Linking Pay to Performance: Optimizing Employee Performance & Productivity

Description

One methodology used to increase an organization’s productivity and profitability is to link performance pay with the organization’s goals.  When instituting a pay-for-performance system, companies focus on translating organizational goals into performance measures at every level of the organization, from senior leaders on down.  Discover how linking performance pay with organizational goals can boost productivity and benefit your organization.

Course Objective 

Alignment between an organization and its employees doesn’t come naturally – it takes planning, hard work, and communication.  Learning effective techniques to optimize organizational outcomes by ensuring there is a ‘line of sight” connection between organizational objectives and the goals established for individual employees is crucial.  Participation in this webinar will offer attendees the opportunity to learn techniques to link performance pay with organizational goals resulting in a boost in productivity and numerous other benefits to the organization.

Topic Background 

Organizations spend an enormous amount of time, energy, and resources each year to set their organizational goals.  To attain those goals, a company relies on their greatest asset:  their employees.  Employees who feel recognized demonstrate a stronger desire to help the company grow and succeed.  Therefore, having a pay for performance system incorporated into your organizational structure could leverage employee engagement and enhanced overall organizational performance.

Areas Covered in the Session 

• Defining goal-based performance management
• Pros and Cons of linking performance to pay
• Obtaining buy-in at all levels of the organization
• Methods for introducing a goal-based performance system to employees
• Handling push-back from employees and managers
• Why some managers hesitate to get on board with a goal-based performance management system and how to get past that issue
• Concept of “cascading” goals
• Six steps to cascading organizational goals, aligning them with the organization’s performance management process, and creating relevant employee development plans connected to the organization’s business strategy.
• SMART goals
• How to set individual employee goals
• Performance tools available to managers
• How to coach employees who are not meeting goals

Topics to be Addressed 

• Understand how pay for performance encourages exceptional performance among employees
• Tips to getting buy-in from all levels of the organization
• Learn methods to identify the characteristics of effective goals
• Understand the relationship of professional development to goals
• Create a “line of sight” connection between company, group, and individual goals
• Understand the link between employee engagement and performance management

Certification:

Pedu is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CPSM or SHRM-SCPSM. This program is valid for 1.0 PDCs for the SHRM-CPSM or SHRM-SCPSM. For more information about certification or recertification, please portal.shrm.org.

This Program has been approved for    1.0    HR (General)  recertification credit hours toward aPHR™, aPHRi™, PHR®, PHRca®, SPHR®, GPHR®, PHRi™ and SPHRi™recertification through HR Certification Institute® (HRCI®).

Who can Benefit:

• Senior Management
• HR Managers
• HR Generalists
• Operations Managers
• Compensation Professionals
• Managers with HR responsibility
• Any professional who establishes goals/performance targets or who has accountability for operational outcomes