Compensation is most effective
when it appropriately reflects the effort, energy and drive of each
individual and is a driver of growth and personal expansion. When staff
are told to work harder and do not receive any additional financial
or non-financial reward from their efforts, they'll be reclusive when
delivering top-notch performance.
Compensation & Rewards
Integrity: Constantly Receive Top Performance at Half
the Cost
People work harder when they know that they'll receive fair and adequate
recognition for their efforts. Ensure your staff perform at their best
and get appropriately rewarded by tying in the outcome of their performance
to how much or what type of reward they receive.
The HR 3.0 Compensation &
Rewards Integrity guideline erases unfair compensation practices and
promotes fairness through more defined means of measurement. Any work
that is done above and beyond their expected capacity is appropriated
allocated, and staff are rewarded accordingly.
It helps boost creativity and
rewards those who actively apply themselves beyond conventional means
and capacity by encouraging involvement and participation at each interval.
HR 3.0 Compensation &
Rewards Integrity Guideline
The HR 3.0 Compensation & Rewards Integrity Guideline puts into
place special measures in developing effective compensation and recognition
initiatives under HR 3.0 methodology as your primary compensation and
recognition tool. It puts a solid basis on gainsharing and profitsharing
as its main objective.
This guideline includes the following
practices:
• Job evaluation
• Job description revision
• Salary Survey/Market Research initiatives
• Profitsharing-base creation
• Strategic links to objectives and goal-setting techniques
• Compensatory weighing and rating
• Performance-based methods
• Feedback & communication
• Recognition & rewards assignment and distribution
Compensation, such as profit
sharing, Profit sharing fosters growth, rewards creativity and optimizes
performance and acts as a filtering device to remove the underperformers,
keeping the high-performers. It acts as the perfect catalyst to inspire
performance excellence by giving increased value to the amount of performance
and energy invested by staff.
Involving staff in the creation
and direct development of their compensation makes it easier to spur
dedication, foster growth and generate new ideas. We all like to get
paid for the amount of effort we put in and be recognized for it.
Take the opportunity to show
your staff you value their input and effort. Contact
us today for your free assessment.
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