Compensation Force

FEBRUARY 26, 2019

Incentive compensation. Incentives are dangerous, and not just because people game them. Incentives are like that jet engine. Yet incentives are still the first resort of most managers, perhaps because they all think they’re smart enough to create the perfect carrot. How do you know when an incentive plan is a good idea and when it is not? . What follows is my own list of what incentives can and cannot do. Things Incentives Can Do.

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Astron Solutions

SEPTEMBER 7, 2022

As with our review of 2023 compensation budgeting in the last Astronology® , predictions on how variable compensation will unfold next year are challenging. Issues that are Impacting 2023 Compensation Planning (From the Willis Watson Towers 2023 Compensation Planning Survey: [link] ).

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ExactHire

FEBRUARY 14, 2023

There are four different ways to demonstrate to your employees that you appreciate their work using compensation. Today’s top professionals are looking for custom compensation options and flexible earning potential. Direct compensation is monetary, usually providing a financial benefit.

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Astron Solutions

SEPTEMBER 28, 2021

As with our review of 2022 compensation budgeting in the last Astronology® , predictions on how variable compensation will unfold are challenging. We explore the impact of these challenges on the continued use of variable compensation in the 2022 total rewards mix.

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Compensation Cafe

APRIL 22, 2022

Throughout her career, Stephanie has completed research on a variety of topics including wage determination, pay gaps and inequality, and performance-based compensation systems. Base Salaries Incentives/Bonuses Pay for Performance Total Rewards

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Workable

FEBRUARY 17, 2023

What does employee compensation really mean? When people think of employee compensation, it’s usually the base salary of a position that initially comes to mind. However, total compensation includes employee benefits and perks.

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Fond

DECEMBER 6, 2022

Incentive Programs for Warehouse Employees. One sure-fire way to create a more positive company culture is to implement an employee incentive program. Incentive programs are a systematic way to reward your employees for positive behaviors or exceptional performance in the workplace.

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The Incentive Solutions News blog

OCTOBER 7, 2020

What is incentive pay? Incentive pay can be defined as a type of variable compensation that is awarded to employees when they have completed a specific set of performance objectives. Types of Incentives. Incentive Pay Examples.

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Compensation Cafe

JULY 27, 2021

For more than three decades equity compensation has been considered a necessary and ubiquitous element of pay at start-ups and high-growth publicly traded companies. Large studies have shown again and again that most (85%) equity compensation recipients do not understand their awards.

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Compensation Cafe

JANUARY 5, 2016

Pay for performance continues to grow as a solution for motivating people in a world of flat compensation. The title of this post probably had you thinking about incentive plans that required real goals to be met before payment was earned. Many companies have incentive plans without links between individuals, teams, departments and the company as a whole. Do you want to know more about, Performance-Based Equity Compensation?

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Compensation Cafe

NOVEMBER 11, 2021

The current world may provide more balance, but it no longer provides the leveraged upside that some of has had from equity compensation. Dan is also a leading expert on incentive plans and equity compensation issues.

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HRWatchdog

FEBRUARY 23, 2023

His compensation was calculated based on an annual Incentive Compensation Plan. Under the plan, his compensation was a combination of hourly wages and a nondiscretionary monthly bonus. As a result, the bonus necessarily included additional overtime compensation.

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Compensation Cafe

DECEMBER 7, 2021

It’s getting harder to know exactly what to do about equity compensation at pre-IPO companies. All of this is challenging long-used models for equity compensation. As a compensation professional, you have both a unique challenge and a unique opportunity.

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Decusoft

MARCH 4, 2021

Annual incentive compensation programs represent an enormous opportunity for motivating employees and executives to do their best work. What Is an Annual Incentive Plan? Long-term incentives can help executives maximize individual performance over not just months, but years.

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RecognizeThis!

FEBRUARY 16, 2016

Incentives are only effective when they match the timeframes of employees’ motivation to perform. In light of a recent Willis Towers Watson report on the ineffectiveness of annual incentives, I wanted to take a closer look at how and why they motivate employee behavior. For me, it was important to start at the very foundation and really look into what we mean when we talk about annual incentives. Bonus & Incentives Employee Motivation Annual incentives motivation

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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.

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Achievers

OCTOBER 20, 2020

Incentives give employees something to strive for and provide tangible acknowledgement of their great work. When an incentive is offered, 85 percent of workers feel more motivated to do their best. What are employee incentive programs? The value of employee incentive programs.

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Compensation Cafe

AUGUST 1, 2017

Editor's Note: Here, for a little midweek fun, we bring you Jim Brennan and his long-awaited, utterly authoritative and instantly gratifying dictionary of compensation decisions. The Compensation Cookbook will solve all your problems. No compensation chef should be without this essential guide to serve up the ideal menu in your café, restaurant, or eatery .

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Compensation Cafe

MAY 13, 2020

Incentive plans are one of the most complex aspects of pay and rewards. All of these simply orbit around the most important element of any effective incentive plan. The purpose of an incentive plan can only be absolutely clear if we avoid assumptions.

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Compensation Cafe

MARCH 31, 2017

Editor's Note: In today's post, Jim Brennan serves up his Classic tale of The Answer to our compensation design and practice challenges. . The Compensation Cookbook will solve all your problems. No compensation chef should be without this essential guide to serve up the ideal menu in your café, restaurant, or eatery . Past Compensation Editor of the Personnel Journal and last Senior Associate of pay surveyor ERI , he recently returned to consulting.

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ExactHire

OCTOBER 12, 2022

Job candidate compensation and benefits are a motivating factor for job seekers as they evaluate job opportunities, as well as for employees as they decide whether to remain with an organization. Creative Compensation and Benefits. Three Main Areas of Compensation.

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Compensation Cafe

FEBRUARY 16, 2021

Can your employees tell the difference between a raise and a bonus? After all, we often don't make much of a communication effort when we award bonuses. When it comes to bonuses, the understood link with business results is often sketchy, too.

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RecognizeThis!

FEBRUARY 4, 2016

Last week on Compensation Cafe I blogged: “Is Employee Engagement Moot in Today’s High Stress Work Environments?” Then today, I blogged “The Tricky Business of Incentive Compensation,” examining research on when and how incentives can motivate, given the typically low performance of such schemes. by Derek Irvine. Recognize This!

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Compensation Cafe

SEPTEMBER 9, 2021

Everyone who has ever worked on sales incentives has heard people refer to roles as “farmers” and “hunters”. This combination is a new challenge for many compensation professionals and requires a more active partnership between sales leadership and the compensation department.

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Astron Solutions

SEPTEMBER 17, 2019

The design and implementation of variable compensation programs continue to grow throughout 2019 and it appears that this trend will continue into 2020. The large influx of millennials into the workforce are causing organizations to re-examine the mix of base to variable compensation in their total rewards programs. The following is a review of the key issues impacting variable compensation strategies in the United States: Salary.Com ( www.salary.com ) 2019-2020 U.S.

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RecognizeThis!

DECEMBER 9, 2014

You can’t give all employees promotions, bonuses, or raises. My post this week on Compensation Cafe was triggered by it being “the season of giving.” ” Many companies distribute annual bonuses around the holidays, leading me to ponder the best time and use for bonuses as well as the other major reward methods of promotions, raises and, of course, recognition. Recognize This! - They become an expectation and it’s a very poor use of budget.

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Compensation Cafe

SEPTEMBER 20, 2018

Designing an effective incentive plan is always a challenge. Over many years I have come to rely on what I call the Incentive Plan Rule of Three. No more than three metrics (KPI), no more than three defined goal levels, no more than three incentive plans for any one individual. Many disciplines have their own Rule of Three, it’s time the compensation industry had a cool magic rule. Most incentive plans use three-level goal setting.

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Compensation Cafe

JULY 27, 2022

Editor's Note: With today's Classic serves up a call to walk the talk - or at least honestly talk the walk - when it comes to annual bonus awards. This gets them out of the admittedly difficult (particularly these days) task of pre-defining goals and bonus parameters.

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Visier

MARCH 22, 2022

Quite the hot commodity, workers can afford to be a little picky and a little particular about what kind of compensation they’d like in exchange for their labor. With companies competing for workers, savvy job seekers know exactly what they’re looking for in their compensation packages.

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Compensation Force

FEBRUARY 23, 2022

Article after article tells us that we should halt our use of incentives because people aren't motivated by money. Many of the incentive arguments centered around whether or not money motivates people reflect a wrongheadedness about the role of and reason for variable pay.

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Compensation Today

JUNE 30, 2017

PayScale’s 2017 Compensation Best Practices Report (CBPR) revealed that nearly three-quarters of organizations give some type of variable pay. Is there a difference between a bonus and an incentive? Under the umbrella you can find any number of bonuses, incentives, commissions, and other cash comp that is contingent on something happening. Bonus” falls under the umbrella. Incentive” also falls under the umbrella. Choosing Incentives or Bonuses.

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Compensation Cafe

DECEMBER 28, 2021

I seldom make predictions for an upcoming year because compensation generally evolves so slowly that any real changes take several years to come to fruition. I think we have a unique opportunity in front of us and many compensation professionals will relish the challenge.

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Compensation Cafe

JULY 16, 2020

I always thought there was a strong connection between compensation and organizational design. I couldn’t “do” compensation unless I had organization charts. I’m going to tell a story that I hope will make you see a parallel to compensation. . Editor's Note: Context matters.

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Insperity

APRIL 7, 2022

A thoughtful, high-value employee bonus program can help make the difference between struggling to recruit and retain talented employees , and having a workplace that employees never want to leave. Employee bonus programs defined. Types of bonus programs. Performance-based bonus.

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EmployeeConnect

MARCH 15, 2023

On the one hand, there is high inflation which is making every company implement a compensation strategy for the employees. So, employers will have to tread the path of work compensation carefully. What is a Compensation Strategy? How Do You Add a Compensation Strategy?

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Compensation Cafe

JUNE 11, 2020

The swirl of tasks and requests can make a compensation professional feel more like they work in air traffic control. Compensation can often seem pedestrian, but in times like this, your job may be similar. Dan is also a leading expert on incentive plans and equity compensation issues.

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Compensation Cafe

DECEMBER 29, 2020

Watching a few of these events (appropriately sped up) reminded me of the power of a compensation philosophy. Think of the main disciplines like Base Pay, Short-term Incentives, and Long-Term Incentives. Short-term incentive programs are kind of like the cycling event.

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