This week's Compensation Daily Advisor covers merit allocation, performance matrix, and compensation mistakes.
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Get Your Report Now!The Seven Merit Allocation Strategies—Strengths and Weaknesses
There are seven basic merit allocation strategies, says Consultant Whitney Herrington. Compensation managers should be familiar with them all, including when they are appropriate (and when they are not).
Pay for Performance Matrix with Maximum Penetration Targets
Yesterday’s Advisor featured the first 5 of Consultant Whitney Herrington’s 7 alternatives for deciding on merit pay. Today, alternatives #6 and #7.
Once More with Feeling … and Paying
Other than paying the minimum wage, paying overtime is the most basic wage/hour rule there is, yet here are companies like Shell Oil and LinkedIn paying penalties of $4.6 and $6 Million. A word to the wise?
Here We Go Again with Basic Compensation Mistakes
Yesterday’s Advisor featured two big-name companies—Shell Oil and LinkedIn—and their expensive wage and hour woes. Today, two more word-to-the-wise cases.
Don’t Wait for Permission—Take Action
It’s not uncommon for me to say, “I’d rather hire someone who will ask for forgiveness than someone who must ask for permission before taking action.” If you’re going to accomplish anything in life, you must be willing to act. And when you do, things don’t always turn out exactly as you would like. Sometimes you must step back, alter your course, and try again. But give me the person who is prone to action. It’s like the great race car drivers say: “To finish first, you must first finish.” And to finish, you must get off the starting line.