In this special solo episode, recorded live at the HR Tennessee Conference, David takes a deep dive into the fundamentals of compensation planning. He demystifies the complex processes behind pay decisions, breaking down everything from base pay and bonuses to the strategic importance of pay philosophy, market analysis, and effective communication. Listen in for a masterclass on how to build a fair, transparent, and effective compensation strategy. 

[0:00] Introduction

[0:26] What Are the Core Components of Compensation?

[10:59] Building the Compensation Framework

[22:43] How Can You Truly Pay for Performance?

[37:58] Compensation Planning in Action: Case Studies & Real-World Scenarios

[49:30] Q&A and Closing

Quick Quote

“Incentive plans only work if the manager and the employee have a conversation and there's communication about why this happened . . . No one likes wasting money, and that lack of a story is a waste of money.”