Rewarding employees goes above and beyond base salaries, and with that in mind, companies are prioritizing career development more than other alternative rewards, benefits, and bonuses. According to new research, career development program expansion is viewed as a way to engage and retain workers.
Tag: Hay Group
In yesterday’s Advisor, guest columnist Lee Ellis explained the benefits of balancing results and relationships in leadership. Today we take a look at a recent study that demonstrates the importance of prioritizing company culture in order to lead effectively.
For the fifth year in a row, U.S. employees can expect to see a moderate 3.0% median base salary increase in 2016. With human capital concerns the number one issue top of mind for CEOs, the challenge in an era of cost constraints is to engage and retain talent without heavily relying on base salary […]
McMullen is Reward Practice Leader for Hay Group in Chicago. He was joined by Dow Scott, Professor of Human Resources in the Quinlan School of Business Administration at Loyola University Chicago and president of Performance Development International, a management consulting firm. Their remarks came at the WorldatWork conference in Philadelphia. McMullen offers the following “equation” […]
Two primary perspectives exist when it comes to employee reward programs: Reward programs are seen as a cost of doing business, in which case the goal is to minimize the costs. Reward programs are seen as an investment, in which case the goal is to optimize the return on the investment. Organizations, including their managers […]
Perceived fairness of employee rewards (or the lack thereof) is often at the root of why employees leave organizations. The idea of fairness also determines if an employee will make an extra effort to reach organizational goals or even the objectives of his or her own job. For these reasons, it’s vital for organizations to […]
Fichthorn , vice president in the Philadelphia office of Hay Group, was joined in his presentation at a recent BLR/HRhero webinar by Martin Somelofske, a senior principal in Hay Group’s Metro New York office. Fichthorn suggests that the following trends will characterize executive compensation in the upcoming year: Continued government interest and involvement, specifically through […]
During the 2011 proxy season, shareholders seemed to be less influenced by ISS on say on pay, says Fichthorn, vice president in the Philadelphia office of Hay Group. He was joined in his presentation at a recent BLR/HRhero webinar by Martin Somelofske, a senior principal in Hay Group’s Metro New York office. Only a handful […]
Green, who is a principal at Hay Group, offered her tips at a recent webinar sponsored by HRHero/BLR. In yesterday’s Advisor, she suggested that compensation managers ask three key questions before launching a pay-for-performance program. [Go here for Question 1] Question 2. Is Management Willing to Differentiate? At the heart of pay-for-performance is paying higher […]
Green, who is a principal at consultant Hay Group, offered her tips at a recent webinar sponsored by HRHero/BLR. What Pay-for-Performance Is (And Isn’t) First, says Green, it’s important to clarify what is pay for performance and what isn’t. Pay for performance, she says is: Any type of compensation or reward that is provided only […]