Compensation: Getting the Most Out of a Smaller Budget
With roughly 50% of organizations reducing total pay in 2009 compared to 2008, companies are struggling to motivate employees to perform at their highest levels at a time when performance is most critical. To address this challenge, successful organizations are using communications to articulate the value of their compensation plans, creatively exploring lower-cost alternative incentives, and changing existing incentive plans where opportunities exist to increase their impact.
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