Performance Management 2.0: Improving Your Employee Motivation Strategy

15Five

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.

Progressive Performance Management: Why Your Employee Compensation Strategy Is Holding You Back

15Five

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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Quick Reminder on Performance Management Effectiveness

Compensation Cafe

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.

The Dark Side of Incentives

Compensation Cafe

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.

The Real Cost of Mismanaged Incentives: Wells Fargo

Compensation Cafe

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.

Behavior Bonus: Performance Enablement

Kazoo

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. Using Incentives for Performance Enablement.

5 Lessons from Glittery Smelly Incentive Plan Mistakes

Compensation Cafe

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.

A New Grad Schools Us on Performance Management

Compensation Cafe

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.

Cafe Classic: Don't Blame Incentives

Compensation Cafe

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.

An Unpopular Sales Incentive Plan Design Fiasco

Compensation Cafe

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.

How to Meet the Demand for Better Government Performance Management

AvilarHR

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.

3 Performance Management Best Practices for Healthcare

Precheck

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.

Excessively Successful Incentives

Compensation Cafe

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.

Money for Motivation: How Incentive Based Pay Works

UpstartHR

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.

17 Words About Incentive Pay

Compensation Cafe

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.

Performance Management In The Post-Rating Era – Quo Vadis?

SuccessFactors

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.

Why the Best Employee Incentive Programs Succeed

Kazoo

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.

Talent and Performance Management Survey Summary

HR Daily Advisor

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.

Heed These 5 Performance Management Realities—Before It’s Too Late!

Reviewsnap

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 Dentistry (part 1)

Compensation Cafe

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.

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. 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.

Cafe Classic: Putting on Your Explorer Cap via Appreciative Inquiry for the Compensation Pro

Compensation Cafe

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. .

Cafe Classic: That's The Way We Do Things Around Here

Compensation Cafe

However, as soon as he starts to climb, the researcher sprays the monkey with ice-cold water as well as the other 4 monkeys. When a second monkey tries to climb the ladder, the researcher again sprays the monkey with ice-cold water, as well as the other 4 watching monkeys.

5 Employee Incentive Ideas that Boost Employee Motivation

Kazoo

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.

Update: Employee Compensation at Wells Fargo

Compensation Cafe

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.

Can Employee Retention Be a Double Edged Sword?

Compensation Force

Because the retention programs work too well. Base Salary Management Bonus/Incentives Compensation Philosophy Performance Management - GeneralCan employee retention be a double edged sword?

Solid Reasons to Start Communication Planning in August

Compensation Cafe

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.

6 Collaboration Techniques to Improve Team Performance

Synergita

Managing team collaboration in the workplace is a real challenge that every organization faces. If you are also one of the business owners facing difficulties in ensuring a good team performance and improving that with time, this article is just for you.

How Well Do Numbers Speak for Themselves?

Compensation Cafe

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.

Mid-Career Hires Are Tricky

Compensation Cafe

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.

Are HR and Employees in a Dysfunctional, Codependent Relationship?

Compensation Cafe

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.

5 Ways to Fight the "Peanut Butter" Syndrome

Compensation Cafe

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.

Cafe Classic: Stop Spreading the Peanut Butter and Start Feeding the Eagles

Compensation Cafe

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.

Develop Grow Achieve - 3 Tiers for P4P

Compensation Cafe

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.

The High Success Rate of Low Expectations

Compensation Cafe

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.

Cafe Classic: The Top 4 Risks in Pay for Performance

Compensation Cafe

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.

3 Reasons Why Metrics Go Wrong

Compensation Cafe

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.