“Rewards and Performance Management Challenges: Linking People and Results”

According to Towers Perrin's survey, despite cost pressure, acquisition and retention of talented personnel is still a top priority for at least the next three years.

This survey will detail in detail the best practices for rewarding the best-performing programs. A total of 1,294 companies in North America, Europe, Asia and Latin America participated in this survey. Towers Perrin defines a high-performance company as a company whose shareholder's gross profit and / or revenue growth exceeds the median value of the global industry group. As a result of the survey, high-performance enterprises revealed the following.

Finally, and perhaps most importantly, they effectively communicate how their compensation system works for administrators and field workers.

Also, this survey found that many companies are looking at non-monetary or job-rich incentives such as promotion, training / development opportunities, extension tasks / special projects, recognition programs, etc.

In the 2009 survey, David Wirick pointed out that the biggest challenge for public sector leaders is the inability to clearly connect performance and compensation, and long-term compensation plans that can not be selected accordingly, I emphasized that it is an issue. Project team members' expertise Although this research seems to suggest that these leaders need rationality and analysis, it is not necessarily a professional theme on a deep subject. They need to be good at using high quality data to make decisions and need to be able to use social media to attract / approve citizens through appropriate communication.

Managers must work hard to raise employee confidence that higher levels of performance will bring valuable returns. This is to discuss the examples of others who are rewarded for achieving a higher level of performance by clearly defining the association between compensation and the required performance level Can be achieved. Basically, the administrator needs to clearly link the performance level the employee wants and the salary expected by the employee. Managers must try to raise the expectations of the compensation needed to improve the performance of their employees. This can be done by finding out which rewards are considered valuable to the employee, or by personalizing the reward as much as possible, ie by non-standard rewards for that employee. It is also important to reduce the result of "anti-price" which may adversely affect the value of compensation.