Do you know what separates successful retail incentive compensation systems from failures?

Money Bag

Posted on September 9, 2014

A large retailer was gearing up for growth, and its call centers had to be prepared for a surge in customer demand.  The company’s leadership and internal audit knew that they could not grow with their existing manual processes that lacked a clear audit trail.

The root of the problem was that each of the three call center departments—website, card services, and collections—operated independently, using different performance metrics, compensation calculations and manual processes.  As a result, pay for performance compensation was often inconsistent and inaccurate.  Plus they lacked the flexibility to move representatives among departments to meet seasonal demand.

Do you know what separates successful retail incentive compensation systems from failures?  Do you know if your investment in automating your pay-for-performance program is paying off?

Join Deloitte, IBM and Kohl’s on September 09 at 1:00 PM ET for a candid case study webinar: ‘Business Enablement: Five Things that Matter for Incentive Compensation Management at Kohl’s’ to discover how Kohl’s instituted IBM Cognos® Incentive Compensation Management solution to:

  • Recognize a return on investment in automating pay-for-performance and review programs
  • Automate the import of qualitative and quantitative data from 15 different source systems
  • Systemize the process for mid-year and end-of-year review for 2,500 customer service representatives

Speakers:

  • Sarah Whealon, Sr. Manager of Enterprise Technology – Credit Division, Kohl’s Corporation
  • Gregory Livengood, Sales Performance Management Consultant, Deloitte Consulting LLP

Leading retailers like Kohl’s are using incentive compensation management to build competitive advantage by responding faster to market changes and opportunities. Register now for this case study webinar and see how it’s done.

Smarter teaming to enhance pay-for-performance compensation

IBM Vision Conference

Posted by Greg Livengood on May 19, 2014

A large retailer was gearing up for growth, and its call centers had to be prepared for a surge in customer demand. The company’s leadership and internal audit knew that they could not grow with their existing manual processes that lacked a clear audit trail. Today at IBM Vision 2014, we will share how Deloitte worked with the retailer to meet corporate goals with IBM’s Cognos ICM.

Continue reading “Smarter teaming to enhance pay-for-performance compensation”

Deloitte and IBM Cognos ICM – Improving Sales Performance Management

Deloitte and IBM Cognos ICM

Sales performance management technology (SPM) alone is not enough to drive improved sales performance. Companies that are focused on improving sales performance need to make smart choices to align their business strategy with the organization, deployment and compensation of their sales organizations. This requires an SPM technology and a team that understands how to improve business performance leveraging systems, process improvements and a relentless focus on sales talent.

Continue reading “Deloitte and IBM Cognos ICM – Improving Sales Performance Management”

Finding the Silver Lining in the New CEO Pay-Ratio Disclosure Rules

Silver Lining

Posted by Michael Kesner on October 23, 2013

Tucked inside 2010’s Dodd-Frank legislation is the requirement for the SEC to implement rules requiring public companies to disclose the ratio of their median employee’s compensation to the CEO’s compensation. The SEC proposed the new rules on September 18, 2013, subject to a 60-day public comment period after the rule is published in the Federal Register. Once finalized, the rules will take effect the following compensation year. So, depending on the effective date, companies will have to start reporting the ratio in 2015 or 2016. (Also depending on the effective date, companies following a fiscal year calendar may be subject to reporting before their calendar year counterparts.) While this may sound too far away to worry about today, calculating the ratios will be no small feat — and will likely come with a substantial “headache factor.” Companies would be wise to prepare sooner rather than later.

Continue reading “Finding the Silver Lining in the New CEO Pay-Ratio Disclosure Rules”

Keeping Tabs on Salary

Keeping Tabs on Salary
Posted by Gregory Stoskopf on June 17, 2013

Salary may be the most basic element of the employer-employee relationship and can also be an organization’s first line of defense—or offense—in the war for talent. Especially as organizations struggle with the talent paradox—the ongoing difficulty to fill critical jobs despite persistent high levels of unemployment—salary can be an essential tool to attract and retain talent, and confirming your pay ranges are in line with the market is a key to being competitive. Salaries are also a very significant cost that should be managed wisely to avoid overpaying for needed talent or underpaying and risking losing talent to competitors.

Continue reading “Keeping Tabs on Salary”

No “One Right Answer” for a Universal Issue

Message to HR Leaders: “Be Bold in 2013”Posted by David Lusk and Scott Cole on March 15, 2013

It seems that no matter where in the world a business operates, it isn’t escaping pressures on the people side of the business.

This is the 19th year we have surveyed employers’ priorities for their rewards programs, but it is the first year we have included international employers. This year the Top Five Global Employer Rewards Priorities Survey includes responses from employers in 27 countries in the Americas, Asia Pacific, and EMEA (Europe, Middle East, Africa) regions. Despite sharp differences in economic, political, and geographic challenges among the regions, survey responses showed much less variation in employer concerns about the following challenges:

  1. Attracting, motivating, and retaining employees
  2. Aligning Total Rewards strategy with business strategy and brand
  3. Motivating staff when pay increases are flat or non-existent
  4. Controlling the costs of employee benefits
  5. Realizing appropriate ROI from reward expenditures

Continue reading “No “One Right Answer” for a Universal Issue”

Building the Next Gen in Financial Services

Building the Next Gen in Financial Services Posted by Rob Dicks and Linda Quaranto on June 1, 2012

Many financial institutions are in the midst of an all-out effort to redeem, refocus, reposition and generally remake themselves in the wake of the financial crisis and ensuing Dodd-Frank regulations (among others). While the topic of executive compensation has received much attention, the talent implications of industry reform reach far beyond the C-suite and far beyond compensation alone, rippling throughout the ranks of both front-office and back-office personnel.

Continue reading “Building the Next Gen in Financial Services”