This week, the Compensation Daily Advisor discussed turnover, bonuses, and management styles. Here’s the Compensation Daily Advisor week in review.
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Get Your Report Now!‘Fire the Slugs’—That’s the Best Turnover— “There’s good and bad turnover,” says management expert Jeff Cortes. Firing a non-performer—a slug— is good turnover. But when a top performer leaves to go elsewhere and your organization is left with a huge void, that’s bad turnover.
No Nonsense Retention: 80% Open Door Policy—Consultant Jeff Cortes offers a few more insightful tips on retention and engagement in the workplace.
Bonuses and Overtime—One of the Most Frequent Failures in Comp—Bonus programs are great, allowing pay for performance and avoiding the cumulative effect of raises, but they are also a primary interest of enforcers, because their treatment is often incorrect.
Bonuses Always Included in Overtime, Except …—The FLSA provides for several narrow exemptions from the requirement that bonuses be included in an employee’s regular rate of pay. It’s the employer’s responsibility to prove that a payment meets one of the exemption requirements.
Armchair Manager: What Sports Can Teach Us About Management—One of the reasons I enjoy sports is the human dynamic at work in every sporting endeavor, says business and leadership blogger Dan Oswald. At different times and in different sports, an athlete may do battle with another competitor, the elements, or even with himself and his will. This fascinates me, says Oswald, CEO of BLR, offering his thoughts on sports and management in a recent edition of The Oswald Letter.
BLR's Compensation Daily Advisor is a free daily source of compensation tips, news, and advice.