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The WorldatWork Handbook of Compensation, Benefits & Total Rewards: A Comprehensive Guide for HR Professionals

Name: The WorldatWork Handbook of Compensation, Benefits & Total Rewards: A Comprehensive Guide for HR Professionals
Author: WorldatWork
ISBN: 9780470085806

by WorldatWork

May 2007

Beginner to intermediate

864 pages

23h 46m

English

Wiley

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Copyright
Introduction: Redefining Employee Rewards
The Evolution of Rewards
About the Author
1. Total Rewards: Everything That Employees Value in the Employment Relationship
Broadening the Definition of Total RewardsEvolution of the WorldatWork Total Rewards ModelExploring the Key AreasCompensationBenefitsWork-LifePerformance and RecognitionDevelopment and Career Opportunities
2. Why the Total Rewards Approach Works
The Top Five Advantages of a Total Rewards Approach1. Increased Flexibility2. Improved Recruitment and Retention3. Reduced Labor Costs/Cost of Turnover4. Heightened Visibility in a Tight Labor Market5. Enhanced ProfitabilityReference
3. Developing a Total Rewards Strategy
The Total Rewards BlueprintFive Common Ways a Total Rewards Strategy Can Go AstrayCrystallizing the Spirit of Your Total Rewards PlanIssues That a Total Rewards Strategy Should Address1. Clear, Compelling Strategies Help People Make Good Decisions Faster2. Clear, Compelling Strategies Help Identify Potential Friction Points3. Clear, Compelling Strategies Help Provide Supporting ArchitectureThe Bottom Line
4. Designing a Total Rewards Program
Step 1: Analyze and AssessWhy Conduct an Assessment?How to Conduct an AssessmentWhat to Consider in an AssessmentStep 2: DesignDefine the Corporate Mission and VisionDefine the Business StrategyDefine the HR Philosophy and StrategyDefine the Total Rewards Philosophy StatementDefine Your Total Rewards StrategyStep 3: DevelopProgram Purpose/ObjectivesEligibilityBaseline for MeasurementFundingThe Concept of Present ValueSelection of Rewards Elements and StructureCreating the Rewards MixGlobal ConsiderationsCourse of Action/TimelineStep 4: ImplementObtain Senior Management ApprovalForm an Implementation TeamStep 5: CommunicateBuilding a Trusting RelationshipKnow the FactsCrystal Clear CommunicationHonesty: The Best PolicyAudienceManagementFront-Line SupervisorsEmployeesExternal AudiencesKey MessagesMediaBudgetTimelineFeedbackHow to Communicate Bad NewsStep 6: Evaluate and ReviseThe Review ProcessMeasurementsQuantitative MeasurementsQualitative MeasurementsEvaluative Outcomes
5. Communicating Total Rewards
A Communications Approach with OomphThe Power of CommunicationTop Management Buy-InThe Bottom LineCommunication FundamentalsModels of CommunicationThe Communication ProcessStep 1: Analyze the SituationStep 2: Define the ObjectivesStep 3: Conduct Audience ResearchStep 4: Determine Key MessagesStep 5: Select Communication ChannelsStep 6: Develop the Communication CampaignStep 7: Implement the CampaignStep 8: Evaluate the CampaignCommunicating the Program’s RichnessCompensationBenefitsWork-LifePerformance and RecognitionDevelopment and Career OpportunitiesSpecial SituationsCommunicating with Various Levels of EmployeesMergers and AcquisitionsCommunicating in a Union EnvironmentOff-Shift, Off-Site, and Remote Location EmployeesGlobal CommunicationsMedia ConsiderationsBrandingEmployer BrandingA Case Study: Southern CompanyTotal Rewards BrandingMedia ChoicesWritten CommunicationTechnology-Based CommunicationContentResources and PrioritiesUser FeedbackAdding Information“Three Clicks” RuleGraphicsVerbal CommunicationAudiovisual CommunicationImplementationPlanning a CampaignProject ManagementProject PlanningManaging a CampaignPreintroduce the Communication CampaignCommunication during Program RolloutGathering and Responding to Employee FeedbackEvaluationWorking with an Internal Communication DepartmentWorking with External SpecialistsMeasuring Return on InvestmentDefine MeasurementsTrack StatisticsInvestigate Cost SavingsCritical Outcomes
6. Compensation Fundamentals
The Foundation: A Compensation PhilosophyCharacteristics of Compensation ProgramsElements of CompensationThe Basics: Base PayJob AnalysisJob EvaluationMarket-Driven SystemsJob-Worth SystemsDifferences between Market-Driven and Job-Worth SystemsThe Future Is NowMarket AnalysisSalary RangesCompetenciesIncentive PayDesign ElementsReasons for FailureManagement of Pay for PerformanceDesigning a Merit Increase MatrixOverseeing Salary ManagementEffective Compensation Management

7. Regulatory Environment: The FLSA and Other Laws That Affect Compensation Practices
Fair Labor Standards Act of 1938What Is the FLSA?Who Does the FLSA Affect?What Is Covered?Minimum WageHours WorkedWorkweekRates of Pay and Overtime CalculationsChild Labor RestrictionsRecordkeeping RequirementsWhat Is Not Covered?ClassificationsExempt and Nonexempt CategoriesDetermination Tests for Classifying Exempt EmployeesSalary Limit TestSalary BasisDuties TestsRates of PayRegular Rates of PayTypes of PayHourly RatePiece-RateDay Rates and Job RatesSalary BasisFixed Salary for Fluctuating HoursEmployees Working Two or More RatesCommission PaymentsCommissions Paid on a Workweek BasisDeferred Commission PaymentsOvertimeOvertime and Regular Rates of PayTime of Overtime PaymentOvertime CalculationHourly Rate Employee Overtime CalculationNonexempt Salaried Employees Overtime CalculationDay Rates and Job RatesTwo or More RatesPiecework CalculationsCommissions in Overtime CalculationsCommissions Paid on a Regular Weekly BasisDeferred Commission PaymentsOvertime Pay and Special CasesCommon Problems in Computing OvertimeOverlapping WorkweeksRetroactive Pay IncreasesOvertime Averaging by Pay PeriodExclusions from Overtime PaymentThe FLSA/FMLA InterplayBasic FMLA ProvisionsThe FLSA and FMLA Regulatory BackgroundSpecial CalculationsCourt RulingsPresent Approaches in Court InterpretationsSafe HarborFLSA Violations and PenaltiesViolation-Related DefinitionsWillful ViolationRepeated ViolationsGood Faith DefenseStatute of LimitationsEffect of Improper Deductions from SalaryWhat Prompts an Audit?Employee ComplaintRandom AuditIndustry/Geographic TargetCommon FLSA ViolationsCompensatory Time OffFailure to Pay for Unauthorized Hours WorkedBonus Pay Exclusion from Regular Hourly RateFailure to Pay for All Recorded HoursInaccurate RecordsEmployee MisclassificationImproper Payment for Break TimeOn-Call TimeTraining TimeTravel TimeSherman Antitrust Act of 1890Enforcing AntitrustDavis-Bacon Act of 1931National Labor Relations ActWalsh-Healey ActService Contract ActAnti-Discrimination LawsEqual Pay Act of 1963Title VII of the Civil Rights Act of 1964Age Discrimination in Employment Act of 1967Executive Order 11246Vocational Rehabilitation Act of 1973Vietnam Era Veterans Readjustment Act of 1974Americans with Disabilities Act of 1990
8. Market Pricing
Where Do You Begin?Job AnalysisJob Documentation and Job DescriptionsJob EvaluationBenchmark JobsCollecting the Right DataDecision Factors in Collecting Market DataKnow the Market: Half the BattleGathering Valid DataData SourcesPurchase Published SurveysConduct Your Own Survey through a Third PartyUse Free SourcesCapturing Competitive Market Data for High-Demand JobsCrunching NumbersOptions for Measuring Central TendencyPercentilesAging Data to a Common Point in TimeWeighting Market Data Across Survey SourcesDeveloping Market Index of CompetitivenessMarket Blips—a Word of CautionApproaches to Program CostsAll-at-Once ApproachPhase-in ApproachWait-and-See ApproachHow to Keep Employees in the LoopWho Should Communicate the Message?What Information Should be Communicated?Opening the Pay Dialogue
9. Salary Surveys: A Snapshot
The Big PictureDefinition and PurposesBenchmark SurveysWhich Jobs to SurveySurvey Job DescriptionsWhich Companies to SurveyData to Be GatheredMore Than Just SalariesReview the Survey DatabaseWhen to Conduct an Ad Hoc or Special SurveyJob MatchingFor All JobsFor Jobs in a FamilyJob Title and CharacteristicsSurvey FrequencyStretching the Salary Survey BudgetBehind the ScenesPreparationGather DataCreating the Master FileInitial ReportsFinal ResultsThe Compensation Practitioner’s RoleExtracting DataSynchronizing Surveys with Economic DataCommunicationsSalary Survey GuidelinesBest Practices in Survey SelectionCharacteristics of Good Salary Surveys
10. Job Analysis, Documentation, and Evaluation
Job DocumentationWhat Is a Job?Job Analysis: A Step-by-Step ProcessStep 1: Obtain Management ApprovalStep 2: Gain Employee AcceptanceGaining Union SupportStep 3: Decide Who Will Conduct the AnalysisStep 4: Think in Terms of Work FlowStep 5: Consult Secondary Sources FirstInternal SourcesExternal SourcesStep 6: Decide Method and Collect DataObservation MethodHow to ObserveObservation and InterviewsObservations: Advantages and DisadvantagesOne-on-One InterviewingStarting an InterviewWriting a Job DescriptionHow to Ask QuestionsClosing the InterviewGroup InterviewsInterviewing CustomersInterviewing: Advantages and DisadvantagesQuestionnairesOpen-Ended QuestionnairesClosed-Ended QuestionnairesQuestionnaires: Advantages and DisadvantagesStep 7: Document the AnalysisStep 8: Obtain Necessary ApprovalsStep 9: Test for Legal ComplianceStep 10: Conduct a Reality TestStep 11: Formulate Specific RecommendationsStep 12: Keep Up-to-DateJob and Work Analysis: Weighing Costs and BenefitsJob EvaluationInternal Job Evaluation—Nonquantitative MethodsInternal Job Evaluation—Quantitative MethodsInternal Job Evaluation—Point Factor
11. Base Pay Structures
Pay StructuresGeneral and Specific Factors Affecting Pay StructuresAnatomy of a Pay StructurePay Ranges and Range SpreadsSome Practical ConsiderationsMidpointsRange PenetrationMidpoint ProgressionThree Approaches to Developing MidpointsPay GradesSegmentation of Pay GradesPay-Grade OverlapMultiple Pay StructuresDeveloping a Pay StructureInternal EquityExternal CompetitivenessDefining CompetitionKey Steps in Designing an Effective Pay StructureStep 1: Review Overall Point DifferentialsStep 2: Rank Order Jobs by Total Evaluation PointsStep 3: Develop Job GroupingsStep 4: Develop Preliminary Point BandsStep 5: Check Intrafamily and Supervisory RelationshipsStep 6: Incorporate Market DataStep 7: Review Market InconsistenciesStep 8: Smooth Out Grade AveragesStep 9: Review Differences between Midpoints and Market AveragesStep 10: Resolve Inconsistencies between Internal and External EquityPitfalls and PrecautionsBroadbandingStarting Rates of PayIncreases to Base Rates of PayMerit Pay ConsiderationsPerformance Appraisal ConsiderationsMaintaining and Auditing the Pay ProgramKeys to Successful Pay Program MaintenanceOngoing Administrative ActivitiesPay Program AuditsFive Steps to Prepare for and Conduct Pay Program AuditsStep 1: Decide What to AuditStep 2: Select the ParticipantsStep 3: Develop a Data Collection and Analysis PlanStep 4: Assemble the Necessary Data to Support the AnalysisStep 5: Analyze the Collected Data and Develop Findings and Recommendations
12. Sales Compensation Fundamentals
Working with the Sales OrganizationSix Areas of Sales Compensation Plan Involvement1. Problem Resolution2. Design and Implementation Process3. Sales Compensation Guiding Principles4. Competitive Pay Assessments5. Industry Trends and Practices6. Plan Effectiveness AssessmentLearning a New LanguageCompensation Tied to Total RewardsDirect and Indirect Financials (Total Pay)AffiliationCareerWork ContentVariable Pay Plan CategoriesSales Compensation PhilosophyGuiding PrinciplesEligibility for Sales CompensationTarget EarningsSalary/Incentive Ratio and Target UpsideSalary/Incentive Ratio (Mix)Target Upside (Leverage)Plan Measures and Performance StandardsPerformance MeasuresNumber of MeasuresPerformance StandardsSales CreditingTiming ConsiderationsAlternative MechanicsPlan TypesModifiersUnderstanding How Sales Compensation Fits
13. Executive Compensation: An Introduction
Owner-Manager Conflict: Agency TheoryOther Theories That Explain and Influence Executive CompensationExternal Influences on the Executive Compensation PackageSources of Data on Executive CompensationComponents of Executive CompensationSalaryBonusStock OptionsStock GrantsOther Stock-Based Forms of CompensationPensionsBenefits and PerquisitesSeverance PaymentsChange-in-Control ClausesMaking the Offer AttractiveProviding the Proper IncentivesDesigning the Contract to Retain the ExecutiveRestrictionsMinimizing Costs to the CorporationReferences
14. Linking Pay to Performance
Determining What to RewardDocumenting Performance StandardsEstablishing a Merit BudgetDetermining Budget SizeDetermining Budget AllocationSetting Merit Pay PolicyPolicy DecisionsSize: Absolute vs. RelativeTiming: Anniversary vs. Common ReviewDelivery: Base vs. Lump SumPolicy ImplementationPerformancePerformance and Position in RangePerformance and Position in Range Using Variable TimingManaging a Merit Pay PlanTrainingPerception of FairnessHow Computer Technology Can Assist AdministrationEvaluating a Merit Pay PlanMerit Pay Advantages and DisadvantagesLinking Results and Competencies to Business StrategyDetermining the Performance Management CyclePhase I: Planning Performance for the Upcoming PeriodPhase II: Coaching Performance and Giving Feedback throughout the PeriodPhase III: Rating Performance for the Just-Completed PeriodPerformance Rating ApproachesUsing Summary RatingsEmployee ResponsibilityMultirater AssessmentLinking Performance Management and Pay Delivery
15. Cash Bonus Plans and Recognition Programs
What Is a Sign-on Bonus?Size of Sign-on BonusClaw Back ClauseAligning the Sign-on Bonus with Total RewardsExecutive Sign-on BonusGolden HellosPotential PitfallsCauses Resentment among Existing EmployeesRelocation ExpensesLack of ROI DataTaking a RiskCommunicating the Sign-on BonusWhat Is a Referral Bonus?EligibilityTiming of Cash Award DistributionPromoting an Employee Referral ProgramWhat Is a Spot Bonus?Size of Spot BonusSpot Recognition Program GuidelinesHow to Effectively Use Spot RecognitionPotential PitfallsConducting the Recognition EventDocumenting RecognitionCommunicating the Spot ProgramWho Does the Recognizing?Legal and Tax RequirementsDetermining Tax LiabilityLegal ComplianceWhat Is a Retention Bonus?Building a Business CaseInstrumental in Meeting Organizational GoalsCombating TurnoverRetention Bonus Q & AExamplesERISA ImplicationsPotential PitfallsCommunicating the Retention PlanCash Bonuses in the Total Rewards Mix
16. Equity-Based Rewards
Business StructuresCompensation Plans Using EquityBenefits Plans Using EquityEquity TerminologyEvolution of Equity-Based RewardsEvolution of Stock OptionsEvolution of Benefits Plans Using EquityESPPsESOPsWhy Equity Is Used to Reward EmployeesLegal, Tax, and Accounting IssuesImpact of Legislation on Equity-Based Rewards ProgramsInternal Revenue CodeForms of Taxation: EmployeeForms of Taxation: EmployerAccounting Basics: Financial StatementsIncome StatementAccounting for Equity-Based RewardsAPB 25FAS 123(R)Equity Accounting ContinuumImpact of Mandatory ExpensingShareholder IssuesOverview of Stock OptionsKey DatesStock Option CharacteristicsAdvantages of Stock OptionsEmployeeEmployerDisadvantages of Stock OptionsEmployeeEmployerTypes of Stock OptionsIncentive Stock Option (ISO)ISO RequirementsISO Tax Implications for the EmployeeISO Tax Implications for the EmployerNonqualified Stock Option (NQSO)NQSO Tax Implications for the EmployeeNQSO Tax Implications for the EmployerNQSO LimitationsTypes of Stock Awards and AlternativesPerformance Share Plan (PSP)PSP Tax Implications for the EmployerPSP Tax Implications for the EmployeePSP Accounting ConsiderationsPSP Pros and ConsRestricted Stock Award (RSA)RSA Tax Implications for the EmployerRSA Tax Implications for the Employee83(b) ElectionRSA Accounting Considerations162(m) ConsiderationsRSA Pros and ConsRestricted Stock Unit (RSU)Performance Accelerated Restricted Stock Award Plan (PARSAP)Stock Appreciation Right (SAR)SAR Tax Implications for the EmployerSAR Tax Implications for the EmployeeSAR Accounting ConsiderationsSAR Pros and ConsPhantom StockPhantom Stock Tax Implications for the EmployerPhantom Stock Tax Implications for the EmployeePhantom Stock Accounting ConsiderationsPhantom Stock Pros and ConsPerformance Unit Plan (PUP)PUP Tax Implications for the EmployerPUP Tax Implication for the EmployeePUP Accounting ConsiderationsPUP Pros and ConsTypical Performance Metrics of PUPsThe Use of Equity in Benefits PlansEmployee Stock Purchase Plan (ESPP)Statutory RequirementsESPP Pro and ConESPP Tax Implications for the EmployeeESPP Tax Implication for the EmployerDefined Contribution PlansEmployee Stock Ownership Plan (ESOP)ESOP RequirementsESOP vs. Stock OptionsESOP Tax Implications for the EmployerMoney Purchase Pension Plans401(k) PlansKey Features of the Basic 401(k) Plan401(k) Tax Implications403(b) Plans
17. Employee Benefits Basics
Historical Perspective of BenefitsElements of BenefitsIncome Protection ProgramsPay for Time Not Worked ProgramsBenefits Plan ObjectivesEmployer ObjectivesEmployee ObjectivesGovernment Regulation of Benefits PlansEqual Employment Opportunity Commission (EEOC)Department of Labor (DOL)Securities and Exchange Commission (SEC)Pension Benefit Guaranty Corporation (PBGC)Statutory BenefitsSocial SecurityOld Age (OA): Retirement BenefitsFloor of ProtectionSocial Security Health Insurance (HI)Social Security FICA TaxWorkers’ CompensationUnemploymentNonoccupational DisabilityHealth and Welfare PlansHealth and Welfare: A Brief HistoryHealth and Welfare Plan ElementsHealth CareHealth Maintenance Organization (HMO)Preferred Provider Organization (PPO)Point of Service (POS)Point of Service (POS) Key CharacteristicsIndemnity PlansPrescription DrugBehavioral HealthDental PlansVisionLong-Term CareDisability IncomeSick LeaveShort-Term Disability (STD)Long-Term Disability (LTD)Survivor BenefitsTerm Life InsuranceAccidental Death and Dismemberment (AD&D)Supplemental Life InsuranceDependent Life InsuranceFlexible BenefitsRetirement PlansDefined Benefit (DB) PlansDefined Contribution (DC) PlansPay for Time not Worked BenefitsVacationSick LeaveLegal HolidaysBereavement LeaveMilitary LeavesJury DutyPersonal HolidaysPTO (Paid Time Off) BanksOther BenefitsThe Importance of Effective CommunicationLegal RequirementsCobraize EmployeesCreating and Building Awareness of BenefitsEnhancing Confidence and TrustInvolve Employees in Benefit ChangesProjected Benefits Trends
18. Benefits Compliance: An Overview for the HR Professional[1]
The Employee Retirement Income Security Act of 1974 (ERISA)The Nature of the Pension Promise: Defined Benefit vs. Defined ContributionThe Scope of ERISARegulatory ExemptionsReporting and DisclosureThe “Written Plan” and Claims Procedure RequirementsThe Summary Plan DescriptionPlan Assets and the ERISA Trust RequirementMinimum Participation StandardsMinimum Vesting StandardsBenefits Accrual RequirementsForm of Payment of Benefits RequirementsMinimum Funding StandardsFiduciary DutiesCOBRA Group Health Plan Continuation Coverage RequirementsPension Plan Termination InsuranceMultiple Employer Welfare ArrangementsThe Internal Revenue CodeTax Advantages of Qualified Retirement PlansPension, Profit-Sharing, and Stock Bonus PlansImpact of EGTRRA on Money Purchase Pension PlansThe Income Taxation of Fringe Benefit PlansGroup-Term Life Insurance (Code §79)Accident and Health Plans (Code §§104, 105, and 106)Cafeteria Plans (Code §125)Educational Assistance Programs (Code §127)Dependent Care Assistance (Code §129)Adoption Assistance Programs (Code §137)The Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA)Increases in Annual Employee Deferral LimitsIncreases in the Overall Code §415 Contribution LimitationDeferred Compensation Plans Under Code §457RolloversThe Roth 401(k) Plan OptionDeduction LimitsNotice Requirement for Pension Plan Benefit Accruals ReductionTop-Heavy RulesMultiple-Use Test RepealedSame Desk Rule EliminatedSafe Harbor Hardship Withdrawal Rules Modified
19. Worker Privacy, Unpaid Leave, and Other Benefit-Related Laws That Protect the Individual
The Health Insurance Portability and Accountability Act of 1996 (HIPAA)Title I: Group Health Plan PortabilityPre-existing Condition LimitationsPre-existing ConditionsCertificates of Creditable CoverageNondiscriminationSpecial Enrollment RightsGuaranteed Access Individual Market CoverageTitle II, Subpart F: Administrative SimplificationNational Standards for Electronic Transmission of Health Care DataUnique Health IdentifiersPrivacy of Individually Identifiable Health InformationSecurityThe Newborns’ and Mothers’ Health Protection ActThe Mental Health Parity Act of 1996The Women’s Health and Cancer Rights Act of 1998Family and Medical Leave Act of 1993 (FMLA)Employer Coverage, Employee Eligibility, and Leave EntitlementIntermittent LeaveSubstitution of Paid LeaveHealth Care ProvidersMaintenance of Health BenefitsJob RestorationEmployee Notice and CertificationEmployer Notice and CertificationNondiscrimination LawsTitle VII of the Civil Rights Act of 1964Retirement Plans: Contributions and BenefitsRetirement Plans: EligibilityDeath BenefitsHealth and Disability InsuranceAge Discrimination in Employment Act of 1967 (ADEA)Section 4(f)(2)(B)Section 4(i)Section 4(l)Americans with Disabilities Act of 1990 (ADA)Health InsuranceDisability Retirement Plans and Service Retirement PlansUniformed Services Employment and Re-Employment Rights Act of 1994 (USERRA)Profit-Sharing Contributions Required401(k) ContributionsRe-employment RightsBenefits EntitlementMilitary COBRA Rights RequiredWorker Adjustment and Retraining Notification Act of 1988 (WARNA)Plant ClosingMass LayoffImpact on Employee BenefitsIn Closing
20. Planning Benefits Strategically
Internal and External Influences on StrategyThe Strategic Planning ProcessApproaches to Strategic Benefits PlanningTop-Down ApproachBacking-in ApproachWho’s Managing the Strategic Benefits Planning Process?Design and ImplementationStep 1: Developing a General PhilosophyStep 2: Understanding the EnvironmentStep 3: Creating the Design BlueprintJustifying CostsStep 4: Testing and Finalizing the DesignFinancial ManagementAdministration and Systems SupportStep 5: Implementing the RolloutOutcomes of Strategic Benefits PlanningEvaluationThe Role of EvaluationBeyond the Strategic PlanReferences
21. Implementing Flexible Benefits
Types of Flexible Benefits PlansPretax Premium PlansFlexible Spending AccountsSimple Choice PlansFull Flexible Benefits PlansFlexible Benefits Plan DesignEligibilityInterim Core PlanDeduction Effective DatesEnrollment ChoicesAnnual Re-enrollmentDefault ElectionsFamily and Employment Status ChangesSpecial Classes of EmployeesPart-Time EmployeesLeave of AbsencePricing Flexible Benefits OptionsMarket-Based Pricing and CreditsIncentive-Based Pricing and CreditsNet Cost Pricing without CreditsTax Issues and Employer ObjectivesPretax BenefitsPretax or After-Tax BenefitsAfter-Tax Benefits“Freezing” Pay for Pricing PurposesAdjusting Prices from Insured RatesCommunication ApproachesCommunication TimingAnnual Enrollment ProcessPhase I: Data SetupPhase II: Individualized WorksheetsPhase III: Distribution of InformationPhase IV: ConfirmationPhase V: Integration of InformationPhase VI: ReviewOngoing EnrollmentAnnual Re-EnrollmentSpending Account AdministrationLegal IssuesSummary Plan DescriptionForm 5500Nondiscrimination Rules
22. Work-Life Effectiveness
Changing DemographicsThe Evolution of Work-Life InitiativesWork-Life Effectiveness: A DefinitionWhy Companies Address Work-Life IssuesTo Attract and Retain TalentCompanies Want to Retain WomenTo Raise Morale and Job SatisfactionTo Increase ProductivityTo Increase Commitment and EngagementTo Reduce Health Care CostsTo Combat BurnoutTo Attract InvestorsTo Be a Good Corporate CitizenWays to Address Work-Life IssuesProgramsPolicies and BenefitsPracticesSupportive Work EnvironmentCompany CultureWork-Life StrategyDeveloping a Work-Life VisionMarketing Work-Life InitiativesHow to BeginSource of CommitmentAnticipating ProblemsDeveloping an Appropriate Marketing StrategyPutting it All Together: ChecklistCalculating the Return on InvestmentCost and ValueThe Future of Work-Life Effectiveness
23. Caring for Dependents
Child-Care IssuesDirect Child-Care ServicesAssessing Child-Care NeedsOn-Site and Near-Site Child-Care CentersConsortium Child-Care CentersBack-Up (Emergency) Child CareCare for Sick ChildrenSchool-Age Child Care24-Hour (Odd-Hour) CareOther Child-Care OptionsProviding Information and SupportPolicies and Customized Work ArrangementsProviding Financial AssistanceElder-Care IssuesDescription of Elder CareCost of Elder Care and the Needs of Working CaregiversEmployers’ Responses to Employees’ Elder-Care NeedsInformation and SupportElder-Care Consultation and ReferralElder-Care Workshops/Support GroupsElder-Care Resource ExpoWork-Life Resource AreaEnd-of-Life SupportsPoliciesFinancial Assistance/Financial PlanningSubsidized Emergency or Respite In-Home Elder-Care ServicesDirect Elder-Care ServicesGeriatric Care ManagersSupports for Community-Based ServicesAdult Care CentersIntergenerational Care ProgramsImplementing a New Elder-Care ProgramEvaluating an Elder-Care ProgramThe Future of Corporate Elder Care
24. Culture at Work
Defining CultureTips for Contending with ResistanceBeliefs and RitualsDiversityFormality and InnovationImportance of CultureMatching Culture with Strategic GoalsImpact of Culture on Total Rewards Programs
Notes
Chapter 12Chapter 13Chapter 18
Total Rewards Glossary
Worldatwork Course Names
Handbook References
Chapters 1 to 5 (Total Rewards)Chapters 6 to 16 (Compensation/Performance Management)Chapters 17 to 21 (Benefits)Chapters 22 to 24 (Work-Life)
WorldatWork Bibliography
Publisher: Worldatwork, Scottsdale, ArizonaWorldatwork How-To Series for the HR Professional

Content preview from The WorldatWork Handbook of Compensation, Benefits & Total Rewards: A Comprehensive Guide for HR Professionals

Editor’s note: WorldatWork developed the content for this handbook by assembling, deriving, updating, editing, and reprinting work from the following WorldatWork publications. All of these resources, including complete books and articles, are composed from the WorldatWork body of knowledge and can be accessed and/or purchased by association members and nonmembers through WorldatWork certification courses as well as the WorldatWork bookstore, library, and other educational offerings (www.worldatwork.org).

Chapters 1 to 5 (Total Rewards)

[biblio01_001] 2000. Total Rewards: From Strategy to Implementation.

[biblio01_002] 2002. The Best of Communicating Total Rewards: A Collection of Articles from WorldatWork.

[biblio01_003] Kantor, Richard, and Tina Kao. 2004. “Total Rewards: Clarity from the Confusion and Chaos.” WorldatWork Journal, Third Quarter: 7–15.

[biblio01_004] Kantor, Richard, and Tina Kao. 2004. “Total Rewards: From Clarity to Action.” WorldatWork Journal, Fourth Quarter: 32–40.

[biblio01_005] O’Neal, Sandra. 2005. “Total Rewards and the Future of Work.” workspan, January: 19–26.

[biblio01_006] Rogers, Susan, Karl W. Lohwater, and Holly Hager. 2006. Communicating Total Rewards: How-to Series for the HR Professional.

[biblio01_007] Stoskopf, Gregory A. 2004. “Using Total Rewards to Attract and Retain Health Care Employees.” WorldatWork Journal, Third Quarter: 16–25.

Chapters 6 to 16 (Compensation/Performance Management)

[biblio01_008] 2002. Market Pricing: Methods to the Madness

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