The Key To A Successful Compensation Program Can Be Achieved By Taking These Three Steps:
1. Clearly defined goals that are realistic, but challenging
2. Tracking and measuring performance against goals and objectives
3. Rewarding performance achievement with competitive and motivational incentive compensation strategies
WHEN WAS THE LAST TIME YOUR ORGANIZATION WAS REVIEWED?
Is your compensation program consistent with organizational goals & strategic focus?
Do your compensation strategies improve performance, achieve results, and add strategic value to your organization?
Is your compensation program designed to enhance your business performance?
Are you making optimal use of performance based incentives, rewards, recognition and people strategies to drive your organization towards achieving it's desired results?
Does your compensation program enhance or detract from your ability to attract, motivate, engage and retain your employees?
When was the last time you checked to determine if your compensation program is competitive in your industry and/or geographic location?
Is your compensation program legally compliant with federal, state, and local laws and regulations?
Does your program assure that employees are paid legally and fairly for the work they do?
DOES YOUR ORGANIZATION:
Measure key and critical financial, operational and individual goals and objectives?
Recognize the value, efforts and contributions of your employees?
Reward employees with compensation directly linked to performance outcomes?
Motivate employees to improve processes and attain performance excellence?
Attract and retain key employees through the use of strategic performance management processes and competitive compensation and rewards programs?
Effectively communicate to its employee's key, annual company goals and objectives that align and drive organizational success?
Provide employees with compensation and reward opportunities that pay them for value and contributions towards the success of the organization?
