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Could it be that we are designing and communicating incentives for our highest performance all wrong? A recent study titled “ Reappraisal of incentives ameliorates choking under pressure and is correlated with changes in the neural representations of incentives ” appears to show that the fear of losing a reward allows people to perform at the edge better than the desire for earning more award. MORE
When describing their annual incentive plan (STI) most organizations will highlight to eligible employees the upside reward opportunities provided by the plan. That is, the better your personal performance the greater the reward. MORE
How clear is the line of sight between your performance pay programs, strategically linked performance metrics and the organizational strategy? Do your managers see these performance measures as they really are (imperfect proxies for larger, intangible strategic constructs), or do they focus on the performance measures themselves as the ultimate goals? Managers will receive bonuses tied directly to their survey scores. MORE
Even small companies ( I’m looking at you, Mr/Ms HR Manager of a company with less than 250 employees ) can incorporate these elements into their compensation planning without too much stress. We want to instantly think that we can drive performance or discourage behaviors through monetary incentives. Here are a few: Bonuses. Group incentives. Variable compensation tied to business performance is the same thing. This Hinges on Performance. MORE
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. Dan Walter is a CECP and CEP and works as Managing Consultant for FutureSense. Dan has written several industry resources including an issue brief on Performance-Based Equity Compensation. MORE
If you want to put one of best employee incentive programs in your workplace, you might need to step out of your own comfort zone and move away from cash rewards. Traditionally, employee incentives programs use cash rewards tied to a specific individual achievement. A bonus. But studies show that while cash incentives for employees’ motivation might work for a short-term boost, they can be counterproductive in the long run. MORE
How do you address employees who aren’t performing? I joined 15Five’s Director of People Science, Courtney Bigony and Chief Culture Officer, Shane Metcalf, in a recent webinar where we addressed ratings and compensation as they relate to performance reviews. MORE
A friend of mine likes to say: “It’s not that incentive pay doesn’t work well, it’s that it works TOO well. 5,300 professionals and managers fired. Like any well-designed incentive compensation plan, Wells Fargo’s started with a strong company culture and a simple goal that required special effort. Where was the team whose counter-incentive plan was based on finding and correcting fraudulent activity on the part of plan participants? MORE
While the details on the ground at IGN Entertainment may have changed since then, their inspired peer-to-peer bonus plan brings us a great example of how we might engage employees in rewarding the heroic actions of their peers during our challenging times today. Who is in a better position to identify your company's top performers - management or their peer employees? Bonus/Incentives Pay for PerformanceThis post first ran in 2011. MORE
Many early-adopter organizations who jumped aboard the train to abolish employees’ performance ratings are finding themselves on a challenging journey that is characterized by two key questions: What does the elimination of ratings do to the organizational culture of high performance which is still propagated and undisputed in most of those organizations? Delegating these decisions to individual managers or to some machine-based algorithms is not the answer. MORE
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? While the performance review or appraisal process is usually the key point in managing performance, it is only one element of the performance management system. Managers are usually on the hot seat for failures. MORE
The HR Daily Advisor research team conducted the 2016 Talent and Performance Management Survey in January, 2016. Talent and performance management are some of the most important and rigorous tasks any HR professional has to deal with. We asked participants everything from how they identify high-performing employees to how they reward those employees to what survey participants think about performance appraisals in general. Managing Shortages. MORE
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. Our performance reviews and management systems, as well as our incentive plans and reward programs must all account for the fact that human beings are doing the performing. Lately it seems like many companies are considering getting rid of performance review scores altogether. MORE
You may have been involved in laying friends off, furloughing colleagues, cutting pay for executives, putting holds on merit increases, temporarily modifying incentive plans, marketing pricing for newly remote positions, all while working from a dining room table, teaching math, and cooking more food than an average holiday season. He is a “Compensation Futurist” who works as Managing Consultant for FutureSense. MORE
The 17 words listed align incredibly well with common incentive plan designs. A quick review of incentive pay basics. This is another situation where many people would be very disappointed if they didn’t “get their bonus.” But, if you ask the people at the very top, they will usually tell you that people shouldn’t expect to get paid on their bonus. That leaves three that don’t fit our normal incentive models. MORE
What happens when you disappear raises, slim down bonuses, freeze salaries and/or jack up benefit costs? Many managers yearn to gussy up titles as a way of making employees feel better in a down market. Managers and employees need to be able to talk about job levels; compare skill development with competency development; identify experience in one job that can be successfully transferred to another; and so on. As you know, managers have a bad habit of over-promising. MORE
Which means that disruptive change, innovations that move the field of play and introduce new compensation management solutions, might likely originate outside our profession. Editor's Note: Because innovation is messy and irritating, and because we like to ruffle feathers here at the Cafe. MORE
Previously, we wrote about the pressing need to solve the performance management puzzle that baffles so many of our organizations. To “solve” performance management, we not only need to address each piece of the puzzle but we also must come to terms with a new set of realities. Here are five of the most critical new realities that, once embraced, will help us all solve the performance management puzzle: 1. MORE
From the article: Trying to gain a better understanding of the trends shaping the competitive environment has always been critical for managers. Perhaps most notably, Royal Dutch Shell used the approach to look more broadly at the trends and developments that could impact the price of oil and develop stories that could challenge management perceptions. What might the possible scenarios mean for how we manage and reward our employees? MORE
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. Every good incentive compensation professional knows that the best time to prepare for next year is while you are working on this year. MORE
The words will need editing and the methods you are using will need adjustment if they don't: 1) transfer the knowledge you have prioritized, 2) prepare managers and employees to act on the knowledge, AND 3) inspire feelings that build engagement. Responsiveness is one of a group of competencies that will be communicated as reminders through a campaign that includes email, manager discussions and videos on the intranet. MORE
Incentive compensation planning takes the concept a step further. Incentive Compensation is variable pay that is given to deserving candidates for exceptional performance. It includes merit based bonuses, restricted stocks, retirement plans and deferred bonus plans among other arrangements. When done right, incentive compensation: Pushes all employees to give their very best. The post Incentive Compensation Management Software appeared first on HRsoft. MORE
A recent Mercer 2019 Global Performance Management Study highlights the changing business scenario and the need for a more flexible and employee-oriented performance management system. What Makes a Difference in Performance Management? MORE
When it's time to link salary increases to performance ratings, the famous "peanut butter" syndrome comes to mind. You know, the one where you give managers a merit budget to allocate. These are often the same managers who are paying employees more than range maximum. MORE
The new sales incentive plan was not well received. All the worldwide regional managers in the audience spoke up in loud protest when it was announced at the global sales conference. Their disapproval disappointed the corporate headquarters compensation experts tasked with the duty to faithfully but delicately comply with the incentive program guidelines supplied by the division's senior management. MORE
I recently ran into a study on effective performance management practices that I want to share with you. Not because it says anything really new, but because it does a great job on focus and insight, attributes we can all use when it comes to performance management. whether employees perceive that central elements of performance management are designed well and function fairly." MORE
Editor's Note: Incentives are a tool. Incentives are not the cause of bad reinforcement programs, any more than forests should be blamed for the existence of warfare. Some opponents of incentives show the same thinking that would condemn trees because they may be shaped into spears, arrows and catapults instead of being turned into sturdy houses or inspiring artworks. Because incentives are powerful, they should be designed and implemented with great care. MORE
If you want to spend additional money on employee compensation without generating any impact on outcomes or behaviors, then give employees a bonus based completely on your discretion and tell them only that it is based on your judgment about what they deserve. MORE
At the end of the fiscal year, the department has information about raises which they transfer to managers who send it down the line. Talking things through using reference materials will also help everyone calm down a bit (see below) and build back her/his relationship with the manager. Because employees will see that their manager can be trusted to have insight she/he will share. Why communicate now? Aren't things bound to change before year-end salary reviews? MORE
Finding employee incentive ideas that boost talent recruitment, retention, and development is like finding a golden ticket for business success. Yet most traditional employee incentive plans don’t work for longer-term employee retention or talent development. Motivation-Boosting Employee Incentive Ideas. Tie Incentives to Spontaneous, Real-time, Specific Recognition. Plus, it takes the recognition work off a manager’s shoulders. MORE
While the Kazoo Employee Experience platform is primarily driven by spontaneous, timely employee recognition — some employees want specific incentives and directions for their behavior. This is where our Behavior Bonus functionality comes in. It’s a key part of a successful performance enablement program. Using Incentives for Performance Enablement. Behavior Bonus is, in its essence, an incentive tool. Real World Performance Enablement. MORE
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?” and Jim Brennan’s Excessively Successful Incentives ). Even worse, rather than adapting the incentive plan over time. MORE
When executed effectively, bonus administration can incentivize improved performance. However, mastering bonus pay isn’t always easy. For this reason, we’ve gathered a few helpful tips to help you ensure you’re planning your bonuses to make the best possible impact on your workforce. Every organization is different, so the bonus program that works in one company may not be ideal for yours. What outcomes do you hope to achieve through bonuses? MORE
As an employee incentive, cash isn’t king. As part of Kazoo’s research on rewards and recognition systems that work, we uncovered how to make employee incentives effective. Here are nine ways to create the best possible employee incentive options at your company. A sincere thank-you presented with an employee incentive lets an employee know exactly what they’ve done that you value. There is no one-size-fits all employee incentive. MORE
concepts like performance appraisal practices, bonus allocation, merit increase awards, high potential selection and, well, most of the things that we spend our time on. Performance management is the first thing that comes to mind. Or, in the case of variable pay programs, if you concentrate exclusively on the incentives for recognition purposes, eventually you won't notice that you're decimating your base salaries. MORE
Plus, you can help them manage their time effectively by communicating a single Total Rewards calendar for benefits, performance management and total compensation. With HR building a single operating calendar for open enrollment, performance management, raises, incentive awards and development planning. Margaret O'Hanlon, CCP brings deep expertise to discussions on employee pay, performance management, career development and communications at the Café. MORE
The only thing worse than an incentive that doesn’t work is one that works all too well. Wells Fargo is just the latest company to be ethically embarrassed and financially distressed by a fiasco involving excessively motivational incentives. Thousands of employees were discharged over scandalous fraudulent practices that generated illegitimate bonuses and enriched salespeople while bilking their clients. MORE
3 Performance Management Best Practices for Healthcare Sep. Too often healthcare workers are simply told “you need to do the following 25 things,” says John Lutz, Principal at ECG Management Consultants , consistently rated as one of the top healthcare consultancies in the U.S. MORE
The Annual Performance Review is Dead! One of the main issues that HR leaders face when considering a progressive performance management program is how to revamp their employee compensation strategy. and Performance Management 2.0. (PM MORE
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? He is a “Compensation Futurist” who works as Managing Consultant for FutureSense. Dan is also a leading expert on incentive plans and equity compensation issues. Change is hard. MORE
When 1,380 employees got a $100,000 bonus each, the story should have made headlines everywhere. The brilliant bonus decision was a wonderful example of a corporation that cares deeply about its employees. Each employee of Hilcorp was granted a one hundred thousand dollar Christmas bonus for their individual contributions to company success. No differentiation by title, grade, base pay, seniority, performance, race, sex, hair-color, weight or other irrelevant variables. MORE
15Five
SEPTEMBER 26, 2018
How do you address employees who aren’t performing? I joined 15Five’s Director of People Science, Courtney Bigony and Chief Culture Officer, Shane Metcalf, in a recent webinar where we addressed ratings and compensation as they relate to performance reviews.
15Five
AUGUST 28, 2018
The Annual Performance Review is Dead! One of the main issues that HR leaders face when considering a progressive performance management program is how to revamp their employee compensation strategy. and Performance Management 2.0. (PM
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Compensation Cafe
JANUARY 9, 2020
When describing their annual incentive plan (STI) most organizations will highlight to eligible employees the upside reward opportunities provided by the plan. That is, the better your personal performance the greater the reward.
Possible Works
MAY 29, 2020
A recent Mercer 2019 Global Performance Management Study highlights the changing business scenario and the need for a more flexible and employee-oriented performance management system. What Makes a Difference in Performance Management?
Compensation Cafe
JULY 19, 2019
I recently ran into a study on effective performance management practices that I want to share with you. Not because it says anything really new, but because it does a great job on focus and insight, attributes we can all use when it comes to performance management. whether employees perceive that central elements of performance management are designed well and function fairly."
Kazoo
DECEMBER 28, 2017
While the Kazoo Employee Experience platform is primarily driven by spontaneous, timely employee recognition — some employees want specific incentives and directions for their behavior. This is where our Behavior Bonus functionality comes in. It’s a key part of a successful performance enablement program. Using Incentives for Performance Enablement. Behavior Bonus is, in its essence, an incentive tool. Real World Performance Enablement.
|
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. Dan Walter is a CECP and CEP and works as Managing Consultant for FutureSense. Dan has written several industry resources including an issue brief on Performance-Based Equity Compensation.
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. 5,300 professionals and managers fired. Like any well-designed incentive compensation plan, Wells Fargo’s started with a strong company culture and a simple goal that required special effort. Where was the team whose counter-incentive plan was based on finding and correcting fraudulent activity on the part of plan participants?
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. Our performance reviews and management systems, as well as our incentive plans and reward programs must all account for the fact that human beings are doing the performing. Lately it seems like many companies are considering getting rid of performance review scores altogether.
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?” and Jim Brennan’s Excessively Successful Incentives ). Even worse, rather than adapting the incentive plan over time.
Compensation Cafe
FEBRUARY 5, 2019
Could it be that we are designing and communicating incentives for our highest performance all wrong? A recent study titled “ Reappraisal of incentives ameliorates choking under pressure and is correlated with changes in the neural representations of incentives ” appears to show that the fear of losing a reward allows people to perform at the edge better than the desire for earning more award.
|
Precheck
SEPTEMBER 13, 2018
3 Performance Management Best Practices for Healthcare Sep. Too often healthcare workers are simply told “you need to do the following 25 things,” says John Lutz, Principal at ECG Management Consultants , consistently rated as one of the top healthcare consultancies in the U.S.
Compensation Cafe
DECEMBER 15, 2015
When 1,380 employees got a $100,000 bonus each, the story should have made headlines everywhere. The brilliant bonus decision was a wonderful example of a corporation that cares deeply about its employees. Each employee of Hilcorp was granted a one hundred thousand dollar Christmas bonus for their individual contributions to company success. No differentiation by title, grade, base pay, seniority, performance, race, sex, hair-color, weight or other irrelevant variables.
Compensation Cafe
JULY 21, 2016
The new sales incentive plan was not well received. All the worldwide regional managers in the audience spoke up in loud protest when it was announced at the global sales conference. Their disapproval disappointed the corporate headquarters compensation experts tasked with the duty to faithfully but delicately comply with the incentive program guidelines supplied by the division's senior management.
Compensation Cafe
JULY 24, 2019
Editor's Note: Incentives are a tool. Incentives are not the cause of bad reinforcement programs, any more than forests should be blamed for the existence of warfare. Some opponents of incentives show the same thinking that would condemn trees because they may be shaped into spears, arrows and catapults instead of being turned into sturdy houses or inspiring artworks. Because incentives are powerful, they should be designed and implemented with great care.
Compensation Force
MARCH 18, 2020
While the details on the ground at IGN Entertainment may have changed since then, their inspired peer-to-peer bonus plan brings us a great example of how we might engage employees in rewarding the heroic actions of their peers during our challenging times today. Who is in a better position to identify your company's top performers - management or their peer employees? Bonus/Incentives Pay for PerformanceThis post first ran in 2011.
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? While the performance review or appraisal process is usually the key point in managing performance, it is only one element of the performance management system. Managers are usually on the hot seat for failures.
Compensation Cafe
SEPTEMBER 14, 2016
The only thing worse than an incentive that doesn’t work is one that works all too well. Wells Fargo is just the latest company to be ethically embarrassed and financially distressed by a fiasco involving excessively motivational incentives. Thousands of employees were discharged over scandalous fraudulent practices that generated illegitimate bonuses and enriched salespeople while bilking their clients.
Compensation Cafe
AUGUST 14, 2020
If you want to spend additional money on employee compensation without generating any impact on outcomes or behaviors, then give employees a bonus based completely on your discretion and tell them only that it is based on your judgment about what they deserve.
UpstartHR
NOVEMBER 24, 2014
Even small companies ( I’m looking at you, Mr/Ms HR Manager of a company with less than 250 employees ) can incorporate these elements into their compensation planning without too much stress. We want to instantly think that we can drive performance or discourage behaviors through monetary incentives. Here are a few: Bonuses. Group incentives. Variable compensation tied to business performance is the same thing. This Hinges on Performance.
Compensation Cafe
AUGUST 6, 2020
Plus, you can help them manage their time effectively by communicating a single Total Rewards calendar for benefits, performance management and total compensation. With HR building a single operating calendar for open enrollment, performance management, raises, incentive awards and development planning. Margaret O'Hanlon, CCP brings deep expertise to discussions on employee pay, performance management, career development and communications at the Café.
Compensation Cafe
FEBRUARY 1, 2018
The 17 words listed align incredibly well with common incentive plan designs. A quick review of incentive pay basics. This is another situation where many people would be very disappointed if they didn’t “get their bonus.” But, if you ask the people at the very top, they will usually tell you that people shouldn’t expect to get paid on their bonus. That leaves three that don’t fit our normal incentive models.
Compensation Cafe
JUNE 16, 2020
What happens when you disappear raises, slim down bonuses, freeze salaries and/or jack up benefit costs? Many managers yearn to gussy up titles as a way of making employees feel better in a down market. Managers and employees need to be able to talk about job levels; compare skill development with competency development; identify experience in one job that can be successfully transferred to another; and so on. As you know, managers have a bad habit of over-promising.
Reviewsnap
JANUARY 21, 2014
Previously, we wrote about the pressing need to solve the performance management puzzle that baffles so many of our organizations. To “solve” performance management, we not only need to address each piece of the puzzle but we also must come to terms with a new set of realities. Here are five of the most critical new realities that, once embraced, will help us all solve the performance management puzzle: 1.
SuccessFactors
JANUARY 23, 2017
Many early-adopter organizations who jumped aboard the train to abolish employees’ performance ratings are finding themselves on a challenging journey that is characterized by two key questions: What does the elimination of ratings do to the organizational culture of high performance which is still propagated and undisputed in most of those organizations? Delegating these decisions to individual managers or to some machine-based algorithms is not the answer.
Compensation Cafe
APRIL 17, 2017
How clear is the line of sight between your performance pay programs, strategically linked performance metrics and the organizational strategy? Do your managers see these performance measures as they really are (imperfect proxies for larger, intangible strategic constructs), or do they focus on the performance measures themselves as the ultimate goals? Managers will receive bonuses tied directly to their survey scores.
Kazoo
MARCH 16, 2017
If you want to put one of best employee incentive programs in your workplace, you might need to step out of your own comfort zone and move away from cash rewards. Traditionally, employee incentives programs use cash rewards tied to a specific individual achievement. A bonus. But studies show that while cash incentives for employees’ motivation might work for a short-term boost, they can be counterproductive in the long run.
Compensation Cafe
NOVEMBER 28, 2018
When it's time to link salary increases to performance ratings, the famous "peanut butter" syndrome comes to mind. You know, the one where you give managers a merit budget to allocate. These are often the same managers who are paying employees more than range maximum.
Kazoo
APRIL 27, 2018
As an employee incentive, cash isn’t king. As part of Kazoo’s research on rewards and recognition systems that work, we uncovered how to make employee incentives effective. Here are nine ways to create the best possible employee incentive options at your company. A sincere thank-you presented with an employee incentive lets an employee know exactly what they’ve done that you value. There is no one-size-fits all employee incentive.
Compensation Cafe
JUNE 25, 2020
At the end of the fiscal year, the department has information about raises which they transfer to managers who send it down the line. Talking things through using reference materials will also help everyone calm down a bit (see below) and build back her/his relationship with the manager. Because employees will see that their manager can be trusted to have insight she/he will share. Why communicate now? Aren't things bound to change before year-end salary reviews?
HR Daily Advisor
APRIL 4, 2016
The HR Daily Advisor research team conducted the 2016 Talent and Performance Management Survey in January, 2016. Talent and performance management are some of the most important and rigorous tasks any HR professional has to deal with. We asked participants everything from how they identify high-performing employees to how they reward those employees to what survey participants think about performance appraisals in general. Managing Shortages.
HRsoft
FEBRUARY 25, 2016
Incentive compensation planning takes the concept a step further. Incentive Compensation is variable pay that is given to deserving candidates for exceptional performance. It includes merit based bonuses, restricted stocks, retirement plans and deferred bonus plans among other arrangements. When done right, incentive compensation: Pushes all employees to give their very best. The post Incentive Compensation Management Software appeared first on HRsoft.
Kazoo
MAY 15, 2018
Finding employee incentive ideas that boost talent recruitment, retention, and development is like finding a golden ticket for business success. Yet most traditional employee incentive plans don’t work for longer-term employee retention or talent development. Motivation-Boosting Employee Incentive Ideas. Tie Incentives to Spontaneous, Real-time, Specific Recognition. Plus, it takes the recognition work off a manager’s shoulders.
Compensation Cafe
JULY 17, 2020
The words will need editing and the methods you are using will need adjustment if they don't: 1) transfer the knowledge you have prioritized, 2) prepare managers and employees to act on the knowledge, AND 3) inspire feelings that build engagement. Responsiveness is one of a group of competencies that will be communicated as reminders through a campaign that includes email, manager discussions and videos on the intranet.
Compensation Cafe
APRIL 8, 2020
From the article: Trying to gain a better understanding of the trends shaping the competitive environment has always been critical for managers. Perhaps most notably, Royal Dutch Shell used the approach to look more broadly at the trends and developments that could impact the price of oil and develop stories that could challenge management perceptions. What might the possible scenarios mean for how we manage and reward our employees?
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? He is a “Compensation Futurist” who works as Managing Consultant for FutureSense. Dan is also a leading expert on incentive plans and equity compensation issues. Change is hard.
Compensation Cafe
JUNE 11, 2020
You may have been involved in laying friends off, furloughing colleagues, cutting pay for executives, putting holds on merit increases, temporarily modifying incentive plans, marketing pricing for newly remote positions, all while working from a dining room table, teaching math, and cooking more food than an average holiday season. He is a “Compensation Futurist” who works as Managing Consultant for FutureSense.
Compensation Cafe
DECEMBER 4, 2019
Which means that disruptive change, innovations that move the field of play and introduce new compensation management solutions, might likely originate outside our profession. Editor's Note: Because innovation is messy and irritating, and because we like to ruffle feathers here at the Cafe.
HRsoft
OCTOBER 30, 2017
When executed effectively, bonus administration can incentivize improved performance. However, mastering bonus pay isn’t always easy. For this reason, we’ve gathered a few helpful tips to help you ensure you’re planning your bonuses to make the best possible impact on your workforce. Every organization is different, so the bonus program that works in one company may not be ideal for yours. What outcomes do you hope to achieve through bonuses?
Compensation Cafe
MAY 22, 2020
concepts like performance appraisal practices, bonus allocation, merit increase awards, high potential selection and, well, most of the things that we spend our time on. Performance management is the first thing that comes to mind. Or, in the case of variable pay programs, if you concentrate exclusively on the incentives for recognition purposes, eventually you won't notice that you're decimating your base salaries.
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