For many organizations the biggest challenge will be replacing the retiring Boomers, particularly if they have spent all or most of their career with one employer. Some of the studies that have been done recently argue that Boomers do not intend to delay retirement while others say they will never fully retire. This contradiction can … Continue reading Manage Losses Due To Retirement
Tag: reward systems
Communicating Reward Strategies
Communication is key to promoting an understanding of the strategy and the reasons why it is what it is. Communication also can inspire employees to focus on organizational objectives and to contribute to its performance. Effective communication is one of the best tools rewards practitioners have. Informing, influencing and inspiring employees is best done by … Continue reading Communicating Reward Strategies
Can HR Functions Do Better By Doing Things Differently?
HR functions must find an optimal way to get things done. If the work can be eliminated, done better, or done by others, HR executives should evaluate the options and make the changes that will maximize effectiveness and efficiency What, If Anything, Needs To Change? If an HR function finds itself overloaded and/or not competent to … Continue reading Can HR Functions Do Better By Doing Things Differently?
5 Business Reasons To Consider Including Variable Pay In The Total Direct Compensation Strategy
Economics: The conversion of what have been fixed costs to variable costs is an advantage of some significance. Variable pay awards do not compound the way base pay adjustments do, thereby lowering the escalation of rates over time. Assuming variable pay is tied to performance, it both allocates awards more optimally and is contingent on … Continue reading 5 Business Reasons To Consider Including Variable Pay In The Total Direct Compensation Strategy
Performance & Rewards Strategies for International Assignees
“If multinational firms are to prosper now and into the future, they must develop people who can successfully function in a global context – formulating and implementing strategies, inventing and utilizing technologies, and creating and coordinating information. International assignments are the single most powerful means for developing future global leaders.” – Globalizing People Through International … Continue reading Performance & Rewards Strategies for International Assignees
Developing A Sales Compensation Strategy
The first step in creating an effective sales compensation system is to develop a strategy that is derived from the objectives of the organization and its business strategy and that is a good fit to the context within which the organization operates. The importance of sales will depend on that context. A monopoly with no … Continue reading Developing A Sales Compensation Strategy
Adopting An Appropriate Competitive Posture
Once the market of choice is defined and the prevailing levels determined an organization must decide how it pays relative to that market. Most organizations will define multiple markets, each selected for a specific skill set, occupation or category of employee. And the competitive posture may be different for different types of employees. It is … Continue reading Adopting An Appropriate Competitive Posture
Aligning Human Capital Strategy With Organizational Strategy
An organization’s workforce is potentially its most valuable asset. But this statement is only true if the workforce is made up of the right people, with the right knowledge/skills and the right motivation. In addition, it must be managed effectively; this is where the human capital strategy comes in. It provides a framework for staffing … Continue reading Aligning Human Capital Strategy With Organizational Strategy
Rewarding Performance in Public Sector Organizations
The dynamic economy of the last decade has presented significant revenue challenges for public sector organizations. Their workforce costs for current employees are largely fixed and significant liabilities are accruing for items such as pension programs and retiree health guarantees. Declining revenues during economic downturns have caused them to attempt to reduce headcount while maintaining … Continue reading Rewarding Performance in Public Sector Organizations
Reward Strategies for M&As + Internal Start-Ups
There are situations when an organization wishes to spin off a portion of itself into a stand-alone entity. The new entity can be completely separate or can remain a part of the parent but allowed to operate independently. When the newly created entity was a part of a larger organization there will likely be pressure … Continue reading Reward Strategies for M&As + Internal Start-Ups
Robert J. Greene | Reward $ystems, Inc. 