Pay more often
Posted by Amy Wilson on January 15, 2009
Wondering what to do with that pile of money in your compensation budget? Considering eliminating it and chalking it up to the crappy economy? That’s certainly one way to go, but how about changing things up this year. Instead of paying less, how about paying more frequently?
Set tight, tough goals that are really going to help you get through the quarter. If people meet them, pay them. Rinse and repeat. The goals should focus on a combination of performing miracles and saving bundles of money. Ann Bares suggest focusing on non-financial goals because of the inability to predict what will be good financially in the near future. The desired outcome is to rally the troops to be part of something (including saving their jobs). And, maybe, just maybe it will work.