Well, I suppose you could say, “it depends.” It depends on whether your company wants to compete for great talent or is fine with whomever it can find. It depends on whether you are trying to develop a high-growth, high-performance culture, or if you’re okay just letting culture issues take care of themselves. It depends on whether you think your people should earn incentives for merely showing up and doing their jobs or if rewards should be tied to value creation. And finally, it depends on whether you believe you can achieve your growth goals by surrounding yourself with individuals who think like employees or if you believe you’ll need those employees to think and act more like growth partners. Assuming you’re open to the idea that your compensation offering may need to do more than it’s doing, this month’s GrowthNotes will help you understand what you can do about it.
Rethinking Total Rewards Strategies
(strategy+business)
Pay, incentives, and benefits haven’t significantly changed for decades, but people’s preferences have. Employee compensation needs a rethink if companies are to attract and retain talent. Read More>
How Has Your Compensation Offering Changed in the Past Two Years?
(VisionLink)
Are your employees still participating in the same pay package your company was offering in 2019—before the lockdown? If so, it could be the reason so many of your people are leaving—or are about to. Employee expectations are changing on rewards, compensation, and benefits issues, and many are exiting their current positions if another company is willing to meet them. Read More>
Pay-for-Performance: How to Motivate and Reward Your People
(Lattice)
Every business wants to inspire its employees to do their best work, and pay is a powerful motivator. Our 2023 State of People Strategy Report found that 83% of HR professionals believe compensation and performance should be linked — yet 72% said their approach needs improvement. Read More>
How to Effectively Link Compensation to Results
Download Our Free Guide
Most company leaders instinctively know there should be a relationship between what they pay their employees and how they perform. Especially key producers. The issue for them is how to do it. If this is a dilemma you face, you should download our free report, How to Effectively Link Compensation to Results.
How do you construct incentives and other compensation plans in a way that improves execution, enhances shareholder value, and creates the right sense of partnership with your employees? What kind of metrics and measures should be incorporated into your incentive plans? How do you effectively balance salaries and value-sharing in your pay offering? This guide answers these and many other questions for which you need answers.
To learn how to more effectively tie compensation to results, download our free report today!
