Tag: rewards

Voluntary Benefits: Low Cost, High Reward!

Voluntary benefits can have a very positive effect on recruiting and retention, and with little cost being shouldered by the employer. Steve L. Adams, an expert in the field of benefits and insurance, emphasizes that in order to reap the rewards of these offerings, you must be sure to implement them in a way that […]

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Retention Fundamentals: What Makes Employees Stay?

High turnover is a cost most employers seek to avoid. Yet, societal norms have changed such that it’s quite normal for individuals to change jobs every few years. An unhappy employee is more likely to move on, of course, so employers have incentive to do what they can to increase retention levels—reducing their own costs […]

Total Rewards Program Doing Its Job?

Your total rewards package affects your company’s ability to attract, motivate, and retain top talent. Is your program doing all that it could be? Consultant Jennifer Barton shows how to evaluate and improve your program. Barton, Chief Operating Officer, Willis North America Human Capital Practice, made her suggestions at the recent SHRM Annual Conference and […]

What’s Behind the Move to Variable Performance Pay?

Across-the-board increases and the entitlement mentality are out, and the pay-for-performance mentality is in, says Consultant Teri Morning, MBA, MS, SPHR, SPHR-CA. Organizations are looking for less expensive, less permanent solutions, such as lump sum payments, bonuses, or just paying top performers, she adds. Increasingly, employers are less averse to withholding merit increases for poor […]

What’s Happening to Total Rewards? New Landscape

The current global economic environment means executives are thinking about reward program management in new ways, says consultant Tom McMullen. The good news is that Hay Group studies show human capital concerns rank number one. What’s the Deal with the ‘Regular Rate’? FThe bad news is that many organizations still find it hard to maintain […]

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Should Nonexempts Get Incentive Pay?

Yes, pay for performance applies to all levels of jobs, says consultant Katie M. Busch, but there are some caveats when you offer incentive programs to nonexempts. Variable pay is a powerful communicator of values and directions and changing business needs, says Busch. However, with nonexempt employees, it is particularly important that: The amount of […]

Employee Rewards: The Importance of Perceived Fairness

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 […]