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Citigroup Cuts Some Executive Bonus Payouts As reported by Bloomberg , Citigroup Inc. reduced bonuses to about 250 top executives in the final round of the “Transformation Bonus Program,” a three-year special bonus program that tied their compensation to the bank’s progress on risk and regulatory matters.

Companies that handled it best took a number of steps, such as: Defining a cross-functional and cross-geo steering committee to assess and design sales compensation changes;;Investing in digital capabilities to better administer, communicate and implement their sales compensation plans;;Simplifying their compensation plans by eliminating measures and mechanics; and;Improving the alignment of their sales compensation plans to overall business strategy (including changes in strategy), from a data-driven perspective, as opposed to relying purely on philosophy and “gut” beliefs.; Workspan: The pandemic has obviously affected the way companies and leaders approach sales compensation.

Action Items In order to create a coherent conversation on compensation, leading organizations now offer tailored training for managers on their role in how the compensation program works and how to communicate it effectively.

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Practice Exam C for the Certified Sales Compensation Professional (CSCP®) Designation Take this practice exam to help you prepare to earn your Certified Sales Compensation Professional designation To prepare to take the exam to earn the Certified Sales Compensation Professional (CSCP®) designation, we encourage you to first take one of our three practice exams.

Companies that were already benchmarking compensation had fewer changes to make, but faced stiffer competition for compensation talent, given the supply shortage in the market.

Editor’s Note: Additional Content For more information and resources related to this article, see the pages below, which offer quick access to all WorldatWork content on these topics: Employee Compensation;Executive Compensation;Finance and Budgeting;Sales Compensation; You have to login to perform this action.

For WorldatWork Members Global Compensation — Taming a Complex Challenge , Workspan Magazine article;The Role of Employee Ownership in Total Rewards Strategy , Journal of Total Rewards article;Identify and Build a Wide Talent Moat , Workspan Magazine article; For Everyone International Remuneration: An Overview of Global Rewards , course;Winning Talent with Global Benefits and Total Rewards , webinar;Building a Global Benefits Strategy Requires a Nuanced Approach with Expert Support , Workspan Daily article;Clear Communication Around Equity Shares Benefits Companies and Employees Alike , Workspan Daily article; NEW!

Best-in-class sales organizations consistently conduct mid-year sales compensation program audits, or health checks.

But, according to WorldatWork member James Harvey, managing partner of Alliance Compensation, compensation professionals should also consider what a promotion and a downgrade or demotion looks like in their organization, “then think about lateral moves and how they fit into employee-movement decisions.”