315 - Managing Performance-Based Pay Amidst a Pandemic
Kathryn O’Connor, Director, Compensation Services, HR Source
In 1975, “pay for performance” was introduced to the world of compensation. Over 45 years later, organizations struggle to make this process more effective, especially during and after the pandemic. This session will focus on the critical elements of a performance pay model and discuss ways to improve an existing performance-based compensation system. Particular emphasis will be placed on pay-range administration, performance evaluation tools, linking employee performance to merit increases, and special considerations for tough economic times.
- Determine what competencies to include in employee performance evaluations.
- Link performance to pay increases.