Columbus Compensation Association
September Afternoon Meeting
Pay for Performance
Presented by Lori Wisper, Managing Director, Willis Towers Watson
Virtual; webinar details provided after registration
3:15 pm - Virtual Lobby opens
3:30 pm - Announcements and Speaker/Presentation
Event is FREE to members; non-member cost is $20
“Pay for Performance (and how to do it better) has been a topic of debate for quite some time. The concept originated in the mid-1970s at a time when general increases were double digits and given as a matter of employment. Notably, at that time, very few employees below the executive level were eligible for short-term incentives/bonuses. Fast forward to 2021 and what we have learned about how pay for performance works (or doesn’t) now. What have we learned in the past decade about pay for performance…can it work in a rating-less environment? Does it help or hurt paying all employees equitably? What happened during the Pandemic – how did unpredictable levels of performance impact our pay for performance processes? What should organizations consider in their efforts to truly impact performance through more effective pay decisions and more empowering pay discussions.
All these topics will be discussed by Lori Wisper, Managing Director at Willis Towers Watson and a leading expert on Pay for Performance at our session on September 23rd at 3:30 p.m. Be sure to save the date if you want to hear about the latest thinking on P4P!”
Managing Director and Rewards Line of Business Leader, Willis Towers Watson
Lori Wisper is a Managing Director in Towers Watson’s Talent and Rewards Segment, and she currently leads the Rewards Line of Business in the Chicago market. She has over 30 years of experience both in consulting and corporate HR, primarily focused on Compensation. She has consulted with clients on broad based compensation issues including global compensation strategy and design, total compensation strategy, incentive plan and base salary design, pay for performance strategy, performance management and compensation processes and administration.
In addition to consulting experience with two other national compensation consulting firms, Lori spent five years working as the Director of Global Compensation within the corporate HR function of several companies. The combination of strategic thinking, technical expertise and practical experience has enabled her to advise companies on how to effectively design and implement new reward programs, processes, and technologies. Prior to coming to Towers Watson, she was the Director of Global Compensation for Discover Financial Services and for Underwriters Laboratories Inc. Some of the projects and initiatives that Lori has led include:
· Setting global compensation strategy and pay philosophy along with the creation of a global career banded salary structure and global annual incentive plans.
· Leading the HR related aspects (compensation, benefits and HRIS programs) as Project Manager for the spinoff of a major division of a Fortune 100 company.
· Global sales compensation framework that consolidated 14 diverse sales compensation plans into one globally consistent framework.
· Developing and administering international assignment policies, international relocation policies and negotiation and creating offer letters for international positions.
· Working with executives and other business leaders to design annual incentive plans and other variable pay plans directly tied to business strategy.
· Redesigning salary structures and supporting salary administration programs (including performance management systems) to better support business and human capital strategies; and
· Developing and delivering compensation related speeches, training, and education sessions.