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Organizations everywhere are wrestling with the major cost issue of containing fixed base salary expenses, in addition to designing compensation reward programs that more directly align employee goal accomplishments with their pay. This session will use a real-world case study organization to demonstrate a proven eight-step approach to help ensure the successful design and implementation of variable pay programs: from assessing organizational culture all the way through to determining specific lump-sum schedules and payouts. This methodology can be adapted to any organization...so come with your questions, and learn the premier approach for rewarding employees! This session will review:
- The reasons and justifications of why many organizations are evolving to comprehensive variable pay programs to help contain fixed expenses, to better recognize superior employee performance, and to truly align overall goal accomplishments with compensation rewards.
- A practical, hands-on template (based on the eight-step methodology) that you can use as a road map and guiding principles for developing variable pay programs within your organization.