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There is an immense opportunity for companies to harness latent value in their compensation programs by shifting some of the nuanced reward decisions from the employer to the employee. Enabling individualized rewards delivered at scale can dramatically increase employee satisfaction and motivation for consistent or even reduced employer cost.
Creating Competitive Compensation
Too often the details of compensation program design cause companies to lose their connection with their people leading them to overpay and/or under-benefit from rewards programs. Taking a disciplined approach to connecting employee wants with company objectives through the right collection of reward instruments is key to maximizing the value harvested from a compensation program.
Are Your Goodies Good Enough?
A company’s compensation program impacts the business in many ways, few of which generate business outcomes based solely based on the effectiveness of the compensation program. Decoupling the compensation program from business outcomes to evaluate the program directly is key to understanding when a change is needed.
Chasing the Perfect Candidate Assessment
Many companies employ creative ways to source and screen candidates, but the companies that are winning the war for talent create compelling, exciting candidate experiences and captures high quality, fit-for-purpose data from a variety of sources during the process serving service distinct, specific purposes empowering high quality, objectively defendable hiring decisions.
Finding Success Without Unicorns
Companies that focus too intently on hiring the perfect candidate miss out on the opportunity to shift pre-hire investment to post-hire investment and turn the almost-perfect candidate into an ideal employee. This mindset changes broadens the candidate pool, changes the risk profile, and increases the likelihood of meeting hiring timelines with an added bonus of increased likelihood of retention.
Catching the Car With Grace
Businesses, especially new, small and those in the midst of transactions must initiate shifts in fundamental business model that necessitate revisiting their approach to engaging their people. Time works against these companies who must quickly pivot their perspective from pursuing a goal to addressing new challenges resulting from successfully hitting that goal to capture upside and limit downside.