The Psychology of Effective Incentive Plans

The Psychology of Effective Incentive Plans By James T. Stodd, SPHR, SHRM-SCP August 1, 2016 When it comes to making our variable pay programs effective, dramatic improvements can be made by applying some core principles from the psychology of motivation. Much of the research and related theory dates back many years to the pioneering work…

Communication and Successful Pay Strategies

Communication and Successful Pay Strategies By James T. Stodd, SPHR, SHRM-SCP March 23, 2016 A lot is being said and written these days about pay transparency and communication from a socioeconomic and regulatory perspective. However, this article is intended to address the need for better pay communication from the broader standpoint of “strategic advantage,” and…

Variable Pay Plans: Selecting the Right Approach

Variable Pay Plans: Selecting the Right Approach James T. Stodd, MS, SPHR, SHRM-SCP December 10, 2015 What we are seeing today may well be the advent of a new era in employee compensation. In this era, the continuity and security associated with compounding salary increases is being willingly (or not so willingly) exchanged for more…

Pay-for-Performance Programs: Are We Expecting Too Much?

Pay-for-Performance Programs: Are We Expecting Too Much? By James T. Stodd, SPHR, SHRM-SCP September 22, 2015 Decades ago many organizations jumped on the “pay-for-performance” bandwagon. In short, these organizations abandoned giving COLA’s, general increases, step increases and other traditional forms of pay increases, in favor of lumping all increases into one performance-based category called “merit.”…

Market Leadership & Pay (Part 3)

Market Leadership & Pay (Part 3) By James T. Stodd, SPHR, SHRM-SCP September 1, 2015 In Part 1 of this brief series on Market Leadership, the point was made that the most important thing employers should do is make sure they understand the compensation practices within their market, as well as their position within the…