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Growing a Healthy Compensation Program -- Part Two

Compensation Cafe

In today's article, it's about eighteen months later and they have a new product that's taking off in the cardiac care market. The annual bonus was affected by production outlays for the new product. They have close to 400 employees today, and staffing goals for the year will bring the company up to 473 employees.

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Ready, Set, Go, Go, Go!!!

Compensation Cafe

They are setting up another production location and we have been talking about how to make this work. In a start up, a paycheck/incentive talks to the employee about the future as much as the present. Do I have a career here? I'm working with a small company with huge potential for growth. So back to that paycheck.

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Compensation Communications: Should I Say How I Feel?

Compensation Cafe

Take another example -- you need to communicate the bad news that mid-year bonuses will not be paid because of business conditions. They may understand why there is no funding for bonuses, but they will still be disappointed. Explanations of product results or share behavior could be used as part of your explanation.

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Spring Cleaning Checklist!

Compensation Cafe

Bonuses are paid, last year's results are old news and grand plans for this year have been signed, sealed and delivered. You've been nudged many times by Compensation Cafe writers to develop a salary administration handbook, so managers and compensation staff alike have reliable guidelines for any circumstance. Here are a few thoughts.

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Plan Design Laid Bare!

Compensation Cafe

Whether you are redesigning your base pay program or creating an incentive plan, it pays to learn from experienced colleagues, so I've included links to Compensation Cafe articles about each of these three best practices. Singing, Dancing and Posing: Aligning Incentives, Performance Metrics and Strategic Objectives by Stephanie Thomas.

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What is an employee incentive program: ideas and outcomes

Workable

At their core, employee incentive programs are designed to recognize and reward employees’ contributions, thereby fostering a culture of appreciation, motivation, and loyalty. What are employee incentives? These incentives can be broadly categorized into two types: monetary and non-monetary.

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Are We Doing Enough?

Compensation Cafe

The attitudes impact both productivity and teamwork. And usually the specific issue is merit increases and/or bonuses. Margaret O'Hanlon, CCP brings deep expertise to discussions on employee pay, performance management, career development and communications at the Café. It's really hard to sort out who gets what, I know.