Remove ATS Remove Bonuses and Incentives Remove Compensation Remove Employee Recognition

3 Alternatives for When Your Annual Sales Incentive Trip is Canceled

Terryberry

Due to the COVID-19 outbreak, many organizations have evaluated the risks and canceled their annual sales incentive or “President’s Club” trips. These incentive trips have been created to keep salespeople motivated to meet goals and send the top achievers to fun destinations of their dreams.

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Cafe Classic: Is it Safe to Incent Safety?

Compensation Cafe

Should rewards be used to incent greater attention to safety? Is it a good idea to include safety metrics in a broad-based employee incentive plan? I recently came across an interesting article in Incentive Magazine about safety incentives.

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Compensation Cafe: How to Get People to Work Harder

RecognizeThis!

This week on Compensation Cafe , I asked the very fundamental question – “How do you get people to work?” ” Of course, the basic answer is through a contract for a specified amount of compensation in return for a specified amount of work. Recognize This!

The Tricky Business of Incentive Compensation

Compensation Cafe

The impact of these changes can be felt throughout the organization, from senior leadership teams responsible for successfully planning around those challenges to the front-line employees who adapt their roles and deliver on those plans. Follow Derek on Twitter at @DerekIrvine.

Why Today’s Incentive Thinking Is Different

Achievers

Too often in human history, this meant that people with less power were simply compelled to work, and incentives — if they existed — consisted merely of being allowed to survive. The Central Challenge of Giving Incentives. Stats That Prove the Value of Incentives.

Cafe Classic: 3 Steps to Get Even More Value Out of Compensation

Compensation Cafe

Why does compensation matter? Yes, compensation is a contractual agreement with the employee: X amount of pay for Y amount of work. In this context, compensation can be an integral element of how you focus employees and communicate to them your strategic goals.

Update: Employee Compensation at Wells Fargo

Compensation Cafe

Compensation Cafe has covered Wells Fargo's pay practices since 2009, when the Bank canceled prefunded employee recognition and rewards events in the midst of the Recession, blaming it on federal government restrictions on bank practices following the subprime mortgage crisis.

What Hourly Workers Really Want (It Might Surprise You)

Achievers

Hourly workers are among the most unhappy employees in the workforce. Employee engagement is more important than ever before. Let’s take a deeper look at what hourly workers really want and how your company can use that to stand out amongst the competition and hire great talent!

The Business Case for Employee Recognition and Rewards

Compensation Cafe

Why do we compensate employees? But compensation professionals (and readers of this blog) know the pay cheque is but one part of a very complex agreement between employer and employee to maximize a mutually beneficial relationship. Follow Derek on Twitter at @DerekIrvine.

Promotions, Bonuses, Raises, Recognition - When They Work (and When They Don't)

Compensation Cafe

You can’t give all employees promotions, bonuses, or raises. Social recognition, however, can be applied to all. In perhaps a worst-case scenario, promotions are little more than title changes in which the employee’s job duties change little if at all with no pay increase.

Cafe Classic: Choosing the Right Currency for Compensation & Rewards

Compensation Cafe

If you polled your employees and asked them, “What kind of rewards would you prefer?”, But what employees say they want for rewards, what actually works best to motivate employees, and what employees enjoy as rewards are entirely different things. It’s compensation.

The Best Employee Incentive Programs For Businesses: 4 Tips

Genesis HR Solutions

Is the line between “employee appreciation” and “employee incentive” a little blurry to you? However, I think it’s important that we do attempt to clarify the differences, because effective employee incentive programs serve a different purpose than employee appreciation programs.

3 Innovative Compensation Ideas Ready for Prime Time

Compensation Cafe

A few innovative companies implement compensation practices that others quickly dismiss as (at best) “good for them but it will never work for us” or (at worst) “crazy, impractical and unsustainable.” Look at Zappos’ “I’ll pay you to quit” policy.

Smart Ways to Increase Employee Retention

Get Hppy

More often than not, it can be just as difficult to retain an excellent employee for longer than a year or so. Consider these tips and discover the best way to retain your employees. . While this might seem like it is enough, most employees see through such empty gestures.

5 Ways To Recognize Employees in the Transportation & Logistics Industry

CoreCentive

This article will examine strategies companies can use to address this problem head on and boost employee engagement. Recognition programs may include referral bonuses or non-monetary compensation such as priority for in-demand routes. Metrics-Based Recognition.

4 Keys to Leadership According to Jack Welch

Compensation Cafe

To be a good leader for your employees, one needs to be rich with your praise, cheer them on, love to watch them grow and be excited about their success. You need to love to give bonuses. Above-and-beyond bonuses available to any level of employee.

Living Wage vs. Pay for Performance

Compensation Cafe

At the bottom are the base, must-be-fulfilled-first needs of food, shelter, and safety. Then at the top are the higher order needs of belonging, esteem, and self-actualization. By raising wages, Walmart was able to start hiring — and, critically, retain — better employees.

Cafe Classic: Celebrating Success. Who Do You Reward?

Compensation Cafe

It's time to take down the these false barriers to recognition and reward. A friend told me to be sure to watch the credits in full to see the secret scene at the end. I know of no other studio that does this, and it’s a hallmark of Pixar’s strong culture of recognition.

Recognition And Rewards Are Two Different Things

SuccessFactors

It’s about time someone demystified and explained the differences between recognition and reward. Recognition and reward are two completely different things and are used for different purposes. Okay, so take the Incentive Marketing Association (IMA). When do you give recognition?

Including Meaningful Work in the Total Rewards Package

Compensation Cafe

I’ve been consulting with organizations on how best to structure – and fund – social recognition programs to create a culture of appreciation and gratitude in an organization for a couple of decades now. Because cash is the currency of compensation. Ah, humans.

Who Owns Retention? The REAL Employee Turnover Problem

Achievers

What’s the biggest problem when it comes to employee turnover? At many companies, when turnover rises executives point to HR to fix it – whose plate is already overflowing with terminations, payroll, benefits management, and back-fill recruiting. building employee networks/committees.

Using the Corporate Tax Break to Your Best People Advantage

Compensation Cafe

The Tax Cuts and Jobs Act will have several impacts on compensation in the US, largely because of reduction in the corporate income tax rate from 35% to 21%. To date, more than 260 companies have announced one-time bonuses for employees out of the expected return.

Where Have All the Raises Gone?

Compensation Cafe

Last month The New York Times ran an article bemoaning the loss of pay raises in favor of one-time bonuses and non-monetary rewards. Cited in the article, analyst firm Aon Hewitt calls this a “drastic shift” based on the firm’s annual survey on salaried employee compensation.

Will Keeping SCORE Help You Keep Top Employees?

Compensation Cafe

How do you measure impact of efforts to improve employee satisfaction, engagement and retention? According to the article, SCORE stands for the primary employee concerns in the engagement and employment contract: Stability, Compensation, Opportunity, Responsibility, Environment.

Fair Pay, Differentiated Rewards

Compensation Cafe

My last post was a bit provocative – or at least the title was: “An Argument for Unfair Pay.” In the post, I asked compensation pros to weigh in on the idea of “unfair pay” with more of the merit pot going to the top 10% of high performers who arguably do far more of the work.

Why Appreciating the Labor of Others Matters

Compensation Cafe

Per Adam Grant, a professor of management at the University of Pennsylvania’s Wharton School, “A sense of appreciation is the single most sustainable motivator at work.”. Does appreciation replace compensation? Follow Derek on Twitter at @DerekIrvine. . .

Cafe Classic: Unions, Recognition and Employee Engagement

Compensation Cafe

Editor's Note: Today's Classic features Derek Irvine with some data and insights about the importance of employee engagement - even (and some might argue especially) in a union environment. In today’s workplace, unions still have power when they need to step in for employee rights.

How and Why You Need to Recognize Your Executives

Bonusly

Most employee recognition programs position senior leaders as champions or role models, not candidates for feedback. Senior leaders make excellent champions and role models for receiving recognition as well as giving it. Worse, CEOs are at greater risk of isolation.

Employee Recognition: Picking Up The Pieces

Dave's Weekly Thought

Case Study #1: A Story of Manipulation Employee A (Let's call him Carl) had worked for Company X (let's call it Pied Piper ) for a calendar year. After 3 failed endeavors at Bay Area start ups, Carl was looking for something more stable. Work at a Large Corporate Technology firm was different than the start up world: Bureaucracy was thick, rule structure was more intense and cashing out was trumped by climbing the ladder. Managers who average a "5" receive a bonus.

6 Employee Rewards Ideas for Blue Collar Workers

Fond

Companies are now aware of the benefits that rewarding employees can bring. Offering incentives will boost morale, performance, and retention. . If you want to reward these employees, read on to identify which ways will most engage them, and show that they’re valued.

Why Appreciating and Rewarding Employees is More Important Than Ever

Empxtrack

Experts believe that praise and recognition have always been crucial in improving employee productivity, engagement and retention. What experts say on employee recognition. Recently, Gallup surveyed 4+ million employees across multiple countries to know their views on employee reward and recognition. It was found, that employees who receive regular praise and recognition –. show increased level of performance at work.

What Is Employee Engagement?

Bonusly

This is the first chapter in our series about employee engagement! To start off, employee engagement is the emotional commitment an employee has to their work, their team's goals, and their company's mission. Employee engagement doesn't mean employee satisfaction.".

Chasing Best Practices

Compensation Cafe

Research from the firm PayScale may help to answer at least some of those questions, with their annual analysis of compensation trends and activity. Follow Derek on Twitter at @DerekIrvine

Employee Burnout Vs Great Company Culture: 5 Tips for the Tech Industry

Sterling Check

Moreover, working for tech giants is also about competitive pay scales and unique incentives. Even so, the tech industry faces the daunting task of improving dismal employee retention rates. Employee Recognition and the Culture of Sharing. Ensure Employees Are Heard.

Employees on the Brink: What’s their breaking Point? - Sapling Blog

Sapling

We all wish for employees who wake up in the morning saying “Wow, I get to go to work today!” Unfortunately, most employees aren’t at all excited about their current work situation. He adds, “Employees feel like they are burning the candle at both ends.