Incentive compensation

YOUR LINK HERE:

http://youtube.com/watch?v=OiiKIJAsaa8

What are some examples and pitfalls of incentive compensation? And how do you get incentive compensation right? Communication, referring to your compensation philosophy, and letting your bonus program fulfill its purpose are just some of the things we discuss in this episode. • There are definitely incentive compensation challenges to avoid too, which we also discuss like favouritism and allowing the incentive to, psychologically, become base pay in the minds of employees. David Pan is a Director of Global Compensation and Analytics and has so much to share! • 0:00 Intro • 1:05 Key principles of incentive-based compensation • 2:44 Bonuses (and compensation philosophy) • 4:05 Who should be incentivized? • 5:58 Forms of incentive pay • 8:06 How to avoid favouritism • 10:33 How to drive the right behaviour • 12:55 Managing expectations of a bonus • 15:05 What organizations get wrong most often • • Find me (Andrea) at www.thehrhub.ca. I'm an HR consultant as well as YouTuber and provide a wide range of consulting support.

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