How to Handle Pay Reviews in a Tough Economy: Recorded Value Pack (CD-ROM (full presentation), Transcript (PDF), Audio CD)
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In this tough economic environment, many workers will not get normal raises this year. Some may get nothing. In extreme cases, base pay may actually need to be reduced. This means, obviously, that bosses at your company are going to have some excruciatingly difficult salary reviews.
Are your managers and supervisors up to the task? Do they know how to effectively communicate the message that, "We love you, you're doing a great job, but we can't even give you cost-of-living this year"?
Fact is, most employees equate their self-worth with their compensation. If your supervisors mishandle these extraordinarily delicate salary reviews, they could destroy morale, sap productivity and erode retention rates. Even worse news: It's your best people, not your average employees, who will become most disillusioned if their pay expectations aren't met.
But don't panic. Supervisors can easily be taught to handle tough pay reviews effectively. In this 90-minute conference, performance management expert Gary Markle will offer supervisors a powerful conceptual framework for discussing salaries rationally and draining the drama from even the toughest pay review.