Motivation on the Run

Have you ever thought about the ROI (return on investment) of your compensation plan? You haven’t? Well, this may be the opportunity to get a quick review of what is involved in the process. This article has ten steps to get you started.

10 Steps to Maximizing ROI in Employee Pay
Employers should make market data a smaller part of their compensation decisions and should focus on performance-driven strategies that will motivate and retain employees, said Brad Hill of Tandehill Human Capital during WorldatWork’s Total Rewards Conference in Anaheim, California.

Hill outlined 10 steps employers should take in order to maximize their return on investment in employee pay.

Here is a quick preview of the steps, but you’ll have to go read the reasoning behind each at the site.

Step 1: Compensation will become part of the employment value proposition.
Step 2: Market pay data must ride in the back.
Step 3: Every dollar in base pay increase will be viewed the same as a $5 bonus.