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 …
Total Rewards and Performance Management Systems Situation A prominent employee benefits consulting firm was concerned about its overall compensation and performance management systems. The partnership’s long-term compensation and retention of key non-partner personnel were becoming critical to its long-term survival. Employee feedback also indicated a general dissatisfaction with the connection between individual performance and base …
Total Rewards and Performance Management Systems Read More »
Competitive Pay Plan for a Non-Profit’s Senior Executives Situation A nationally recognized drug and alcohol rehabilitation center, concerned about the competitiveness of its executive pay levels and retirement benefits, wanted to validate executive compensation practices vis-a-vis its market for talent. It was also concerned about succession issues, preserving the value systems inherent in its unique …
Competitive Pay Plan for a Non-Profit’s Senior Executives Read More »
Retention of Key Executives Situation A family-owned national wholesaler and distributor of gifts and novelty items was concerned about its ability to retain key non-family executives who stayed with the private company through some difficult years. The owners requested assistance with the design of an equity-based compensation program for non-family executives. Process D.G. McDermott Associates …
Compensation and Organizational Analysis Situation One of the top five money center banks in the US was concerned about the competitiveness of its total compensation package for executives who managed a global service business. This unit provided one-third of the bank’s revenues. The primary issue was the comparability of the scope of responsibilities each executive …
Retention Practices Situation A management consulting firm prominent in the business process and systems integration field was experiencing unacceptable turnover of its consulting staff, especially among associates with five to seven years of valuable experience. The turnover rate was affecting the firm’s ability to staff client assignments with an adequate number of experienced consultants and …
Reward Programs Integrated with the Strategic Plan Situation The health care unit of a top insurance company wanted to assess how well its human resources programs supported its long-term business strategy to become a dominant leader in the HMO and Preferred Provider Network industry. Like many of its competitors, health care was just one business …
Reward Programs Integrated with the Strategic Plan Read More »
