15Five

SEPTEMBER 26, 2018

In my book, Next Generation Performance Management , I differentiate between Performance Management 1.0 (PM and Performance Management 2.0 (PM is shorthand for last generation (traditional) performance management. Focus more on base pay and less on bonuses. Webinar Recap.

Performance Management

15Five

DECEMBER 13, 2024

Curious about how your performance management platform can help you implement performance-based compensation? In others, incentives like commissions and bonuses make up a large part of an employees overall compensation. They may get quarterly or yearly bonuses on top of their salary, but this isnt a guarantee.

Planning Tools

ATD Human Capital

MARCH 22, 2016

Performance management system failure most often comes down to a lack of clear purpose. However, a lack of alignment can also derail performance management systems. Is Performance Management Aligned? Managers are usually on the hot seat for failures. It cannot be a garbage can of different objectives.

Performance Management

Compensation Cafe

FEBRUARY 16, 2021

After all, we often don't make much of a communication effort when we award bonuses. So, you could say that they are also checking that your company's performance matches your competitors, although not deliberately. When it comes to bonuses, the understood link with business results is often sketchy, too.

Bonuses and Incentives

Compensation Cafe

JANUARY 3, 2019

It turns out that incentive compensation doesn’t just work, it can work too well at motivating the wrong behaviors. Make sure you design your incentive plan to reduce the possibility and rewards for cheating. Incentive plans are difficult to get perfect. This is where things went wrong. What can we learn from this episode?

Planning Tools

Compensation Cafe

MAY 5, 2020

Comparing incentive plans to a pandemic response seems like a stretch, but great incentive plans are all about stretching. Stretching company performance. The weeks inside have given me the time to realize the lessons a pandemic team can learn from the perspective of incentive plan design and execution. The list is long.

Planning Tools

Compensation Cafe

JUNE 20, 2016

When we make performance management purely rules-based the people who score best are often those who are the best at following the rules, not the best at building company value. Dan has written several inustry respurces including the recent Performance-Based Equity Compensation. Connect with Dan on LinkedIn.

Performance Management

Engagedly

MARCH 12, 2025

In this article, learn about efficient employee incentive programs and how you can avoid common mistakes in program implementation. Top 10 Employee Incentive Programs Incentives, or motivators, are factors that encourage motivation, growth, and productivity in your employees to achieve their set goals.

Bonuses and Incentives

Compensation Cafe

DECEMBER 17, 2020

Closing the books on merit increases may be on schedule, but there are always loose ends to clear up before you get slammed with Q1 bonus and incentive work. In true pay-for-performance philosophy, you've earned it. Taking time off? You may be feeling reluctant, even though you're tired.

Bonuses and Incentives

Compensation Cafe

DECEMBER 16, 2021

As regular readers know, I am someone who does a ton of incentive compensation work. I believe in incentives and their ability to align people with the culture, strategy, and goals of a company. I know incentives work when properly designed and communicated. The first is a big-ticket item that aligns well with management.

Metrics

Compensation Cafe

JUNE 2, 2020

Training will change and performance management will adjust with it. There will be a rethinking of the concept of “long-term” incentive plans. Incentive plans will respect this value in both design and potential value. Dan is also a leading expert on incentive plans and equity compensation issues.

Hiring Software

Hppy

DECEMBER 25, 2023

You might need an aesthetician and cosmetologist, who, although licensed by a cosmetology board, are unlicensed by medical standards and can only perform spa procedures, such as facials. Competitive compensation : High staff turnover means you’re not paying your workers well and lack proper incentive structures.

HR Software

Compensation Cafe

FEBRUARY 13, 2015

Is time wasting, as a product of poorly structured (and perhaps poorly incented) management undermining your reward program? Would they receive a poor performance review that would reduce their pay, bonus, or promotion potential? Incentives/Bonuses Pay for Performance Performance Management Total Rewards'

Bonuses and Incentives

Vantage Circle

JANUARY 8, 2024

The Essentials of Corporate Reward Programs Corporate rewards can take the shape of monetary bonuses, gift cards, non-monetary incentives, extra time off, discounts, exclusive offers, and recognition of employees’ efforts. Incentive programs that help in appreciating for reaching a milestone.

HR Software

Compensation Cafe

DECEMBER 5, 2019

It's time to accept that your job has changed from gatekeeper (limiting access to pay knowledge until employees are "ready") to educator (describing the nuts and bolts of salaries and incentives). After all, it's not just compensation information you'll be sharing but, eventually, a whole new open-book pay-for-performance philosophy.)

Payscale

Compensation Cafe

FEBRUARY 5, 2019

Could it be that we are designing and communicating incentives for our highest performance all wrong? This study specifically looked at the impact of incentives on motor and neurological performance in high-pressure situations. The real question should be what this may mean for future incentive plan design.

Compensation

Compensation Cafe

SEPTEMBER 23, 2020

Grow metrics and goals work especially well for short-term-incentive programs and as interim measurements in long-term incentive programs. ACHIEVE This is what your CEO or other “boss-like figure” means by performance-based pay. They only want to pay people incentives if they have proven results.

Metrics

Compensation Cafe

SEPTEMBER 13, 2016

A friend of mine likes to say: “It’s not that incentive pay doesn’t work well, it’s that it works TOO well. Like any well-designed incentive compensation plan, Wells Fargo’s started with a strong company culture and a simple goal that required special effort. Often when issues like this arise, someone will blame pay programs. .

Hiring Software

Compensation Cafe

SEPTEMBER 29, 2016

Today is a steaming jolt of quadruple espresso in response to the Wells Fargo incentive pay mess. Let me start with the fact that I have been interviewed a few times about this story and even I was surprised by my response to the question, “What companies in the financial world are considered to have good incentive programs?”

Wellness

Compensation Cafe

DECEMBER 3, 2014

Organizations would be more effective and employees would be more engaged if at least half of benefits dollars were converted into cash, especially incentive opportunities. First, benefits go to all, regardless of performance. Increase pay for performance. However, incentives are difficult to design, implement and maintain.

Bonuses and Incentives

Compensation Cafe

FEBRUARY 20, 2015

A short example of the takeaway lesson -- when it comes to reporting incentive results, it''s more likely to be perceived as substantively positive to say that you''ve achieved 96% of goal that to say you missed the goal by only 4%. the best Comp book I''ve seen and I recommend you get a copy." This week''s word of mouth?

Bonuses and Incentives

HRsoft

MARCH 20, 2024

As the organization matures, the focus shifts to balancing competitive salaries, performance-based incentives, and benefits that support employee growth and retention. This could be calculated based on salary or commissions and also includes bonuses. Direct compensation: Focuses on the monetary aspect or take-home pay.

Compensation

Compensation Cafe

DECEMBER 10, 2014

You may have already completed performance appraisal discussions, but performance should certainly be part of the discussion when 2014 increases and bonuses are covered with employees. Providing managers with prompts that can help them articulate their thoughts, especially if they find themselves in a tough spot.

Bonuses and Incentives

Compensation Cafe

MAY 23, 2019

Recognition programs can seem like small potatoes when compared to base pay, incentive plans and other elements of compensation. But the strongest performing companies know the secret power of recognition. They work especially well for employees who have limited, or no, access to bigger incentive programs.

Bonuses and Incentives

Business Management Daily

MARCH 14, 2024

Chances to open up a conversation about work can include: Periodic check ins and one-on-ones Messaging via Slack or a similar app Informal chats asking how they’re doing Team outings Non-work related book clubs or other discussion groups In all these cases, managers use open communication to ask someone how things are going.

Hiring Software

Compensation Cafe

FEBRUARY 24, 2015

Every compensation professional who has ever worked on an incentive plan has struggled long and hard with figuring out exactly what was to be accomplished, how it could be measured, what levels of achievement were good enough, what levels were actually good and what levels were truly great. Dan welcomes connections on LinkedIn.

Bonuses and Incentives

HRsoft

MARCH 20, 2024

As the organization matures, the focus shifts to balancing competitive salaries, performance-based incentives, and benefits that support employee growth and retention. This could be calculated based on salary or commissions and also includes bonuses. Direct compensation: Focuses on the monetary aspect or take-home pay.

Compensation

Compensation Cafe

JANUARY 23, 2018

But this is how many companies view targets for their incentive plans. Too often, plans are designed this way because of a misunderstanding of incentive pay. The basic premise of pay for performance is this: targets and quotas are meant to require effort. No one would be impressed if you made a bullseye, not even you.

Planning Tools

ClearCompany HRM

SEPTEMBER 14, 2022

According to Gallup , only two in 10 employees say they are motivated by current performance management methods. If performance reviews are the first thing that pops into your head when you think of performance management, your process might need a little TLC — there’s a lot more to performance than reviews.

Performance Management

Compensation Cafe

AUGUST 20, 2019

New incentive coming up next year? Performance measures are changing, that means employees' current behaviors/habits need to be readjusted, or even rejected, for the new goals to be met or exceeded. I've written before about the value of the book, "The Power of Habit" by Charles Duhigg. New business goals coming up next year?

Compensation

Compensation Cafe

MAY 11, 2022

Incentive plans, short and long-term, cash and equity based, depend on a level of uncertainty. Yes, you can have a comprehensive project plan, millions of documents, videos, an intranet, self-serve kiosks and a super cool performance management system. Dan is a leading expert on incentive plans and equity compensation issues.

Planning Tools

Strategic HCM

JULY 4, 2011

There’s a good example of this in Paul Evans and Vladimir Pucik’s book, The Global Challenge, which also emphasises the need for differentiation supported by internal consistency, along with the balancing of dualities (local and global) in international human resource management.

Bonuses and Incentives

Compensation Cafe

MAY 21, 2020

When the vast majority of companies have incentive programs that look very similar, but prospects that look far different, we must consider whether “market data” truly reflects our markets. Do your incentive plans promote the decisions, behaviors, and actions that truly define your success? I’m just sitting in my home office.)

Compensation

Bonusly

OCTOBER 13, 2021

In fact, it was coined by psychologist Alvin Toffler in his 1970 book, Future Shock. For example, you might conduct manual performance reviews that are implemented differently across teams, using spreadsheets and emails for documentation. You determine it’s time for performance management software.

HR Software

Compensation Cafe

OCTOBER 6, 2016

Remember that time you spent weeks modeling a new incentive plan only to have it shot down? Remember that other time you explained to your managers that they needed to have frequent conversations on the new pay for performance program? They explained that any goals needed to be based on RESULTS! Yep, you were right.).

Hiring Software

Compensation Cafe

NOVEMBER 7, 2016

If your open enrollment is on autopilot by now, your to-do list is probably loaded with performance review implementation steps and soon to be bulging with budgeting, merit increase and incentive award activities. And the managers use them.) Yes we're closing the books, but what have we learned ?

Compensation

Compensation Cafe

MAY 14, 2018

If you're an HR office of one, busily juggling everything from beneficiary forms to incentive awards, it's hard to believe that you share any pressures with other HR managers. Payment of bonus is determined by the CEO after the "books are closed" and results are discussed with Board. This is the first in a series.

Compensation