The Foundation of Strategic Pay: Your Compensation Philosophy
Developing a clear compensation philosophy is a critical step when conducting a market assessment, developing a salary structure, or building a new incentive plan. A compensation philosophy is a formal statement that documents your organization’s position on employee...
Behavioral Economics Lessons for Smarter Incentive Plan Design
Behavior Economics is a field of study that considers the influence that psychological, emotional, and social factors have on decision making. Although it is often applied to how consumers make buying decisions but can also be applied to the design of variable pay...
Aligning Vision and Value – Evaluating and Designing Long-Term Incentive (LTI) Plans
While Annual Incentives motivate year-over-year performance, the purpose of Long-Term Incentive (LTI) plans is sustained company growth, key employee/executive retention, and shareholder value creation. LTI aligns the interests of your key leaders with the long-term...