Compensation for Teams How to Design and Implement Team-based Reward Programs

Here at last is the one-stop guide that will help you plan, design, and implement team compensation programs with speed and confidence. The author is one of the world’s few authorities in this highly specialized field, and he draws on his experience as a compensation consultant to America’s most successful team-based corporations to help you custom-design a strategy that works. By following the proven 13-step process detailed in this book, you’ll learn how to create different pay strategies for the three main team types in use today: parallel teams, process teams, and project- or time-based teams; determine base pay for team members; align the key components of additional compensation for teams: increases in base pay (merit raises), recognition awards (both cash and noncash), and incentive compensation; win “buy-in” by allaying members’ fears and helping them accept risk; identify the 21 competencies vital to team success and develop a competency model specific to your organization’s needs and culture; adapt existing appraisal systems to measure team performance; and combine these elements into a “compensation architecture” that is flexible, yet solid and enduring. At each step, real-world examples and case studies from team-based organizations help you understand the process and avoid the pitfalls. Results of a nationwide survey by the Hay Group provide critical data on team compensation trends.