Performance Pay as a Business Sustainability Driver

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Performance Pay as a Business Sustainability Driver

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Performance Pay as a Business #Sustainability Driver http://3bl.me/bpz2gs by @TaigaCompany
Tuesday, April 20, 2010 - 3:32pm

CONTENT: Blog

Traditionally the underlying objective any of compensation structure has been to attract, motivate and retain good staff.  However, choosing the right compensation structure to achieve a specific goal can be difficult.  There is a myriad of variations from which to choose, but they all basically come down to either base pay or performance pay. 

Performance pay involves setting base pay plus establishing a formula that will provide bonus payments based on certain performance criteria. It is a widely used in particular industries, based on the concept that pay can motivate job performance, increase employee effectiveness, and align business goals. Research suggests that pay can do this when it's linked to actual performance.  This model offers several potential advantages:
 
•    Ties staff member's compensation to performance
•    It rewards the right behaviors and builds unity
•    It encourages self-management
•    It encourages innovation
 
So what does this have to do with business sustainability? 
 
By linking compensation to specific sustainability concepts, businesses have the potential to align the sustainability goals of the organization and motivate behavior. 

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Home to one third of the earth's trees, the Taiga is the largest land-based biosphere and encircles the globe. Its immense oxygen production literally changes the atmosphere and refreshes the planet. It is this continuous renewal that has shaped Taiga Company's vision to drive similar change in the business world. Taiga Company seeks to be the "oxygen for your business".

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Keywords: Business | Sustainability | pay | performance

CONTENT: Blog

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