Insights on Incentives has as its sole purpose the facilitation of thought and discussion on the subject of incentive compensation for banks and credit unions. Once a month NSS will be sending out an e-mail with one insight on the area of incentive compensation. The insights will come from our research, discussion with customers and finally, those of you who decide to offer an insight on this important sales management issue.
June 2003
The first insight centers on the importance of aligning an organization's incentive compensation program with its larger corporate strategy and objectives and in particular its human resources strategy and work design.
" Compensation is a critical piece of an overall human resources strategy. Because compensation is both visible and important to employees, a compensation program designed to communicate and reward strategic goals increases the probability that employees not only will understand what those goals are but also will achieve them."
George T. Milkovich and Renae F. Broderick, "Developing a Compensation Strategy," in Milton L. Rock and Lance A. Bolger, The Compensation Handbook (NewYork :McGraw-Hill, 1991).
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Insights on Incentives is brought to you by NSS Corp.
