By Total Compensation Solutions We hear all the reasons why performance management doesn’t work and wonder “are there companies that are doing this well?” I am happy to report that there are companies that take the process seriously and have an effective program in place. There is an insurance company headquartered in the Midwest that [...]
By Total Compensation Solutions Performance management is the scourge of most managers in this country. In my 30 plus years in human resources working in corporations and consulting, one of the most frequent complaints is that the current performance management system just doesn’t work. Why? The two more frequent reasons we hear are: “The merit [...]
Short-term, cash incentives continue to dominate the compensation and incentive-pay landscape at both private companies and nonprofit/government organizations according to salary and compensation survey research released in May 2018 by WorldatWork in partnership with Independent Compensation Advisors member, Vivient Consulting. “Spending on short-term incentives (STIs) increased modestly at private companies from 2015 to 2017, which [...]
You know your company has a compensation problem and needs help. Perhaps you're losing employees who claim their salaries are not competitive with those offered by your competitors. Perhaps you need an employee incentive plan but don't know where to start. Maybe your performance management program is not producing the desired results. Whatever your [...]
By Don McDermott at D.G. McDermott Associates We are often asked how, specifically, a compensation consultant adds value to a business. It's important that all businesses appreciate the importance of creating a well-thought through compensation strategy and incentive rewards structure because after your customers, your employees are the life blood of your business. Maintaining [...]
