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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. Brewer and Nelson worked together to create an incentive program with many facets in order to help satisfy all four of the drives. For example, Eli Lilly turned to team-based incentives (vs. and “fit in.”

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Cafe Classic: Fix it then Pay, Not the Other Way

Compensation Cafe

Editor's Note: If you've spent any time in the rewards field, you've likely encountered managers desperate to throw pay dollars at a problem that has little or nothing to do with compensation and who will resist any and all efforts to take a closer look at what is really causing the issue. Incentive pay doesn’t motivate employees.

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Cafe Classic: Driving Your Compensation Programs in Reverse

Compensation Cafe

Dan Walter, master of the compensation metaphor, shines a light on the Classic problem we all face at one time or another - particularly those of us who work in or serve smaller, entrepreneurial organizations. As long as you get the people you need at a rate you can (somewhat) afford, you are feeling pretty good.

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King Tut’s Beard

Compensation Cafe

Recently, it was reported that employees at the Egyptian Museum in Cairo accidentally broke the braided beard off of the iconic burial mask of King Tutankhamen. Curators at the museum said they were told to make the repairs quickly since the mask is one of the main attractions (revenue generators) for the museum.

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A Guide to Planning Your HR Budget for 2022

Analytics in HR

An example of a company using a zero-based budgeting system is the Florida Power and Light Company (US), which has been highly effective at controlling costs. Take into account: Employee salaries Health insurance Life insurance Retirement plans Paid time off Overtime pay Bonuses Other perks. Diversity, equity, and inclusion.

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What Do You Do?

Compensation Cafe

They may need help on problems with salaries, bonuses or a certain benefit. Here’s my stab at it. A compensation professional figures out when, how and how much to pay people given their company’s strategy, budget and culture. Maybe someone else (like me) can use it at this year’s family reunion or holiday party.

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10 People Sustainability Strategies for Your Business

Vantage Circle

Taking a closer look at diversity winners reveals what can drive real progress. Integrate sustainability into performance evaluations: Integrate sustainability goals into performance evaluations and provide incentives for employees who contribute to achieving sustainability goals.