Going Ratingless, Implications for Total Rewards Professionals

Going Ratingless, Implications for Total Rewards Professionals

Date: September 28, 2016
Location: The Phoenix, 1 American Row, Hartford, CT 06103
Doors Open: 5:00 PM
Dinner: 5:30 PM – 6:15 PM
Speakers: 6:15 PM – 7:15 PM
Cost: $20 Members, $20 Guests, $35 Non-Members, $15 Students

CTRA welcomes Aetna and MassMutual to talk about whether it was better for them to keep performance ratings or go ratingless.

September’s CTRA program will feature David Barcellos Executive Director, Executive Compensation for Aetna and Katie Bowling Performance and Reward Practice Leader at MassMutual Financial Group. They will share critical lessons drawn from their experiences evaluating whether to implement significant changes to their company’s approach to Performance Management.

MassMutual will share their journey piloting a new approach without using ratings and instead focusing on the conversation, feedback, and employee development. Aetna will discuss their decision to continue with a traditional approach after research and consideration of moving away from ratings.

WorldatWork Certification

The September 28th presentation of Going Rating-less: Implications for Total Rewards Professionals will earn recertification credit for WorldatWork Society of Certified Professionals’ designations. Please use only the attached wording and seal to promote credit. Thank you for your interest in the Recertification Program and please feel free to contact Certification@worldatwork.org if you have any questions.

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Non Profit Total Reward Strategy: Earning Your Return on Investment

Non Profit Total Reward Strategy: Earning Your Return on Investment

As a result of the slow growth economy, non-profit organizations are facing decreased funding due to federal and states’ fiscal deficits as well as a significant shift with grant-makers who are increasingly funding awards on a performance/return on investment basis. In addition, the soaring costs of healthcare insurance are adding significant pressure to operating costs. Without new revenue growth, many non-profits are looking for ways to measure and increase the value/return on their social mission and investments. Consistent with these changes, some non-profits are responding by trying to increase the “return” on their services and programs in terms of program execution, utilization, and measurable results. Given this environment, non-profits are being forced to examine the viability of their highest cost centers, most particularly, employee compensation and benefits for value against performance as well as market competitiveness.

Non-profit Boards and senior management are questioning what the appropriate compensation and benefit programs should be, at what levels they should be funded, and how to drive accountability and performance in the employee workforce. While non-profit organizations have predominantly been about social service and charity with their cultures reflecting a “do-good” environment and a concern for employee welfare, present conditions have forced many to consider a culture shift toward performance and accountability as well as changes in their Total Rewards programs. This delicate balancing act between affordability and the ability to attract and retain a stable and talented workforce presents challenges in nonprofits’ capacity to assure effective organizational culture, management practices, labor market relevance, and strategic/operational priorities. To help navigate this challenge, the following insights to six key questions provide a prescription for change in Total Rewards:Read More and Join the Discussion…