Is there a compensation issue as head-spinning as pay for performance? While many companies implement pay for performance, few do it well – and they know it.
This research-backed session explores two interrelated topics. First, we discuss how technology enables companies to address pay-for-performance methods in new ways by incorporating a wider range of performance and reward methods and techniques. Second, we explore psychological research into the relationship between pay for performance and motivation and target issues that underlie the success or failure of different pay-for-performance strategies.
Which rewards methods best drive motivation and behaviors? What is the appropriate level of transparency when it comes to pay and performance systems? This session provides guidance on various options to advance your pay-for-performance model, address the level of transparency and adapt to the needs of employees.
In this session, you'll:
- Understand the new methodologies being used to assess employee performance.
- Review the current landscape of generational differences in today’s workforce, including their rewards preferences.
- Learn how technology has improved performance measurement and rewards disbursement.
- Explore the psychological impact of various rewards mechanisms.
- Receive practice recommendations on addressing rewards needs based on various use cases and scenarios.
Originally recorded on September 18, 2018.
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