The concept is familiar but the implementation landscape is changing.
Previously "pay for performance" focused on the design of incentives to drive behavior and related performance. Incentive design is still an important element but leading companies realize that paying attention to the linkage between organizational alignment, employee development, and compensation design is more likely to deliver desired business performance.
In an integrated strategy, there is a close relationship between broad business objectives and engaging the entire organization. The familiar milestones of goal setting and performance assessments in compensation planning remain intact. However, the integrated "pay for performance" process offers alignment and line of sight opportunities with operational relevance. The connection between objectives and rewards is stronger because related development and metrics are directly communicated.
Technology plays a significant role in an integrated pay for performance strategy, offering continuous business insight, agility and refined communication. This e-learning track will cover successful design and implementation practices in an integrated talent management strategy, Pay for Performance.