Optimizing Performance Pay and Managing Compensation Change
** Nonprofit and public sector employees are eligible for a 15% discount on tuition for this course.
** If you need an alternative to registering online or are a member of the ILR Alumni Association, please click here for information on registration procedures.
A compensation philosophy centered on performance-based pay sends a message of accountability and establishes expectations of employees. But, the less prepared an organization is to manage this approach, the more difficult execution will be. Managing employee expectations plays a critical role. Employees need to clearly understand what is expected of them, and how meeting those expectations will be rewarded. In this process, it is essential to recognize the divergent values that different groups of employees place on compensation and how to best engage them in strengthening the pay and performance link.
This two-day course will outline how to build the appropriate contextual framework for optimizing the change process of aligning the organization's peformance goals with employee behaviors and preferences. Strategies for communicating compensation change associated with performance-based pay systems will be discussed. Real-world scenarios illustrate how to achieve business objectives and strategic ambitions. Emphasis is placed on considering customized action plans, rather than “one size fits all” solutions.
Who Should Attend?
This course is designed for compensation practitioners, analysts, managers and experienced HR professionals and business partners who want to improve their capabilities and insight across a broad spectrum of pay-for-performance considerations.
What is the Course Curriculum?
Designed in collaboration with senior faculty at Cornell University’s ILR School, this course offers the perfect blend of academic study and practical application. The course content includes case studies to illustrate key concepts, and is underpinned by an evidence-based, social science approach.
Topics addressed in this course include:
- Aligning pay mix, organizational goals and divergent employee values and preferences
- Effectively communicating with employees and managing their expectations
- Examining common challenges associated with implementing or strengthening a performance-based compensation system
- Considerations in successfully bringing change to the pay system
How will my organization and I benefit?
Participants will leave the course with an improved capacity to analyze and evaluate the efficacy of performance-based pay systems. Organizations can benefit through improved allocation of financial and human capital resources and a richer understanding of the effects of pay for performance on the success of their operations.