3 ways next-generation performance management is evolving for high impact

3 ways next-generation performance management is evolving for high impact

Posted by Terry Patterson on March 28, 2017.

High-impact HR has caused a radical shift in the way performance is being measured and managed in order for companies to be able to attract, engage, and develop their top performers. Organizations are overhauling their performance management programs and focusing on developing the right mix of total rewards and development opportunities to help keep high-performing talent engaged. According to Deloitte’s 2017 Global Human Capital Trends research, 79 percent of surveyed executives consider redesigning performance management a high priority, and organizational capabilities to implement performance management have greatly improved. This “next-generation” performance management addresses today’s workforce issues through three shifts in approach to more strategic performance management.

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IRS extends deadline for providing Affordable Care Act information reporting statements to individuals

IRS extends deadline for providing Affordable Care Act information reporting statements to individuals
Posted by Jerry Karlin on January 18, 2017.

The Internal Revenue Service on November 18 issued Notice 2016-70*, which extends the due date—from January 31, 2017, until March 2, 2017—for insurers, self-insuring employers, and certain other providers of minimum essential health insurance coverage under Internal Revenue Code section 6055 and for applicable large employers under section 6056 to furnish the Form 1095-B and 1095-C to individuals for the 2016 tax year. (Sections 6055 and 6056 were added to the code as part of the Patient Protection and Affordable Care Act of 2010.)

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Should you appeal a health insurance exchange notice?

Should you appeal a health insurance exchange notice?

Posted by Jerry Karlin and Jamie Gross on September 07, 2016.

Many of our clients have reached out to us about notices they have received from public (federal or state) health insurance exchanges. The notices inform employers about employees who have qualified for subsidies to purchase coverage through the exchange, and give employers the chance to appeal this determination. To appeal, employers have to demonstrate they have offered “affordable” coverage that provides “minimum value” to the employee. The question we’re hearing from clients: Should I respond to the notice?

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Workforce analytics Part 2: Informing labor cost optimization

Lisa Disselkamp, on June 21, 2016.

In Workforce analytics Part 1, we discussed three key questions about labor spending that workforce analytics can help organizations answer: (1) How am I doing?, (2) If there are problems, where and when are they happening specifically?, and (3) Is there a business case for change? In Part 2, we look at the how to use the answers analytics uncovers and put them to work in the form of labor cost optimization: the process of refining policy, people, process, and technology to realize desired savings and improvements.

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Workforce analytics Part 1: Exposing payroll leakage

Can you answer three key questions about your labor spending?

Posted by Lisa Disselkamp on May 19, 2016

Do you know if you are spending more on payroll than necessary? The question goes beyond conducting an audit to find errors and fraud. The deeper question to ask is this: Is there unnecessary labor expense that is not the result of a mistake or abuse but has become a source of overspending? Many employers don’t know if they are suffering from inflated time-worked reporting or hidden, unproductive paid time. Without oversight, employers are likely to be paying incorrect (i.e., unnecessary, unintended) time correctly, instead of paying the correct time correctly. Continue reading “Workforce analytics Part 1: Exposing payroll leakage”

Retirement Annuity Accounts

A defined contribution benefit plan option to help stabilize retirement and reduce risk

Retirement Annuity Accounts

Posted by Michael Niciforo and Gursh Jhuty on April 07, 2016.

Will I be able to retire? is a question many employees are asking. More than 85 percent of Americans believe the nation is facing a retirement crisis1 and 72 percent of surveyed employers feel only some employees will be ready for retirement.2 Part of the issue is that many employers who previously sponsored defined benefit (DB) plans (such as pensions) have shifted to defined contribution (DC) plans (such as 401(k)s), putting employees in charge of managing and bearing the risks of investing for their retirement. A new plan design option, Retirement Annuity Accounts (RAAs), helps bridge the gap between traditional DB and DC plans, providing defined benefit features without the investment risk and compliance requirements of a defined benefit plan.

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Proposed FLSA changes bring added costs, complexity

Employers should already be planning for compliance—are you?

Posted by Lisa Disselkamp on March 31, 2016

The Department of Labor (DOL) has proposed changes to the Fair Labor Standards Act (FLSA)1 that will dramatically increase the number of employees who must be paid on an hourly basis. If the regulations are finalized in the summer of 2016 as expected, employers will have 60–90 days to comply. This is a narrow window given the organizational impacts and the decisions that will need to be made, which can stretch beyond HR to IT, finance, and operations. Now is the time to evaluate the potential effects of the changes and plan your compliance strategy.

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Do you have—or are you considering—a private health care exchange strategy?

A thorough strategy should consider populations and HR service delivery implications

Posted by Jill Korsh, and Frank Giordano on January 14, 2016.

Many organizations are considering or have adopted a private insurance exchange (PIX) strategy. According to a 2015 Deloitte Center for Health Solutions survey, employers that have adopted private insurance exchanges (online marketplaces where participants can select health insurance) are positive about their choice. The majority of these adopters believe it simplifies their role, makes it easier to offer a defined contribution approach, and improves access to broader physician/hospital networks.
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Achieving sales performance improvement may lie beyond traditional sales compensation

Achieving sales performance improvement may lie beyond traditional sales compensation

Posted on March 16, 2015

Every year, Deloitte Consulting LLP surveys sales leaders about the state of their sales forces and sales compensation practices: Are they effective? Are they meeting targets? Are sales leaders satisfied with them? For the past three years, from 2012 to 2014, both achievement of targets and satisfaction with sales productivity have remained flat – hovering at or below 50 percent in both areas. This despite a majority of responding leaders (65 percent) who believe the economy has already recovered or would by the end of 2014.1 Are sales compensation practices to blame for the mismatch between a growing economy and the failure of sales forces to take advantage of the opportunity?

Incentive pay has historically been one of the primary motivational tools in a sales leaders’ tool box to drive behavior and results. But results of the 2014 survey may offer insights into other factors organizations should examine to improve sales performance. For example, the learning and development provided to sales representatives, how quotas are set and communicated, how sales representatives are selected and onboarded — these are just some of the elements that make up a broader sales performance ecosystem, along with sales compensation.

Read more about the 2014 survey results, the trends revealed over time, and the factors that influence sales performance in our newest survey report: Great sales expectations: The growing gap between sales force expectations and the influence traditional sales compensation has on performance.


“I know the perfect person…”

Boosting recruiting and retention through employee referral programs

Talent Referral

Posted by Robin Erickson on October 21, 2014

Tapping current employees to source new candidates is a viable recruiting strategy for many reasons: high return on investment (Bersin research found that 9 percent of the overall spend for sourcing went to employee referrals, delivering 16 percent of new hires1 ); good cultural fit (employees tend to refer candidates with similar skills and attributes); access to specialized or hard-to-find skills (people typically network with others in similar roles); and long-term effectiveness (one study showed a 42 percent retention rate after three years for employees hired through employee referral programs vs.32 percent for employees hired through job boards and 14 percent for career site hires2).

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