My GMA SHRM Toolbox
Sponsored by Edgewood College and Stafford Rosenbaum, LLP

Bridging the Pay for Performance Gap

Presented byBill Bowbin with the Hay Group

Tuesday, April 21, 2009
City Center West
Madison, WI

Presentation Description
Presenter Bio

Presentation Description

Formerly known as the Wednesday In The Park, the new “My GMA SHRM Toolbox” sessions are geared to provide HR professionals at all levels an opportunity to further their learning in the core areas of Human Resources.  The Toolbox session is meant to be a facilitated & interactive discussion to assist in this learning experience.

Few activities can more strongly align employee behavior with business objectives than an effective performance management process.  However, its inherent complexities and sensitivities have led many organizations to search for a “silver bullet” for addressing the challenges of managing individual, unit, and corporate performance.  Through decades of consulting experience and extensive research – including our work with the Fortune World’s Most Admired Companies – we have identified the essential elements of virtual ly all successful performance management programs.  These include:

• Creating clarity around goals

• Building a culture of dialogue

• Establishing a system of truly differentiated rewards

These elements are interconnected.  Performance management systems and processes depend on clarity and commitment from the leaders in an organization.  Candid and frequent dialogue on performance lets employees know where they stand and builds a foundation for improvement.  Differentiated rewards should reinforce behaviors associated with organizational and job-related objectives, motivate employees to achieve outstanding performance in their jobs, and recognize outstanding performers in a meaningful way.  Research data will highlight common and best practices in terms of how these organizations differentiate employee performance and allocate rewards.  Strategies for rewarding performance will be recommended.

Our Presenter - Bill Bowbin

Bill Bowbin is a Consultant in the Chicago office of Hay Group. His primary focus is helping organizations address compensation-related challenges. Bill is particularly interested in ana lyzing, understanding and valuing work in support of base pay design and administration, employee development, and succession planning. Bill holds a Master of Arts degree from the Institute of Labor and Industrial Relations at the University of Illinois at Urbana-Champaign, and a Bachelor of Science degree from the College of Commerce and Business Administration at the University of Illinois. He is also a Certified Compensation Professional.