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In addition to being one of the 2008 NorthCoast 99 winners and requesting to be considered for this award, all finalists for the Compensation & Benefits Special Category Award must meet the following criteria before being considered for the award:
- They all offer their employees the following benefits:
- Health Insurance
- Dental Insurance
- Vision Insurance
- Prescription Drug Plan
- 401(k), 403(b), or Pension Plan
- Bereavement Leave
- At least two support benefits
- At least three flexible scheduling options
- They all have a pay for performance compensation philosophy
- They all review their compensation structure at least annually
- They all provided their employees with an average pay increase of 3.0% or above in 2007
- They all target their pay at or above market levels
- 100% of their employees are eligible for incentive pay based on individual performance or group/team performance
- They all provide their employees with annual total rewards statements
Winners are chosen based on the company that demonstrates the most unique and innovative practices aimed at attracting, retaining, and motivating top performers.
Compensation & Benefits Winner & Finalist Summaries
Compensation & Benefits Winner: Malone Advertising
Unique to this company: Malone Advertising offers a variety of perks, benefits, and generous incentives to its employees. Its LIFT program (Little Initiatives & Fun Things) focuses on giving back to employees and includes monthly gatherings to enjoy things such as a chili cook-off, hot dogs, ice cream sundaes, enables staff to socialize with their extended family really builds respect, trust and camaraderie among peers. It also sponsors a child-care program that subsidizes employees $100/month, provides employees 15 paid holidays (equivalent to 3 weeks of time off), gives its employees quarterly massages, offers discounted/subsidized life screenings offered to employees and family, and offers employees discounts on products/services from Ford, AT&T, Verizon, Apple, Hyatt hotels. In addition to paying employees at or above market pay rates, Malone Advertising gives back a percentage of its operating profits to employees in the form of bonus payments, the average bonus being 13% in 2007. An additional reward program gives employees the opportunity to work on teams to win prizes to include all expense paid trips anywhere in the US, a patio grilling station, big screen television, digital camera and team dinners.
Compensation & Benefits Finalist: Summa Health System
Unique to this company: Every benefit-eligible employee participates in an incentive program at this organization and is eligible for a payment depending on several outcomes based on financial, quality and patient satisfaction measures that focus employees on reaching important goals. Summa Health System offers an array of pay-for-performance programs that fit the needs of their large and diverse workforce that cannot be rewarded or paid out in the same ways or according the same criteria. The Performance Plus Plan provides an incentive plan for all employees that enhances their retirement income. The Management Incentive Plan is offered to all management employees and tied to financial performance, patient satisfaction, employee satisfaction, and clinical quality. A Perfect Attendance Incentive has been used to reward employees with excellent attendance records. The Courier Bonus Program is designed to reward couriers for outstanding customer survey scores, strong attendance records and timely delivery for designated runs. Nursing Extra Hours Bonuses are awarded to RNs and LPNs who agree to pick up additional shifts and/or hours and receive incentives based on hours worked when staffing levels are low. Homecare Performance Incentives are offered to employees within the organization's HomeCare division, based on productivity. The Medical Transcription Pay Per Line Program provides incentive to medical transcriptionists based on production and number of lines transcribed. The Caring Award Program is a system-wide recognition program allows employees the opportunity to nominate outstanding employees or managers for job performance, patient and customer service, relationships with peers and managers, continuous improvement and compassion shown to patients. These are just some of the Summa's incentive programs. In addition to system-wide programs, Summa Health System offers departmental and incentive programs to give managers the ability to recognize their staff for reaching or exceeding specific departmental goals and objectives.
Compensation & Benefits Finalist: The Shamrock Companies
Unique to this company: The Shamrock Companies has instituted a 12 month rewards programs entitled SS Shamrock involving every employee in the company. The purpose of the program is to communicate the role of importance that each employee has in the company and the benefits they receive when the organization maintains its status as a strong growth company. Employees who use the organization’s peer recognition program (Raving Fan Feedback or RFFs) are automatically entered into the weekly contest for a weekly reward. Employees can submit standard RFFs to recognize acts that contribute to the company’s success or to submit ideas that will help the organization reach a 90 million sales goal. Up to three winners are chosen each week and stamps are awarded based on RFFs. If an employee collects five stamps in a week, they receive a floating holiday. On a quarterly basis, the employee with the most stamps wins a weekend trip for two to surprise destinations and annually, each employee who has received stamps throughout the year will be entered into the grand prize drawing: a 7 day cruise for two. Every stamp earned counts as an entry into the drawing. In addition, the Shamrock Companies offers an additional percentage bonus reward of up to 100% depending on what sales goals are met.
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