Salary increase budgets remain stuck at three percent and indications are they aren't likely to increase soon. If the three percent budget numbers aren't changing, how can companies make base pay and compensation more effective overall for both the company and its employees, and among employees, for both the steady performers and the stars? How can companies improve and optimize their investment in compensation?
Companies and their HR teams need to address the near universal discontent with the annual merit increase cycle and traditional approaches to salary management in order to make the significant investment of time and monetary resources in the process more effective than is the case today.
Adopting the approach and tactics recommended in this new virtual course can increase the ROI on companies' significant investment in compensation in terms of better attraction, retention and engagement outcomes.
Participants will takeaway key actions that will help them start to shift the paradigm on compensation management from a traditional to a modernized approach.
Participants will have concrete guidance on changing the way base pay programs are designed and delivered, focused on:
• Emphasizing variable pay for performance: right vehicle, right time horizon
• Understanding the retention duration of critical skills
• Being aware of unconscious biases: don't replicate the past
• Paying attention to the day-to-day total rewards experience
Please note: Prices are subject to change without notice. All sales are nonrefundable. Playback and the on-demand recorded session will be available 30 days following the live event, and you can access the session for 90 days. Your 90-day access begins the day of order.