Presentation on theme: "Compensation. Today’s Agenda Explore Compensation Issues for NESA Schools What is working and what is not? Are there new trends or issues for which you."— Presentation transcript:
Today’s Agenda Explore Compensation Issues for NESA Schools What is working and what is not? Are there new trends or issues for which you should be preparing? Discuss Compensation Philosophy Process
Components of Compensation – Overseas Faculty Hire Salary Tuition assistance Health Insurance Housing Retirement Airfare to home of record Shipping Transportation What else?
4 Human Resource Management HR Personnel Salary Housing Recruitment Transportation Tuition for Kids Handbook
Key Common Challenges - Background Knowledge driven economy Increasing demand for high quality International education Increasing number of schools (China) Expanding schools 5
Key Common Challenges - HR Critical to the success of a school is your ability to reach, engage, attract and retain best global talent Develop best practices in talent management and employee services 6
7 Best Practices Planning for needs Recruitment Hiring / contracting On board – orientation Employment / retention Termination / separation
8 Needs – HR planning Project School growth, student enrollment, revenue expectations Assess internal needs – placement, current updates, new jobs Develop HR plan for recruitment and management Number of overseas vs. local hires Expectation levels
9 Recruitment Develop strategy – compensation benefits Coordination between Director and HR/BO Detail the plan Marketing materials Use staff to sell school, country Recruitment fairs, on-line options Referrals Bonus plan
10 Bonus Plan? Should schools consider a retention or early signing bonus for faculty whose contracts are expiring? What about something to motivate faculty to inform the school if they are planning to leave? Should there be something different for local hire employees? Are there attendance issues? If so, are the policies and procedures in place adequate to handle these situations?
11 Hiring / Contracting Offer letter / letter of intent Standard contract Addendum – specific Contract signing
12 On boarding / Orienting Stay in touch often / Establish a buddy Support travel / relocation plans, housing – end to end Welcome committee, Campus tour Help settle in – furnishing, banking, phones, net, utilities Orientation to operations Assign teacher mentor
13 Termination /Separation Exit interview Review No surprises
Compensation Questions Do we have to pay more for some teachers? - Math, Science, Computer Do we pay less for Lower School? What about collegiality issues with differentiated pay – traditions of equity on campus? Does everyone deserve a raise every year? Is compensation the thing that motivates teachers?
Compensation and Benefits Strategies Market Position Cost per Employee Internal vs. External equity Lead vs. Lag Attraction vs. Retention Seniority vs. Performance Education vs. Skills
Compensation Philosophy Budget Salary & Benefits Organization Mission and Vision Developed by Board and Superintendent Drives Decisions Supports Mission
Why is philosophy important? Operational framework: Leads to compensation and benefits strategy Provides consistency over time Guides decision making Communicates reason for decisions Demonstrates what is important to the school
The philosophy statement is not: Static document The answer to all compensation and benefits questions
Determining Philosophy Classify employee needs. Identify categories of protected persons. What should be rewarded or valued in regard to human capital? What are the school’s employment and retention goals for the next 5 years?
Develop Philosophy Statement What role does compensation and benefits play in the achievement of the school’s strategic plans (financial goals)?
24 Shipping What are the standard arrangements for shipping of personal items for exiting employees? What help is available to the business manager for the logistics? Is there a way for schools to work together to reduce costs?
25 Benefits Health and Dental insurance – what is offered? Is there a cost to the employee? Does it matter if the employee is single / married / family? Retirement plans – end of service benefits. Professional development – what is offered? How is this determined? Is anything required? Travel allowance / summer / holiday / emergencies / bereavement / sick family member / etc.
26 Benefits Tuition remission – is this 100 % / for all children / for all faculty and staff / local and ex- pat? Long Term Disability (LTD) Unemployment insurance – what are the local requirements? Who handles the visas and immigration issues and paperwork?
27 Benefits Is housing provided for all ex-pat employees and families? What is included in this – furnishing / utilities / cleaning / maintenance / etc. Is a vehicle provided for ex-pat employees? What about transportation to / from school / other requirements? Are laptop computers provided for faculty – both local and ex-pat?
Mission & 21 st Century Education Financial Constraints Innovation Your Challenge