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An incentive program can be a great way to motivate employees and help the organization achieve their goals. But it doesn’t come without potential pitfalls. For example, tying an incentive to reaching specific sales or profit goals means that the company will have to be candid with employees about those figures—which may be uncomfortable if […]
Keeping Your Best Employees: Using Compensation Strategy to Nurture the Keepers In today's market, even if you're not making changes yet, your competitors are already hiring, promoting, providing bigger merit increases, and restoring bonuses. There's less and less barrier and more and more incentive for employees to go somewhere else. "I think now it's incumbent […]
10 Bad Habits for Your Compensation Strategy Ten bad compensation habits to avoid: The "peanut butter" approach. Avoid always spreading money evenly across employees. "Keeping your top employees and rewarding and nurturing them and engaging them is the opposite of the peanut butter approach. With low merit budgets, this becomes harder, but we can differentiate […]