Creating a Balanced Rewards Approach

Watch Recording:

How do you determine the right blend of salaries and incentives in your pay strategy? Some believe that paying higher salaries attracts the best people, and therefore improves company performance. Others believe employee earnings should be tied to results, so they emphasize variable pay. So, is one right and the other wrong?

Obviously, there is no universal “right” way to pay employees. Instead, you must find what works best for your organization. So, how do you do that?

That is the question this webinar plans to answer. We will discuss 3 principles for determining the right rewards balance for your company and how they can be used to resolve the higher salary versus bigger incentives dilemma.  

In this broadcast, you will learn:

  • Why you must first identify the kind of talent you want to attract and retain before you can determine the best rewards approach.
  • How to formulate a compensation philosophy statement and why it makes all your pay decisions easier.
  • Why you must have a clear value creation definition before you can decide whether offering higher salaries or bigger incentives is better.
  • What top talent is looking for in a pay offer and how that should influence the development of your pay strategy.
  • Why the current business development “stage” your company is in matters in developing the right rewards approach.