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CCA Monthly Event: Determining the Financial Effectiveness and Efficiency of Reward Programs

Wed Apr 9, 2014 8:30 AM

CCA Montly Event


Determining the Financial Effectiveness and Efficiency of Reward Programs

Webinar access available. See Registration and Price for details.


 

Attendance is FREE for current CCA Members; registration is still required.

Program Details

Senior executives have come to appreciate that human capital should be managed both strategically and efficiently. This realization is underscored by the fact that human capital (i.e., labor costs) is typically one of the largest financial expenditures organizations make annually. Individual pay levels for jobs are often “benchmarked” by organizations to establish their competitiveness in the labor market to enhance their ability to attract and retain employees.

However, these benchmark comparisons do not help management determine how effective or how efficient their total reward expenditures are relative to other organizations. Specifically, traditional benchmarking does not provide insight into the effectiveness or efficiency of reward programs or the return-on-invest (ROI) afforded by these programs because they typically do not include:

  • The value of employee benefits and perquisites
  • The number of employees required to produce their product or services.
These limitations in traditional benchmarking practices makes it difficult to determine the question that is at the top of the CEO’s mind: Are my labor costs properly aligned with my business to achieve the best return of our human capital investment (ROI)? Current research of WorldatWork and CCA members by Hay Group and Loyola University will explore how organizations calculate, report and manage their human capital ROI, and what role reward professionals play in this process.


Schedule-at-a-Glance

8:30-9 a.m. - Registration, Networking & Continental Breakfast

Beverage Service will be available throughout the meeting.

9-10:30 a.m. - Presentations, Discussion & Q&A


Presenters

The presenters for this event are Tom McMullen, Hay Group; and Dow Scott, Loyola University.


Dow Scott, Ph.D, is a Professor of Human Resources and Employment Relations at Loyola University Chicago. Dr. Scott’s applied research is frequently featured at Chicago Compensation Association Breakfast Briefings, WorldatWork Annual Conferences and in the WorldatWork Journal. He helps management establish design base pay and variable pay programs, implement shared reward programs that effectively engage employees, assess the value of reward and other HR programs, and develop compensation and HR programs to retain employees. Dr. Scott has over 100 publications which include his book Incentive Pay: Creating a Competitive Advantage. He is member of CCA’s Board.

Tom McMullen is Vice President and North American Reward Leader based in Chicago. He is accountable for guiding Hay Group’s reward innovation, thought leadership, and capability development initiatives. His client consulting work focuses primarily on total reward program design, including reward strategy development, incentive plan design, linking reward and performance management systems, job evaluation and organization structure analysis. Tom holds a B.S. degree in Mathematics and a Masters degree in Business Administration from the University of Louisville.


Registration and Price

Webinar participation available. See below for details.

Select the registration link at the bottom of this page for online registration. If you cannot attend in person, limited (20 registrants) webinar attendance through Microsoft LiveMeeting registration is available for this event. Please note that webinar access instructions will be provided 2-3 days in advance of the event. *Non-member registration to attend the meeting live includes CCA Regular Membership for one year and free admittance to future CCA Monthly Events. Monthly event price is:

  • FREE for current CCA members! Simply login with your username and password to register.
  • $95 for Non-Members*
  • $25 for Non-Member Students
  • $50 for Non-Members - Webinar (Microsoft LiveMeeting) Only Registration
  • $15 for Non-Member Students - Webinar (Microsoft LiveMeeting) Only Registration

Recertification Approval

W@W Recertification Logo"Determining the Financial Effectiveness and Efficiency of Reward Programs" qualifies for recertification credit for the Certified Compensation Professional (CCP®), Certified Benefits Professional® (CBP), Global Remuneration Professional (GRP®), Work-Life Certified Professional (WLCP®), Certified Executive Compensation Professional (CECP™) and  Certified Sales Compensation Professional (CSCP™) designations granted by WorldatWork Society of Certified Professionals.  For more information on recertification, visit the WorldatWork Society recertification webpage at www.worldatworksociety.org/recertification.



Location: Drinker Biddle & Reath, 191 N. Wacker Dr., Suite 3700, Chicago, IL 60606  Get directions

For more information:

Contact: CCA Staff
Phone: 630.941.3230
Email:  info@chicagocompensation.org

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