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by Edward O. Sweeney and Justin St. Louis Chobani, LLC, recently announced that it would be giving most of its employees stock shares pursuant to what is commonly referred to as an employee stock ownership plan (ESOP). As a result of the move, Chobani’s employees will collectively own roughly 10 percent of the company. How […]
Innovation drives productivity and opens up new opportunities. The most innovative companies, from Apple® to Zappos, are also the most successful. But innovation requires flexibility, a willingness to change, and a good tolerance for risk—three things that aren’t always part of compensation management.
In yesterday’s Advisor, we initiated our coverage of the Incentive Pay Survey; today, we feature more survey results, including how respondents fund incentives, how they communicate their plans, how they evaluate them, and how they would improve them.
Almost two-thirds of participants in BLR’s 2014 Variable Pay Survey indicate that they put some employee pay at risk. The recently-completed survey was completed by 1,452 employers. Here are some highlights:
The survey, sent to a random sample of SHRM members, had 510 respondents, which was a 13% response rate.
Novak is the author of New York Times and Wall Street Journal best-selling book, TAKING PEOPLE WITH YOU: the Only Way to Make BIG Things Happen. He offered his thoughts on leadership at the SHRM Annual Conference and Exposition, held recently in Orlando. No Recognition for 47 Years Novak tells the story of a visit […]
The most important design features in a sales compensation program are the pay level (how much) and pay mix (proportion of incentive pay to base pay). Pay levels will generally reflect industry practices, but the pay mix should be designed to meet the marketing strategy of the company. The degree of risk in the incentive […]
For example: If salespeople don’t view your program as competitive, your best salespeople will seek greener pastures. If salespeople don’t view your program as fair, there will be morale issues. (For example, if plans aren’t carefully thought through, some territories may experience a high volume of easy sales, while other territories have little opportunity to […]
[For the beginning of the survey report, go here.] Telecommuting Formal telecommuting guidelines are in place and employees are required to sign a formal agreement for 23.8%. An allowance to cover employee expenses for setting up telecommuting at their home is provided by 33.1%, 40.3% reimburse telecommuting employees for monthly Internet connections, and 54.2% reimburse […]
Highlights of our 2014 Perks Survey of over 2,000 employers: Paid holidays is the number one perk. Also in the top five: life insurance, LTD, STD, and paid vacation. For exempt employees, flextime is offered by 60.9%. Other benefits being offered include: Financial planning assistance (51.7%) Telecommuting (49.2%) Legal assistance programs (39.8%) On-site fitness centers […]