最新-全面薪酬管理(PPT-32)-PPT精品课件.ppt

1、Elliot R.Susseles,Senior Vice PresidentThe Segal CompanySeptember 17,2019Copyright 2019 by The Segal Group,Inc.,the parent of The Segal Company.All rights reserved.“Quantifying Total Compensation”segalco1Why is Total Compensation Important?Lack of understanding of total compensation costs(among empl

2、oyers and employees)Need to communicate and educate employees on all the compensation that they receive(not just salary)2Policy Questions Is your total compensation structure:Competitive with the market?Aligned with your strategic plan?Aligned with your employees values?3 Defining Total Compensation

3、 Employees Perceptions and Values Quantifying Total Compensation Case StudyState of ArizonaDiscussion Outline46000集营销管理视频免费给你培训集营销管理视频免费给你培训或或xdgd 一个营销管理视频网站，里面的视频资料全都可以免费观看和下载的，列举一部分：完善培训体系提高企业核心竞争力 企业新晋员工职业化训练教程 飞人乔丹教你如何利用团队精神成为NO.1 调整员工心态改善工作态度 名家论坛：战略管理 企业选人方法与心理测量技术 零缺陷现代质量经营新思维 业务员教程训练更多免费营销管理

4、视频在：或xdgd5Defining Total CompensationIMPORTANT QUESTIONS1)What is the true cost of your total compensation?2)What impact does each element have on satisfaction,retention,and recruitment?3)What are the strengths and weaknesses of your total compensation structure?EmployeeValuePropositionCompensationA

5、ffiliationWorkContentCareerBenefitsOrganization commitmentOrganization supportWork environmentOrganization citizenshipTitleBase salaryIncentivesCash recognitionPremium payPay processBenefitsNon-cash recognitionPerquisitesAdvancementPersonal growthTrainingEmployment securityVarietyChallengeAutonomyMe

6、aningfulnessFeedback6Financial Elements of Total Compensation Base pay Overtime costs Pay differentials Paid time off Health and Rx benefits Dental and vision benefits Life and disability insurance Retirement benefits(including Social Security and retiree health)Other benefit costsTotal compensation

7、 calculations assess all the financial costs of providing compensation and benefits to the workforce.Direct FinancialIndirect Financial7Financial Elements of Total Compensation Base pay Overtime Pay differentials Paid time off Health and Rx insurance Dental and Vision coverage Life and Disability in

8、surance Retirement benefits Other benefitsDirect FinancialIndirect Financial8 Defining Total Compensation Employees Perceptions and Values Quantifying Total Compensation Case StudyState of ArizonaDiscussion Outline9Employees Perceptions and ValuesDoes your total compensation structure support?Employ

9、ee Satisfaction Loyalty and Commitment Successful RecruitmentWhich elements of total compensation are most important to your employees?Priorities may change with age and family status Every employer has a unique workforceThe market may not reflect what your employees need and care about.10Employees

10、Perceptions and ValuesEmployees with a working spouse may view health insurance as less valuable than pay increases or other benefitsEmployees without children may see little value in child-related benefits(dependent coverage,529 plans,orthodontia plan)Employees in single-income households may view

11、job security as more important than pay or benefitsEmployees age 45 and above are usually more focused on retirement benefits compared to younger employees11Employees Perceptions and ValuesFor example,one employee survey conducted in a County Government in Colorado revealed that 42%of employees have

12、 access to health insurance through their spouse 50%have children living at home(14%with kids under age 6)49%are in single-income households(22%are single parents)49%are age 45 or olderEmployees at different life stages will value each component of total compensation differently.12The Market May Not

13、 Reflect What Your Employees ValueYour current total compensation structureThe“market average”total compensation structureWhat Your Employees Value13 Defining Total Compensation Employees Perceptions and Values Quantifying Total Compensation Case StudyState of ArizonaDiscussion Outline14Information

14、NeededDirect FinancialBase pay rates for representative benchmark jobs Estimated overtime costs(mandatory and discretionary)Additions to pay(differentials,bonuses,awards,etc.)Number of paid days off(holidays,sick leave,vacation)DirectFinancial15Information NeededDirect Financial continuedSelect benc

15、hmark jobs that represent the entire workforce Departments Occupational groups Hierarchy/grade levels Determine a consistent basis for comparing pay Pay range minimum,midpoint,or maximum Current actual average salaries Common definition of the workweekEstimate annual overtime payments(mandatory and

16、discretionary)Calculate annual payments for other direct compensation Allowances/differentials Certification pay or education incentives Performance awards and bonuses Temporary market adjustments16Information NeededDirect Financial continuedFor example:Benchmark Jobs Average Current Base Salary Ann

17、ual Average OT Average Bonus Total Accountant II$43,000$3,000$46,000 Admin Asst I$22,000$6,000$28,000 Zookeeper Manager$55,000$55,000 Average$40,000$2,000$1,000$43,000 17Information NeededIndirect FinancialEmployer contribution rates to health,Rx,dental,etc.Enrollment data by plan and coverage(HMO/P

18、PO,single/family)Rates for employer-paid life and disability insuranceRetirement plan and retiree health contribution ratesSocial security and other mandated contributionsOther benefits paid by employerIndirectFinancial18Methods of Collecting Market DataPublished Data SourcesAdvantages Can be less c

19、ostly Can be less time consumingDisadvantages May be out-of-date Job matches are less certain May not contain data for desired employers,markets,jobs,locationsCustomized SurveysAdvantages Can obtain desired data specific to certain employers,jobs,etc.Data is current Can obtain data on pay policies,s

20、tructures,and other information beyond job pay ratesDisadvantages Can be costly and time consuming No guarantee that employers will respond to survey Private sector data hard to obtain19 Defining Total Compensation Employees Perceptions and Values Quantifying Total Compensation Case StudyState of Ar

21、izonaDiscussion Outline20Case Study:State of Arizona GovernmentLegislative requirement to conduct market study based on total compensation,including:Salaries Paid time off Health benefit costs Dental benefit costs Life&Disability insurance Retirement benefitsComparative markets defined as:Other stat

22、e governments in the region Local governments within the State(cities and counties)Large private sector organizations within the State21Case Study:State of Arizona GovernmentData Sources Used:Market Sector Direct Compensation Data Sources Indirect Compensation Data Sources State Governments Publishe

23、d survey data (states within the region)Custom survey(states within the region)Local Governments Published survey data(governments within the State)Custom survey(governments within the State)Private Sector Published survey data(with at least 1,000 employees)Segal Company client database Published su

24、rvey data 22Case Study:State of Arizona GovernmentDirect compensation measurements Actual average base salaries 51 benchmark job titles Value of paid time off (accrued days x the daily pay rate)Indirect compensation measurements Blended rate for health and dental benefits(based on enrollment)Life&di

25、sability insurance cost(based on premium rate and salary)Retirement contribution rates and social security costs23Case Study:State of Arizona GovernmentCOST MODELElem ents of Total C om pensation O ther State G ovts Local G ovts Private Sector O verall A verage State of A Z D irect C om pensation$Pa

26、y for Tim e W orked$Value of Paid Tim e O ff$Subtotal Indirect C om pensation M edical/D ental C osts$Life&Disability$R etirem ent$Subtotal Total C om p C osts$24Case Study:State of Arizona GovernmentSTEP 1SALARIESS elected B enchm arks O ther S tate G ovts Local G ovts P rivate S ector O verall A v

27、erage S tate of A Z B uyer$45,113$42,762$43,943$43,939$28,077 IT S pecialist$52,372$53,468$54,345$53,395$40,169 .P ark R anger$34,515$33,203 N M$33,859$29,805 Transportation E ngineer$63,084$66,320$62,865$64,090$67,052 A verage$41,785$42,240$43,448$41,622$33,799 S tate of A Z as a%81%80%78%81%25Case

28、 Study:State of Arizona GovernmentSTEP 2PAID TIME OFFType of P aid Tim e O ff O ther S tate G ovts Local G ovts P rivate S ector O verall A verage S tate of A Z V acation/A nnual 1 15 17 18 17 18 S ick Leave 12 12 8 11 12 H olidays and P ersonal 11 11 12 11 10 Total 38 40 38 39 40 V alue of P aid Ti

29、m e O ff 2$6,157$6,516$6,300$6,190$5,200 1Assumes an employee with 7 years of service.2Based on average salary(see Step 1).26Case Study:State of Arizona GovernmentCOST MODEL WITH DIRECT COMPENSATION COSTSE lem ents of Total C om pensation O ther S tate G ovts Local G ovts P rivate S ector O verall A

30、 verage S tate of A Z D irect C om pensation P ay for Tim e W orked$35,628$35,724$37,148$35,432$28,599 V alue of P aid Tim e O ff$6,157$6,516$6,300$6,190$5,200 S ubtotal$41,785$42,240$43,448$41,622$33,799 Indirect C om pensation M edical/D ental C osts$Life&D isability$R etirem ent$S ubtotal Total$2

31、7Case Study:State of Arizona GovernmentSTEP 3MEDICAL AND DENTAL COSTSType of P lan O ther S tate G ovts Local G ovts P rivate S ector O verall A verage S tate of A Z H M O P lans S ingle$3,180$2,904$2,532$2,872$3,276 Fam ily$6,168$7,392$6,288$6,616$7,452 P P O P lans S ingle$3,240$3,072$2,928$3,080$

32、4,272 Fam ily$6,180$7,860$7,788$7,276$9,912 B lended C ost 1$5,161$5,817$5,046$5,341$6,160 1Blended cost based on State of AZ enrollment distribution among medical and dental plans.Cost for Life and Disability Insurance were calculated similarly.28Case Study:State of Arizona GovernmentCOST MODEL WIT

33、H DIRECT COMPENSATION AND INSURANCE COSTSElem ents of Total C om pensation O ther State G ovts Local G ovts Private Sector O verall A verage State of A Z D irect C om pensation Pay for Tim e W orked$35,628$35,724$37,148$35,432$28,599 Value of Paid Tim e O ff$6,157$6,516$6,300$6,190$5,200 Subtotal$41

34、,785$42,240$43,448$41,622$33,799 Indirect C om pensation M edical/D ental C osts$5,161$5,817$5,046$5,341$6,160 Life&D isability$130$105$126$120$135 R etirem ent$Subtotal Total$29Case Study:State of Arizona GovernmentDefined benefit plansDeferred compensation/defined contributionSocial Security and M

35、edicareRetiree health and other post-employment benefitsSTEP 4RETIREMENT COSTSEmployer Cost as%of Salary Other State Govts Local Govts Private Sector Overall Average State of AZ Defined Benefit 12%7%5%8%4%Deferred Comp 1%1.5%1%0%Soc Sec/Medicare 3.83%7.65%7.65%6%7.65%Retiree Health 1%1%0%1%1%Total 1

36、8%17%13%16%13%30Case Study:State of Arizona GovernmentCOST MODEL WITH DIRECT COMPENSATION AND INSURANCE COSTSElem ents of Total C om pensation O ther State G ovts Local G ovts Private Sector O verall A verage State of A Z D irect C om pensation Pay for Tim e W orked$35,628$35,724$37,148$35,432$28,59

37、9 Value of Paid Tim e O ff$6,157$6,516$6,300$6,190$5,200 Subtotal$41,785$42,240$43,448$41,622$33,799 Indirect C om pensation M edical/D ental C osts$5,161$5,817$5,046$5,341$6,160 Life&D isability$130$105$126$120$135 R etirem ent$6,883$6,826$5,496$6,402$3,971 Subtotal$12,174$12,748$10,668$11,863$10,2

38、66 Total$53,959$54,988$54,116$53,485$44,065 31Case Study:State of Arizona Government$0$10,000$20,000$30,000$40,000$50,000$60,000Other StateGovtsLocal GovtsPrivateSectorState of AZRetirementInsuranceValue of Paid Time OffPay for Time Worked$53,959$54,988$54,116$44,065SUMMARY OF TOTAL COMPENSATION COS

39、TSThe State would need to increase its total compensation by at least 22%to equal the market.32Concluding RemarksTotal compensation calculations are a“snapshot”in time There are non-quantifiable aspects of compensation that employees value highly Training and development Career opportunities and job

40、 security Culture and environment Management and organization reputationThe mix of pay and benefits may not reflect what employees value(regardless of costs)Employees at different life stages may value each element of total compensation differently33Quantifying Total Compensation For further information,contact:Elliot Susseles202/833-6436esusselessegalcoQuestions?Doc#618040