Out with the old and in with the new! It is time to get rid of dated compensation philosophies and adopt modern pay practices to bring comp forward in your organization. Pay for performance no longer works especially in today's tight labor market. In a hot job market, it is highly important to get pay and incentives right. Engaging your workforce requires more than just great pay. What is your enterprise doing to attract and retain top talent?
In this whitepaper, we'll explain what incentives compensation is, examples of how it works in the enterprise, its benefits, some potential pitfalls in such a program, and some tips for implementing and improving an incentives compensation plan at your organization.
Download this whitepaper to also learn more about how PayScale's compensation software and data products can help your enterprise organization build a robust holistic comp strategy to incentivize your workforce to meet business objectives.