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Thought Leader Interview with Jay Schuster and Pat Zingheim: High Performance Pay, Fast Forward to Business Success
Aligning pay to performance is no small feat. Jay Schuster and Pat Zingheim recently discussed with David Creelman what it means to link total rewards systems with high performance to create a top performing organization.
Jay and Pat have a recent book called "High Performance Pay, Fast Forward to Business Success," which they released with WorldatWork, but this is not, by any means, their first book. They have a couple of other major books in the compensation area. "Pay People Right" was one of the first books I saw that was a good practical, down to earth book on using compensation effectively. "The New Pay" was another one.
DC: The issue of pay for performance has been with us for quite a long time. Companies have been making some progress, but it in many cases it's slow progress. Pat and Jay are going to explain to us why the progress has been slow and how we can do it better. We will get into the specifics of what you need to do to align pay with performance and then we will go into their total rewards model.
Let's move to our first poll.
PZ: The question is, "Does it take one month to learn if a person is a poor performer and five years to terminate them?" If you ask an executive or an HR person, chances are they will say they know a poor performer within a month of their being hired but it takes a long time to weed them out.
Our poll indicates that we have about half and half.
DC: That is quite a clean split; better than I would expect.
JS: Yes, that surprised me. It is encouraging that people would actually make decisions and remove people that are proven to not be successful. That is very encouraging..
DC: That may be representative of a change where HR is becoming more accountable and maybe a little bit more proactive about performance issues. Jay, do you want to ask this next question?
JS: "Does everyone expect a raise every year? Is it viewed as an entitlement or does it have something to do with differences in performance from year to year?"
These poll results are interesting: 'base pay increases are expected.' They are probably viewed as an entitlement. My guess would be there is very little reward opportunity, except in about a small portion, 18% of the participants. So that says that base pay is not a way to pay for performance in this group.
DC: Tell me more about the culture of entitlement.
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Download Available for All Registered Members:
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 David Creelman is CEO of Creelman Research and a well-known writer, research and speaker on critical issues in human capital management. David’s previous work includes Chief of Content and Research for HR.com, in addition to working as a management consultant in Canada and Malaysia, most notably with the Hay Group.
David holds an MBA from the University of Western Ontario and has also taught Rewards and Performance Measures at the University of Malaya executive MBA program. David’s clients include think tanks, consultants, academics and organizations from around the globe. His current focus, in collaboration with Dave Ulrich, is on what organizations should report about human capital intangibles to the financial markets (see www.rbl.net "What the Fortune 50 Tells Wall Street").
David Creelman can be reached by email at creelmanresearch[at]gmail.com |
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Join us for our next live Thought Leader interview with
Rick Lash on Developing Better Leaders Faster
March 26, 2007 1:00 - 2:00 p.m. ET
In this live webcast you will learn:
- The problem that is not going to go away
- The top 20 companies for leaders
- The seven practices that make a difference
- The role of commitment and preparation in winning the war for leaders
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This upcoming webcast, and its MP3, and PowerPoint downloads are free for ALL Members of HR.com
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If you enjoy the Thought Leader interviews, then you will enjoy our recently published book,
Thoughts From The Top: A Collection of Interviews with Business Gurus
by HR.com Publishing
Thoughts From The Top: A Collection of Interviews with Business Gurus is an amazing anthology of higher thinkers including, David Ulrich, Kenny Moore, Marshall Goldsmith and Erin Brockovich. It's 348-pages of exclusive interviews with top experts discussing the proven strategies, the philosophies, and the best methods they have used to strengthen their organizations. Each chapter features a different expert who reveals his/her best practices to help professionals deal with the people side of business.
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