Finally on the Talent Wheel is <click> Talent Rewards, that process by which employees are compensated, both economically and psychologically, for their work. Again, our focus at Davis & Company: Human Capital Strategists is to take a strategic view of rewards – one characterized by a willingness to differentiate, sometimes dramatically, between those performers that are integral to the flawless execution of the business strategy, and those that aren’t. Some principles we adhere to are as follows: <click> Ensure your strategic roles are occupied by “A” players <click> Peg fixed compensation for strategic roles at the midpoint of the market, or at most, slightly above. <click> Peg variable compensation for these roles above the market midpoint and occasionally well-above, and <click> Tie the incentive payout directly to the achievement of the workforce strategy. For the most senior roles, tie it also to the achievement of the business strategy. <click> Regarding benefits, your basic benefits should be competitive with the market <click> Niche benefits should reflect the makeup of your workforce, if any unique demographics present themselves – for example, a particularly young, or technical, or older workforce would derive greater value for the cost from benefits that connect well to that demographic. <click> Share the risk of benefits with employees – they will have a greater sense of their value and will help you control costs <click> Provide some unique benefit that connects to your business culture. Are you in the cardiac care business? Perhaps company-matching donations to the Heart Association or tickets to their annual Black Tie Gala for selected employees. <click> And lastly, don’t forget all those low-cost high value talent reward opportunities that present themselves every day. Like a public “Atta Go” to a successful employee. <click>

Put “A” players in strategic roles Fixed comp. for strategic roles at the market midpoint Variable comp. above the market midpoint Tie the payout to the workforce strategy. Core benefits at market midpoint. Niche benefits tuned to workforce. Share benefit risks with employees Provide some unique benefit(s) that connect to the business culture. Low cost / high value rewards. The Talent Wheel Leadership Plan Acquire Deploy Develop Reward