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Wednesday
Aug032011

Pay for Performance, Creating a Self Managed Organization

Today I an spending a very enlightening 7 hours with Dr. Bill Abernathy learning about pay for performance. If you have any questions on performance pay post them in the comments and I will follow up with Dr. Abernathy to get you an answer during Q&A or breaks.

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Reader Comments (3)

“@AdrianGSimmons: @joey_b Possible ?: How to structure reward *and* risk sharing of financial results among team members in a professional knowledge firm.”

Start slowly and replace your arbitrary pay (Christmas and tax season bonuses, annual raises) with incentive pay based in a performance matrix. As employees experience reward tied to performance they will demand the opportunity to shoulder more risk in exchange for reward. But you have to start slow. Big lesson/take away is be patient and build trust. Using dollars you are already going to spend means we all have the budget to demonstrate that employees can have a say in what they make. Make sense?

August 3, 2011 | Registered CommenterJoey Brannon

Makes sense, and thank you for querying for me! The "performance matrix" allusion sounds interesting -- was that something that got defined any further? Thanks Joey!

August 3, 2011 | Unregistered CommenterAdrian

Yes, I have some takeaways that I will blog tomorrow and I will link up some resources that expound on the performance matrix concept.

August 3, 2011 | Registered CommenterJoey Brannon

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