Rubino, who is founder and president of Rubino Consulting Services in Pound Ridge, New York, offered his suggestions at the 64th SHRM Annual Conference and Exhibition, held recently in Atlanta, Georgia.
Here are the rest of Rubino's tips:
[Go here for tips 1, 2, and 3.]
4. A Successful Plan Sets Total Compensation Integrated With Total Rewards
5. A Successful Plan Yields Financial Returns to Employees
6. A Successful Plan Yields Financial Returns to the Company
7. A Successful Plan Involves Employees and Managers
8. A Successful Plan Uses Internal and External Data
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9. A Successful Plan Sets Forth Clear Performance Goals
Performance criteria in successful programs are:
Aligning rewards to performance requires the following:
10. A Successful Plan Achieves Clarity Through Communication
Communication mega-objectives may include:
Even the most elegantly-designed variable program will not achieve the desired results unless employees and managers are trained to understand how it works, says Rubino.
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