article thumbnail

Rewarding Today's Unsung Heroes: Could a "Viral" Bonus Plan Work for You?

Compensation Force

This post first ran in 2011. While the details on the ground at IGN Entertainment may have changed since then, their inspired peer-to-peer bonus plan brings us a great example of how we might engage employees in rewarding the heroic actions of their peers during our challenging times today.

article thumbnail

Why Every Organisation Needs a Solid Compensation Strategy

6Q

In simple words, a compensation strategy refers to the plan that describes an organisation’s overall benefits and compensation. A compensation strategy typically includes the following: Basic pay: This refers to the initial salary without the benefits, bonuses or raises. An effective compensation strategy begins with proper planning.

Insiders

Sign Up for our Newsletter

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

article thumbnail

Why Every Organisation Needs a Solid Compensation Strategy

6Q

In simple words, a compensation strategy refers to the plan that describes an organisation’s overall benefits and compensation. A compensation strategy typically includes the following: Basic pay: This refers to the initial salary without the benefits, bonuses or raises. An effective compensation strategy begins with proper planning.

article thumbnail

Concerns Surrounding Non-Profit Executive Compensation

Astron Solutions

A 2011 report from the Chronicle of Philanthropy highlighted that the median pay of executives in 132 surveyed charities and foundations increased 3.8% Others even pay bonuses, once rare at non-profits. A previous Astronology® highlighted details to consider when developing a compensation plan for non-profit executives: 1.

article thumbnail

Cafe Classic: 3 Ways to Meet – and Exceed – Expectations

Compensation Cafe

Editor's Note: In today's Classic, Margaret O'Hanlon uses the saga of Toyota's sticking gas pedal recall (circa 2009-2011), which became a case study for (some would say how not to do) crisis management, to examine the intersection of crisis response and performance. . Let’s say, a year when there will be layoffs and no bonuses.

Meeting 40
article thumbnail

New Year, Same Story: 2016 Forecast Is For Another Year of 3% Raises

TLNT: The Business of HR

employees are expected to hold steady in 2016,” and that even though “virtually all respondents (98 percent) are planning to give employees raises next year,” they are “projecting average salary increases of 3.0 More annual, short-term pay incentives. percent in 2016 for their exempt nonmanagement (e.g.,

article thumbnail

How Employee Incentive Programs Can Benefit from Behavioral Economics

HR Daily Advisor

Director of Reward and Recognition at pharmaceutical company Eli Lilly in 2011, it was going through a transformation. The four drivers are identified as follows: Acquire and Achieve —We are driven to acquire things, resources, or money (which is still a powerful motivator Nelson said. When James Brewer stepped into his role as U.S.