L-Blast | October 2018
It’s hard to believe the holidays are around the corner and soon we will be gathering with family and friends to celebrate and wrap up 2018! Here at NFPCC are excited to celebrate Thanksgiving, one of our favorite holidays, and are grateful for all of you and the blessed year we’ve had.
We have some interesting articles to share with you all in this month’s L-Blast. The first piece is an NFPCC original article on compensation risk assessment. This requirement under Dodd-Frank has been taken somewhat lightly and we’d like to shed some light on how you should be approaching the disclosure to get the most out of your risk assessment exercise and avoid exposure.
The second piece from our friends at WorldatWork is on the growing concern global executives are facing when it comes to finding the talent necessary to meet company goals. To attract and retain top performers in today’s tight market where employees have more bargaining power, it’s necessary for companies to shift talent-sourcing strategies to better understand what matters most to employees and pave for them a clear path for internal career advancement.
The next article is on the topic of counteroffers. Due to the increased talent shortage we are seeing, counteroffers have become more prevalent, but do they make sense? We have some thoughts on the subject: 1. We think counteroffers are often counter productive. 2. If you have a solid compensation program that is market competitive, you can always replace the person for “market.” 3. If you have a star performer, they should be paid above market norms (50th percentile) and if they then leave, again you have above 50th percentile to attract others. We hope you find the article and these tips helpful in the event you are faced with this challenge.
We are excited to launch our Energy Pay Pulse survey on December 1st. If you are in the Oil & Gas industry we invite you to participate as this survey will reveal the latest salary trends and pay practices to help keep your compensation programs competitive.
Lastly, as part of our commitment to educate and provide you with helpful resources, we have put together a dictionary of key compensation terms available for download below. In addition, we have other downloadable resources available to you on our website, here. We plan on expanding our library so check back often! As always, let us know if there is a particular subject you’d like to learn more about.
The NFPCC Team
Compensation Risk Assessment: Supporting Your Claims & Avoiding Exposure
In July 2010 Congress passed the Dodd-Frank Wall Street Reform and Consumer Protection Act; primarily, as a response to the financial crisis of 2007-2009. A key provision under Dodd-Frank requires public company directors to determine if the company’s compensation and governance programs incentivize or exacerbate company risk. Additionally, this rule requires companies to provide commentary.
Do Counteroffers Make Sense?
Countering a competitor’s offer won’t keep an employee for long if other issues aren’t resolved
When an employee decides to take another job, should an employer make a counteroffer, usually in the form of a pay increase, in the hope of retaining that employee? For many companies, the answer is yes. A 2018 survey of 5,500 hiring managers by staffing firm …
2019 Energy Pay Pulse Survey Launches December 1st
At NFPCC, we’ve designed our participant-only 2019 Energy Pay Pulse Survey to concisely and powerfully asses market trends for companies in the energy industry. The survey will capture current compensation trends as they relate to:
• Salary increases
• Employee hiring/turnover
• Anticipated bonus payouts
• Long-term incentive grant awards
• Retention-related practices
The survey is scheduled to launch on December 1, and final survey results are scheduled to be available early January. Click the button below for more information or to participate.
A Little Trivia… Did You Know?
Fall leaf colors are present year-round but only show once chlorophyll — the chemical that makes leaves green — breaks down in the autumn.
To download a copy of the L-Blast or see a PDF version click the link below: