Pay People Right Zingheim & Shuster Chapter 3 Integrating Total Pay

Total Pay Elements Base Pay Variable Pay Recognition and Celebration Benefits or Indirect Pay

Creating the Right Mix Is being the top-paying company the most correct strategic answer? Questions: –Individual Growth –Compelling future –Positive workplace –Total Pay

Total Pay Topics Competitiveness Investment Justifying Rewards with Results Strategic Total Pay

Total Cash Mix Reasons for Variable Pay –Communication –Cultural Change –Sharing Success –Varying Pay Costs Depending on Ability to Pay –Acknowledgement

At-Risk Pay Is Variable Pay At-Risk? –Base pay at risk –Potential pay Unions?

Variable Pay Size of Opportunity –Results achieved –Reasonableness of goals/line of sight –Change in mix –Competitiveness Add-On Potential Pay At Risk Base Pay at Risk

Readiness Assessment Confidence and Trust Likelihood of win-win Definition of risk as future potential Factors that apply to any change Measures within line of sight Meaningful award relative to pay at risk Personal circumstances History of pay Early experiences Managing the change