How to Find the Right Balance
If you want to attract and retain great talent, have your employees consistently hit their performance targets, and improve not hurt your company’s P&L—the answer to the “salaries versus incentives” question is important, is it not?
Some leaders believe that offering high salaries will attract the best people—and that those people will then lead the company to high levels of success. The P&L will then take care of itself. Others think that top performers prefer to be paid primarily on the results they produce—and that a heavy emphasis on variable compensation is better for the company also.
So, which is right?
In truth, no one rewards approach can possibly be good for every business, right? So, what are enterprise leaders to do?
In this broadcast, we answer that question. Learn how to blend guaranteed and incentive compensation in a way that rewards performance and is attractive to top talent, while still protecting cash flow and the P&L. We will resolve the “higher salary versus bigger incentives” dilemma.
In this broadcast, you will learn:
- How to determine the right balance between guaranteed and variable pay for your company.
- Why your pay strategy must be based on a value-creation model.
- How to create a compensation philosophy that effectively defines how value will be shared—and with whom.
- Why you must shift from paying incentives to sharing value if you want to survive in the new economy.
- How to construct a rewards plan that is both flexible and enduring—and can meet the demands of an ever-changing business environment and economy.
- What top talent will expect in a pay offer and how that expectation should influence your pay strategy.
- How to balance rewards for short versus long-term performance.
- How to develop value-sharing metrics that protect cash flow and improve the bottom line.
VisionLink has been designing value-sharing plans for businesses for 25 years. We have advised hundreds of business leaders in both good and bad economies. We know what works. In this broadcast, we share what we’ve learned with you.