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Tom McMullen Podcast: Compensation Aspects of Rating-less Environment
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Manage episode 204792794 series 1942734
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
- 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
6 episodes
Archived series ("Inactive feed" status)
When? This feed was archived on March 26, 2022 15:09 (). Last successful fetch was on June 03, 2020 09:28 ()
Why? Inactive feed status. Our servers were unable to retrieve a valid podcast feed for a sustained period.
What now? You might be able to find a more up-to-date version using the search function. This series will no longer be checked for updates. If you believe this to be in error, please check if the publisher's feed link below is valid and contact support to request the feed be restored or if you have any other concerns about this.
Manage episode 204792794 series 1942734
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
- 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
6 episodes
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