New Compensation: Rethinking remuneration

Reasons for modern incentive systems

• Applicants and employees of the present and future.
• Align remuneration system with corporate culture, purpose, strategy, values and objectives.
• Requirements due to increasing / increasing pay transparency.
• Next Pay: From Equal Pay to comprehensive Fair Pay.

Motivating, attracting and retaining employees

• The role of remuneration systems in personnel recruitment, recruiting and employee retention.
• Increasing employer attractiveness through sensible remuneration systems.
• Use Comp & Ben as motivators and performance incentives.
• Different expectations of generations X, Y, Z and Alpha.

Design factors of modern incentive systems

• Increasing corporate success: potential and performance management.
• Extrinsic and intrinsic motivation.
• Target group-oriented and individualized incentives.
• Strategy-oriented determination of remuneration factors.

Tools and technology

• Modern remuneration principles and remuneration principles.
• Promoting teamwork, co-creation and collaboration.
• Fixed, flexible and iteratively variable elements of the Comp & Ben system.
• Qualitative and quantitative corporate goals, team goals and individual goals.

Ensuring employee focus and success orientation

• Definition of company-specific differentiation criteria.
• Objective measurement and subjective assessment.
• Key figure systems, target agreement, objective optimization.
• Company-specific design of compensation & benefits.

Elements that can be modernized

• Modernize forms of distribution: Kudos, time, experiences.
• Periods: annual, monthly, daily, project-related.
• Use benefits as non-monetary incentives.
• Best practices and use cases: Coupling remuneration factors and ensuring affordability.

The path to the new incentive system

• Analyze the current situation. Realize quick wins.
• Realize quick wins.
• Short, medium and long-term orientation of the incentive system.
• Project management, project goals, KPIs.
• Task force: steering committee, working groups, next steps.