Much too often, a Board of Directors or an Executive Committee limits its strategic view and review to a global Performance Evaluation based on financial results. If Human Resources are the most important assets, one should go through the entire process of 3-P Evaluation in order to ensure a full...
In the United States, a focus on performance has evolved as a natural way to handle human resource management. Companies have been very bottom-line oriented, focusing their attention on achieving short-term results. This short-term perspective translated itself into high short-term performance pay, sometimes reaching up to 60% of total cash...
Through the use of 3-P tools for Organization Analysis, an organization translates overall strategic plans into roles and responsibilities. The tools facilitate a review of the organization structure and assist with organization fine-tuning. 3-P tools for Corporate Objectives Analysis help breakdown overall strategic plans into long- and short-term unit and...
Shouldn't there be a consistent, simple, and integrated approach to human resource management? One in which all aspects of HR, whether performance management, organization effectiveness, compensation, or training and development, are clear, speak to each other, are presented in a consistent manner, and work toward a common goal? Fortunately, there...
There was much fanfare and press coverage about the pension's directive, which was finally a legal requirement from 2005. In comparison, the proposed portability directive has received relatively little in the way of media attention - but the financial consequences of this legislation are far more worrying for European multi-nationals....
Business success is highly dependent on having the right people in place at the right time, on motivating them well, and on providing the appropriate means to retain them and help them exit employment in a planned way. Although financial statements do not directly focus on it, talent...
The most common approach to dealing with globally mobile employees is to maintain participation of those employees within the home country arrangements when they are moved on assignment. In fact, many multinationals base their entire expatriate benefits policy on this "One-size-fits-all" approach. But it is not always possible to maintain...
Employer-sponsored retirement benefits are an essential component of the Dutch retirement income. While social security is fairly generous, employees rely heavily on employer-sponsored pensions during their retirement. More than 90 percent of the workforce participates in occupational or supplementary retirement plans, and for the average employee income during retirement from...
During 2006, company managers will be presenting a new view of their companies to investors and analysts, based on international accounting standards. The company managers may well find that the procedures they have built up over the years to avoid sudden changes to the accounting picture are not so effective...
Creating shareholder value and mitigating risk are two important themes in pension fund management and design. The volatile accounting costs and contribution requirements of Defined Benefit DB pension plans have prompted many global companies to consider switching to Defined Contribution DC plans as the sole vehicle for employer-supported retirement income....
Home country programmes are the most commonly used approach, but they do not always work well. Sometimes they work only with awkward patches. As companies are re-evaluating their approach to retirement benefits in general, they are also re-evaluating the handling of global employees. An alternative approach - the international plan...
France still has many fundamental demographic problems with its population and Social Security arrangements. For a long time, France has not attracted much attention from multinationals as a hospitable country in which to do business. But now could be a good time for companies to take another look at France....
Over the last 20 years, corporations have increasingly used nonqualified voluntary deferred compensation programs in designing compensation packages for key executives. These programs help executives defer base salary and annual incentives to save for retirement on a tax-favored basis. But regardless of their prevalence, are these plans cost-effective for the...
Engaged and motivated employees mean a more efficient and profitable organisation. Employees who do not have their information needs met are likely to be preoccupied with workplace change. The absence of effective two-way communication leads to workplace disruption and hence reduction in productivity and ultimately profitability. Organisations embarking on workplace...
For a typical multinational company, providing retirement benefits to employees in the Asia-Pacific region presents several challenges. These include the sourcing of appropriate products, governance risks associated with centralized HR and finance functions, integration with statutory retirement benefit requirements, and issues relating to mobile employees. A centralized plan covering employees...
Historically, the Austrian pension system had few private plans of substance. Then, in 1990, the system was fundamentally reformed through the introduction of defined contribution-type pension funds, which provided employees with a minimum interest guarantee on accumulated contributions. In 2003, the compulsory severance pay system was also reformed. Before this...
This paper concentrates on alternative strategies for using retirement benefit packages to facilitate global mobility and long-term employment. The paper describes recent developments and the results of the 2005 survey on expatriate benefits as the authors outline best practices in managing this important area of the remuneration package. This area...
Creating a personalised online total rewards site is a complex undertaking - for many reasons. It requires that a person collates precise information on all existing employee reward programmes (including compensation, benefits and careers); then collate the actual entitlements of the various groups of employees; and create data extracts from...
Building a powerful human capital strategy requires company-specific facts, measures and a process for discerning where an individual company will get the most leverage from its people. Mercer Human Resource Consulting has had access to company data - covering over a million employees. Mercer has analysed that data, which consist...
What return does a company get on the investment it makes in its workforce, or 'Human capital'? Is it exceptional, marginal, or negative? Unfortunately, most companies seldom ask that question, or know how to answer it, and so it is frequently ignored. It is also why human capital is the...
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