Archive for January 11, 2012
Mid-Market Corporate Benefits Summit 2012
Jan 11th
Executive Benefit Plans: Who’s in Control?
| Steve Spitzer of New York Life Retirement Plan Services, a solution provider company at the marcus evans Mid-Market Corporate Benefits Summit 2012, discusses key considerations for effective executive benefit plans. Interview with: Steve Spitzer, Vice President, Executive Benefits, New York Life Retirement Plan Services |
FOR IMMEDIATE RELEASE
As employers cope with limited resources and global competition, they must attract and retain executives who drive positive results, says Steve Spitzer, Vice President, Executive Benefits, New York Life Retirement Plan Services.
From a solution provider company at the upcoming marcus evans Mid-Market Corporate Benefits Summit 2012, in Las Vegas, Nevada, January 23–25, Spitzer discusses how executive benefit plans can help employers and executives take control of their financial futures.
How is the concept of control central to executive benefit plans?
Control is a central theme to most employee benefits. With consumer-directed healthcare plans, for example, employees can better control their healthcare spending. Executive benefits are no different. The participants have distinct financial needs, and they want to control how they use their compensation.
Executives face challenges in reaching their financial goals. They are limited in what they can contribute to qualified plans, may only have access to ineffective benefit plans and are coping with the “lost decade” in the financial markets.
Plan sponsors are also under pressure to keep costs and liabilities manageable and predictable, while trying to maximize participant outcomes.
How can employers help ensure their plan is attractive?
These plans should not just be afterthoughts to companies’ qualified plans. These participants have unique needs, and employers need to ask strategic questions: Who is eligible? What type of investments should be available? Should subaccounts be available? What is available for international executives? Would a rabbi trust help make the plan more appealing?
The plan can help attract and retain executives who can drive bottom line results. So it is important to align the plan with the company’s mission and total reward philosophy.
How can these plans impact the bottom line?
One key decision is to determine how the plan is funded. There are several options. Employers can maintain the plan on an unfunded basis and meet liabilities from working capital or through borrowing. Others may choose taxable investments like mutual funds. Still, others in the industry may employ total return swaps, maintaining plan assets as working capital while providing a direct hedge for the variable performance of participants’ investments. Finally, some may choose trust- or company-owned life insurance – “TOLI” or “COLI” – allowing sponsors to build assets through tax-advantaged cash value life insurance policies.
It all comes back to control. By taking time to make informed decisions, employers can help ensure the plan’s costs remain manageable and predictable.
All investing involves risk. It is possible that investment objectives may not be met.
Contact: Stacey Melvin, Journalist, marcus evans, Summits Division
Tel: + 357 22 849 400
Email: press@marcusevanscy.com
About the Mid-Market Corporate Benefits Summit 2012
This unique forum will take place at the Red Rock Casino, Resort & Spa, Las Vegas, Nevada, January 23-25, 2012. Offering much more than any conference, exhibition or trade show, this exclusive meeting will bring together esteemed industry thought leaders and solution providers to a highly focused and interactive networking event. The Summit includes presentations on the continuing uncertainty over the healthcare reform, developing and implementing new benefit plan designs and better engaging employees.
For more information please send an email to info@marcusevanscy.com or visit the event website
marcus evans group – hr sector portal
The HR Network – marcus evans Summits group delivers peer-to-peer information on strategic matters, professional trends and breakthrough innovations.
Please note that the Summit is a closed business event and the number of participants strictly limited.
About New York Life Retirement Plan Services
New York Life Retirement Plan Services offers bundled retirement plan solutions, executive benefit solutions, and defined contribution investment only products throughout the United States. New York Life Retirement Plan Services, a division of New York Life Investments*, administers over $28.7 billion in bundled retirement plans as of September 30, 2011. New York Life Retirement Plan Services is widely recognized for its leadership within the retirement plan industry.
*New York Life Investments is a service mark used by New York Life Investment Management Holdings LLC and its subsidiary, New York Life Investment Management LLC. Securities are distributed by NYLIFE Distributors LLC, 169 Lackawanna Ave, Parsippany, NJ 07054.
The information contained herein is general in nature and is provided solely for educational and informational purposes. Neither New York Life nor its affiliates provide legal, accounting or tax advice. You should obtain advice specific to your circumstances from your own legal, accounting and tax advisors, including specific advice as to the applicability of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) to a Nonqualified Plan.
About marcus evans Summits
marcus evans Summits are high level business forums for the world’s leading decision-makers to meet, learn and discuss strategies and solutions. Held at exclusive locations around the world, these events provide attendees with a unique opportunity to individually tailor their schedules of keynote presentations, think tanks, seminars and one-on-one business meetings. For more information, please visit www.marcusevans.com
All rights reserved. The above content may be republished or reproduced – kindly inform us by sending an email to press@marcusevanscy.com
HR Summit 2012
Jan 11th
Performance-Based Plans:
Making a Connection between Reward and Result
 | Philippa Youngman from Pivot Software, a sponsor company at the marcus evans HR Summit 2012, on why HR managers should make use of a true performance-based plan. Interview with: Philippa Youngman, Director, Pivot Software |
FOR IMMEDIATE RELEASE
“In a performance-based culture, where the organisation is achieving its goals and employees are rewarded for their contribution, employees are less likely to seek employment elsewhere,” says Philippa Youngman, Director, Pivot Software.
From a sponsor company at the upcoming marcus evans HR Summit 2012, taking place in the Gold Coast, Queensland, Australia, 4 – 6 March, Youngman discusses why it is essential for Human Resources (HR) executives to create a transparent workplace environment through performance management.
What challenges do HR directors face when dealing with remuneration?
The volatile employment environment of the last three years has highlighted the need for a remuneration policy that can survive the good and the bad times without employees feeling that the goalposts are changing constantly. When an incentive plan that has no real connection with organisational or individual performance, such as a Christmas bonus, is suddenly stopped, employees may blame the global financial crisis. This shows employees that the remuneration policy is controlled by the external environment, therefore performance will decrease.
A true performance-based plan clearly communicates the connection between rewards and results, which engages employees in the outcome. In a performance-based culture, where the organisation is achieving its goals and employees are rewarded for their contribution, employees are less likely to seek employment elsewhere.
How should high performing employees be rewarded?
HR needs to create an environment that motivates each individual. One employee may cherish an extra week’s leave while another may prefer a car park. High performance can be rewarded through well-structured incentive plans; it is truly about differentiating the high performers over others. Be clear about what high performance is, and the rest is just maths. This does not always mean clear and concise targets. It is being clear about what and how things will be measured. Consistency is key.
How can HR maintain a high-performing workforce in a highly-connected world?
Even if you put a clause in employment agreements about how remuneration should not to be discussed amongst employees, we need to recognise that people talk about it. The policies and processes that support our remuneration and performance management decision-making need to be consistent and transparent. Employees must know that what they do makes a difference and that their strengths are being utilised.
What advice would you give to HR leaders?
Be careful to understand your business, environment and culture before bringing in best practice initiatives that worked well elsewhere. Every workplace is unique. Ignore its idiosyncrasies at your peril. This does not mean you cannot change things; treat everything you do as a Change Management programme.
Contact:
Stacey Melvin
Journalist
marcus evans, Summits Division
Tel: + 357 22 849 400
Email: press@marcusevanscy.com
About the HR Summit 2012
This unique forum will take place at the RACV Royal Pines Resort, Gold Coast, Queensland, Australia,
4 – 6 March 2012. Offering much more than any conference, exhibition or trade show, this exclusive meeting will bring together esteemed industry thought leaders and solution providers to a highly focused and interactive networking event. The Summit includes visionary presentations and interactive forums on aligning business priorities with employee needs, the increasing demand for labour and the long-term impact of demographic changes.
For more information please send an email to info@marcusevanscy.com or visit the event website at www.hranzsummit.com
marcus evans group – hr sector portal
The HR Network – marcus evans Summits group delivers peer-to-peer information on strategic matters, professional trends and breakthrough innovations.
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Please note that the Summit is a closed business event and the number of participants strictly limited.
About Pivot Software
Pivot Software provides human resource software solutions that enable organisations to improve the effectiveness of remuneration and performance management. Over 50 organisations across Australia and New Zealand use Pivot’s solutions, with the majority in the energy, resources, financial services and professional services sectors. Founded in 2001, Pivot Software has offices in Sydney, Australia and Christchurch, New Zealand.
About marcus evans Summits
marcus evans Summits are high level business forums for the world’s leading decision-makers to meet, learn and discuss strategies and solutions. Held at exclusive locations around the world, these events provide attendees with a unique opportunity to individually tailor their schedules of keynote presentations, think tanks, seminars and one-to-one business meetings. For more information, please visit www.marcusevans.com
All rights reserved. The above content may be republished or reproduced – kindly inform us by sending an email to press@marcusevanscy.com
Corporate Learning & Talent Development Summit 2012
Jan 11th
Translating Knowledge into Business Results
| Deborah Ung of RWD, A Division of GP Strategies, a solution provider at the marcus evans Corporate Learning & Talent Development Summit 2012, on how organizations can achieve better business results. Interview with: Deborah Ung, Executive Vice President, RWD, A Division of GP Strategies |
FOR IMMEDIATE RELEASE
“It is the people in organizations, their knowledge and how that is translated into actions that produces results,” according to Deborah Ung, Executive Vice President, RWD A Division of GP Strategies. Workplace inefficiencies are often due to employees not understanding how to apply their knowledge into actions that produce business outcomes, she adds.
RWD, the recipient of many awards including two Brandon Hall Excellence in Learning Awards, will be present at the marcus evans Corporate Learning & Talent Development Summit 2012 in Braselton, Georgia, April 22-24. Ahead of the event, Ung shares her thoughts on talent management and how Chief Learning Officers (CLOs) can boost the performance of employees and ultimately the organization.
According to your website, workplace inefficiencies waste USD 4.4 billion a day. How can organizations become more efficient?
It is the people in organizations, their knowledge and how that is translated into actions that produce results. Inefficiencies are often because processes are not optimally defined or the technologies in place do not fit well, but most often, it is because the individuals in the organization have not understood how to convert their knowledge into actions that produce results.
Your website also claims that 80 per cent of sales come from 20 per cent of the sales force. How can CLOs boost the performance of the 80 percent?
CLOs need to understand what the top 20 per cent of the sales people are doing so well, including what they do subconsciously. They should capture the best practices of their star performers and codify that in a way that they can then roll out to the rest of the team and management, as so much of sales also relies on effective coaching and mentoring. CLOs need to look beyond the traditional learning approaches.
What do Human Resources (HR) directors and CLOs overlook that is critical to success?
HR has a tendency to focus on competencies and not take that to the next level. HR creates profiles of roles that are based on competencies, but then falls short in translating that to the accomplishments that individuals are expected to perform on the job.
Why is lack of alignment at the top the number one reason why initiatives fail?
We see time and time again strategies that are set at the executive level that have not been applied with an operational lens. There has to be a clear line of sight out to the front line workers, who are ultimately expected to execute against the strategy. CLOs need to start with the end goal in mind and structure interventions accordingly. Learning and training may not always be the best intervention. They need to keep the end result in mind and focus on the actions that could produce those outcomes.
Contact: Sarin Kouyoumdjian-Gurunlian, Press Manager, marcus evans, Summits Division
Tel: + 357 22 849 313
Email: press@marcusevanscy.com
About the Corporate Learning & Talent Development Summit 2012
This unique forum will take place at the Château Élan Winery & Resort, Braselton, Georgia, April 22-24, 2012. Offering much more than any conference, exhibition or trade show, this exclusive meeting will bring together esteemed industry thought leaders and solution providers to a highly focused and interactive networking event. The Summit includes presentations on multi-dimensional ways in delivering business results, e-learning and succession planning.
For more information please send an email to info@marcusevanscy.com or visit the event website
marcus evans group – hr sector portal
The HR Network – marcus evans Summits group delivers peer-to-peer information on strategic matters, professional trends and breakthrough innovations.
Please note that the Summit is a closed business event and the number of participants strictly limited.
About RWD
RWD, a division of GP Strategies, delivers performance-driven solutions to help your organization execute initiatives and transform your people. RWD’s innovative approach aligns people, processes, organization, intent and leadership to ensure front line employees successfully optimize their performance, transform your business and make a measurable impact on your bottom line.
About marcus evans Summits
marcus evans Summits are high level business forums for the world’s leading decision-makers to meet, learn and discuss strategies and solutions. Held at exclusive locations around the world, these events provide attendees with a unique opportunity to individually tailor their schedules of keynote presentations, think tanks, seminars and one-on-one business meetings. For more information, please visit www.marcusevans.com
All rights reserved. The above content may be republished or reproduced – kindly inform us by sending an email to press@marcusevanscy.com