Article Check - Business

Taking the Sting Out of Employee Evaluations
Employee evaluations serve an important purpose. They let both the employee and the company know how things are going. Ideally, they offer feedback, guidance and recognition; too often, though, they become just another drudgery and serve no real purpose. Here are some ways to improve the experience for both sides.For the Supervisor.1. The number one rule is that an employee must never be surprised by his or her evaluation. Good managers deliver evaluations regularly by praising areas where the employee excels and offering guidance and instruction when the employee falters. It's not fair to your staff to keep them in the dark about their work performance and then spring it on them once a year.2. Keep a written record on each employee. It doesn't have to be fancy, just a folder where you can jot down notes when Sally does something exceptional or when you have to discuss Bob's tardiness. Keep copies of any "attaboys" your staff gets, too. It's easy to forget things that happened eleven months ago and then end up basing the evaluation on the work of the past month.3. Never criticize an employee's performance without offering some corrective action. If you are going to grade someone down in "interpersonal skills", make sure you offer con

ave similar financials to the organization seeking the data, can also be targeted for some of the more interchangeable positions (Chief Financial Officer, General Counsel, etc.), but this data should be used more cautiously.

Published surveys provide for a readily available, often cost-effective means by which to collect data. Although the data is not always presented in a format that allows for a definitive match to the organization seeking comparator numbers, published surveys provide a good starting point for the collection of data. Form 990s, on the other hand, provide actual compensation data against which to compare the organization’s pay package and can serve to validate the findings from the published surveys. Relevant data can be found within Part V-A — Current Officers, Directors, Trustees, and Key Empl

Using Influence To Get What You Want
The Law of Social Proof. The Law of Authority. The Law of Contrast. Do these terms mean anything to you? They will in a moment!You won't find these laws in your country's Constitution or legal writings, but whether you realize it or not they affect your life every day. That's because these laws are being used to influence your thoughts and actions all the time, without your even realizing it.We all know, of course, that the advertising industry is constantly "pushing our buttons" --- that's how they persuade us to buy the goods and services they are selling. We accept that. Sometimes we are aware of the tactics and consciously decide whether or not to respond, but for most of the time we're oblivious to them. We simply react, and very often with the desired response --- THEIR desired response!These laws are psychological laws, and they work because we human beings are remarkably predictable. We may be different from each other in our personalities, our backgrounds, our belief systems, our characters and other ways, but our basic human psychological responses are surprisingly similar.So advertisers and other promoters have found ways to use these psychological laws to shape our behavior. But why leave this advantage just in the hands

Satisfying the ‘rebuttable presumption of reasonabess’

An ECS reader recently asked about where to find reliable data that can be used to compare non-cash compensation among executives within the not-for-profit (NFP) sector: Compensation Committees need to evaluate this component of the pay package for purposes of satisfying the “rebuttable presumption of reasonableness” under Section 4958 of the Internal Revenue Code. In this article, ECS Editorial Advisory Board member Paul Dorf identifies a number of potential sources – Ed.

The analysis of executive compensation within the not-for-profit organization(NFPs) is relatively systematic in its methodology. The IRS allows for the use of for-profit and not-for-profit compensation data to determine reasonable pay, based on the evaluation of comparably situated organizations. The first question of determining reasonable comparisons isn’t difficult per se, but it does require some thought on the part of the Compensation Committee and the organization’s top management.

There are a number of criteria to consider, including the characteristics of the organization (foundation, health care, public charity); the organization’s current financial condition and over financial stability; the geographic area in which the organization operates; and the scope of the position for which data is sought.

Once these criteria have been defined, compensation information can be sourced from the following materials:

· Published compensation surveys that provide data on the not-for-profit industry, either specifically or with specialized cuts

· Compensation surveys that cover for-profit participants, but with cuts that delineate compensation data specific to the organization

· Form 990 data from a representative group of comparably situated not-for-profit peer organizations, that fit the criteria listed above

· Proxy data from a group of comparably situated, for-profit organizations that also compare on the criteria listed above. This method, however, can only be used in very limited situations, and when utilized, must be evaluated cautiously so as not to over-inflate the overall assessment of market compensation

A Thorough Evaluation

Identifying a group of peer organizations requires a thorough evaluation of the characteristics of each organizations targeted for comparison. The first step in this process is to consider direct competitors for services: For example, if a mental health provider located in the New York metropolitan area was seeking to identify peers, the organization would target similar providers within a reasonable radius of its service area, with those providers having similar financials to the organization. This provides the most relevant comparator data for determining reasonable market compensation for an organization’s positions. In addition, other not-for-profits in the overall industry sector that may compete for the same talent can also be targeted. Using this same example, crisis centers, hospitals, primary care providers, etc. can also compare to a mental health facility, since the talent needed to mange one of these organizations is generally transferable to any of the others. Lastly, NFPs that don’t otherwise compare from an industry/service standpoint but have similar financials to the organization seeking the data, can also be targeted for some of the more interchangeable positions (Chief Financial Officer, General Counsel, etc.), but this data should be used more cautiously.

Giving out Free Bonuses, your Pathway to Success
Giving out Free Bonuses, your Pathway to SuccessDon’t you feel good when someone gives you something free for making a purchase? Doesn’t it make you feel great about the product when you get an additional something besides what you actually paid for? Well, most people feel that way as well. This shows what a great way it is to add to your customer satisfaction by just throwing in a free gift or bonus. Further more, some people might even purchase your product when they see the huge assortment of gifts and bonuses you are offering, some even with no intention to use your original product in the first place! This greatly increases the perceived value of your product and hence increasing sales.This approach works because of the way we think and act. Everyone in today’s world competitive wants something for “free”. It makes us feel good, like we have managed to grab a really good deal for ourselves and hence we are more likely to purchase a product which comes with free gifts, especially free gifts with a high perceived value. A great example of these will be digital products (which you of course already have the proper distribution rights to). This is usually enough to get your customers to whip out their credit cards and order. On the flip side, by

anizations. The first question of determining reasonable comparisons isn’t difficult per se, but it does require some thought on the part of the Compensation Committee and the organization’s top management.

Once these criteria have been defined, compensation information can be sourced from the following materials:

· Published compensation surveys that provide data on the not-for-profit industry, either specifically or with specialized cuts

· Compensation surveys that cover for-profit participants, but with cuts that delineate compensation data specific to the organization

· Form 990 data from a representative group of comparably situated not-for-profit peer organizations, that fit the criteria listed above

A Thorough Evaluation

GAME Your Way to Greater Productivity
There are many events outside of the workplace that can negatively impact workplace productivity. A major holiday and major sporting events (like the Super Bowl, World Cup or NCAA Basketball Tournament) are a few of these possible distractions.As people begin to think about, talk about and focus on these events, their focus may leave their work. Think about it: how many tournament brackets are filled out on office time? How much Christmas shopping gets done online at the office every year?This change of focus can lead to significant losses of productivity. As leaders we can’t remove the distractions – the events will still occur. Our job instead is to do what we can to recognize and take advantage of the situation however we can.I suggest the GAME approach to maintaining focus and productivity in the face of these outside distractions. Let me explain.G – Gauge the real level of interest.A – Acknowledge the potential distraction.M – Motivate employees by maintaining high expectations through this time.E – Enjoy the opportunity to connect with your employees.Let’s look at each of these strategies in a bit more depth.Gauge the Real Level of Interest. Don’t assume that

rofit participants, but with cuts that delineate compensation data specific to the organization

· Form 990 data from a representative group of comparably situated not-for-profit peer organizations, that fit the criteria listed above

A Thorough Evaluation

Identity Theft Prevention Tips
It is scary to think about just how vulnerable each of us is in regards to identity theft. You may find yourself thinking about it once your wallet or purse has been lost or stolen. Anyone who has it can access your credit cards, PIN numbers, and social security numbers if they are in there. Other methods of getting such information include over the internet, the phone, watching people when they use an ATM, and going through other people’s trash.Protect yourself from Identity TheftMonitor your credit report because fraudulent activities will show up there. Make sure you look into any questionable activities that you find on your credit report. You can get free copies of your credit report from the three major credit reporting agencies - Equifax, Experian, and TransUnion. Each one has to legally give you one free copy per year.Make sure you keep a list of all your passwords, bank account information, credit card numbers, social security numbers, and other personal information in a very safe place in your home. If your information is lost or stolen you have a quick way of being able to contact the issuers of the financial information. You should also contact the three credit reporting agencies so that they can put an alert on your acc

ental health provider located in the New York metropolitan area was seeking to identify peers, the organization would target similar providers within a reasonable radius of its service area, with those providers having similar financials to the organization. This provides the most relevant comparator data for determining reasonable market compensation for an organization’s positions. In addition, other not-for-profits in the overall industry sector that may compete for the same talent can also be targeted. Using this same example, crisis centers, hospitals, primary care providers, etc. can also compare to a mental health facility, since the talent needed to mange one of these organizations is generally transferable to any of the others. Lastly, NFPs that don’t otherwise compare from an industry/service standpoint but have similar financials to the organization seeking the data, can also be targeted for some of the more interchangeable positions (Chief Financial Officer, General Counsel, etc.), but this data should be used more cautiously.

Shock in the Workplace
A shocking 80% of Americans all have something in common. Can you guess what that is? They hate their jobs! Imagine this scenario. It’s 6:00 A.M. The alarm clock starts its Incessant buzzing. How many people do you know jump out of bed excited that they are going to work that day? Why should they be happy? Here’s what they face. Their job actually starts with the process of getting ready for work. No pay of course. Personal grooming, eating that important first meal. Locking up and making sure the home front is secure. Dropping the kids off to school or the babysitter. Then the dreaded commute. Have you noticed no one in the other cars is smiling? There are the miles and miles of road construction and all the early morning accidents to contend with. Of course, we might as well throw in the having to stop for gasoline. Nothing like spending $30.00 or $40.00 before work to make your day.Finally, arriving at the workplace, no place to park. Since you are probably running late, now you’ve got to make a mad dash to get into work before you are actually late late.Now the fun starts. You get to work all day and listen to all of your co-workers complain about the job.ave similar financials to the organization seeking the data, can also be targeted for some of the more interchangeable positions (Chief Financial Officer, General Counsel, etc.), but this data should be used more cautiously.

1. Column (C) reports salary, fees, bonuses, and severance payments paid, as well as current-year payments of amounts reported or reportable as deferred compensation in any prior year.

2. Column (D) includes all forms of deferred compensation and future severance payments (funded and unfounded, vested and non-vested, qualified and non-qualified), as well as payments to welfare benefit plans (medical, dental, life insurance, severance pay, disability) on behalf of the officers, etc. The IRS allows for reasonable estimates to be used if precise cost figures are not readily available. Deferred compensation, such as salaries and other compensation earned during the period covered by the return but not yet paid date the organization files its return - is also reported here, unless the amounts were reported in column (C).

3. Column (E) includes both taxable and nontaxable fringe benefits (other than de minimis fringe benefits), and expense allowances or reimbursements that the recipients must report as income on their separate income tax returns. This includes payments made under indemnification arrangements, the value of the personal use of housing, automobiles, or other assets owned or leased by the organization (or provided for the organization's use without charge), as well as any other taxable and nontaxable fringe benefits.

Form 990 Challenges

In theory, the compensation information disclosed in the Form 990 filings of not-for-profit organizations represents a true and accurate depiction of the elements of compensation that comprise each named executive’s total compensation package. However, many NFPs have had trouble completing these forms correctly. While Columns (C) and (D) are relatively straightforward, experience has shown that some organizations don’t accurately disclose the value of fringe benefits and non-cash compensation, which makes a true calculation of market compensation less likely. Some other challenges in obtaining data from 990s include:

· Effectively define which other NFPs represent a “peer” of the organization seeking data from the operational and/or financial standpoint.

· Actually obtaining Form 990 copies. Generally, requests for Form 990s can be made to the Internal Revenue Service and/or the organization itself, but you should expect a significant waiting period, assuming that the forms themselves are even available.

· Determining which positions disclosed in the Form 990 match the “incumbent position” for which data is sought, since only titles are provided in the filing. It’s expected that better, more accurate and certainly more timely information will soon be available as electronic filing becomes more commonplace (as per IRS reporting requirements).

Focusing On Non-Cash Comp

Assuming that all cash compensation elements are reported accurately (base salary, bonus, deferred compensation, etc.), how then can accurate data be obtained for non-cash compensation? Ideally, if public disclosure of compensation data for not-for-profits mimicked the requirements set forth by the Securities and Exchange Commission for publicly-traded companies, an accurate assessment can be made. Until that time, however, a more resourceful method must be u

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