CLASSIFICATION AND COMPENSATION Project Introduction Conversation Cafés June 18 2015 Wright State University Agenda Introductions About Sibson Consulting Project Overview Project Scope and Deliverables ID: 620079
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STAFF CLASSIFICATION AND COMPENSATION
Project Introduction: Conversation CafésJune 18, 2015
Wright State
UniversitySlide2
Agenda
IntroductionsAbout Sibson ConsultingProject OverviewProject Scope and DeliverablesProject Phases and Timeline
Total
RewardsSM ModelDiscussionNext StepsSlide3
IntroductionsSibson Consulting Team
Sibson Consulting Team Member
Myrna Hellerman
Senior Vice President
Client Relationship Manager
Angelita
Becom
Vice President
Co-Client Relationship Manager and Project Manager
Elyse Lyons
Senior Consultant
Subject
Matter Expert, Compensation
Chris Goldsmith
Vice President and Senior Consultant
Subject Matter Expert,
Total
Rewards
Demi Farina
Associate Consultant
Chief AnalystSlide4
National human resources consulting firmIn business for over 50 yearsPrivately held and independent
Most senior employees own the firm and lead client engagements Dedicated practice with extensive experience in Higher Education About Sibson Consulting
SIBSON CONSULTING’S SERVICE AREAS
Optimize the return on investment in health and welfare benefits
Create and implement designs that balance cost effectiveness and health promotion
Conduct actuarial analysis and pricing
Optimize the return on investment in retirement benefits
Manage financial risk
Comply with complex regulatory and accounting requirements
Improve administrative effectiveness
Create compensation structures with market and internal equity
Optimize
the return on investment in rewards
Improve compensation administrationMeasure the effective-ness of performance and rewards
Design effective organizations and jobsBuild talent capability through development and successionPredict and fill future talent needsDevelop strategies to attract, retain and engage talent
Health
Retirement
Performance and Rewards
Organization and Talent
Create clear communications using multiple vehiclesCreate processes and tools to define, measure, and sustain behavior changeEducate and engage employees in program and process changes
CommunicationsSlide5
Clearly articulated compensation philosophy for unclassified and classified staffPolicies and procedures for unclassified and classified staff
Benefits assessmentCompensation structure for unclassified staff Project Scope and DeliverablesSlide6
Project Phases and Proposed Timeline
2015
1
Project Kickoff and Compensation Philosophy Development
May – September
2
Job Description Updates
September – December
3
Assessment of Current Practice (Compensation and Benefits)
October – December
4
Job Evaluation/Classification Tool
October – December
5a
Market Pricing
January
2016
5b
Market Pricing
continued
January – March
6
Pay Structure
March – May7Career PathsMarch – May 8Administration PoliciesFinalization of Compensation Philosophy and ImplementationJune – August
The above represents a relatively aggressive timing, it will be adjusted as needed to best meet the needs of the University.Slide7
The Total Rewards
Model identifies:
Main elements which attract/retain employees
How compensation is tied to other elements
The relative value of
non-cash elements will influence strategy
Wright State’s Total Compensation Philosophy will focus on the interplay among the total reward elements as a magnet to attract and retain Wright State employees with a particular focus on compensation and benefits
Total Rewards Model
Compensation
Base Salary
Incentives
Cash Recognition
Premium Pay
Pay Process
Benefits
Health
Retirement
Recognition
Perquisites
Income Security
Time Off
Work Arrangements
Affiliation
Values
Market Position
Organization Support
Work Environment
Community Citizenship
Relationships
Work Content
Variety
Challenge
Structure
Autonomy
Feedback
Impact
Career
Advancement
Title
Personal Growth
Training
Employment Security
Sibson’s Total
Rewards
SM
ModelSlide8
We would like to gain your perspectives on the following:What do you think attracts and retains staff to Wright State?
How well do you think the compensation and benefits program is currently working?What improvements could be made to the current compensation and benefits program?What else should Sibson know about Wright State’s culture or history to ensure a successful outcome for this engagement?
Group DiscussionSlide9
On-Site Next Steps:Conduct leadership interviewsHold Conversation CafésContinue gathering and reviewing data request items
Begin work on job documentation toolNext Steps