Clue: Define Value Creation

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Perhaps you are among the many business leaders who were forced to confront this harsh reality in 2020: Compensation is expensive—and it can kill cash flow.

This has always been true, but the COVID economy put an exclamation point on just how damaging some pay strategies can be. Companies discovered their rewards plans were highly imbalanced (too heavy on short-term guarantees) and highly inflexible (too short on options for how to pay their people).

So…what now?

Going forward, enterprise leaders need a rewards approach that will lower their compensation risk and cost while producing higher than usual performance results. That’s all. Easy peasy, right?

Not so much. It’s a tall order. In fact, you are likely saying to yourself: “Is that even possible? If so, show me. What’s the trick?”

It is possible—and there is no trick. The solution is to learn how to effectively define and reward value creation. And in this presentation, we will show you how to do both.

By watching this broadcast, you will learn:

  • What it means to define value creation and why your success in the new economy will depend on your ability to do so.
  • How to decide with whom value should be shared and what that value-sharing should look like.
  • What it means to have a balanced pay strategy and why it is key to creating the flexibility you need.
  • How to determine the “job” compensation should be doing for your company and what validates its success (or failure) in that role.
  • How to increase performance rewards while decreasing their impact on cash flow.
  • Why you will need a clear pay philosophy to create buy-in to your compensation offering.
  • Why you must reward both short and long-term performance—and what measures should drive benefits under each kind of value-sharing.

VisionLink has been developing successful compensation strategies for companies in a wide range of industries for over 20 years. We have advised hundreds of business leaders on rewards issues in both good and bad economies.

We know what works. In this broadcast, we plan to share what we’ve learned with you.