Comp and Coffee
Ep 47 - How To Measure Comp - Part Deux
Feb 13, 2020
Exploring metrics like turnover rates, ROI on compensation, and aligning with company goals. Importance of organizational goal alignment and SMART goals framework. Using marathon training schedule for measuring compensation. Strategic approach to compensation budgeting in 2021. Involving others in compensation planning for value addition in organizations.
27:09
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Quick takeaways
- Align HR measurements with business objectives for effective compensation management.
- Utilize smart goals to align rewards with performance outcomes, enhancing strategic compensation planning.
Deep dives
Understanding the Impact of Compensation Measurement
Compensation measurement is a crucial aspect that impacts organizational success. The podcast delves into exploring how companies assess compensation strategies, from survey responses to operational tactics. The discussion emphasizes the need to align HR teams' measurements with business objectives. Exploring key areas like turnover rates, aligning with company goals, and analyzing HRKPIs are highlighted as essential considerations for enhancing organizational performance.
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