In his seminal work, Stephen R. Covey taught that effectiveness is defined as achieving the desired result. Effectiveness in compensation design is really no different. Pay and rewards programs should drive desired outcomes and fuel business growth. So, how do you do that? What patterns do successful companies follow to develop compensation strategies that accelerate progress and instill a unified financial vision for growing the company? View this webinar broadcast to learn the answers to these and other related questions.
In this webinar, you will learn:
- What outcomes a highly effective pay plan should produce.
- How to develop a pay philosophy statement that makes decisions about rewards both easier and more effective.
- Why a Total Compensation Structure is critical to executing an effective pay strategy.
- The difference between paying incentives and value sharing—and why you want to do the latter.
- How to determine whether or not your approach to pay is “effective.”
- How to set the right priorities in the development of a compensation “gameplan.”