Building Effective Compensation Structures

In this training video available at Herbers & Company Academy, the Herbers & Company senior consulting team walks Academy members through how to develop an effective annual compensation strategy to enhance growth. The key message is that compensation planning begins with culture and creating clarity for growth. Focusing on financial rewards before assessing core value alignment will not promote employee satisfaction and retention. In other words, you cannot solve strategic problems with tactical solutions. There is no one right formula and no one-size-fits-all approach with compensation planning.

In this training, you will learn:

• How to align culture with compensation planning

• How to avoid mistakes in compensation planning

• How to use compensation planning to motivate employees

• How to build career tracks to provide clear strategies for growth and reward

• How to create customizable compensation strategies, rather than short-term fixes on human capital programs