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Best Practice

Best Practice

Q&A about Base Pay Rewarding

 Performance

Six Reward Principles

Four Total Reward Components

Improving Variable Pay or Incentives

 

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Best Practice

Questions & Answers from WorldatWork Webinar March 29, 2007:
Can Base Pay Really Reward Performance? Yes, It Can!

By Jay R. Schuster and Patricia K. Zingheim
Get answers to your unanswered questions during the Webinar and find out what others want to know about performance pay.
read more...

Six Reward Principles
As a result of our consulting and research experience, Pay People Right! Breakthrough Reward Strategies to Create Great Companies outlines six Reward Principles that great companies believe result in the successful alignment of total rewards and total pay with their business strategy. read more...

Four Total Reward Components
Companies must provide the workforce with an effective value proposition that involves the four total reward components outlined below. Companies can either balance the four components or emphasize one over the others, but they must provide a total reward package that attracts the type of talent they need and want. For example, some companies may be weak in positive workplace but have very strong total pay to make up for the difficult work environment. Other companies may have weaker total pay but develop people, provide a positive workplace, and have a compelling future that people want to support and be a part of. read more...

Improving Variable Pay or Incentives
Most organizations have variable pay or incentives. The major pay change during the 1990s was providing variable pay or incentives to most or all levels of the workforce—not just executives and salespeople. Incentive plan design has continued to evolve since then, including improvements in measurement and goal setting, increased incentive participation, increased incentive opportunity, and refinements in other design features to optimize performance results. Take this quiz to determine if variable pay is doing all it can do for your company. read more...

 

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