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Compensation Related Topics
What’s Ahead for HR in 2017?
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OCTOBER 19, 2016
Early technologies aimed to automate and integrate existing processes, streamlining most administrative tasks across benefits and compensation and talent management. By Derek Irvine. Recognize This! Trends in HR for the year ahead will emphasize empowerment, the employee experience, and ultimately a more human workplace. These trends deeply resonate with the WorkHuman movement and community.
Answering Important Questions – How Does Social Recognition Work in Manufacturing?
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OCTOBER 25, 2016
Join me and Jennifer Sweda, compensation manager for power management company Eaton Corporation , on Thursday, October 27, at 2:00pm Eastern to learn how Eaton uses E-STAR, their social recognition program, to engage a workforce of more than 95,000 employees around the world – with 50% of those employees offline. ( You can register for the webinar here. ). by Traci Pesch.
Compensation Cafe: Top 5 Reasons for Bad Days at Work
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NOVEMBER 11, 2015
As I say in my post on Compensation Cafe: “The ROI factor involved in reducing the number of “bad days” experienced by employees is not insignificant. by Derek Irvine. Recognize This! — Bad days at work are inevitable, but can be reduced and impact lessened through support, recognition and positivity. lack of help and support from my boss (40%). Negative coworkers (39%).
Compensation Cafe: How to Develop Consistent Performers
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AUGUST 4, 2016
As I write in this post on Compensation Cafe , a culture of reward and recognition can enable leaders to reach deeper into this group through smaller, more frequent moments. By Derek Irvine. Recognize This! – A combination of coaching and social recognition can help consistent performers to realize their potential and reach higher levels of performance. It has become commonplace for businesses to differentiate between high performers, consistent performers, and those who need more development. The second strategy emphasizes building potential over time through social recognition.
The Performance Management Storm: Four Macro-Trends Driving the Change
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have evolved, the basic tenet of “rate and compensate”. development and compensation in a. 1Why Your Company Will Need to. Rethink Performance Management eGuide Part 1: The Argument. for Change 2 3About this Guide Organizations are increasingly. moving from traditional performance. management systems (organized as. an annual review process) to newer. performance development systems.
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Compensation Cafe: Millennials on the Market
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FEBRUARY 19, 2015
” Yesterday on Compensation Cafe , I shared a recent study from the Federal Reserve Bank of New York (reported in the Washington Post), that shows how much you earn in the first 10 years of your career is a primary factor in determining your lifetime earnings. Are we compensating them commensurate with their increasing duties? by Derek Irvine. Recognize This!
Compensation Cafe: An Active Approach to Core Values
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SEPTEMBER 9, 2016
As I wrote in a recent post on the Compensation Cafe , core values can often fall short of the goals for which they were developed. By Derek Irvine. Recognize This! – A social recognition solution aligned to core values helps ensure that those values are lived by all employees and actively managed by leaders. Have you thought about where the core values at your company came from?
Compensation Cafe: What is the Right Culture for You?
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MAY 26, 2016
Underlying assumptions can have a big influence on what that culture ends up looking like, however, as I write in a recent post on Compensation Cafe. By Derek Irvine. Recognize This! Figuring out the right culture means balancing high-level goals alongside assumptions about how best to achieve those goals. One of the few remaining areas of competitive advantage available to businesses is unleashing the potential of human performance at work. culture of recognition, on the other hand, assumes workers are motivated to bring their entire selves to work and strive for their best work.
Compensation Cafe: Power of Positivity at Work
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APRIL 2, 2015
This week on Compensation Cafe I shared research out of the University of Michigan on how “positive practices benefit the company.” by Derek Irvine. Recognize This! — Research shows positive practices benefit your company, simply by caring for others. What’s the real Power of Thanks ? But it’s the actual positive practices themselves that interest me.
The Performance Management Storm: Four Macro-Trends Driving the Change
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have evolved, the basic tenet of “rate and compensate”. development and compensation in a. 1Why Your Company Will Need to. Rethink Performance Management eGuide Part 1: The Argument. for Change 2 3About this Guide Organizations are increasingly. moving from traditional performance. management systems (organized as. an annual review process) to newer. performance development systems.
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You Asked: Answering Your Questions about The Power of Thanks (Part 1)
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APRIL 10, 2015
Q1: A company maintains its most valued assets not by compensation, but by appreciation? There’s no question that fair compensation matters. But once those needs are met, additional compensation doesn’t necessarily lead to the higher orders of Maslow’s hierarchy of needs for self-esteem and self-actualization. by Derek Irvine. Recognize This! There are. Motivation.”.
Keeping Work Human in Tough Times
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APRIL 11, 2016
This got me thinking about another potential paradox of tough times that leaders can face: the need to emphasize the value of a human workplace culture while also making difficult decisions and operational cuts, often directly affecting compensation and benefits. By Derek Irvine. Recognize This! And yet, like in the article above, it’s a smart decision.
Compensation Cafe: The Contradiction of Annual Incentives
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FEBRUARY 16, 2016
Click over to the Compensation Café to read the full post and why I think that annual incentives may actually be a contradiction in terms, which helps explain the ineffectiveness. By Derek Irvine. Recognize This! Incentives are only effective when they match the timeframes of employees’ motivation to perform. Read the full post and let me know what you think.
What Do Employees Want Most? Appreciation and Good Relationships at Work
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DECEMBER 15, 2014
But one particular finding struck me as most enlightening – regardless of desire to relocate, all respondents “are putting more emphasis on intrinsic rewards and less on compensation.”. Instead, company rewards are still largely built around compensation, and the culture inside many companies remains hierarchical, with complex guidelines, limited flexibility, and highly political agendas.
Leaving performance reviews behind: Where to start [Guide]
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prioritizing them over compensation and. 1Making Dynamic Performance. Development a Reality eGuide 3Introduction Does your organization want to adopt. more dynamic approach to managing. performance and developing employees? We see a stampede of organizations. moving in this direction. At the same. time, we also see that, all too often, managers in such organizations are simply. guidance.”.
Compensation Cafe: Empowerment is Great, But Make Sure You Have These Things First
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FEBRUARY 25, 2016
As I write in a recent post on Compensation Café: Without the appropriate scaffolding, however, many of these improvements can reveal shaky foundations rather than allow the company to build upwards. By Derek Irvine. Recognize This! Empowerment removes barriers to unleash employee motivation. But it can be tricky to implement effectively across all employees. Click To Tweet. The solution?
Compensation Cafe: Instead of Employee of the Month…
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FEBRUARY 12, 2015
My post this week on Compensation Cafe was inspired by the HR Capitalist, Kris Dunn. Read the full Compensation Cafe post for more on my two ideas for what to do about tired Employee of the Month programs: Get rid of them. by Derek Irvine. Recognize This! – Employee of the Month programs don’t deliver the recognition employees deserve. In his blog, he shared a couple ideas to revitalize “lame” Employee of the Month programs and asked for more ideas. What do you think about Employee of the Month programs?
Compensation Cafe: Pay Transparency as One Part of a Larger Culture
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MARCH 16, 2016
As I write in this post over at Compensation Cafe, pay transparency is one aspect of crafting an employee experience that benefits from an overall emphasis on transparency and participation. By Derek Irvine. Recognize This! Modern organizations seem to be moving towards less structure and more transparency. Here’s how: …pay transparency is actually one part of a larger culture.
Latest SHRM Survey Supports Employee Need to “WorkHuman”
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APRIL 29, 2015
wrote about it in more depth on Compensation Café today. by Derek Irvine. Recognize This! What makes us happy, satisfied and engaged at work? Deeper connections and relationships with colleagues and a stronger sense of meaningful work. SHRM released its annual “Employee Job Satisfaction and Engagement Report” yesterday. Click over to read more.). The report is quite interesting.
Why You Need to Revisit Maslow
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JANUARY 27, 2016
The third lever- recognition – represents a much smaller slice of the overall compensation picture (typically around 1-2%), and yet has the larger potential impact in reaching across the higher values of belonging, esteem, and self-actualization. by Derek Irvine. Recognize This! Maslow’s hierarchy of needs has staying power. Where do we stand right now?
Compensation Cafe: Give Your Employees the Benefit of Space
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NOVEMBER 18, 2014
Today on Compensation Cafe I wrote about the mostly negative impact of open offices and how they actually detract from stated goals of increased collaboration, discussion and innovation. Employee Engagement compensation cafe office space open office by Derek Irvine. Recognize This! – We spend more time at work than anywhere else (while awake). The reality is quite different.
Compensation Cafe: Keeping Investments in People Top of Mind
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APRIL 27, 2016
In today’s post on Compensation Cafe , I discuss what these trends mean for the full range of investments that companies make in their people- spanning salary, incentives, and benefits- and how difficult it can be to keep those things top of mind. By Derek Irvine. Recognize This! – The investments that companies make in employees can be difficult to keep top of mind.
What GE, Accenture, Adobe and Microsoft Have in Common
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AUGUST 18, 2015
wrote a couple of posts on Compensation Café about decoupling pay from the performance review process. by Lynette Silva. Recognize This! More and more companies are turning a critical eye on the traditional annual performance review process as the primary means for employee feedback. This month, Derek Irvine (our chief blogger here on Recognize This! How does this new approach work at GE?
Bersin Says “Thanks” Critical for Employee Engagement
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AUGUST 31, 2015
In my last two posts on Compensation Cafe, I shared important research from IBM Smarter Workforce (more on that later this week) and from Bersin by Deloitte. by Derek Irvine. Recognize This! — There are many drivers of employee engagement, but feedback, recognition and “thanks” lead the charge. What you contribute has great value, meaning and purpose, and you do it well.”
Compensation Cafe: What’s Happened to Worker Productivity?
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AUGUST 12, 2016
There are a couple of opinions out there, summarized in a recent post I wrote on Compensation Cafe: One argument is that all of that innovation and technology aren’t doing much to help productivity. By Derek Irvine. Recognize This! –. Numbers have come out recently from the Bureau of Labor Statistics on worker productivity, and the conclusions aren’t all that positive. According to the report , productivity has been on the decline in the US for the previous four quarters at an annualized rate of 0.4%. Yet, number of hours worked over the same period have increased by 1.5%.
Compensation Cafe: 6-Hour Work Day?
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OCTOBER 15, 2015
shared more in my post on today on Compensation Cafe , discussing companies who have achieved the six-hour workday by eliminating busy work, reducing distractions, and making sure the most important work gets done first. (Of course, this also necessitated a discussion of TPS reports.). by Derek Irvine. Recognize This! WorkHuman 6-hour workday Sweden
Lessons from “Best Companies to Work For”
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MARCH 10, 2015
Yesterday on Compensation Café, I shared three commonalities experienced by companies that appear on Fortune’s “Best Companies to Work For” list: Better stock performance. by Derek Irvine. Recognize This! Great companies are great only because of the people in them. Higher retention of top employees. Increased employee energy and engagement. Making these lists is not what matters, though.
5 Human Truths in the Modern Workplace and How to Address Them
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JULY 7, 2015
Looking at Maslow’s Hierarchy of Needs , compensation only satisfies the most basic of needs. In the average company today, the way people are compensated has very little to do with great performance. by Derek Irvine. Recognize This! – We are all human. For the majority of our history at work, we’ve mostly relied on our muscle for hard, physical labor. Most at SHRM could not.
Compensation Cafe: What Irrational Humans Get Right
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SEPTEMBER 24, 2015
mention this today to point you to my post on Compensation Cafe where I unpack a powerful statement made by Harvard Business school professor Francesca Gino in a recent Harvard Business Review article. Check out the full Compensation Cafe post for more. by Derek Irvine. Recognize This! — By giving away to others, we reap far more for ourselves. Shocking, I know.
Compensation Cafe: Why Friends at Work Matter
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JANUARY 29, 2015
couldn’t say everything I wanted to about the importance of friends at work in my post on this blog last week , so I continued the theme today on the Compensation Cafe blog. As I conclude on Compensation Cafe: “Recognition, as a key component of Total Rewards, is a powerful, positive way of strengthening ties between employees. by Derek Irvine. Recognize This!
Compensation Cafe: Recognition in Support of Talent Mobility
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MAY 16, 2016
As I write in a recent post on Compensation Cafe , this solution is well-suited to respond to several converging trends affecting the workplace: The talent market is more transparent than ever, offering an endless supply of potential opportunities. By Derek Irvine. Recognize This! Internal talent mobility can reinvent the traditional career, but will require a shift towards more flexible solutions like social recognition to be successful. In light of this trend, and the need to reinvent how we think about careers, Josh Bersin of Deloitte has advocated for internal talent mobility.
Compensation Cafe: Superpower-based Compensation
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JULY 12, 2016
Recognize This! – As work roles become more fluid, compensation needs to transform to include solutions that are more social, dynamic, and engaging. came across an interview with Tony Hsieh the other day, as I wrote recently in this post on Compensation Cafe , where he was describing the experiment of holocracy at Zappos and what the implications were for HR practices. One interesting comment stood out when he described his thinking on how compensation was being transformed. What is your take on how compensation is or should be transforming? By Derek Irvine.
Compensation Cafe: Why Work Is More than a Paycheck
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JULY 14, 2015
My last two posts on Compensation Cafe addressed different aspects of this truism. by Derek Irvine. Recognize This! — Work can and should be more than a means to a paycheck. The benefits to us as individuals accrete exponentially with such an outlook. For too many and for too long “work” has meant “a place to get a paycheck and leave as quickly as possible.”
Compensation Cafe: A Question of Measurement and Value Creation
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JUNE 22, 2016
Nonfinancial metrics are increasingly used in compensation formulas; recent research and trends in crowdsourced data may improve the value of these trends. Getting compensation formulas right can be challenging, ensuring that leaders maintain a balanced focus on short-term results as well as long-term value creation. The availability of nonfinancial metrics that are crowdsourced helps to answer the second part of the question, cascading the use of those metrics in compensation formulas across the company to align behavior and drive long-term value. By Derek Irvine.
Compensation Cafe: Fair Pay, Differentiated Rewards
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APRIL 21, 2015
intentionally stirred the compensation and recognition pot in my last post on Compensation Cafe. Performance Management Strategic Recognition & Company Values compensation compensation cafe meric increase merit budgets recognition rewards by Derek Irvine. Recognize This! ” Jim Brennan: “ The Pareto Principle still applies. “ E. K.
Compensation Cafe: Have You Thought About Former Employees Recently?
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MAY 5, 2016
Responding to some recent research along these lines in a post on Compensation Cafe , I make the argument that: Compensation professionals can have extraordinary impact [on transitioning employees] through well designed total reward portfolios that drive positive financial and emotional experiences. By Derek Irvine. Recognize This! Click here to read the post in its entirety.
Compensation Cafe: Rethinking Mental Health Days in a WorkHuman World
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OCTOBER 28, 2015
The topic of my post today on Compensation Cafe , the survey found a top reason for taking a fake sick day was simply feeling overwhelmed at work. In the Compensation Cafe post, I dive into how we can help overcome these dual challenges and encourage employees to take the time they need to rejuvenate or recuperate as the case may be. by Derek Irvine. Recognize This!
Compensation Cafe: Keeping Top Employees in an Era of Disappearing Raises
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JUNE 23, 2015
Without directly intending it, my last two posts on Compensation Cafe addressed how to keep and reward your top performers in a compensation world where raises seem to be disappearing. Read both posts in full, then come back here and tell me, what is the best way to compensate, reward and recognize people of all skill levels and contribution histories? by Derek Irvine. As Ms.
Compensation Cafe: Maslow’s Hierarchy of Needs Is More Fluid than You Think
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JANUARY 7, 2015
Earlier this week, I shared on Compensation Cafe Maslow’s own opinion, “We have spoken so far as if this hierarchy were a fixed order but actually it is not nearly as rigid as we may have implied.”. Recognize This! – Frequent, timely, and specific recognition and appreciation are integral to achieving personal, team, departmental and organizational goals in 2015. Every new year brings about a time of reflection, especially on what we want, need and desire in the coming months. By the hierarchy is not so, well, hierarchical. How do you view Maslow’s Hierarchy?
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