Compensation is not a silver bullet and implemented incorrectly, can drive the wrong behaviors which ultimately impacts profitability. The right compensation structure including base pay, total package, production incentives, bonus and deferred compensation will help attract and retain the right talent while aligning everyone around common goals.
Before implementing any changes to your compensation programs ensure that all other aspects of your talent management process are working effectively including:
Building upon this foundation you should review the various types of compensation to see if they could improve performance.
Each of these has pros and cons and there is no “perfect” program. Compensation programs need to change and evolve as the business grows.
Leverage our experience and models to help design your compensation systems.
An organizational structure that is aligned with your customers and has clear lines of authority will drive profitable growth.
Nothing will have a bigger impact on your long-term profitable growth than being able to identify, screen and attract great talent.
Succession planning at all levels in the organization is critical for long-term stability, career development and profitable growth.
When based on a solid competency model and with the right team training will have a better return than almost any other investment.
Detailing the competencies required for success in a role creates the foundation for interviews, reviews and training.
