June 26, 2009 5:48 amPublished by Michael BoyetteLeave your thoughts
When rewarding Pay for performance, look at the results in relation to the business environment Picture yourself as the chair of the sales compensation committee you’re asked to approve a…
June 26, 2009 4:17 amPublished by Michael BoyetteLeave your thoughts
Incentive compensation management should optimize a win-win situation for both the company and the employees Stop de-motivating people with your compensation management system. Base performance evaluations on relative results and…
June 26, 2009 3:54 amPublished by Michael BoyetteLeave your thoughts
Design in incentive compensation plans is crucial to effective optimum performance The matrix approach in incentive compensation plans is an old reward scheme with grids. In this situation, they’re paying…
June 25, 2009 7:17 amPublished by Michael BoyetteLeave your thoughts
Compensation management in practice with a merit matrix What does a merit matrix look like in practice? Here’s a typical compensation management example. So we’ve divided our performers into four…
June 25, 2009 6:39 amPublished by Michael BoyetteLeave your thoughts
Data quality and employee compensation surveys Self-reported data in employee compensation surveys. These tend to be internet-based free employee compensation survey sources. And they tend to be employee-focused, not employer-focused….
June 25, 2009 4:50 amPublished by Michael BoyetteLeave your thoughts
Effective compensation administration allows you to stay market competitive and within budget Compensation administration helps to ensure effective allocation of resources. I have yet to meet with a client that…
June 25, 2009 4:45 amPublished by Michael BoyetteLeave your thoughts
“What are other organizations paying?” is the key question in compensation systems The term market pricing is a valuation for compensation systems. It is defined as what the external labor…
June 25, 2009 3:30 amPublished by Michael BoyetteLeave your thoughts
Corporate philosophy and market conditions dictate your compensation management strategy The premier topic is market-based compensation management. And why would we do this? Why have a compensation program? Why does…
June 25, 2009 3:22 amPublished by Michael BoyetteLeave your thoughts
Salary Compensation Advantages and Disadvantages One of the biggest challenges associated with this salary compensation concept is distribution of employees, meaning what a lot of organizations do is they’ll say,…
June 25, 2009 2:47 amPublished by Michael BoyetteLeave your thoughts
Allocate limited salary compensation resources efficiently Some organizations take a plain vanilla approach to salary compensation plans. For example, they say, “We want to pay at the 50th percentile of…
