Many organizations aim to align pay to performance. The underlying assumption is a clear link between pay and employee performance and as such the idea is to ensure differentiated compensation according to performance level.
On an intuitive level securing pay for performance seems fair and objective. However, the actual task of securing pay for performance has many challenges. First of all there are the elements connected to the actual performance definition and performance assessment. There is also an element of differences in organizational divisions, cultures, personality types and job profiles, that also challenges the idea of having one pay philosophy and one pay system, and then of course there are the regulatory and legal aspect of compensation that also must be accounted for.
A highly complex task
Securing pay for performance is an important but also highly complex task and at this NOCA event you will get in depth knowledge from both research at Copenhagen Business School and practitioners from Nordea and IKEA on how to approach this challenge. At the event we will look into some of the most difficult challenges related to incentive pay:
- How to best define and assess performance?
- How to secure a pay for performance structure?
- How to account for the perception of fairness in your pay structure?
Konstantinos Karavidas, Global Rewards Leader, IKEA Group
Konstantinos has 15 years experiences working with rewards systems in multiple large-scale organizations such as Mærsk Line, Danske Bank, Novo Nordisk, Chr. Hansen and IKEA. Today Konstantinos is Global Rewards Leader at IKEA Group where he is responsible for reviewing, aligning, and developing IKEAs Total Rewards framework. His work spans from definition of the pay philosophy to actual design and implementation of reward programs. At this event Konstantinos will share insights on how to secure a pay for performance.
Linn Gevoll, Senior Organisational Development Partner at Maersk Drilling
Linn has a PhD in Performance Management from CBS, where she has had a specific focus on design and implementation of innovative Performance Management practices. Linn has, in her previous positions, had the responsibility to revise the performance management process at both Novo Nordisk and Nordea. Linn is today working as Senior Organisational Development Partner at Mærsk Drilling. At this event, Linn will share her reflections and experiences related to performance assessment.
Allan Hansen, Professor from Department of Operations Management at Copenhagen Business School
As researcher and professor at Copenhagen Business School Allan has studied Performance Management for more than 20 years. Allan will at this event share insight from latest researched on Performance Management especially focusing on the topic of perceived fairness in performance assessment.
Read more about NOCAs theme ‘Compensation and Benefits’ here!