Somerset ACP April Webinar Covered Employee Comp Plans

In April’s Webinar Ken Hedlund cover Contractor Performance-Based Incentive Compensation Plans

More companies are getting away from purely subjective incentive plans and moving towards performance-based plans. This is best practices and, after all, shouldn’t you reward your highest performers? The presentation included an accountability model and integrates the concept of “what you measure you can manage.” We reviewed a sample plan design considering a corporate funding formula as well as proven performance measurement concepts utilizing Critical Success Factors and Key Performance Indicators–all with practical application to the construction industry. Somerset discussed sample tools used in the design, implementation and administration of such plans. The use of such a plan will drive desired results and ultimately maximize return on investment.

In the first webinar, February 22010, Ken Hedlund guided participants through Retooling for the Recovery.

We discussed what can be done today to make your company stronger now and better positioned for the industry recovery. We provided operational and financial strategies for navigating an economic downturn, working with banks and sureties, improving your balance sheet, right sizing, maintaining profitability, maximizing cash flow and more. We presented ideas for consideration to maximize the potential for your organization to maintain financial stability now and be poised to thrive with the recovery.

In the March Webinar we covered 30-60-90-120 Day Cash Flow Risk Management in an Unstable Market

One of the primary reasons many businesses fail is their inability to meet financial obligations as they become due, caused by limited cash resources. No matter how sophisticated your business’s processes, if your business runs out of cash, it will cease to exist. Yet, surprisingly, many businesses do not have a cash flow plan. If they do, it’s often an annual projection done to accompany a bank loan renewal or application. This webinar incorporated the use of software to illustrate that a business with net profits can still suffer cash flow difficulties. It explored various methods for improving cash flow and looked at how cash flow can be managed by planning and monitoring on an ongoing basis. The presenters Ken Hedlund and Howard Cox shared methods to increase cash flow and anticipate cash needs and provided participants with the tools needed to minimize risk and maximize cash flow.

The final webinar in this series will include Economic, Banking and Surety Update and will be held on Tuesday, June 1, 2010 11:30 a.m. to 1:00 p.m. (Eastern) – Presentation / 1:00 p.m. to 1:30 p.m. – Open Q&A At the time of this presentation, we will be well into the second quarter. 2010 real time data on industry performance and outlook will be presented by Somerset and other industry experts. We will review current economic data and indicators, provide an update on the surety and banking industries outlook and practices, plus assess the ever-changing landscape of the political environment and any significant tax updates.

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