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Topic:
The Top 4 Risks in Pay for Performance
Date:
June 11, 2012 at 3:00 - 4:00 PM ETPresenters:
Dan Walter, President and CEO(Performensation)
Register for the Virtual Conference to obtain webcast schedule and registration access by clicking on the 'view event' button below.
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Description
The Top 4 Risks in Pay for Performance
1. Incorrect Metrics Metrics are the “things” that are being measured. These are the foundation of your plan and must represent the measurements of success. Companies often assume they know what drives performance. These assumptions lead to plans that allow poor behavior by taking attention away from it, or by motivating only one side of the risk/reward formula. 2. Poorly Set Goals Goals are the levels that define the success of each metric. These are the drivers of your plan and must represent your destination. Goals and the compensation paid for reaching them are levers that can make two seemingly similar compensation programs deliver in dramatically different ways.You may be measuring the same metrics as your peers. Your goals may simply be at higher multiples. You may have similar goal multiples, but the underlying payouts are too leveraged or too forgiving (or vice versa). We will discuss how to avoid this issue. 3. Underwhelming Communication Performance compensation is often confusing. Clean, clear communications are essential to engaging and motivating your staff. We will provide an 8-step overview of a newly devised holistic communication process. 4. Shhhh! It's a secret. To Be Announced During Presentation There is one potential risk that outweighs all others. It is seldom discussed in our current environment. This single risk is the reason why executives, compensation professionals and managers must actively manage pay for performance. Simply rolling out a program leaves you vulnerable to attack. Join the presentation to learn more about this global, inescapable risk and how to reduce its impact. |
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Who Should Participate
HR compensation managers and directors; anyone involved in the organization's compensation process
What You Will Learn
The Top 4 Risks in Pay for Performance are identified as follows:
1. Incorrect Metrics on what drives performance
2. Poorly Set Goals
3. Underwhelming Communication
4. Shhhh! It's a secret. To Be Announced During Presentation
Recommended Resources
N/A Communities
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Presented by
Event Sponsors
Performensation
Performensation provides industry leading consulting and solutions for Executive, Equity and Performance-based compensation. We work with all sizes of companies and believe that your programs should as unique as your company.
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