An overview of approaches that tie rewards to performance, this course provides an understanding of the different strategies deployed by leading companies and how these programs are designed. Participants will come away with an understanding of the elements that lead to pay for performance program success and how and when to utilize specific programs to achieve desired outcomes.
We will share the basics of effective performance management programs – goal-setting, coaching, and assessing performance as well as how performance assessment is linked to pay delivery – in terms of base cash, short term incentives, long term incentives, and other forms of financial and non-financial rewards.
You'll learn:
- Learn about the key motivation/psychological theories behind pay for performance.
- Learn the benefits, risks and trade-offs in different pay for performance methodologies.
- Understand popular program designs and best practices in aligning compensation and performance management systems with business goals.
- Understand the elements that lead to pay for performance success.
- Ask questions and receive answers from industry experts
Originally recorded on December 08, 2018.
McMullen has several decades of experience as a total rewards practitioner and consultant. As a leader in Korn Ferry’s global total rewards solution group, McMullen is accountable for a wide variety of reward and performance management solution design, thought leadership, innovation and capability development initiatives. His consulting work focuses on rewards strategy, base salary, variable pay, performance management systems, work measurement, organizational structural design and organizational effectiveness programs. McMullen holds a bachelor’s degree in mathematics and an MBA from the University of Louisville. Previously, he held senior rewards roles with PepsiCo and Humana. He has served on the Chicago Compensation Association Board and has been a member of the WorldatWork Compensation Advisory Board, the Advisory Board for Compensation & Benefits Review and the Total Rewards Advisory Board for HR.com. McMullen has been quoted widely in the world media, is a leading speaker on rewards and HR issues and has contributed to a number of articles and books on rewards-related topics.
