When the Money Runs Out: Retaining and Motivating Long Term Employees Without Increasing Pay

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About the Host

Michael F. Maciekowich

National Director | Astron Solutions


 

Michael F. Maciekowich is a National Director for Astron Solutions. His areas of expertise include the development, design, and implementation of executive, physician, & employee base pay systems; short- and long-term incentive programs; sales incentive programs; and performance management systems in all industries.  Michael has 39 years of compensation experience.  Michael is an active member of WorldatWork and the Society for Human Resource Management.  Michael received a lifetime achievement award from WorldatWork.  Michael received bachelor’s degrees in political science and philosophy, and a master’s degree in industrial relations, from the Loyola University of Chicago.

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Since the end of the recession, more and more baby boomers have been deferring retirement. The unexpected result is that many employees from this generation are being paid well above market value for their jobs, forcing organizations to cope with serious pay compression.

The situation is further complicated by the flat 3% in compensation budget growth in recent years, resulting in restrictive pay structures and employees moving closer to structure maximums. Not surprisingly, studies from SHRM and WorldatWork indicate increasing employee dissatisfaction over the ways compensation programs are administered and communicated, especially as it relates to those nearing or exceeding maximum job value.

The good news is there are steps an employer can take to boost morale and job satisfaction—particularly among these long-term employees—without the need to increase pay!

In this exclusive webinar, compensation expert Michael Maciekowich, National Director of Astron Solutions, will share his 30 years of compensation expertise as he presents recent research and provides alternatives to the status quo.

During this session you will learn:

  • How to understand the wants and needs of the veteran (1909 – 1945) and baby boomer (1945- 1965) generations in the workplace.

  • How human resources addresses the needs of these generations in the workplace.

  • A comprehensive overview of Astron Solutions’ focus group research.

  • The dilemma of utilizing pay range maximums and why they are needed.

  • Sample alternative, non-salary reward programs, including those considered best practice and those that have failed.
Michael F. Maciekowich

National Director | Astron Solutions


 

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