As a business evolves, it will encounter the need to build credibility with outside parties, such as investors and lenders, and to make well-informed strategic decisions. In short, financial...Read more »
How to Talk to Employees About Comp and Performance
Discussing employee performance and compensation reviews can be tough. I recently read a great article that focuses on having difficult compensation conversations with employees, however, I think it goes much deeper than just having a compensation discussion. This article speaks to important aspects of being a good leader, like being transparent and authentic. There are some great common sense nuggets here as well, such as keeping discussions of employee compensation and performance separate. All too often, we see our clients and their employee use the term “review” to mean “it’s time for my raise.” The author points out that if you don’t keep these discussions separate, the message will get lost on the listener. Finally, my favorite point made here is that it’s not always about the money. Giving recognition and using your words effectively to convey how much you value your team can go a long way!
Tom Wimer is a human resource, compensation and talent acquisition expert. If you have questions about this topic or other HR related challenges Fahrenheit HR can help navigate, please connect with Tom.