{"id":662,"date":"2021-09-30T18:47:47","date_gmt":"2021-09-30T18:47:47","guid":{"rendered":"https:\/\/genashtim.sg\/ecornell\/newsletter-v2\/?p=662"},"modified":"2025-09-20T18:49:27","modified_gmt":"2025-09-20T18:49:27","slug":"attract-and-retain-top-talent-by-implementing-organizational-compensation","status":"publish","type":"post","link":"https:\/\/genashtim.sg\/ecornell\/newsletter-v2\/index.php\/2021\/09\/30\/attract-and-retain-top-talent-by-implementing-organizational-compensation\/","title":{"rendered":"Attract and Retain Top Talent by Implementing Organizational Compensation"},"content":{"rendered":"<p style=\"text-align: justify;\">How does\u00a0an organizational compensation strategy\u00a0help your organization flourish by\u00a0attracting talent\u00a0and then\u00a0retaining talent?<\/p>\n<p style=\"text-align: justify;\">Your company\u2019s compensation strategy works to ensure that people\u2019s performance and organizational results\u00a0tally.\u00a0When this sync is present, it bodes well for your company. It means your workforce is motivated to meet\u00a0the\u00a0organizational goals as an outcome of your company\u2019s compensation endeavors.<\/p>\n<p style=\"text-align: justify;\"><strong>What is the purpose of an organizational compensation strategy?<\/strong><\/p>\n<p style=\"text-align: justify;\">At its core, the purpose of a compensation strategy is recruitment and retention. When you pay well, you attract top-notch talent. When you increase their pay, you get to\u00a0retain\u00a0them\u00a0longer.<\/p>\n<p style=\"text-align: justify;\">According to an article by\u00a0<a href=\"https:\/\/www.predictiveindex.com\/blog\/how-compensation-plays-into-attracting-and-retaining-top-talent\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span data-contrast=\"none\">The Predictive Index<\/span><\/a><span data-contrast=\"auto\">, a compensation strategy is as important as customers, profit, and marketing plans and should receive equal attention.<\/span><\/p>\n<p><strong>What are the key takeaways when applying and creating a compensation strategy?\u00a0<\/strong><\/p>\n<p style=\"text-align: justify;\">First of all, you must gauge your affordability to pay and measure employee performance to be compensated. Hence, you ought to design, evaluate, and personalize your compensation strategy. Undoubtedly, your organization will progress when an effective compensation strategy is in place.<span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">You cannot overlook\u00a0an\u00a0organizational compensation\u2019s\u00a0structure. It is an important aspect to design, structure, and build your talent strategy. When you get your compensation structure\u00a0right,\u00a0you\u00a0will be able to\u00a0create an effective\u00a0compensation\u00a0strategy.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><strong>How can I get started with an effective compensation strategy?<\/strong><\/p>\n<p style=\"text-align: justify;\">You can take targeted steps to devise an effective compensation strategy for your company. For example, you need to measure if you can afford a pay-for-performance system in good and bad times. You must define performance that supports context, among others.<\/p>\n<p style=\"text-align: justify;\">Of course, there will be challenges when you are vying to structure\u00a0<span data-contrast=\"auto\">up<\/span><span data-contrast=\"auto\">\u00a0your compensation strategy. To make things go smoothly, you must first be fully cognizant of your company\u2019s goals and needs. Then you can build your compensation strategy\u00a0in such a way that\u00a0enables\u00a0you\u00a0to\u00a0rebuild and make timely and necessary tweaks to it.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\">A\u00a0<a href=\"https:\/\/genashtim.sg\/ecornell\/courses-certificate\/?course=Compensation-Studies-%28ILRHRC10%29&amp;cs=5&amp;id=57\" target=\"_blank\" rel=\"noopener noreferrer\"><span data-contrast=\"none\">Compensation Studies<\/span><\/a><span data-contrast=\"auto\">\u00a0certificate\u00a0is\u00a0offered\u00a0by Genashtim in collaboration with eCornell.\u00a0Enroll in the professional development program today and\u00a0become a\u00a0HR\u00a0professional\u00a0specializing\u00a0in compensation and benefits.<\/span><\/p>\n<p style=\"text-align: justify;\">eCornell courses are approved by SkillsFuture Singapore for SkillsFuture Credit as well as by HRD Corp Malaysia under its SBL-Khas Scheme.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>How does\u00a0an organizational compensation strategy\u00a0help your organization flourish by\u00a0attracting talent\u00a0and then\u00a0retaining talent? Your company\u2019s compensation strategy works to ensure that people\u2019s performance and organizational results\u00a0tally.\u00a0When this sync is present, it bodes well for your company. It means your workforce is motivated to meet\u00a0the\u00a0organizational goals as an outcome of your company\u2019s compensation endeavors. What is the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":665,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[29],"tags":[],"class_list":["post-662","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-september-2021-issue"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/genashtim.sg\/ecornell\/newsletter-v2\/index.php\/wp-json\/wp\/v2\/posts\/662","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/genashtim.sg\/ecornell\/newsletter-v2\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/genashtim.sg\/ecornell\/newsletter-v2\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/genashtim.sg\/ecornell\/newsletter-v2\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/genashtim.sg\/ecornell\/newsletter-v2\/index.php\/wp-json\/wp\/v2\/comments?post=662"}],"version-history":[{"count":1,"href":"https:\/\/genashtim.sg\/ecornell\/newsletter-v2\/index.php\/wp-json\/wp\/v2\/posts\/662\/revisions"}],"predecessor-version":[{"id":664,"href":"https:\/\/genashtim.sg\/ecornell\/newsletter-v2\/index.php\/wp-json\/wp\/v2\/posts\/662\/revisions\/664"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/genashtim.sg\/ecornell\/newsletter-v2\/index.php\/wp-json\/wp\/v2\/media\/665"}],"wp:attachment":[{"href":"https:\/\/genashtim.sg\/ecornell\/newsletter-v2\/index.php\/wp-json\/wp\/v2\/media?parent=662"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/genashtim.sg\/ecornell\/newsletter-v2\/index.php\/wp-json\/wp\/v2\/categories?post=662"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/genashtim.sg\/ecornell\/newsletter-v2\/index.php\/wp-json\/wp\/v2\/tags?post=662"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}