An overview of approaches that tie rewards to performance, this course provides an understanding of the different strategies deployed by leading companies and how these programs are designed. Participants will come away with an understanding of the elements that lead to pay for performance program success and how and when to utilize specific programs to achieve desired outcomes.
We will share the basics of effective performance management programs – goal-setting, coaching, and assessing performance as well as how performance assessment is linked to pay delivery – in terms of base cash, short term incentives, long term incentives, and other forms of financial and non-financial rewards.
In this session you will:
- Learn about the key motivation/psychological theories behind pay for performance
- Learn the benefits, risks and trade-offs in different pay for performance methodologies
- Understand popular program designs and best practices in aligning compensation and performance management systems with business goals
- Understand the elements that lead to pay for performance success
- Ask questions and receive answers from industry experts