Pay Transparency Check-In

Compensation Cafe

Pay equity is studied through metrics that illuminate your practices. Her firm, re:Think Consulting, provides market pay information and designs base salary structures, incentive plans, career paths and their implementation plans.

eBook 70

Ensuring The Success Of Your Channel Incentive Program

Workstride

Organizations that go to market via indirect channels tend to understand the value in having a channel incentive program to motivate sales representatives, partners, or dealers. The objectives you set for your incentive program should focus on both quantitative and qualitative measures. Many companies rush to develop an incentive program because their competitors have one in place. Incorporate training as a qualifier to participate or as a bonus.

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Delving Into Data

HRO Today

Three organizations share how they use people data and analytics to amplify business strategy. People analytics” has been a hot catchphrase in the business world for years, with data promising to revolutionize recruiting, talent management, and myriad other HR processes. But while organizations have embraced data collection and reporting, data analysis remains in its infancy for all but the most sophisticated companies.

Data 52

Can You Depend on Solid ROI for Expensive Elite University Hires?

Compensation Cafe

Is there predictive data that can guide us? This report talks about "nominal" differences in groups, but that word just helps them communicate what they've found and sidesteps the fact that the data may not be either robust or predictive. Nonetheless, the data does suggest a few valuable analytic opportunities if you read between the lines. Compensation Philosophy Competencies Data and Analytics Incentives/Bonuses Performance Management

eBook 43

11 Reasons Your Equity Compensation Survey Data is Wrong

Compensation Cafe

Data seems to be all over the place. It often feels like survey data is pulling companies in specific directions, when it should be reflecting directions that have already been taken. Variable performance metrics (the tasks that must be performed and milestones that must be met). Most equity survey data is reported on a point-in-time basis, but nearly all equity compensation lives and changes over many years.

3 Tips for Effective Incentive Compensation Management

HRsoft

That’s why so many business leaders opt for incentive compensation. Employers utilize incentive compensation plans to reward employees for performance that goes above and beyond. It sounds fool-proof, but there are some ways in which incentive compensation management can go wrong. By following these tips, you’ll be able to master incentive compensation management in your company. Incentive compensation management doesn’t have to be difficult.

Unleashing Your Inner Scientist: Lab Mindsets & HR/Compensation Experiments

Compensation Force

I agree with the direction of this thinking, that moving compensation (and all HR) programs and practices forward, at the ground level where most of us live and work, will happen through evidence-based learning and innovation, through tinkering and tailoring , and through raising the bar on our understanding of fundamental data analysis. Slicing your data by different variable turns one experiment into many, while examining only aggregate data may cause you to miss things.

You ARE Being Replaced by AI

Compensation Cafe

Base with a 31.69% target incentive level, based on the fourteen individually weighted metrics recently established by our big data mining exercise in conjunction with our actuarially-modeled best-case scenario using the recent new pricing model from that academic team at MIT.”. should be granted as the new high-leverage PSUs with the quarterly rolling-metric structure. September 5, 2028. The day has finally arrived.

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. Analysis of divisional productivity data (followed by some manager interviews) can tell you a lot about performance obstacles, for instance. Singing, Dancing and Posing: Aligning Incentives, Performance Metrics and Strategic Objectives by Stephanie Thomas.

Cafe Classic: Are Your Compensation Plans on Autopilot?

Compensation Cafe

Is your incentive plan on autopilot, chugging along without consideration of changes in the business and potential undesired consequences? Perhaps there is a data point or two that could serve as a tripwire here; for example, metrics that might alert you to emerging safety issues in the wake of implementing new productivity incentives, despite your leadership team's confidence that supervisors could "manage away" this potential risk.

Compensation Communications that Hit the Mark This Time

Compensation Cafe

What have data and analytics got to do with compensation communications? You can use employee data and analytics to learn how to talk in a more relevant and engaging way with your employees. Back at the ranch, data and analytics show you how to convince your employees about the important points you need them to understand and support. The metrics and analysis that you use should be far more detailed than the sample given , but they give you a good idea of how to start.

Is Team Chemistry the Next Big Thing in Performance and Rewards?

Compensation Force

As Keith will point out, it is the best metric for how an individual player really contributes to the success of the overall team. As data and analytics bring increasing sophistication to our understanding of employee and organizational performance, will we be able to identify the plus-minus statistics for our teams? Bonus/Incentives Metrics/Analytics Pay for Performance Performance Management - General

Compensation Dentistry (part 1)

Compensation Cafe

Most of us do our regular maintenance and keep our base pay in line with our philosophy and relevant data. Annual and long-term incentive plans are often not as well cared for. Just like the fact that most kids don’t grow up wishing to be a dentist, few compensation professionals aspire to be mavens of incentive plans. Yes, incentive plans can be harder than base pay. It is this customizability that gives incentives their power and makes some avoid them.

Cafe Classic: How Much More is Enough?

Compensation Cafe

Later, as I worked on metrics and goals for a long-term incentive plan, this brief conversation came back to me. We have to be better than simply citing survey data as our reasoning. Base Salaries Compensation Philosophy Incentives/Bonuses Pay for PerformanceEditor's Note: A Classic discussion on the tipping point (if there is one!) for compensation, via Dan Walter!

Your Employee Referral Program Guide: The Benefits, How-tos, Incentives & Tools

SnackNation

Your Employee Referral Program Guide: The Benefits, How-tos, Incentives & Tools. Here’s everything you need to know about employee referral programs, including benefits, how-tos, incentives, and tools. Perform better on high-impact metrics than other candidates who share similar characteristics. Collect metrics on any online communications so you can try to gauge interest. Establish an incentive structure for inspiring employee referrals.

The Missing Piece of the Puzzle

Compensation Cafe

Solutions or interventions that are emotionally-driven rather than informed by facts and data. Absence of sound evaluation planning and data analysis methodology, to include conducting/completing a thorough baseline.

Do You Have a Meretricious Merit Program?

Compensation Cafe

But we’ve increased our incentive compensation budget!”, Too often our cash incentive programs do not payout rationally and in line with performance. This happens when metrics are selected, and goals are set, with too much hope and not enough tactical expertise. The middle of market data is an unlikely place the find the “best” anything. Base Salaries Compensation Communication Compensation Philosophy Incentives/Bonuses Stock/Equity Compensation Total Rewards

Trouble Getting Support for New Pay Plans?

Compensation Cafe

Instead of asking people if they want to participate in a stock option plan, or telling them that they should want to be in the new annual incentive plan, think about starting the discussion with the conclusion or results. Blindly asking if they will approve a switch from the current LTI metrics to something else won't work. And, when it doesn’t, it provides new data on what you may want to consider before the next “ask.”. Maybe you’re asking the wrong questions.

The Next Big Idea Begins Here

Compensation Cafe

A number of workshops highlighted the end-state elements of data analytics, metrics, and ROI – all targeting opportunities to better measure and improve the effectiveness and success of pay interventions and the management of total rewards budgets. . My favorite presentation featured new techniques in data visualization, by Bryan Briscoe and Paul Reiman. Base Salaries Compensation Philosophy Executive Compensation Incentives/Bonuses Pay for Performance Total Rewards

5 Ways To Recognize Employees in the Transportation & Logistics Industry

CoreCentive

Recognition programs may include referral bonuses or non-monetary compensation such as priority for in-demand routes. Metrics-Based Recognition. The most objective way to answer that question is a consistent set of metrics. You can then rank your drivers by any of these metrics.

A Chrome Panda Predicts Demise of Stock Options

Compensation Cafe

These are smart moves but we compensation professionals know the real money is in base pay and long-term incentives. As I have mentioned throughout this “Stock Options on the Precipice” series (earlier articles: 1 , 2 , 3 , 4 , 5 , 6 , 7 , 8 , 9 , 10 ), equity compensation often relies on suspect survey data and company values. Performance metrics are being tested and plans are being reviewed for flexibility.

Sales Compensation During Turbulent Times

SuccessFactors

Giving employee retention bonuses for top performers. Shifting metrics and KPIs to activity-based compensation. A successful sales compensation exception strategy is built on understanding historical data and trends. The human element comes in as leadership from operations, sales, finance, and total rewards come together to form a sales incentive task force.

Sales Compensation During Turbulent Times

SuccessFactors

Giving employee retention bonuses for top performers. Shifting metrics and KPIs to activity-based compensation. A successful sales compensation exception strategy is built on understanding historical data and trends. The human element comes in as leadership from operations, sales, finance, and total rewards come together to form a sales incentive task force.

BLR’s 2017–2018 Pay Budget and Variable Pay Survey

HR Daily Advisor

A closer look at the data shows that 15% of employers awarded merit increases of up to 2.5% Finding usable market data: 12.5%. 2017 Bonuses. last year) paid bonuses to their exempt employees in 2017, with 18.4% (up from 15.7% last year) of those surveyed awarded bonuses to their hourly workers, with 21.6% last year) gave their senior management team members bonuses above 10% of base pay, and 21.2% (down from 24.5% 2018 Bonuses.

How to Explain Human Dynamics to Execs Focused on the Bottom Line

Visier

In fact, according to a recent survey we conducted with Harris Poll, 80% of executives say their company cannot succeed without an assertive, data-driven CHRO. Here are two examples that demonstrate how behavioural trends impact the bottom line, and how you can uncover these trends in your workforce data to deliver a credible point of view: The Economics of Turnover Contagion. Retention Bonuses and the “What’s in it for me?” Of all people with a bonus, how many stayed?

How to Explain Human Dynamics to Execs Focused on the Bottom Line

Visier

In fact, according to a recent survey we conducted with Harris Poll, 80% of executives say their company cannot succeed without an assertive, data-driven CHRO. Here are two examples that demonstrate how behavioural trends impact the bottom line, and how you can uncover these trends in your workforce data to deliver a credible point of view: The Economics of Turnover Contagion. Retention Bonuses and the “What’s in it for me?” Of all people with a bonus, how many stayed?

OKR: Objectives and Key Results FAQs

7geese

What metrics should be used for Objectives and Key Results (OKRs)? Using outcomes instead of tasks as a driver, OKRs encourage accountability in every step of achieving success through metric indicators. Performance metric correlated to commission, not base salary).

5 Ways Employee Recognition Software Pays for Itself

Kazoo

Appreciation and employee engagement are mistakenly seen as soft benefits – making it all too easy to avoid investing in an employee experience enhancement program that, at first glance, looks more like a bonus than mission-critical functionality. There is quite a bit of research data to support this finding, and we also have real-world examples. Employee recognition software that includes incentive features can dramatically boost participation in training programs.

Pay the Friendly Way: United Airlines Ties Executive Compensation to Customer Satisfaction

Compensation Today

While there are many schools of thought on this topic, the data suggests that their choice to tie executive compensation to customer satisfaction is a great move in the right direction. And 64 percent of organizations recognize high-performing employees with bonus or incentive (either goal-based or without a formal plan). Once you have determined what these are in your organization and have baselines, tie the goals for this metric to compensation planning.

1% of Payroll: The Magic Number For Social Recognition Investment

WorkHuman

The data doesn’t look good. What’s more, the survey found that as investment increases, HR professionals perceived greater positive impacts on nearly every metric evaluated. He shared exciting new data across many of our customers that shows as individuals receive more recognition, their probability of leaving the organization decreases. The annual pay raise or bonus for example, only gives a lift in employee engagement for about one month.

How to Motivate your Sales Team to Work 2x Harder (According to Experts)

Lusha

There’s nothing more impressive than an SDR knowing their metrics, it’s even better when they know what deals AE’s are working on. Bonus: Build healthy habits into your incentives.

How an Employee Experience Platform Helps with Recruiting

Kazoo

With more time and data on hand, HR professionals can optimize their efforts around programs such as recruiting. After putting the call for employee testimonials on Kazoo and offering small “Behavior Bonusincentives for them, awareness of the initiative skyrocketed, and Emmaus ended up with over 100 “I Heart My Job” stories for the recruiting program. Related: See YouEarnedit customers who have improved Glassdoor ratings in this short data sheet.

How to Find Corporate Responsibility Software that Increases Profits

Givinga Blog

With donation tracking and impact reporting, businesses can collect and analyze data on their philanthropic impact, projecting their results into the market. Employee Incentive Programs. Incentive programs motivate employees to participate in corporate responsibility programs, increasing their engagement with your company. For example, some of the most powerful CR incentive programs are paid volunteering and student loan forgiveness.

How to Motivate your Sales Team to Work 2x Harder (According to Experts)

Lusha

There’s nothing more impressive than an SDR knowing their metrics, it’s even better when they know what deals AE’s are working on. Bonus: Build healthy habits into your incentives.

The Best Features of a High-Performance Engagement and Retention Strategy

CakeHR

Fixing the problem requires a systemic approach that changes the whole equation for employees, providing incentives to stay when the labor environment gives them every reason to leave. Begin With the Right Metrics. One of the greatest mistakes the majority of employee engagement and retention initiatives make is a failure to create the right data collection infrastructure before making changes to existing procedures and policies. Creating a bonus system for high-achievers.

3 Important Trends from the Latest Global Employee Engagement Report

Kazoo

From its impressive data set — over eight million employee responses were considered — many high-level trends in employee engagement were found. “Fair pay,” once the main factor behind the rewards and recognition driver in past reports, now only plays a supporting role in this year’s data. Before you raise the number of gift cards and spot bonuses handed out, raise your expectations for what employee rewards and recognition can be at your company.

AON 100

How to Avoid Layoffs: Cost-Cutting Strategies for Business

Cornerstone On Demand - Talent Management

For non-sales staff, halt all incentive payments immediately. Communicate these changes to your employees, explaining that to save jobs, the business must be as lean as possible—therefore, bonuses must be sacrificed. Consider Executive Compensation Adjustments Similarly, businesses might want to consider reducing executive salaries by 15-25% or freezing all cash and equity bonus payments to these individuals.

Employee Referrals: A Players, Diversity Hiring, and Key Benefits

UpstartHR

Hiring A Players with Referrals Data from one study shows that referrals are the best source for finding quality hires. Another expert says that referrals should be one of the top metrics that talent acquisition leaders focus on. And our own data at Lighthouse Research says that more than 80% of companies believe that referrals are important for measuring sourcing performance. Offering a $1000 bonus would still keep the referral hire cost far below that of other methods.

3 Ways to Ensure Fair Pay in Your Organization

Compensation Today

Rather, paying to market involves benchmarking a job to market and setting a salary range that aligns with that market data. Don’t hesitate to set up a temporary premium for highly coveted skills or offer a signing bonus or salary booster for hot jobs. Don't hesitate to set up a temporary premium for highly coveted skills or offer a signing bonus or salary booster for hot jobs. Fair pay is important — but what does it mean to pay fairly?

Wanted: A Culture of Innovation

ThirdSpace

As the innovation hype-cycle plays out, the data reveals that such window-dressing frequently does not achieve results. Their business decisions result from the struggle with lack of resources, experience and data about their business model. Gap Three – Truth to Power: Entailing the riskiness of innovation, is the unfortunate fact that management’s incentives are frequently misaligned with a searching and experimenting innovation process.