Compensation Workshop Success
August 26, 2009
AgCareers.com
Building Effective Compensation Strategies for your Organization
On August 12-13, 2009, AgCareers.com held a workshop in Des Moines, IA to cover compensation strategies. Sharon Koss, SPHR, presented on several topics such as compensation trends in 2009, using compensation salary surveys, incentive pay plans, and much more! As the economy is presenting many struggles for some organizations, compensation should not be overlooked. This is the time that companies should be looking at their compensation practices and using salary surveys such as AgCareers.com’s Compensation Benchmark Review™ to insure competent decisions are being made. Employees need to stay informed about decisions their company is making, and what their financial situation is so they can feel confident in their job and company. Fact of the matter is, most companies are still hiring, but they may be shifting the positions available so they can still be as efficient as possible.
The amount a company pays out in salaries is the largest expense the company will endure- so invest in it. Companies should be using at least three different salary surveys to have adequate data to show and to explain to their employees why they are receiving the salary they are. Benefits should also have prime exposure as they can out-weigh some salaries. Employees need to value their benefits but in order for them to appreciate them, they need to know what their benefits are worth. In many instances, companies do not highlight their benefits as much as their base salary, which in the end could ultimately hurt the company more.
Sharon Koss shared many helpful tips to all the participants in the workshop. A shift of focus in sales or new incentive plans can really motivate employees to engage them in the company and produce large profits. Particularly in sales positions, there is a lot of focus towards retaining clients but if the focus was switched with an incentive to create new business… the sales employee now has a new goal and target point that will boost their pay, but also make the company more profitable. Finding added value within an organization’s workforce will create a better workplace environment and also make the company more profitable- a win-win situation!
AgCareers.com would once again like to thank Sharon Koss for presenting at the workshop and all the participants for attending. A lot of great information was shared and hopefully everyone took home some great ideas and tips that may help their organization grow. To receive information about upcoming workshops or to be added to our newsletter emailing list, please email
agcareers@agcareers.com.
