What questions should your Bank ask about compensation below the CEO and top executives? This session will address pay equity regulations, setting job grades, and determining base salary and appropriate raises for employees. As part of this session we will provide information on conducting market research using industry surveys, using market research to establish and set salary grades, and linking salary increases and performance to positioning in a salary grade. We will also briefly discuss such items as FLSA job classifications (exempt vs. non-exempt) and effectively writing job descriptions. Our focus in this session is on helping HR professionals sort through some of the compensation-related challenges they may encounter.
This webinar also provides best practices for designing a performance management system including a methodology for identifying key accountabilities and competencies for all positions at the Bank. We will also review common performance evaluation rating errors and access tools to make the evaluation process more effective and easier to administer. Also learn how to link the performance evaluation process to salary increases and the annual incentive plan design for staff level employees. We will also discuss what banks are doing with respect to cash-based incentive programs. This will cover plan design(s), goals being used, and award levels for various positions. Additionally, we will highlight applicable regulatory guidelines and updates. As part of this webinar we will utilize a score sheet that shows how your Bank compares to banking industry best practices regarding compensation for non-executive positions.
Covered Topics
- Salary Benchmarking Process
- Salary Grading
- Salary Administration Best Practices
- Salary Increase Matrix
- Performance Management Best Practices
- Sample Performance Evaluation Form Criteria
- Performance Rating Errors
- Staff level Bonus Plan
- Incentive Plans for Producers
Who Should Attend?
This webinar is designed for Human Resource Officers, CEO’s, and members of the senior management team. Also members of the Board’s compensation or personnel committee should attend.