1 / 29

Tampa Bay ISCEBS

Tampa Bay ISCEBS. Strategic Planning for Human Resource and Employee Benefit Professions Paul Hackleman, Principal SST Benefits Consulting Former Benefits Manager – San Mateo County. Three Biases and a Promise. Impact, not money, is currency

alaqua
Download Presentation

Tampa Bay ISCEBS

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. Tampa Bay ISCEBS Strategic Planning for Human Resource and Employee Benefit Professions Paul Hackleman, Principal SST Benefits Consulting Former Benefits Manager – San Mateo County

  2. Three Biases and a Promise • Impact, not money, is currency • Success is a process, not a place / not an end • Questions, not answers, shape organizations • Ongoing assistance

  3. Observations • Organizations are rarely strategic • If you don’t know where you are going you might end up somewhere else. Yogi Berra • Crisis management is commonplace • Japanese proverb: Vision without action is a daydream. Action without vision is a nightmare. • Labor-management relations are often adversarial • Long-term goals are non-existent • Communication is reactive, often an after-thought • The greatest mistake about communication is the belief that it has been accomplished – George Bernard Shaw

  4. Strategic Planning Characteristics • Clarity of vision • Conviction of purpose • Constant work and perseverance • Collaboration with key stakeholders • Communication again and again

  5. Clarity of Vision • Begin with Education • The educated differ from the uneducated as much as the living do the dead. Aristotle • Invest time in creating a vision • If you don’t know where you are going, any direction will do. Alice in Wonderland • Expressed in writing • Mission Statement: A long, awkward sentence that describes management’s inability to think clearly. Scott Adams (Dilbert) • Shared with and supported by others • The great impediment to action is not discussion but the want of that knowledge that is gained by discussion, preparatory to action – Pericles • Reviewed / updated again and again

  6. Convictionof Purpose • Individual / Organizational • Recognition of resource commitment • Belief in impact (financial / personnel) • Mutual agreement on expected outcome • Understand evaluation methodology • Wedded to outcome, not program

  7. Constant Work and Perseverance • Recognize that: • Habits are not acquired or changed quickly • True for individuals / more so for organizations • Rarely a quick fix • Investment up front yields benefits long term • Start simple • Aim for early / easy successes • Focus on critical few, not trivial many • Anticipate obstacles / frustration / set-backs

  8. Collaboration • Identify internal / external stakeholders • Include stakeholders in process, especially early • Understand stakeholder information needs / variance • Never hoard information • Balance stakeholder concessions • Reward / acknowledge contributions • Use successes as stepping-stones to other initiatives

  9. Spectrum of Change Issue/ Problem Research/ Data Gathering Develop Options Evaluate/ Recommend Develop Action Plan Survey- Internal/ External Communicate/ Implement

  10. Spectrum of Change Why Change is Difficult/Often Fails Issue/ Problem Research/ Data Gathering Develop Options Evaluate/ Recommend Develop Action Plan Survey- Internal/ External Communicate/ Implement

  11. Program Characteristics – Questions to Ask • What low / no cost programs can employers consider? • What programs will add value for employees? • How can programs continue to attract / retain workers? • Employer responses will determine strategies

  12. Overview of Presentation No / Low Cost Programs • Defined Contribution Plans – 401(k) / 403(b) / 457(b) • Telecommuting • Flex Time (work days / work weeks)

  13. Defined Contribution Programs • How many employers have gone to RFP in last 10 years? • How many have a sole provider? • How many know what average fees apply to their plans? • How many know of / belong to NAGDCA? • Changes in industry benefits and services: • Fee reductions • Fund improvements • Better education / guidance / advice • Managed accounts / asset or time based funds • Customized websites

  14. Defined Contribution Programs • Changing landscape of Defined Contribution plans • Legislative / regulatory changes in managing plans • Small Business Job protection Act • Economic Growth and Tax Relief and Reconciliation Act • 2003 comprehensive regulatory changes • Pension Protection Act • Must manage plan as trust (ERISA-like requirements) • New Changes (fee disclosure / Roth 457)

  15. Defined Contribution Programs • New responsibilities / greater cost to manage • Plan assets pay for plan responsibilities • Legal fees • Consultant fees • Educational fees • Administrative expenses • Development of budgets • Incorporation into RFPs or renegotiation of contracts

  16. Defined Contribution Programs • How many employers have recently reviewed fees? • Example of fee reductions • Employee with $25K and 35 career years • 7% return and .5% in fees = $227,000 • 7% return and 1.5% in fees = $163,000 • 1% in fee difference reduces account balance at retirement by: • 28%

  17. Defined Contribution Programs • How many employers annually review fund performance? • Fund performance characteristics • Share class • Sharpe ratios • Morningstar ratings • Fixed stable value fund returns / underlying assets • Implementation and monitoring of asset / target date funds • CDSC and other fees

  18. Defined Contribution Programs • Non fund plan enhancements • Service characteristics: • More frequent / improved on-site programs • Customized websites • Robust educational programs (face-to-face / online / tutorial) • Free or low cost investment advice services • Provider managed special services (Unforeseen Emergencies, Loans, QDROs, Catch-ups) • Plan document maintenance • Performance standards and guarantees • Financial planning

  19. Defined Contribution Programs • Educational services for trustees • NAGDCA • International Foundation of Employee Benefit Plans • On-site training (consultant / provider / other) • Development of budget

  20. Telecommuting • Telecommuting • Working from remote location (home / office) • Advantages to employer • Reduction of office space / cost ($300,000) • Improved employee productivity • Enhanced workforce morale • Reduction of impact on community transportation • Challenges for employer • Supervision (observation vs. performance outcome) • Telecommuters peers • Development of program metrics • Assessing occupations suitable for telecommuting • Recognizing departmental differences • Determining equipment usage • Liability policies (workers’ comp)

  21. Telecommuting • Advantages to employee • Reduced transportation time / cost • Convenience of at-home work • Challenges to employees • Blurring work / home • Redefining relationships with supervisor / peers • Absences of professional / social networking • Preparation for telecommuting activities

  22. Telecommuting • Preparation for Telecommuting Program • Development of clear policies / expectations • Determining length of telecommuting • Provision of training • Telecommuter • Non-telecommuter • Supervisor • Clear evaluative metrics • Establishment of work activities / objectives

  23. Telecommuting • Available Material: • Telecommuting Agreement • Enrollment Form • Telecommuting Policy / Procedures • Safety Checklist • Telecommuting Schedule • Checklist for Supervisors • Work Agreement • Supervising Telecommuters

  24. Flexible Time Arrangements • Changes to work • Week (4-10s / 9-80s) • Hours (early / late shifts) • Work relationships (work / sharing programs) • Advantages to employer • Modification of hours of operation for customers • Impact on workforce morale / productivity • Potential impact on office space / cost • Challenges to employer • Determining suitable occupational categories • Defining eligibility criteria • Sharing equipment

  25. Flexible Time Arrangements • Many of the same advantages / challenges • Possible recipients / eligibility / metrics • Clarity of objectives / desired outcomes • Development of metrics before initiation

  26. Programs • All areas of programs represent: • No / little cost to employer • High value to employee • Differentiator for attracting / retaining employees

  27. Contact Information • Paul Hackleman • SST Benefits Consulting • paulhackleman@sstbenefits.com • 650-576-7125

  28. Questions? Notes: ________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

  29. Presentation • To download this presentation and the telecommuting handouts go to: • www.tampaiscebs.org Thank you for attending!

More Related