While performance management practices have changed, compensation processes remain largely the same. Shifting from a one-size-fits-all to a tailored approach will help support a VUCA environment and reach desired outcomes. This blueprint will help you:
- Evaluate the current pay for performance approach.
- Determine objectives for base pay increases and bonuses.
- Design a base pay increase and bonus approach.
- Develop an implementation plan.
Redefine the objectives of base pay increases and bonuses to align with the organization.