Expert Perspective by Grahall’s OmniMedia Editorial Board
If we have said it once we have said it a thousand times: when allocating one of your most scarce resources (that would be cash for rewards) don’t target pay solely on how an individual performs, but on how important that job is to the success of the enterprise. The more important the position, the higher the possible (and actual) rewards should be. Attracting and retaining top talent and high performing individuals to the most important jobs in your organization is critical to lasting success. Using this approach in your Total Rewards strategy may actually lower costs of attracting and retaining average individuals. Any incremental increase in compensation cost allocated to truly high performers in critical positions will be more than offset by the business results achieved through their greater output.
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