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.
Tom is Senior Client Partner and Global Total Rewards Leader for Korn Ferry based in Chicago. He is accountable for guiding Korn Ferry’s total rewards research, thought leadership and go to market initiatives. His client consulting work focuses primarily on supporting clients in their total reward strategy and program design, work architecture, performance management and organization effectiveness priorities. He also leads Korn Ferry’s pay equity and transparency practice in the U.S.
Tom holds a B.S. degree in Mathematics and a master’s degree in Business Administration from the University of Louisville. He is a frequent author and speaker on total rewards and organization effectiveness topics. He has served on advisory boards for the Chicago Compensation Association, the WorldatWork Compensation Advisory Board, HR.com Reward Advisory Board and the Advisory Board for the Compensation and Benefits Review
