In a polarizing world of misalignment – from politics to relationships, and from health to business – we learn that great power and lasting impact can be achieved when people come together for a common purpose or goal. In a passionate and life-changing session on the topic of Global Wellbeing, WTW Senior Consultant and Solution Advisor, Josh Ellison, will not only unveil the latest results from their Global Wellbeing Diagnostic survey, but will also identify the potential gaps and pitfalls in current employer programs. Participants will discover the power of a program that is aligned to both business goals and employee needs, leaving everyone inspired to have a meaningful impact both personally and professionally.
Key Takeaways:
- Gain new insights into the latest Global Wellbeing Program strategies and trends
- Understand the current misalignment between employee needs/preferences and employer focus - including potential strategies and tactics to drive better financial outcomes and improved human capital performance
- Leave inspired to have a positive and lasting impact on their organizations, colleagues, families and the people around them
Compensation and Total Rewards professionals must work with stakeholders with varying degrees of compensation literacy every day. From those who see compensation as impossible to decipher to the “knows enough to be dangerous” colleague, how can you meet each person where they are at to drive results? Join this session to develop your own plan for turning your non-comp co-workers, into true allies.
Key Takeaways:
- How you as a compensation expert can explain key concepts to create a more cohesive Total Rewards experience for everyone in your organization.
- Specific language and communication strategies tailored to different levels of compensation literacy.
Sales Compensation is probably the clearest thing to “pay for performance” in Total Rewards. Sales Compensation regularly establishes pay programs that incentivize actions that are intimately aligned with organizational objectives. How much of sales compensation effectiveness is based on how the compensation team is structured? The broader and more dispersed the decision-making process is, the lesser the likelihood of unified and coherent performance management and incentive design outcomes, much less, optimal organizational results. Nearly all companies struggle with fragmented processes and incongruent execution with downstream aspects of the sales compensation process. Whether in budget setting, job architecture, target allocation, territory assignment, incentive design, performance tracking, crediting, plan documentation, calculations, and ultimately pay disbursement, it’s rare that all of those pieces are aligned. This session will cover sales compensation best practices, evaluation tools, and guidance for organizational change to deliver heightened alignment.
Key Takeaways:
- Walk away with sales compensation best practices to deliver optimal organizational outcomes
- Gain the tools to appraise and evaluate their sales compensation organization for success
- Understand the key components that impact sales incentive program effectiveness
How can you create a governance model while managing employee hybrid work? Join this interactive Roundtable Discussion to explore successful strategies for doing just that. Participants will have the ability to share how their organization is dealing with challenges and seek feedback from the facilitator and participants on how they can achieve their goals.
Key Takeaways:
• How hybrid work has evolved in the last few years.
• An understanding of the various compliance issues that can arise.
• The different challenges between domestic and international remote working.
Roundtable discussions are intimate and highly participatory. Be prepared to share and build connections with your fellow attendees.
Income inequality remains a troubling issue, despite years of progressive and proactive approaches and legislation. All too often, workers of one particular group (usually women or people of color) are systematically underpaid across an organization. The remedy for such pay gaps is often to focus on those workers who are most underpaid. In this talk we will explain why this approach falls short, and point to better ways to correct the pay structure, close pay gaps and address systematic biases.
Key Takeaways:
- A clear understanding of the differences between the unadjusted and adjusted pay gap
- How to understand the root sources of the adjusted pay gap.
- How to address systematic pay biases and close pay gaps
It is not always a "Love Story" between those who design and administer an organization's sales incentive plan. If there aren't clear guidelines, roles and responsibilities, and policies, there can "Bad Blood" between those sales compensation plan owners and sellers/sales managers.
This session will set you and your colleagues to be "Fearless" about administering the sales compensation program with the tips, tools, and templates to create a sales compensation governance guide. Because ultimately, good governance promotes confidence, which is crucial to the ability to operate effectively and accurately.
Creating a clear framework for managing difficult situations will allow your organization to operate more efficiently and treat each employee with consistency and fairness for "Eras" to come.
Key Takeaways:
• A list of critical must-haves in your governance structure.
• How to establish an effective governance model that avoids disruptions and instills trust by outlining clear recourse for unforeseen adverse circumstances.
• A sales comp administration RACI template for your organization to build upon.
This TR Talk is designed to be paired with the session "Where Should Sales Comp Live? Understanding the Relationship Between Optimal Outcomes and Organizational Structure' immediately preceding it in the schedule. We suggest planning to attend both sessions back-to-back.
How can Compensation and Total Rewards practitioners apply behavioral economic principles in compensation plan design? Through interactive polling, explore key concepts in behavioral economics such as time value of money and how human beings respond to economic incentives. This session will draw comparisons between the participants’ responses to market norms and then share implications on how these observations and economic principles affect compensation design.
Key Takeaways:
- Insights into behavioral economics concepts and principles related to compensation design.
- Practical, day-to-day uses of economic principles and how they apply to compensation program design.
Ever wonder why, despite offering fantastic benefits, employees seem to forget about them after open enrollment? Join us for an enlightening session where we’ll unravel the mystery behind sustaining engagement with your benefit plan. We’ll focus on the mindset shift, effective communication tactics, and continuous wellness programs crucial for ensuring your workforce not only remembers and appreciates their benefits, but uses them throughout the year.
Key Takeaways:
- Recognize the post-enrollment mind shift and challenges in sustaining benefit awareness.
- Improve year-round communication and maximize impact using compelling messaging and diverse channels.
- Implement ongoing health initiatives to prioritize wellness, link healthy habits with benefits, and highlight lesser known perks within your benefit plan.
Walk through building a Compensation Function from the Ground Up!
Congratulations! You’ve just landed the role as the first Compensation Director ever at an organization. As you get started you will need to evaluate the current situation and stand-up the compensation function. What tools will you use? What recommendations will you make? Who will you need to help you build the function from scratch?
In this highly interactive simulation session we will give you the particulars of your new (did we say congrats!) organization and from there you will work with a group of 8-10 other participants to answer the questions above, make recommendations, and even deal with a few curveballs along the way.
This session is perfect for novice and experienced comp experts alike who want to think through putting today's best practices and technology in place along with learning from fellow participants.