On compensation and benefits with Sandrine Bardot at the HR Summit and Expo 2014
The presentation “Essentials of Compensation & Benefits – Are You Making the Best Use of Your C&B Function?” was offered, on the second day of the HR Summit and Expo 2014, by Sandrine Bardot, Managing Director of The Bardot Group”.
Some of the good practices that Sandrine Bardot shared in terms of compensation and benefits are:
- Benchmark your salaries, in order to get an idea on the salary packages for similar jobs;
- Use referral schemes – get referrals from your employees when recruiting;
- Integrate compensation and benefits into your performance management system;
- Use tools such as Goal Seek in Excel to calculate the salary offer for people who are working in other companies, based on their current salary;
- When reviewing salaries and promoting employees, perform simulations in order to understand their financial impact;
- Make sure the incentives don’t encourage negative behavior within your organization.