documents.

I am not an advocate of simply lifting plans and policies from other settings and dropping them into yours; it is important to understand and design programs to meet the specific needs and circumstances of your organization.  Having said that, though, samples like these can provide a helpful starting place and ideas on structure and content.

Sign up for CompReport here.  Enjoy!

Just Take Your Damn Seat at the Table

That's what Dan McCarthy, of the Great Leadership blog, says.

I've posted recently about HR's quest for a seat at the table, and some of my blogging colleagues have also rightly scolded us for our collective whiny attitude when people talk about how HR stinks.

But Dan has nailed it.

Well, I’ve learned over the years that if you want a seat at the table, you need to assume it’s yours, just barge in, and take it. Grab a cookie, have a seat, pour a glass of water, and contribute to the success of the business. Executives aren’t stupid people – if you have something substantial to offer, they listen. And if you don’t – if you try to get away with shoveling fluff at them, they are quick to size you up and dismiss you. Take your cookie and go home.

If you aren't already reading and subscribing to Dan's blog (great opinions and information on leadership and leadership development), do it now. 

Compensation Force Now a Featured Blog at Workforce Management (Workforce.com)

I am excited to announce that Compensation Force is now a featured blog at Workforce Management (Workforce.com)!

With this, I am proud to join the esteemed ranks of current featured bloggers - Kris Dunn's the HR Capitalist, Jason Corsello's Human Capitalist, and Jeanne Meister's New Learning Playbook - along with the quality line-up of in-house blogs, like The Business of Management by John Hollon (Workforce Management Editor).

What does this mean for Compensation Force and its content?  No change, really.  My blog stays the same and I will continue to provide the "news, information, tips and musings on employee compensation and performance" that I always have - picking the topics and angles that interest me and that I hope will interest you.  Workforce.com will highlight Compensation Force along with the other featured bloggers on its home page and link directly to posts here.  The Workforce Management logo in my banner reinforces our connection for reader who click through from Workforce.com.  And to reciprocate, Compensation Force will feature the ads (human capital content only) you now see on the site.

If you aren't already familiar with Workforce.com and their content, take this opportunity to check it out.  The breadth, depth and quality of the content in compensation - as well as other areas of human capital management - is simply outstanding!

Special thanks to Kris, who led the way, and to the crew I have had opportunity to work with at Workforce Management.  I look forward to a long and happy partnership!

Just Six Words ...

Paul Hebert of Incentive Intelligence has tagged me to write a 6 word memoir in the latest diversion circling the blogosphere.

I'm gonna go with ...

Setting, Believing in my Own Path

 

The rules are:

• Write your own six word memoir.
• Post it on your blog, including an illustration if you’d like.
• Link to the person that tagged you in your post and to the original post if possible so that it can be tracked as it travels across the blogosphere.
• Tag at least five more blogs with links (I am picking just three).
• Leave a comment on the tagged blogs with an invitation to play!

Who I tag for the next round:

Michael Haberman of HR Observations

Kris Dunn, Executive Editor of Fistful of Talent (c'mon Kris - a challenge for one of your new contributing bloggers!)

Wally Bock of Three Star Leadership

Image: P. Winberg

New Blog "Fistful of Talent" Hits the Scene

Kris Dunn, who many of us already know as the intrepid author of the HR Capitalist, has launched a new blog!

Fistful of Talent features a collection of regular contributors, covering all things talent.  The group includes some seasoned bloggers already well-known in the space as well as some brand new voices.

As Kris puts it:

Rather than just trot out my own opinions on these topics, I've asked a talented, yet motley crue of recruiters, HR pros, consultants and corporate-types, who deal with talent issues on a daily basis, to pitch in weekly.

So drop by, check out the concept and meet the new crew. 

Congratulations, Kris!

2007 Turnover Rates by Industry

As part of the 2007 edition of its Compensation Data Survey, CompData Surveys publishes voluntary turnover rates by industry, an excerpt from which is shared below.  The average turnover rate across all industries is 12.3%, but the rates range widely from a low of 6.5% in Utilities to a high of 21.3% in the Hospitality industry.

2007 Voluntary Turnover Rates by Industry

• Hospitality: 21.3%
• Healthcare: 15.5%
• Real Estate/Construction: 15.4%
• Distribution/Warehouse: 15.3%
• Other*: 15.1%
• Services: 14.7%
• Not-For-Profit: 13.7%
• Financial Services: 13.3%
• Technology: 10.6%
• Manufacturing: 10.2%
• Utilities: 6.5%

*Other includes organizations not otherwise classified, including retail, landscaping, newspaper and other organizations involving communications/media.

Companies Spend an Average of $1,202 per Employee on Training

This is a benchmark that I have often been asked for, but didn't have until I ran into information on the 2008 Corporate Learning Factbook, an annual study of corporate training budgets, spending and trends published by Bersin & Associates.

When reviewing a total rewards program, it can be helpful to include data on employee training and development, relative to market practices.

Other findings from Bersin's research:

• The average spending per learner of $1,202 is roughly equivalent to last year.  Spending varies significantly from industry to industry; the highest spending industry is finance & insurance ($1,061 per learner) and the lowest is retail ($594 per learner).
• 21% of all training dollars - overall - are spent on leadership development and management/supervisory training, making this the largest area of investment on a cross-industry basis.  Not surprising given the increasing evidence that we are or soon will be facing a real deficit of leadership talent.
• While leadership/management training is a top priority overall, specific industries are investing heavily in other areas, including:
  • In telecommunications, 23% of training program dollars are spent on customer service training
  • Technology companies are spending 29% of training program dollars on sales training
  • Pharmaceuticals are spending 25% of training program dollars on compliance and other mandatory training
• E-learning has grown dramatically.  The use of self-study e-learning now accounts for 20% of student hours, up from 15% last year.  Related to this, this year's study has also shown a sharp increase in new web-based and collaborative learning resources, including podcasts, blogs and wikis.

Tagged!

I have been tagged by my blogging buddy, the Career Encourager.

Here are the rules:

• Link to the person who tagged you.
• Post the rules on your blog.
• Share six non-important things/habits/quirks about yourself.
• Tag at least three people at the end of your post and link to their blogs.
• Let each person know they have been tagged by leaving a comment on their blog.

So here are my six non-important things:

• I am a dessert person.  When I go out to eat, I plan the whole meal around having room for a fabulous dessert.
• I was passionate about the sport of gymnastics through high school and my early college years, and for a short time even planned to major in PhyEd in order to become a professional gymnastics coach.  To help put myself through college, I
  • Taught several gymnastics classes for our local community ed program
  • Coached my junior high gymnastics team
  • Served as announcer for high school meets
  • Served as a judge for gymnastic meets around our region
• I have read every book written by Nelson DeMille.
• I love going out to movies, but my movie experience absolutely must include a large bag of buttered popcorn (butter in the middle, please, too) and a Diet Coke.  Now that is bliss.
• My last name is always mispronounced.  It should be pronounced as if it were spelled "bars".  Not the way it looks. 
• When asked once how I can tell, in developing a new base salary program, whether a salary structure "fits" an organization, I replied "well, once you get all the jobs slotted into the salary structure, it kind of speaks to you."  My boss at the time, present for this exchange, raised an eyebrown and said, "... and how long have you been hearing these voices?"  Yes, I am a compensation geek.

For the next round, I am tagging a couple of bloggers I have just recently been introduced to or become aware of:

Incentive, Compensation and Sales Performance Management by Julien Dionne

The Happy Burro Blog by Joe Raasch

Looking forward to hearing from them!!

Our Work and the Opportunity to be a Blessing to Others

The Career Encourager has a beautiful post worth checking out with a brand new year practically upon us - Blessed to be a Blessing reminds us of how the work we each do provides us with opportunities to be a blessing to others, and tells the story of how a deli employee reinforced this lesson for her and her family.  A wonderful message and an encouraging lesson!

Compensation Force Ranked #1!

Permit me a moment of shameless self-congratulations - Compensation Force has been ranked #1 in the first installation of the HR Power Blog Rankings sponsored by the HR Capitalist.  Click over and check out the list and rankings - what a thrill to be recognized with some of my favorite HR blogs!