7.5 - Reward and retain employees
PCF ID: 10412 | Elements: 19 | Metrics Available: Y | Benchmarkable: 4
Definition
Creating frameworks for rewarding and recognizing employees with the objective of retaining them. Create and manage programs for provision of rewards, recognition, and motivation. Manage and administer the benefits for employees. Help assist and retain employees. Administer payroll to employees.
Overview
This process group covers reward and retain employees within the broader context of Develop and Manage Human Capital.
Process Hierarchy
Processes
| ID | Process | PCF ID | Sub-elements | Metrics |
|---|---|---|---|---|
| 7.5.1 | Develop and manage reward, recognition, and motivation programs | 10494 | 6 | Y |
| 7.5.2 | Manage and administer benefits | 10495 | 4 | N |
| 7.5.3 | Manage employee assistance and retention | 10496 | 4 | N |
| 7.5.4 | Administer payroll | 10497 | 0 | Y |
7.5.1 - Develop and manage reward, recognition, and motivation programs
PCF ID: 10494
Definition: Developing a salary/compensation structure and plan; developing a benefits and reward plan; develop commission plan; performing competitive analyses of benefits and rewards; identifying compensation requirements based on compensation, benefits, and HR policies; administering compensation, commission, and rewards to employees; and rewarding and motivating employees.
| ID | Activity | PCF ID | Tasks | Metrics |
|---|---|---|---|---|
| 7.5.1.1 | Develop salary/compensation structure and plan | 10498 | 0 | Y |
| 7.5.1.2 | Develop benefits and reward plan | 10499 | 0 | N |
| 7.5.1.3 | Perform competitive analysis of benefit and rewards | 10500 | 0 | N |
| 7.5.1.4 | Identify compensation requirements based on financial, benefits, and HR policies | 10501 | 0 | N |
| 7.5.1.5 | Administer compensation and rewards to employees | 10502 | 0 | N |
| 7.5.1.6 | Reward and motivate employees | 10503 | 0 | N |
7.5.1.1 - Develop salary/compensation structure and plan
Definition: Creating the framework for the provision of salary/compensation to employees. Break down the salary structure into different components such as fixed pay, variable pay, bonus, and allowances such medical allowance, and rent allowance, etc. Develop, adjust, and maintain a pay structure.
7.5.1.2 - Develop benefits and reward plan
Definition: Developing a plan for provision of rewards, commission, and benefits to employees. Plan health benefits, retirement benefits, non-monetary benefits, etc.
7.5.1.3 - Perform competitive analysis of benefit and rewards
Definition: Analyzing and evaluating the organization's benefits and rewards plan. Compare/Benchmark the benefits and employees plan with other organizations to adhere to industry standard practices.
7.5.1.4 - Identify compensation requirements based on financial, benefits, and HR policies
Definition: Recognizing the employee requirements for compensation on the basis of the financial, benefits, and HR policies of the organization. Recognize individual compensation requirements regarding the financial policies of the organization. Consider the benefits plan and overall HR policies while selecting compensation requirements.
7.5.1.5 - Administer compensation and rewards to employees
Definition: Managing the provision of compensations and rewards to the employees while maintaining consistency with the compensation and benefits plan. Follow the compensation and benefits plan rigorously in order to avoid any discrepancies.
7.5.1.6 - Reward and motivate employees
Definition: Rewarding and stimulating the performance efforts of employees. Create methods for motivating employees. Spur extrinsic and intrinsic motivation.
7.5.2 - Manage and administer benefits
PCF ID: 10495
Definition: Managing and ensuring benefits enrollment by the employees. Process any benefit claims made by the employees. Balance the estimated amount and entitled amount of benefits.
| ID | Activity | PCF ID | Tasks | Metrics |
|---|---|---|---|---|
| 7.5.2.1 | Deliver employee benefits program | 10504 | 0 | N |
| 7.5.2.2 | Administer benefit enrollment | 10505 | 0 | N |
| 7.5.2.3 | Process claims | 10506 | 0 | N |
| 7.5.2.4 | Perform benefit reconciliation | 10507 | 0 | N |
7.5.2.1 - Deliver employee benefits program
Definition: Implementing the programs that specify employee benefits, other than salary provided, such as those concerning medical care, death, and disability.
7.5.2.2 - Administer benefit enrollment
Definition: Handling the employee enrollment for obtaining benefits. Manage employee enrollment and eligibility. Encourage employees to enroll for benefits.
7.5.2.3 - Process claims
Definition: Processing any formal requests or demands made by the employees claiming that they have earned some benefits. Send the request further up the managerial hierarchy to ensure approval.
7.5.2.4 - Perform benefit reconciliation
Definition: Carrying out reconciliation of benefits delivered to employees. Compare the estimated benefit requirement made by the employee and the actual amount of benefits the employee is entitled to receive.
7.5.3 - Manage employee assistance and retention
PCF ID: 10496
Definition: Managing activities centered around delivering programs to support work/life balance for employees; developing family support systems; reviewing retention and motivation indicators; and reviewing compensation plans.
| ID | Activity | PCF ID | Tasks | Metrics |
|---|---|---|---|---|
| 7.5.3.1 | Deliver programs to support work/life balance for employees | 10508 | 0 | N |
| 7.5.3.2 | Develop family support systems | 10509 | 0 | N |
| 7.5.3.3 | Review retention and motivation indicators | 10510 | 0 | N |
| 7.5.3.4 | Review compensation plan | 10511 | 0 | N |
7.5.3.1 - Deliver programs to support work/life balance for employees
Definition: Designing programs that prompt proper balance between work (i.e., career and ambition) and lifestyle (i.e., health, pleasure, leisure, family, and spiritual development/meditation). Account for dependent care, flexible working arrangements, leaves of absence, on-the-job training, etc.
7.5.3.2 - Develop family support systems
Definition: Creating a support structure that aligns with local and federal laws that allow for support for families. This could include things like maternity leave, care for a family member, or in some cases, extended sick leave.
7.5.3.3 - Review retention and motivation indicators
Definition: Reassessing the indicators for retention and motivation of employees. Monitor the indicators that signal the levels of motivation and retention. Regularly update and upgrade indicators to avoid depreciation and ensure high efficiency.
7.5.3.4 - Review compensation plan
Definition: Analyzing existing compensation plans and making changes necessary to continue to retain employees.
7.5.4 - Administer payroll
PCF ID: 10497
Definition: Managing the sum of all financial records of salaries for an employee, including wages, bonuses, and deductions. Use a payroll management system to deal with the financial aspects of employees' salaries, allowances, deductions, gross pay, net pay, etc. Generate pay slips for a specific period.
Change Summary (v7.2.1 vs v6.1.1)
Changes indicated by:
+XXXXX- New element added-XXXXX- Element removedcXXXXX- Element changedNEW- Newly introduced
Complete Element List with Definitions
All 19 elements
| ID | Name | Definition |
|---|---|---|
| 7.5 | Reward and retain employees | Creating frameworks for rewarding and recognizing employees with the objective of retaining them. Cr... |
| 7.5.1 | Develop and manage reward, recognition, ... | Developing a salary/compensation structure and plan; developing a benefits and reward plan; develop ... |
| 7.5.1.1 | Develop salary/compensation structure an... | Creating the framework for the provision of salary/compensation to employees. Break down the salary ... |
| 7.5.1.2 | Develop benefits and reward plan | Developing a plan for provision of rewards, commission, and benefits to employees. Plan health benef... |
| 7.5.1.3 | Perform competitive analysis of benefit ... | Analyzing and evaluating the organization's benefits and rewards plan. Compare/Benchmark the benefit... |
| 7.5.1.4 | Identify compensation requirements based... | Recognizing the employee requirements for compensation on the basis of the financial, benefits, and ... |
| 7.5.1.5 | Administer compensation and rewards to e... | Managing the provision of compensations and rewards to the employees while maintaining consistency w... |
| 7.5.1.6 | Reward and motivate employees | Rewarding and stimulating the performance efforts of employees. Create methods for motivating employ... |
| 7.5.2 | Manage and administer benefits | Managing and ensuring benefits enrollment by the employees. Process any benefit claims made by the e... |
| 7.5.2.1 | Deliver employee benefits program | Implementing the programs that specify employee benefits, other than salary provided, such as those ... |
| 7.5.2.2 | Administer benefit enrollment | Handling the employee enrollment for obtaining benefits. Manage employee enrollment and eligibility.... |
| 7.5.2.3 | Process claims | Processing any formal requests or demands made by the employees claiming that they have earned some ... |
| 7.5.2.4 | Perform benefit reconciliation | Carrying out reconciliation of benefits delivered to employees. Compare the estimated benefit requir... |
| 7.5.3 | Manage employee assistance and retention | Managing activities centered around delivering programs to support work/life balance for employees; ... |
| 7.5.3.1 | Deliver programs to support work/life ba... | Designing programs that prompt proper balance between work (i.e., career and ambition) and lifestyle... |
| 7.5.3.2 | Develop family support systems | Creating a support structure that aligns with local and federal laws that allow for support for fami... |
| 7.5.3.3 | Review retention and motivation indicato... | Reassessing the indicators for retention and motivation of employees. Monitor the indicators that si... |
| 7.5.3.4 | Review compensation plan | Analyzing existing compensation plans and making changes necessary to continue to retain employees. |
| 7.5.4 | Administer payroll | Managing the sum of all financial records of salaries for an employee, including wages, bonuses, and... |
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