INDUSTRY INSIGHTS YOUR PEERS ARE READING
HR feels like their job is to solve the problems of employees and managers. How often does HR intervene to take over the role of the manager? Employees feel like everything bad that happens is someone else’s fault – HR’s, Management’s, the clients, the market. MORE
You know, just like if you have a new compensation change or improvement, why don't employees and managers just buy it and applaud your innovation? They have to introduce new insurance and wellness products regularly. Marketing? MORE
A business mantra for decades has been “what gets measured gets managed.” The source of the trouble is that when people are judged by performance metrics, they are incentivized to do what the metrics measure, and what the metrics measure will be some established goal. MORE
Annual and long-term incentive plans are often not as well cared for. They just exist and perform as designed and we may not dig back into them more than every couple or three years. Other times we have been warned by managers or staff that a program is ineffective, or worse. MORE
The new owner put a long-time employee in charge as manager and delegated duty. Mostly the problem was inventory, but sometimes quality suffered as well. They may recommend some kind of an incentive plan to reward better behavior (it might not be a bad idea). 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. Here are a few: Bonuses. Group incentives. This Hinges on Performance. MORE
Face it, those auto-messages provided by compensation and performance management administration systems don't qualify as communications, so don't even try to count them in. This year, make managers your primary communication audience. Figure out all of the ways that you can support them in pay and performance decision-making and give them first shot at your budget. but wouldn't that be solved by having a manager that can give expert answers on his/her own? 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. 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
In spite of all the progress we’ve made over the years and decades, a troublesome fissure still persists in approaches to Compensation, Rewards, and Human Resource Management (CRHR) in many organizations. We flaunt our ARMS in matters of strategy, policy, performance, and achievements. MORE
Editor's Note: Do your performance management practices - in truth and not just on paper - sufficiently consider behavior in addition to results? When reviewing an employee's performance, what do you as a manager look at? How managers act. 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. Wells Fargo just paid $185M in fines and penalties because its employees fraudulently opened additional accounting for people who were already customers. MORE
If this culture is to remain intact – in the form of pay-for-performance, for example – how will salary and career development decisions be taken if ratings are no longer used? Delegating these decisions to individual managers or to some machine-based algorithms is not the answer. MORE
Pay for performance continues to rise. However, the failure of pay for performance is rising almost as fast. Usually the drive for pay for performance comes from the top of the company. “We ACHIEVE This is what your CEO or other “boss-like figure” means by performance-based pay. 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. Managing Shortages. HR manager. MORE
It’s five minutes well spent, but here’s s snippet if you are in a hurry. “No 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. MORE
Editor's Note: More than a few of us number nerds populating the field of compensation have a Classic deficit in the soft skills required to constructively explore and understand the territory and circumstances surrounding employee and organizational performance. . MORE
If you are going to make sure your compensation and performance management programs are procedurally fair , you've got research, analysis and strategy development to complete. Managers are more likely to support employee focus groups when they are in an August frame of mind, as well. MORE
The 17 words listed align incredibly well with common incentive plan designs. A quick review of incentive pay basics. The following seem to align well with Minimum levels of achievement: Almost Certainly. That leaves three that don’t fit our normal incentive models. MORE
Base pay $750,000; bonus $100,000; non taxable pay $10,198. That the statement, "$100,000 bonus," means the same to you and me -- especially when we're sitting around a table with a Compensation Committee or executives. 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
It’s no secret that federal government has a troubling and long-standing reputation for low employee satisfaction, engagement and performance. Why is the President’s statement causing a stir in public sector management? How Performance Management Systems Can Help. 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
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. 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. The vehement rejection of the new sales incentive program stunned all the officers on the dais. 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. 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. Because incentives are powerful, they should be designed and implemented with great care. MORE
Editor's Note: Classic insights - and some great quotes - on risk aversity versus risk leveraging in pay management via Jacque Vilet. " Just as top management finds it critical to balance the risk and reward of their strategic decisions, HR also needs to incorporate risk into their thinking. MORE
Bonuses are paid, last year's results are old news and grand plans for this year have been signed, sealed and delivered. Run your bonus plan(s)through the washer periodically. Wouldn't it be great to share your key dates for performance management, salary discussions etc. MORE
Let's face it, the job switch is a life event for most of your candidates, involving substantial change and readjustment as well as career promise. Performance management creates a constricted atmosphere that just doesn't work in this situation. Incentives. MORE
Well, so much for the warm-hearted caffeinated, pick-me-up from the Comp Café. Today is a steaming jolt of quadruple espresso in response to the Wells Fargo incentive pay mess. I answered that if I had been asked a few weeks ago, Wells Fargo would have been on the list. MORE
What worked well once before can save your rear, if you still have it around when it is needed again. Well, not exactly; but the well-seasoned compensation professional would be smart to hold on to the ideas, plans, programs and tricks that worked well in the past. MORE
Editor's Note: There are those who believe pay for performance is the answer to all problems - and those who see it as universally destructive. With that in mind, I give you Dan Walter and his evergreen insights on the top risks to performance pay. MORE
Compensation Cafe has covered Wells Fargo's pay practices since 2009, when the Bank canceled prefunded employee recognition and rewards events in the midst of the Recession, blaming it on federal government restrictions on bank practices following the subprime mortgage crisis. 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. 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
Because the retention programs work too well. Base Salary Management Bonus/Incentives Compensation Philosophy Performance Management - GeneralCan employee retention be a double edged sword? 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.
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.
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
Compensation Cafe
SEPTEMBER 29, 2016
Well, so much for the warm-hearted caffeinated, pick-me-up from the Comp Café. Today is a steaming jolt of quadruple espresso in response to the Wells Fargo incentive pay mess. I answered that if I had been asked a few weeks ago, Wells Fargo would have been on the list.
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. Wells Fargo just paid $185M in fines and penalties because its employees fraudulently opened additional accounting for people who were already customers.
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.
|
Compensation Cafe
JUNE 20, 2016
It’s five minutes well spent, but here’s s snippet if you are in a hurry. “No 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.
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. The vehement rejection of the new sales incentive program stunned all the officers on the dais.
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.
AvilarHR
APRIL 30, 2018
It’s no secret that federal government has a troubling and long-standing reputation for low employee satisfaction, engagement and performance. Why is the President’s statement causing a stir in public sector management? How Performance Management Systems Can Help.
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.
|
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. Here are a few: Bonuses. Group incentives. This Hinges on Performance.
Compensation Cafe
FEBRUARY 1, 2018
The 17 words listed align incredibly well with common incentive plan designs. A quick review of incentive pay basics. The following seem to align well with Minimum levels of achievement: Almost Certainly. That leaves three that don’t fit our normal incentive models.
SuccessFactors
JANUARY 23, 2017
If this culture is to remain intact – in the form of pay-for-performance, for example – how will salary and career development decisions be taken if ratings are no longer used? Delegating these decisions to individual managers or to some machine-based algorithms is not the answer.
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. Managing Shortages. HR manager.
Compensation Cafe
OCTOBER 2, 2019
Annual and long-term incentive plans are often not as well cared for. They just exist and perform as designed and we may not dig back into them more than every couple or three years. Other times we have been warned by managers or staff that a program is ineffective, or worse.
Compensation Force
NOVEMBER 15, 2019
Because the retention programs work too well. Base Salary Management Bonus/Incentives Compensation Philosophy Performance Management - GeneralCan employee retention be a double edged sword?
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.
Compensation Cafe
APRIL 8, 2019
Bonuses are paid, last year's results are old news and grand plans for this year have been signed, sealed and delivered. Run your bonus plan(s)through the washer periodically. Wouldn't it be great to share your key dates for performance management, salary discussions etc.
Compensation Cafe
APRIL 26, 2019
Editor's Note: More than a few of us number nerds populating the field of compensation have a Classic deficit in the soft skills required to constructively explore and understand the territory and circumstances surrounding employee and organizational performance. .
Compensation Cafe
JULY 30, 2019
If you are going to make sure your compensation and performance management programs are procedurally fair , you've got research, analysis and strategy development to complete. Managers are more likely to support employee focus groups when they are in an August frame of mind, as well.
Compensation Cafe
FEBRUARY 6, 2017
Compensation Cafe has covered Wells Fargo's pay practices since 2009, when the Bank canceled prefunded employee recognition and rewards events in the midst of the Recession, blaming it on federal government restrictions on bank practices following the subprime mortgage crisis.
Compensation Cafe
APRIL 25, 2019
Let's face it, the job switch is a life event for most of your candidates, involving substantial change and readjustment as well as career promise. Performance management creates a constricted atmosphere that just doesn't work in this situation. Incentives.
Compensation Cafe
JULY 10, 2017
Base pay $750,000; bonus $100,000; non taxable pay $10,198. That the statement, "$100,000 bonus," means the same to you and me -- especially when we're sitting around a table with a Compensation Committee or executives.
Compensation Cafe
DECEMBER 19, 2018
HR feels like their job is to solve the problems of employees and managers. How often does HR intervene to take over the role of the manager? Employees feel like everything bad that happens is someone else’s fault – HR’s, Management’s, the clients, the market.
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.
Compensation Cafe
MARCH 18, 2019
Editor's Note: Classic insights - and some great quotes - on risk aversity versus risk leveraging in pay management via Jacque Vilet. " Just as top management finds it critical to balance the risk and reward of their strategic decisions, HR also needs to incorporate risk into their thinking.
Compensation Cafe
APRIL 23, 2015
Pay for performance continues to rise. However, the failure of pay for performance is rising almost as fast. Usually the drive for pay for performance comes from the top of the company. “We ACHIEVE This is what your CEO or other “boss-like figure” means by performance-based pay.
Compensation Cafe
JUNE 17, 2019
Face it, those auto-messages provided by compensation and performance management administration systems don't qualify as communications, so don't even try to count them in. This year, make managers your primary communication audience. Figure out all of the ways that you can support them in pay and performance decision-making and give them first shot at your budget. but wouldn't that be solved by having a manager that can give expert answers on his/her own?
Compensation Cafe
APRIL 25, 2018
Editor's Note: There are those who believe pay for performance is the answer to all problems - and those who see it as universally destructive. With that in mind, I give you Dan Walter and his evergreen insights on the top risks to performance pay.
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.
Compensation Cafe
JUNE 5, 2018
A business mantra for decades has been “what gets measured gets managed.” The source of the trouble is that when people are judged by performance metrics, they are incentivized to do what the metrics measure, and what the metrics measure will be some established goal.
Compensation Cafe
FEBRUARY 1, 2019
In spite of all the progress we’ve made over the years and decades, a troublesome fissure still persists in approaches to Compensation, Rewards, and Human Resource Management (CRHR) in many organizations. We flaunt our ARMS in matters of strategy, policy, performance, and achievements.
Compensation Cafe
SEPTEMBER 10, 2018
The new owner put a long-time employee in charge as manager and delegated duty. Mostly the problem was inventory, but sometimes quality suffered as well. They may recommend some kind of an incentive plan to reward better behavior (it might not be a bad idea).
Compensation Cafe
APRIL 9, 2018
You know, just like if you have a new compensation change or improvement, why don't employees and managers just buy it and applaud your innovation? They have to introduce new insurance and wellness products regularly. Marketing?
Compensation Cafe
JANUARY 16, 2019
Editor's Note: Do your performance management practices - in truth and not just on paper - sufficiently consider behavior in addition to results? When reviewing an employee's performance, what do you as a manager look at? How managers act.
Compensation Cafe
OCTOBER 19, 2018
What worked well once before can save your rear, if you still have it around when it is needed again. Well, not exactly; but the well-seasoned compensation professional would be smart to hold on to the ideas, plans, programs and tricks that worked well in the past.
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