A Sophisticated Merit Increase Grid
Yesterday’s CED featured advice on variable performance pay from consultant Teri Morning, MBA, MS, SPHR, SPHR-CA. Today, her salary increase grid—which is a little more complex than most.
Tag: Teri Morning
Why the Trend Toward Variable Performance Pay?
“Employers want to end the entitlement mentality of across-the-board increases and move to a pay-for-performance mentality,” 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 […]
A Sophisticated Merit Increase Grid
Morning says her grid takes into account three factors (market and business performance, individual performance, and position in range), plus there’s a lump sum option. Pay increases are based on three main factors, says Morning, president of Teri Morning Enterprises in Carmel, Indiana, who made her suggestions during a recent webinar sponsored by BLR®. In […]
Why the Trend Toward Variable Performance Pay?
Increasingly, employers are less averse to withholding merit increases for poor performers so they can afford to grant meaningful increases to better performers, says Morning, who is president of Teri Morning Enterprises in Carmel, Indiana. Morning made her suggestions during a recent webinar sponsored by BLR®. What is Variable Performance Pay? Variable performance pay aligns […]
Q&A on pay surveys and pay raises
For employers looking to utilize pay surveys to get market benchmarks, where should they look? Who is the best source for pay surveys? What about employers who already have benchmarks but want instead to implement raises on a limited budget—how should they determine how much of a raise to give for everyone versus how much to only top performers?
Trends in the Use of Variable Pay
“Variable pay supports the organization’s strategic direction and drives the accomplishment of organizational goals.” Teri Morning explained in a recent BLR webinar. “It does so by enabling companies to recognize and reward high performers and to sustain high performance.” What Is Variable Pay? Variable pay is pay given over and above base pay, since average […]
Q&A on Setting Pay Rates and Ranges
Setting formal pay ranges is one way organizations create fair pay structures that also motivate employees. These types of structures can provide a basis for employees to move between levels, and can create internal consistency in how employees are paid. That said, they can also come with plenty of questions when you’re just getting started. […]
What Metrics Should HR Be Using? Q&A Session
What financial metrics should HR be using? What is most important to track? Which metrics measure effectiveness? Should the metrics vary depending on what industry your organization is in? Teri Morning fielded all of these questions and more in a recent BLR webinar. Check out the sample questions and answers below to learn more. Q. […]
How HR Can Earn a Seat at the Table: Understanding Cash Flow Statements
For HR to be most effective, you should understand how the business side of the organization works. HR won’t earn a permanent seat at the decision-making table without a clear understanding of what’s behind the finance team’s decisions and strategies—including basic financial reports. Let’s take a look at the cash flow statement as an example. […]