HIT Consultant Insightful coverage of healthcare innovation
> SuccessFactors, Inc. > Drive Your Business Results By Developing a Pay-for-Performance Culture
 

Drive Your Business Results By Developing a Pay-for-Performance Culture

White Paper Published By: SuccessFactors, Inc.
SuccessFactors, Inc.
Published:  Aug 30, 2011
Type:  White Paper
Length:  11 pages

Building a pay-for-performance culture is considered a top tool by senior executives for achieving better financial results, and for good reason. There are numerous business advantages for doing so, including:

  • Creating organizational alignment and visibility as goals are cascaded throughout the company.
  • Keeping employees motivated and on track through immediate reinforcement and coaching.
  • Linking compensation to performance results so that top performers are fairly rewarded and retained.
  • Lowering costs by avoiding costly overcompensation of underperformers.

A successful pay-for-performance system should ideally be tailored to your unique business needs, internal processes and employee culture. Three key steps to building a successful pay-for-performance culture in any organization include:

  1. Developing an overall compensation plan.
  2. Establishing a clear company mission and organizational goals.
  3. Measuring employee performance in a fair, consistent and quantifiable manner. 

Once a true pay-for-performance culture has been established, your organization will reap the rewards of a more energized, engaged, and contributing workforce. Download "The Missing Link: Driving Business Results Through Pay-for-Performance." Get started today. Make Your Move. Make a Difference.



Tags : 
successfactors, pay-for-performance culture, alignment, visibility, cascading goals, immediate reinforcement, coaching, smbs