eHarmony Gets It! It’s About Professional Relationships

12 pillars sunset square (2)In today’s news, eHarmony announced that they are planning to expand from personal to professional matchmaking. Performensation has long held that finding the right people to work for your company is attuned to online dating. Like finding your true love, every employee wants to work at a company that “gets him or her”.

In the past, many employers held the power position. Companies believed that if they were providing jobs that paid a fair wage with decent working conditions, then people should be happy to work for them.  In today’s world, this is no longer enough. Just like Continue reading

Sales Compensation in a World of Solutions

Sales Comp in a World of SolutionsMany companies today know that customers are looking for more value. Haven’t you found that selling a simple product or service just doesn’t feel like “enough” anymore? Are you wondering how to adjust your strategy to increase your future success? With technology becoming increasingly complex, your customers need additional help understanding how things fit together.

As a case in point, Continue reading

The Best Ways to Retrieve and Organize Job Descriptions?

Question (orig. at WorldatWork)

Looking to understand what compensation professionals use to be more efficient  (or process) in retrieving, filtering and housing existing job descriptions as well as creating new job descriptions.  Would appreciate to hear the perspective from non-vendors.

Answer by Sam Reeve

There are a variety of document tracking systems that you could use to manage, check-out and update files.  I think these are great for large companies, but if your company has less than 400 unique positions you can manage these effectively using traditional files and folders. In most cases it is easy enough just to manage job descriptions like any other ongoing annual project.

I would suggest that you keep your documents in a shared folder and have published job descriptions in a pdf (or similar protected format) with version dates.  Unprotected working files are kept in folders shared by administrators of the project.

The shared published folder would contain your current PDF job descriptions organized by your job structure.

The administrative folder would include:

  1. the project plan,
  2. your job description template,
  3. job structure, and
  4. editable copies of all active and unpublished descriptions.

It is a great communication strategy to publish the job structure on the internal intranet with hyperlinks to the most current descriptions.  The job structure organizes your roles into business functions, which are subdivided into job families.  An example of this would be the job family of “Compensation” that includes roles sorted by level, like “Compensation Analyst”, “Senior Compensation Analyst”, “Compensation Manager”, etc.  This would all be included under the business function of “Human Resources”.

The project plan document includes all the jobs in your job structure with the version number and the date it was last reviewed.  In most cases we recommend that our clients review their job descriptions every 2 years, but this will vary depending on how fast the roles in your organization change over time.  Each year you will list the business functions that need to be reviewed and approved – for instance, you may focus on HR and Finance this year, then is Marketing, Sales and Legal next year, and so forth.

Hope this helps…

Sam

 

Communicating Pay Increases

communicating pay increasesOnce your company has decided on pay increases, the issue of communicating those raises to the employees becomes paramount.  The natural expectation is that it should be easy, right?  Pay increases are good news, after all.  However, certain considerations should be taken into account when discussing compensation with employees.

Here are the “Dos”

  1. Create a communication plan. Schedule Continue reading

The Dark Side of Pay for Performance

The dark side of performanceWhen evaluating employee performance, consider how goals were achieved.

In today’s competitive business environment, where so much depends on the bottom line, it is tempting to base employee performance evaluation criteria exclusively on production goals.

Did Janet in Marketing, for example, create a stunning layout that will be published in this month’s trade journal to launch our new product?  Yes? Then she may be Continue reading

Are You Rewarding Failure?

money linked to business process

by Sam Reeve, CCP, GRP

Even before the knowledge worker era, incentive programs have been a great way for companies to attract and reward proven performers.  Logically, pay for performance is a good way to motivate, drive and encourage employees to stay engaged.  However, these programs lose their effectiveness if the business fails to differentiate employees according to their performance contribution to the company.

According to the recent Talent Management and Rewards Pulse Survey conducted by Tower Watson, Continue reading

Global Expansion and the Importance of a Job Structure

Riding the Growth Curve

Several years ago, I worked for a company that was beginning to experience some significant growing pains brought on by its expansion into the global marketplace.  The young company I had joined had grown rapidly in the U.S. and was now looking for a stronger presence internationally.  Opportunities to open locations in Europe, Asia and Latin America had triggered a hiring phase unlike any the company had previously experienced and in the eagerness to expand; we overlooked the fact that we were rapidly outgrowing our own infrastructure.

DisorderOrder

It didn’t take long before the problems became apparent.  There was no process in place Continue reading

SWOT Your Comp Team

SWOT1In the increasingly complex business environment, it is easy to become too focused in the challenges of daily operations. To be successful, a compensation manager needs to continually improve on their ability to support their clients’ needs and improve performance. The SWOT (Strengths, Weaknesses, Opportunities, and Threats) Analysis is one tool that can help you assess your people and refine your service delivery model so that your compensation group becomes a cohesive, highly performing team. Continue reading