The 4 Biggest Myths about Compensation Consulting Projects Engaging a compensation consulting firm to perform a compensation analysis project can be intimidating. It’s a little bit like being an 18-year-old and the first in your family to apply to an Ivy League school. What if you actually get in? There will be times when you’re …
The 4 Biggest Myths about Compensation Consulting Projects Read More »
5 Tips for Setting KPIs to Measure Success of a Compensation Consulting Project In a previous post, we talked about using SMART objectives for compensation consulting projects and the importance of Key Performance Indicators, or KPIs. But how do you identify the correct KPIs that will serve as Indicators of Success, a measurement of the success of …
5 Tips for Setting KPIs to Measure Success of a Compensation Consulting Project Read More »
Use SMART Objectives for Compensation Consulting Projects You know your company has a 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 …
Use SMART Objectives for Compensation Consulting Projects Read More »
How Compensation Consultants Can Help Your Business Grow After your customers, your employees are the life blood of your business. Maintaining good morale and loyalty is essential to retaining them – and avoiding the costs associated with replacing employees who leave. Perhaps your employees have been asking for raises, claiming they are underpaid. How do you …
How Compensation Consultants Can Help Your Business Grow Read More »
Hitting the Target: Take Stock of Sales Roles and Compensation It’s that time of year again when sales organizations review performance against sales goals and start thinking about next year. But this year, I propose that companies take a more thorough approach to this process by: Making sure sales goals truly support overall corporate objectives; …
Hitting the Target: Take Stock of Sales Roles and Compensation Read More »
The Great Disconnect: Getting Compensation Back on Track During times of major disruption and change, organizations need to maintain a laser focus on the business. Changing technologies, markets, sales approaches, and customer expectations require nothing less. The Great Recession was one of those times – a generational event that transformed many organizations in ways large …
The Great Disconnect: Getting Compensation Back on Track Read More »
Keep Your Compensation Strategy on Track Compensation Planning Insights Part 3 In earlier Compensation Planning Insights posts, I discussed the importance of articulating your company’s business strategy and aligning your compensation approach with strategy. In this post, I’ll cover two common pitfalls that can knock your compensation approach and business strategy out of alignment and cause …
Inspire & Reward Your Sales Force Even When Times are Tough It’s a tough time to be in sales – no matter what your business. Whether you’re in a business-to- business service industry, or your customers are mostly individual consumers, you know that people remain reluctant to open their checkbooks. Closing a sale can take much …
Inspire & Reward Your Sales Force Even When Times are Tough Read More »
Case Study: How Performance-Based Rewards Can Drive Change This post is a short case study of a company that created a successful incentive plan for its sales force. One of our clients, a food ingredient manufacturer, decided to change its long-held business strategy of emphasizing profitability to one designed to increase market share. By diversifying its …
Case Study: How Performance-Based Rewards Can Drive Change Read More »
Critical Skills Compensation Situation An international systems and technology company was expanding in the United States. The company’s main product lines focused on high-end voice and video surveillance activities. Its applications were often used in 911 operations and airports. As part of this expansion, it was hiring all levels of systems engineers and developers. Particular …
