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"Sorry, No Raise This Year" - How to Handle Pay Reviews in a Tough Economy

December 4 , 2008
2:00 - 3:30 PM Eastern Time


In this tough economic environment, many workers will not get normal raises this year. Some may get nothing. In extreme cases, base pay may actually need to be reduced. This means, obviously, that bosses at your company are going to have some excruciatingly difficult salary reviews.

Are your managers and supervisors up to the task? Do they know how to effectively communicate the message that, "We love you, you're doing a great job, but we can't even give you cost-of-living this year"?

Fact is, most employees equate their self-worth with their compensation. If your supervisors mishandle these extraordinarily delicate salary reviews, they could destroy morale, sap productivity and erode retention rates. Even worse news: It's your best people, not your average employees, who will become most disillusioned if their pay expectations aren't met.

But don't panic. Supervisors can easily be taught to handle tough pay reviews effectively. In this 90-minute conference, performance management expert Gary Markle will offer supervisors a powerful conceptual framework for discussing salaries rationally and draining the drama from even the toughest pay review. He will explain:

  • Where salary increases really come from.
  • The three factors that determine who will get raises, and how much.
  • Which of these three is the "knockout factor" that comes into play in tough times.
  • Five essential leadership actions to take when freezing or cutting salaries.
The single MOST IMPORTANT skill that helps great managers maintain high morale when money is tight.

Best news: The framework and tools discussed in this conference will help participants handle salary reviews in good times as well as bad.

Learning Objectives:

  • I've got to pay the bills today! How do you expect me to live without a raise?
  • I'm a star performer. Last year I got a 10% raise. Why should I accept only 3% this year?
  • I know I’m not management material, but does that mean I’m stuck with cost-of-living salary increases forever?
  • I'm a 25-year-old engineer and I do the exact same thing as a colleague who’s 50; how come she makes more?
  • Why did I only get 80% of my bonus instead of the whole thing?
  • Why does that guy who reports to me make more than I do?
  • Everybody knows what everybody else makes around here. How come I didn’t get as big a raise as the guy in the cubicle next to me?
  • Am I ever going to make as much in this job as my brother makes in his?
  • I didn't get my bonus because there was no way I could influence results; Why did you set it up that way?
  • This team bonus idea is unfair. I did great but all those slackers on my team caused me to lose out.
  • I'm know I'm working offsite three days a week this year, but why did you decrease my salary? I do the same amount of work.

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Presented by:
Gary Markle
Founder & CEO
Energage, Inc.

Gary Markle, CEO of the consulting firm Energage, Inc. Mr. Markle's book "Catalytic Coaching: The End of the Performance Review," has been on Amazon.com’s top-5% list for over 36 consecutive months. His work has been favorably reviewed in the Atlanta Business Chronicle and he's been interviewed and quoted in The Wall Street Journal, Fast Company, and Detroit Free Press. Mr. Markle is the founding chairman and long time member of Vistage (formerly known as TEC or The Executive Committee), a CEO think tank. He is also the 2005 TEC Canada Speaker of the Year.

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Registration:
Event + CDRom + Transcript (PDF) + Audio CD: $429.00
CDRom + Transcript (PDF) + Audio CD: $349.00
CDRom Only: $247.00
Event Only: $249.00
Audio CD Only: $229.00
Written Transcript Only: $228.00

Questions About this AudioConference CD? Call 1-800-431-7571




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Continuing Education

This program has been approved for 1.5 recertification credit hours toward PHR and SPHR recertification through the Human Resource Recertification Institute (HRCI). Please note: HRCI credit is earned only by attending the live conference. CD only purchases do not qualify for HRCI credits. For more information about certification or recertification, please visit the HRCI homepage at www.hrci.org.