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The
SZA Total Rewards Bulletin
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version
May
2006
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Welcome
to the May 2006 issue of The SZA Total Rewards Bulletin. CEOs
are not saying “Give me as many ‘B players’ as you can find—we
can do okay.” In our Strategy
section, we suggest how total rewards can be fashioned to support a
high-performance organization culture. Broad-based variable pay and
incentives are an accepted way to accelerate performance. In our Tactics section, we discuss the selection of measures and goals for
incentive design—how many is the right number? Performance management
is always the source of questions and discussion. In our
Tips section, we suggest some practices that have proven effective
and useful to performance management design and implementation.
Pay & Reward Strategy:
Engaging a
High-Performance Workforce through Total Rewards
Are
there any circumstances under which an organization may elect to develop
a total rewards strategy that is not related to an emphasis on high
performance? We can answer this question of strategy with another
question—are there any circumstances under which an organization would
not elect high-performance over mediocre- or poor-performance total
rewards? The answer clearly is no, and that is why CEOs are asking for
more results and value from the money spent on total rewards...read
more
Pay & Rewards Tactics:
How Many Measures and Goals for Incentives?
The
majority of organizations use variable pay or incentives for some or all
of their non-management and non-selling workforces. This means variable
pay and incentives have become an important element of the total pay
component of total rewards. Many organizations include variable pay as a
powerful part of their total rewards initiative because experience and
research suggests that organizations that link variable pay to goal
performance are more likely to achieve these goals than are those that
do not clearly tie pay to performance...read
more
Pay & Rewards Tips:
Performance Management Makes a Difference
Performance
management is controversial and important—controversial because
there are many views of how to do it “best” and important because
it is critical to total rewards and communicating a win-win between
the organization and workforce. Here are some performance management
tips to consider...read
more
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In this
issue:
Pay
& Reward Strategy:
Engaging
a High-Performance Workforce through Total Rewards
Pay
& Reward Tactics:
How
Many Measures and Goals for Incentives?
Pay
& Reward Tips:
Performance Management Makes a Difference
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Come
see us!
Jay
Schuster and Pat Zingheim
Keystone Award: find
out about the 2006 Award presented to Pat Zingheim and Jay
Schuster by WorldatWork.
Find
out about our presentation:
What Does
"High-Performance Organization"
Mean for Total Rewards Professionals?
Jay Schuster and Pat
Zingheim
Sunday, May 7, 2006
1:00 pm - 2:15 pm
Anaheim, CA
WorldatWork Total Rewards Conference & Exhibition 2006: Destination
Attract Motivate Retain
Sponsored by: WorldatWork
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ABOUT
US: Jay
Schuster and Pat Zingheim are partners in Schuster-Zingheim and
Associates, Inc., a globally recognized pay and rewards consulting firm
located in Los Angeles and founded in 1985. They received the 2006
Keystone Award from WorldatWork, the Association’s highest honor, for
their contributions to the total rewards profession’s body of
knowledge. They consult with a wide range of companies throughout the
world on the development of total rewards, incentives, base pay
structures and increase methodologies, performance management, executive
compensation, sales compensation, recognition, and other pay solutions.
They are authors of a best-selling rewards book Pay People Right!
Breakthrough Reward Strategies to Create Great Companies (Jossey-Bass,
2000) and the all-time best-selling book on workforce pay, The New
Pay: Linking Employee and Organizational Performance (Jossey-Bass
Publishers, 1996). They are authors of numerous articles in business
magazines on the subjects of rewards and organizational effectiveness.
Both are contributors to publications such as Fortune, Across the
Board, Wall Street Journal, Working Woman, and Business Week.
They have appeared on many television, cable, and radio programs
including CNBC, CNNfn, NBC, and CBS. They speak throughout the world to
leadership audiences interested in creating a high-performance workplace
through people. Pat and Jay were selected as pay and motivation gurus in
The Guru Guide.
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Buy a copy
of our best-selling pay book, Pay People Right! Breakthrough Reward
Strategies to Create Great Companies
Click here
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The SZA Total Rewards Bulletin will be sent to
you periodically--or you can read it on our
Website at www.schuster-zingheim.com
or www.paypeopleright.com.
Tell your friends and colleagues about The
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email or send an e-mail to totalrewards@schuster-zingheim.com
or contact Schuster-Zingheim and Associates, Inc. at (310)
471-4865.
Copyright 2006 Schuster-Zingheim
and Associates, Inc.
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Now in our 21st
year