Can you explain clearly why the people on your team are paid what they're being paid? If you can't, you may have a hidden problem eating away at your meritocracy.
We've produced a few episodes over the years on remuneration structures, particularly how to link incentives to performance. This episode is all about the gap between what people believe about merit-based pay, and what actually happens when you try to put that into practice.
Timing… negotiation skill… historical anomalies… skill shortages… there's a long list of barriers that conspire to stop you from paying people what they're truly worth. And most of them are completely outside of your control.
In this episode, I give you five specific, practical steps that you can take to rebalance the scales of merit-based pay. And, at the very least, you’ll be able to explain, with a high degree of confidence, why your people are paid what they're being paid.
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