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Sales compensation designers apply a set of uniform principles to each unique job to arrive at the best incentive plan design.

However, it’s important to note that the research on employee participation in goal setting is mixed, with other research finding that supervisor-set goals are more powerful than self-set goals (CIPD 2016).

“Employee resource groups and other DEI efforts such as having a diverse set of candidates or interview panels to promote diversity and belonging tend to have a lower risk profile,” Siu said.

As a result, when it comes to setting compensation for new hires in comparison to their colleagues, it may be advantageous to mind the midpoint of salary ranges, said Lori Wisper, managing director at WTW.

Working with management, boards have to sort through all of the noise — opinions, ideas and information — and make rational, informed decisions about how to set priorities, allocate resources and make investments.

;Set boundaries.

For WorldatWork Members The Outperformance Stock Unit: Meaningful Long-Term Incentives at Minimal Initial Expense , Workspan Magazine article;Exploring Executive Compensation Decision Making , Journal of Total Rewards article;Incentive Goal Setting is Becoming More Flexible , Journal of Total Rewards article;Executive Compensation Update: Key Developments and Future Insights , on-demand webinar; For Everyone The CEO Left.

;Leverage the simple INDIRECT formula to bring in a set of regional pay ranges based on user choice.

The majority of respondents — 53% — believe standards for employer benefits should be set at the federal level, but that percentage has trended downward from a high of 60% in 2018.; NEW!

The BOK represents the complete set of knowledge and skills required for professionals working in the sales compensation field.