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P O L A R I S A S S O C I A T E S
Executive Briefing
Winter 2003
Susan S. Palé, Principal
Michael J. Willis, Ed.D., Principal
TABLE OF CONTENTS
·
Welcome
·
Projected Merit Increases At A 5-Year Low
·
Feature Article - Training Without A Training Budget
·
Jobs In Demand
·
Links Of Interest
·
Services & Programs
·
Recent Projects
·
About Us
·
Contact Information
WELCOME
Welcome to the inaugural issue of
Executive Briefing. We hope this newsletter finds you all well and
that 2003 is smiling favorably on you and your organization.
Our goal is to provide you with news on
topics of interest for human resource and business professionals, as well as
hints and tips for doing more with less in these difficult economic times.
We’d love to hear from you. Send us a quick
email or give us a call. We’d like to hear your reaction to our newsletter
and also your suggestions for future topics to address.
Susan Michael
Top of Page
PROJECTED MERIT INCREASES AT A 5-YEAR LOW
Over the last several months, organizations
have completed their forecast of merit pay increases for 2003. The result:
projected raises are the lowest they have been in the last five years, and
are expected to be barely ahead of 2002 actual increases.
The Institute of Management and
Administration (IOMA) conducts an annual survey of organizations across the
US to collect data on projected merit increases. Their projections average
3.6%, only slightly higher that the 3.5% actual expenditure reported for
2002.
The large compensation survey houses report
similar figures. Hewitt Associates reports projected salary increases
averaging 3.9% for salaried exempt employees and 3.8% for salaried nonexempt
employees and nonunion hourly workers. And WorldatWork (formerly the
American Compensation Association) forecasts even lower figures for 2003:
3.2% for salaried exempt and salaried nonexempt employees and 3.3% for
nonunion hourly workers. Check out their full 2002 Salary Budget Survey
Update at
www.worldatwork.org.
Top of Page
TRAINING WITHOUT A TRAINING BUDGET
In these times of downsizing and layoffs, job
descriptions change almost daily and workers are continually challenged to
learn new skills and enhance existing skills. This type of “skill gap” is
a common occurrence when the same amount of work needs to be accomplished
but there are fewer workers to do it.
To further complicate the problem, when the
economy slumps and organizations must tighten their budgets, often one of
the first items to go are training dollars. So how can you, as a human
resource professional, help your organization bridge this “skill gap”
without a large training budget? Here are some suggestions for doing a lot
with a little:
·
Do a needs assessment
– when budgets are tight, there is a temptation to “skip” this phase of the
training process and jump to training solutions to solve problems. The
problem with that approach is that the solution doesn’t always address the
problem. Needs assessments need not be costly – you can conduct an
effective assessment through the use of focus groups, individual interviews,
paper or telephone surveys, and analysis of past performance appraisals.
When the needs are identified and documented, you can then look for
solutions that specifically address the needs.
·
Demonstrate the ROI of
training – training and human
resource professionals often don’t think in terms of the ROI of training,
but that’s the language your CEO and CFO are speaking. Use the simple ROI
formula of benefits minus cost divided by cost to yield the return on
investment. The $60,000 you want to spend on software for your customer
service people will actually save you money if the work can be done with
fewer reps.
·
Spend your dollars in the
right places – now IS the time to
scrutinize your training offerings and expenses and eliminate those that
don’t provide value for the organization. If you’ve performed a needs
assessment as described above, you’ll ensure that you’re getting the best
return on your training dollars.
·
Consider alternatives to
classroom training – we often
assume that classroom training is the only way to meet a training need.
Approaches such as on-the-job training, job aids, coaching, mentoring, and
online instruction can all be effective, and typically cost much less than
developing (or contracting for) classroom training.
Top of Page
JOBS IN DEMAND
Even though your business may not be actively
recruiting new talent right now, once the economy completes its recovery,
you may find yourself competing fiercely for top talent in areas such as IT
and healthcare. The New York State Department of Labor recently identified
the following occupations as “in demand” and “fastest growing” in the
Central New York region. Projections are for the period 1998 – 2008.
Fastest Growing Occupations
Computer
engineers 6.9%
Computer support specialists
5.6%
Computer scientists, not elsewhere classifie
5.4%
Health practitioners, not elsewhere classified
4.8%
Systems
analysts
4.5%
More Info
Occupations with Most Openings
Salespersons,
retail 580%
Cashiers
580%
Clerks, general
office 320%
Teachers, secondary school*
310%
Waiters &
waitresses 310%
More Info
Top
of Page
LINKS OF INTEREST
World at Work – Formerly
the American Compensation Association, World at Work is the leading source
of compensation, benefits and total rewards information.
CareerZone – Developed by the
NYS Department of Labor, you can learn about 1100+ occupations including job
descriptions, wage and salary, educational requirements, and labor market
outlook. The site also has an on-line career assessment tool.
New York State Department of Labor
– Learn about the Occupational Outlook for the CNY Region for hundreds of
job titles including the jobs that are the fastest growing, have the most
openings and are the highest paying jobs.
Top of Page
SERVICES & PROGRAMS
Polaris
Associates specializes in the design and development of human resource systems and
processes for small and mid-sized businesses. We work closely with our
client organizations to assess needs and develop customized solutions to
business challenges. Our consulting services and training programs are
designed and developed to provide value and results. Our services include:
·
Compensation program design and
development
·
Performance management and
appraisal systems
·
Training and development needs
assessment and management
·
Competency-based interviewing
and selection
·
Career development and
executive coaching
·
Outplacement
Top of Page
RECENT PROJECTS
Recent projects include:
·
Design and development of
compensation and performance management programs for a mid-sized
international firm.
·
Development of a performance
management process for local not-for-profit.
·
Long-term consulting contract
with a NYS agency to provide training design and delivery services.
·
Outplacement contracts with
local not-for-profit and national for-profit companies.
·
Coaching assignment with a
senior manager in a NYS agency.
Top of Page
ABOUT US
Dr.
Michael J. Willis is an
experienced consultant, trainer, professional counselor, and business
executive specializing in career management services, compensation and labor
market research, competency and skill assessment, executive coaching, and
training.
He is a graduate of Syracuse University and
holds a Bachelor of Science degree in Management/ Marketing, a Master of
Science degree in Vocational Rehabilitation Counseling, and a Doctor of
Education degree in Adult Studies with emphasis in professional development.
Susan
Palé is an experienced human
resource executive with over 20 years experience in the financial services
industry. She has extensive experience in all areas of human resources,
including compensation, performance management and appraisal, training and
management development, organization development, and staffing and
selection.
She holds a Bachelor of Arts degree from
Arizona State University and a Master of Science degree from Rochester
Institute of Technology where her areas of specialization were Organization
Development and Instructional Technology.
Top of Page
CONTACT INFORMATION
Polaris Associates
·
Dr. Michael J. Willis,
Principal
·
Susan S. Palé, Principal
2833 East Genesee Street
Syracuse, New York 13224
315.446.6093
Top of Page
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