Bob Laurenzo talks to Dan Moynihan, Partner in the Executive Pay & Governance Practice at Korn Ferry. Dan talks about an optimistic survey showcasing ways that businesses are overcoming challenges with Compensation; Executive pay cuts, Employee canceled or delayed bonuses, furloughs and lower raises as a result of COVID-19.
Other Key Topics:
Dan shares a use case
Using spreadsheets
Pros and Cons of a comp vendor vs an HCM
The latest compensation news, trends, whitepapers, and insights.
Most companies still run performance management the way they did twenty years ago. Managers write annual reviews, ratings go into
Performance and compensation are managed as two separate systems, run by two different teams, on two different calendars. Employees don’t see any of that. They see one question: did my work change my pay? When the answer is unclear, the entire performance cycle starts to look like ceremony, and the merit budget behind it gets spread further from where it was actually meant to go.
No exports. No manual imports. No reconciliation. When performance and compensation share a platform, ratings reach your pay decisions the moment reviews are submitted.
