Variable pay has evolved greatly over the past five to 10 years, and is expected to change more in the future. However, variable pay programs and changes to them have not occurred without challenges. Prior to the 1970s, the concept of the annual bonus was primarily reserved for the executive level and based on discretionary […]
Compensation Strategy: How to Develop Last month’s Compensation Alert discussed the importance of having a compensation strategy. In doing so, we posed three questions that organizations need to know: Are your compensation programs competitive? To answer this question there is a need to answer the question of: Are compensation programs doing what you need them […]
As I meet with executives and senior managers, they increasingly want to discuss the returns that their organization is receiving from compensation. They are looking less at employee compensation as a cost and more as an investment. They pose the question: What is our return on investment from compensation? The first step in deciding the […]
Pay equity is an important consideration for employers today. Unfortunately, it’s not something that happens easily. In fact in a recent study we came across, just over a third of respondents had in place a process to address pay equity issues. Addressing this important concern requires a well-considered process to ensure that individuals doing the […]
Low unemployment and a looming labor shortage means employers have to work harder to attract and retain top talent. Across gender and education levels, salary and benefits are the most important factors when job seekers are choosing an employer, according to research conducted by Randstad North America. It is becoming a candidate-driven market again, and […]
“Don’t sell me products. Instead, lead me to solutions that incorporate your products.” (Vice President of a strategic account) In this issue of the Salesforce Alert newsletter, my colleague, Tim Weizer, shares a case study regarding a strategic change that helped achieve effective salesforce results. The senior sales executive of a middle-market financial services company […]
The face of performance management is changing with organizations such as Microsoft, Deloitte, Accenture and General Electric streamlining their performance reviews, or even scrapping them. This trend comes from a growing perception that annual performance reviews might not be the best way to manage and improve performance in the workforce. Perhaps the question isn’t whether […]
Many organizations profess to have a pay for performance compensation plan in place. What does that mean exactly? Does it recognize and reward the right employees? What the definition should be is that the right employee is whoever has performed well above the majority of other employees during the performance cycle. Those employees that the […]
By Tim Weizer | May 2016 In May 1992, the Wall Street Journal bluntly stated, “Nothing positive happens in the absence of revenue.” This statement is equally true today. An organization’s salesforce, and its effectiveness to generate revenue, can be significantly enhanced by the role of the HR function. Of the many diverse drivers of […]