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.
Ranking Employees and Compensation
Employee ranking can be a useful tool to help allocate compensation dollars. Tom Agnew, a senior consultant with Hay Insight is quoted as saying in the May/June 2006 volume of Compensation and Benefits “Companies need to consider how much compensation dollars they are tying up in dead weight at the bottom of the performance scale. And top performers don’t receive the recognition they deserve, don’t be surprised if they look elsewhere.”
Additional research indicates that top performing companies differentiate rewards and often use ranking to get there.
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Insights on Incentives is brought to you by NSS Corp.
