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Gina Fresolone

What Does Your Payback Agreement Look Like?

Before I get into anything, I think it’s important to note that payback agreements vary widely. Every company approaches the payback agreement differently and that can be confusing for HR, senior management and transferees alike.

Key Performance Indicators for Relocation Programs

Not long ago, we released a whitepaper titled, “How to Talk to Your CFO about Relocation.” One of the things we stressed in the piece was the important of honesty – especially when it comes to home inventory costs and risks. We also stressed that strategic HR and relocation managers should be ready to talk numbers. It’s easy to shy away from providing cost estimates to your CFO because you either don’t have them or you don’t want to dissuade buy-in due the expense. This tactic, however, is a sure fire way to breed mistrust. Most CFOs do not want surprises.

Payback Agreement Best Practices

Lately, we’ve been getting a lot of questions about payback agreements. We have chatted in the past here about whether or not payback agreements work, but we haven’t really discussed best practices in depth. We do recommend payback agreements for employers as a means to protect them against major financial losses should a transferee resign before the contracted period is up. But, from an industry perspective, we were curious about what others do. We tapped the Worldwide Employee Relocation Council’s knowledge center and here’s some of the relevant info that we found.

When to Make an Exception the Rule

The increase in exceptions over the past several years is a good indication of the pressure employers are feeling to address the concerns of skilled talent. Unfortunately, over time, managers and previous transferees often share commonly granted exceptions with new transferees as if they are a staple of the program. Consequently, unexpected relocation expenses start to spring up frequently.

Why Does Succession Planning Go Off the Rails?

This article originally appeared in the March Issue of HR.com’s HR Strategy and Planning Essentials ePublication. 

According to the 13th annual Private Company Governance Survey, administered by the National Association of Corporate Directors (NACD), 90 percent of respondents, which included 841 private companies in the US, believe that a formal succession planning program enhances the effectiveness of a business. However, fewer than 25 percent of those companies actually have a formal plan in place. Moreover, a quarter of survey respondents admit to having no plan what-so-ever and fifty-two percent claim to have an informal succession plan in place.

It’s Complicated

When I first started in HR, the distribution of benefits was pretty straightforward. Employees were either single or married. They checked the box, we filed the paperwork, and everyone went home happy.

Or, at least, we thought they did.

What Does Your Payback Agreement Look Like?

Recently, I read an article written by Suzanne Lucas, AKA EvilHRLady, about how employees should handle payback agreements, especially if they find themselves in an unsuitable position and want to leave. While the article contains helpful advice for transferees – namely, read the payback agreement thoroughly before agreeing to relocation – it also points out that payback agreements vary widely. Every company approaches the payback agreement differently and that can be confusing for HR, senior management and transferees alike.

What are the Characteristics of a Good HR Leader?

How to Move from Administrative to Strategic HRRecently, we published our latest eBook, “Earning a Seat at the Table,” which focuses on moving from administrative HR to strategic HR. The eBook goes over several ideas such as how to build a strong foundation of core competencies, how to acquire intermediate skills to prove your mettle, and striving for greatness. At the end of the content, we leave you with a checklist naming six characteristics of a good HR leader.

Free eBook: How to Move from Administrative HR to Strategic HR

Having spent my entire career moving up the HR ladder at Maersk, I believe very strongly in the HR career path and the value that these positions bring to both organizations and individuals. Now, perhaps more than ever, is the time for HR professionals to shine. Fierce competition, tight budgets, shrinking talent pools and disengaged employees are just some of the significant challenges that businesses are facing today – and there is no sign that these problems will let up any time soon. At some point, the C-suite will have to bring HR in at a strategic level. When they do, you need to be there.

Five Tips for Managing Transferee Performance Reviews

Today, I want to talk about performance reviews. We all know that most companies rely on the data provided by performance reviews for numerous business decisions.  When I was in HR, reviews were a useful tool for succession planning, compensation decisions, recruitment and retention strategies, development initiatives and engagement plans. These issues are clearly very important in the workplace, so we never questioned the need for a robust performance program. The question we did struggle with, however, was how to effectively infuse accuracy and timeliness into the process.

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RICK CALANNI
VP of Business Development Northeast Region

 

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