Datafication of Compensation Distribution

Is your data science providing you enough indications that challenge your existing compensation strategy?  Does it reveal that the art of compensation distribution performed by your managers is not in accordance with your compensation strategy? Old habits die-hard, so you need to make sure that your plan for data-driven decision-making is not getting overridden by compensation managers’ belief system and they are not ignoring data science recommendations.

DataficationofCompensationDistributionEven today challenge is to effectively distribute (more...)

People, Performance and Perception

A commonly heard complaint: “My manager is a control-freak and practice micro-management. He asks for suggestions but provide them all himself. He doesn’t believe in imperfection and try to fit us into his unrealistic expectations. “

Perceiver believes that it is the reality but he might be just focusing on (more...)

Inject market data to address external compensation inequalities

Ever changing labor market conditions and supply demand fluctuations make sure that organizations don’t design employee compensation strategy in a vacuum. Success of your compensation strategy not only depends on your system’s ability to provide market data analysis during decision-making but also on how well you analyze the external data (more...)

Seeking feedback on your compensation process

Organizations put a lot of efforts in choosing the people who can award compensation to their workforce. They may even decide to have a different set of people for different type of compensations awards (i.e. Salary allocation or Stock Grant) as per their business needs. But the question is (more...)

Getting it Right: 100KM, Team of 4 and 48 Hours

It’s about an endeavor undertaken by our team of four people to raise funds for charity and to walk 100KM within 48 hours to meet the challenge set by Oxfam Trailwalker.  This post highlights our journey, the outcome and re-emphasizes some well-known facts.

We started with goal setting; success was the obvious goal so success criteria were defined at the start in consultation with all stakeholders. Key Success Indicators (KSIs) were to raise funds to qualify for the event (i.e. 50K INR) and to complete 100KM walk within 48 hours with all four members. We did identify stretch (more...)

Metrics for Compensation Allocation

Simon would like to allocate performance bonus to his workforce who got performance rating of 5/5 and 4/5. People who got 5/5 rating will get (X) % of their base salary as performance bonus where as 4/5 will get (X-1) %. He would like to define compensation metric for the same so that he can apply it, with his decided % amounts, on his entire workforce rather than allocating to each one of them. He would also like to share it with his peers or subordinates in case they would like to use same metrics with their own numbers.

Compensation Allocation Metrics for Managers

Neither (more...)