Compensation Systems Should be Reactive and Proactive
Greetings, Fellow Leaders!!!
Before I get into the topic for today, I want to remind you about my focus: The Power of Me Leadership. EVERY person reading this has the power within them to be a good leader.
When I share tactics, strategies, and leadership tips, I know that people will not adopt them word for word, which is perfect! I do things in a manner that works for me and you need to do things in a manner that works for you.
Please keep this in mind when you read what I have written. The strategies I discuss will work, you simply need to make them come to life in a manner that works for you in your current role and organization.
So, today I want to discuss how compensation systems should be simultaneously proactive and reactive.
Let's start with how compensation systems can be proactive.
Raise your hand if your compensation systems are deliberate and targeted.
I don’t see many hands.
Compensation systems should always be deliberate and targeted and should NEVER never be arbitrary.
Most employers inherit compensation systems that “work” for the organization, but are not proactive.??
What do most compensation systems look like, you ask?
1. They are based on longevity.
2. They have arbitrary dollar amounts in them for things like certifications, degrees, and shift work.
3. They do not address the great things employees do.
Looking for an answer to this dilemma? Look no further because DinamiComp? is your answer!
Compensation systems built in DinamiComp? allow employers to:
????Determine SPECIFIC dollar amounts for compensation.?Gone are the days of rolling the dice hoping that your compensation systems do what you want them to.
????Reward INDIVIDUAL employees for the great things they do.?If someone is performing at an exemplary level, your DinamiComp? system will help you acknowledge that.
????DinamiComp? compensation systems are built based on employee groups.?However, compensation is based on and calculated for EACH EMPLOYEE!
??Proactive compensation systems, like those built with DinamiComp?, will help you make the vision of your organization a reality.
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It is time to upgrade to?DinamiComp? compensation systems!
Now, let's talk about how your proactive systems can also be reactive.
Is it fair to say that the following things are issues in today's employment market?
1. Hiring and a dearth of applicants!
2. Retention Problems!
3. Quiet Quitting!
4. Compensation Discrimination!
Most of you would answer a resounding “yes” to all of these.
Employers who use traditional compensation systems, many of which are longevity-based, are not equipped to meet these changes that are prevalent in today’s employment market.
??Good news: compensation systems built in DinamiComp? are reactive and can address all of these issues!
????Hiring and a Dearth of Applicants: DinamiComp? compensation systems reflect the organization’s values.?Once developed, they can be part of your job postings that will draw candidates who FIT THE ORGANIZATION!
????Retention Problems: DinamiComp? compensation systems allow employers to easily acknowledge and reward employees for the great things they are doing.?This will help the employer make a connection with the employees, which will help reduce turnover.
????Quiet Quitting: DinamiComp? compensation systems can contain employee evaluations.?Not only will this encourage and reward satisfactory performance, but it will also encourage and reward exemplary performance.?Give employees a reason to go above and beyond what is expected!?
????Compensation Discrimination: DinamiComp? compensation systems are objective and based on tangible metrics the employer identifies as important for each role.?Guesswork is no longer involved in calculating compensation. Compensation is targeted and calculated.
??Compensation systems that don’t allow employers to adapt to internal and external factors are useless.?It is time to upgrade to DinamiComp? compensation systems!
I think I have made a strong argument as to why compensation systems need to be simultaneously reactive and proactive. The future of your organization may depend on your ability to do this. Dinamico can help you with this quandary.
????Email me today at?[email protected]?so you can start creating compensation systems that help you win in today’s employment market.?
??You can do this.
??Good luck.