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UNIVERSITY PARK, Pa. – The Center for Workplace Performance will host its second spring webinar, "Recent Trends in Compensation and Benefits," on Wednesday, March 4, at 8 p.m. EST. This free webinar will be presented by Joe Martocchio, Ph.D., and count towards 1.5 SHRM/HRCI Recertification Credits.
Please note you must register online before the start of the webinar to save a space at the gathering. When you receive a confirmation email, there will be a location on the email that will allow you to update your calendar.
Program:
Compensation and benefits are the key components of extrinsic total rewards systems. Employee compensation refers to wages and salaries employees receive for performing their jobs as well as additional payments for positive job performance and the acquisition of new competencies. Employee benefits refers to compensation other than hourly wage, salary, or incentive payments.
Consideration of compensation trends requires us to recognize different employee groups (rank-and-file as well as managerial/profession) and executives, focusing on pay-for performance issues and the practices that support performance attainment. Contingent worker compensation is increasingly a subject of interest given various legal rulings and other external pressures. Unionization is another important factor requiring consideration.
Three fundamental roles characterize employer-sponsored benefits programs: protection, paid time off, and accommodation and enhancement. Protection programs provide family benefits, promote health, and guard against income loss caused by catastrophic factors such as unemployment, disability, and serious illnesses. Paid time-off policies compensate employees when they are not performing their primary work duties. Accommodation and enhancement benefits promote opportunities for employees and their families. A wide variety of these benefits exist, traditionally including stress management classes, flexible work arrangements, and educational assistance.
In recent years, we have witnessed companies re-visit the composition of traditional benefits practices and sometimes make more than incremental changes. The primary reasons are cost control, workplace diversity, and recruitment and retention. Cost control is driven by rising wages and health care costs. Workplace diversity, particularly generational diversity, is pressuring companies to respond to individuals’ increasingly demanding life circumstances and financial pressures. Examples include paid family leave and financial wellness programs.
This webinar will explore a variety of issues that help to describe and explain the trends in compensation and benefits. The webinar will conclude by discussing the types of approaches related to recent trends in compensation and employee benefits.
Agenda:
About the Presenter:
Joe Martocchio, Ph.D. is a Professor Emeritus at the School of Labor and Employment Relations at University of Illinois at Urbana-Champaign as well as an adjunct instructor at the School of Labor and Employment Relations at Penn State University. Martocchio’s master’s and doctoral degrees are in Human Resources from the labor relations school at Michigan State University. Until teaching for Penn State, he spent his entire career on the Illinois faculty. At Illinois, he held a variety of administrative leadership positions. For years, he also served as the faculty advisor to the student chapter of the Society for Human Resource management during which time students earned Merit Awards and Superior Merit Awards on multiple occasions.
Martocchio has been a prolific scholar in the fields of employee compensation and benefits, employee absenteeism, and employee training and development. In 2018, a study in the Academy of Management Learning and Education revealed that he is in the top one percent of the most influential HRM authors out of a total 9,744. Besides writing scholarly articles, Martocchio is the author of three college-level textbooks: Strategic Compensation: A Human Resource Management Approach (10th ed., Pearson), Employee Benefits: A Primer for Human Resource Professionals (6th ed., McGraw-Hill) and Human Resource Management (15th ed., Pearson).
February 25, 2020
