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When I read some compensation philosophies it reminds me of the scene in Alice in Wonderland when Alice asks the Cheshire Cat which path she should take. He asks her where she's trying to go and she answers that she doesn't know. He then tells her that if she doesn't know where she's trying to go, it doesn't matter which path she takes.

We have to know what we want our rewards plans to accomplish before we put them in place. Excellent post.

Darcy:

What a great analogy! Many of us have been privy to those "Alice in Wonderland" moments, haven't we? Thanks for the comment!

Congratulations! This post was selected as one of the five best independent business blog posts of the week in my Three Star Leadership Midweek Review of the Business Blogs.

https://blog.threestarleadership.com/2009/04/08/4809-midweek-look-at-the-independent-business-blogs.aspx

Wally Bock

Wally:

Thanks - always an honor to be featured in the Midweek Review. Readers, check out Wally's line-up this week - it's a great one!

Ann - I appreciate your article and the examples you give of far better objectives or statements of strategy. I teach Compensation at the undergrad and grad level and talk often about not doing the "attract and retain" thing since it does nothing to distinguish you from any other organization. Much like the phrase "excellent benefits offered." If everyone says that and offers the same things, aren't they really "average" benefits? I will use your ideas to spark discussion with the students about the unique ways that compensation strategy can be articulated. Thanks so much!

Judy:

Glad that you found the post helpful enough to share with your students!

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About The Author

  • More Info Here
    Compensation consultant Ann Bares is the Managing Partner of Altura Consulting Group. Ann has more than 20 years of experience consulting with organizations in the areas of compensation and performance management.

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