Tom McMullen Podcast: Compensation Aspects of Rating-less Environment

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Tom McMullen is a Senior Client Partner and Rewards Expertise Leader for Korn Ferry Hay Group with 30 years of experience.

Our discussion focused on compensation aspects of rating-less performance management. I also asked Tom what trends and topics his clients are dealing with at this point.

Topics that compensation professional deal with:

  • Efficiency, effectiveness and connectedness
  • Assessing effectiveness of C&B programs
  • Pay Equity
What changed over the time Tom has been in consulting:
  • we live in a sped-up world - turnaround time is faster than it’s ever been
  • life-cycle of business strategy shortened and thus, talent and reward strategies need to follow
  • simplification of messages
  • best reward programs are not differentiated by sofisticated strategies, but by what can be implemented and embeded in an organization and how they link to business strategies
  • what differentiates most admired companies from the others - the success of their e’ee communication (also utilizing managers to this (more than HR)

Rating-less performance management

  • Why are companies doing it
  • What impact it has on compensation programs
  • How to communicate rewards if we don’t link it to performance rating
  • What questions should a company ask before they decide to eliminate ratings
You can learn more about Tom on: https://www.linkedin.com/in/mcmullentom/

6 episodes