Employee performance management has been undergoing a revolution over the past few years. Highly structured, year-end appraisals are being eliminated. Instead, business leaders are adopting a forward-looking, flexible mentoring and coaching approach. The “new and improved” method is designed to help companies navigate the accelerated pace of change all businesses are experiencing.
So, how is this revolution impacting compensation? What kind of pay strategies are being used with this new performance management approach? How are successful business leaders ensuring their compensation plans offer maximum flexibility without creating a need for constant reinvention?
In this webinar, we will answer all those questions and more. By attending, you will discover how a rewards plan can be both agile and enduring—and why that combination is essential in the hyper-change environment we are living in.
- The 3 business reasons companies are eliminating formal performance appraisals—and how they impact compensation.
- Why a Total Rewards approach to building an employee value proposition is more important than ever.
- How to build an adaptable pay strategy without creating compensation chaos.
- The essential role of a clear pay philosophy in aligning rewards with performance management.
- How to balance rewards for short versus long-term employee performance and company versus team results.
- How to create a compensation structure that ensures your pay approach will be both agile and enduring.