Even with the best-designed programs, companies face challenges in making incentive and merit-pay programs effective in today's economy.
The practices can be time-consuming and arduous to implement, but the time taken to focus on talent management has paid off in ConnectiCare's overall success, an executive says.
For many workers, perks are now no longer enough. Recently, 'it has been all about the base wage or salary,' a Buck Consultants principal says.
Hartford's Liam McGee had come under fire this year from the president of hedge fund manager Paulson & Co. and Hartford's largest single stockholder, who urged Hartford to break up the company in order to boost shareholder value.
Chrysler Group hourly and salaried workers will receive profit-sharing and performance bonuses on Feb. 10, just nine days after the automaker reported a $183 million profit for 2011.Read More
The results from our employee survey identified three areas of concern: rewards and recognition, career advancement, and work organization/work flow. Employees are not satisfied that their pay is equal to their workload, and also complain about a lack of advancement opportunities. The issue of poor work organization/work flow pinches on the first two issues. How should we address these issues—one at a time or all at once?
—Feeling Powerless, assistant manager, manufacturing, Southeast Asia
To reward their workers, nearly half of HR executives are using prepaid gift or credit cards as part of incentive programs and wellness initiatives.Read More
Employers are burying their heads in the sand on job security and work stress—at their own peril.Read More
Retaining top talent is emerging as a big issue, but our organization can't rely solely on increasing salaries and bonuses to keep our best people. For one thing, our competitors are often larger and can offer more money. What steps could our not-for-profit take to increase the odds of retention? How do we adopt a total talent management strategy?Read More