article thumbnail

Cafe Classic: The Compensation Cookbook

Compensation Cafe

Editor's Note: Here, for a little midweek fun, we bring you Jim Brennan and his long-awaited, utterly authoritative and instantly gratifying dictionary of compensation decisions. The Compensation Cookbook will solve all your problems. Imagine having the solution to every pay issue in one volume!

article thumbnail

Cafe Classic: The Compensation Cookbook

Compensation Cafe

Editor's Note: In today's post, Jim Brennan serves up his Classic tale of The Answer to our compensation design and practice challenges. . The Compensation Cookbook will solve all your problems. No compensation chef should be without this essential guide to serve up the ideal menu in your café, restaurant, or eatery .

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

4 Tips for Your Compensation Planning from the Banking Industry

HR Daily Advisor

It’s no secret that the recession of 2007/08 resulted in an array of new regulations, especially in the financial services arena. We spoke with Kathy Smith, President of Bank Compensation Consulting to find out how the industry’s highly regulated environment has led to creative compensation solutions—many of which can apply to any industry.

article thumbnail

Variable Pay and Risk Management: Are Mitigation Measures Working?

HR Daily Advisor

“Wells Fargo employees secretly opened unauthorized accounts to hit sales targets and receive bonuses. Today’s actions should serve notice to the entire industry that financial incentive programs, if not monitored very carefully, carry serious risks that can have serious legal consequences.” million unauthorized transactions.

article thumbnail

What Is Evidence-Based HR? Examples, Benefits, and Decision-Making Steps

Analytics in HR

Its HR team employed tools and analytics to better understand the risk pertaining to their numerous incentive plans. Now for a case of how evidence-based HR principles could have saved one employer a great deal of money: The city of New York invested $75 million in incentive payments for teachers in 2007.

article thumbnail

The Best Employee Retention Articles and Resources from Across the Web

ForUsAll

employees are eligible for bonuses four times a year, with biannual salary reviews. The current figure is similar to what Gallup measured in early 2007 before the recession. Quote: “Shutterfly Inc. What causes burnout, how are other businesses and what is there to be done? Currently, 63% of employed U.S. Source: Deloitte.

article thumbnail

6 Employee Rewards Ideas for Blue Collar Workers

Fond

Offering incentives will boost morale, performance, and retention. . Growth incentives are especially important if you’re looking to recruit young people. These incentives can be performance-based bonuses, raises, or formal rewards programs. Monetary incentives motivate workers, and they can come in many forms.