The Ugly Duckling of Compensation: How Old-Fashioned Bonus Programs are Broadening the Equity Gap
Lots of light has been shed on inequitable compensation. It's great to see many organizations beginning to close the gap with salary adjustments to increase equity. However, few organizations are considering how ugly their bonus programs are. Each year organizations spend up to 15%+ of revenue on bonus programs which often equates to a significant portion of their team members' total compensation. Turn of the century bonus spreadsheets and crystal balls no longer cut it for a workforce looking for immediate feedback and transparency about their compensation and incentives. Join us to learn how your ugly, old-fashioned bonus program is broadening the equity gap. We'll share the 5 steps to building a better bonus program, resources to benchmark your bonus program, and specific steps you can take immediately to improve. With the right focus on improving the overlooked, ugly duckling of compensation you can turn your bonus program into a beautiful SWAN and finally generate an ROI on your investment into your team.
Learning Objectives:
- Learn the five key focus areas that drive equity in bonus programs.
- Explore how well leading organizations' bonus programs perform and how well your bonus program stacks up.
- Understand specific actions you can take to improve your organization's bonus program to drive immediate improvements in equity, employee retention, and financial performance.
Chandra Storrusten
Chandra co-founded Visible Value® in 2003 and serves as CEO & Chief Value Creation Officer. She fosters sustainable value creation strategies that allow organizations around the globe to capitalize on pivotal opportunities during growth, transitions, and transformations. Chandra inspires her clients to be mission, values, and purpose-driven organizations that develop sustainable competitive advantages. Her clients become innovative leaders in their industry, achieve their vision, and consistently out-perform their competition.
She helped one of these clients develop a new bonus program platform and spin it out into a new company. Now Chandra also serves as a co-founder and Chief Strategy Officer of this organization, ourlinQ®.
In addition, she delivers strategic keynotes and regularly presents at national and regional conferences. Chandra obtained an Executive MBA from Duke University – Fuqua School of Business.
Ryan Jolley
Ryan Jolley, PE is a co-founder and CEO of ourlinQ®, a robust bonus program platform that helps organizations thrive by rewarding each team member for their impact on profitability and their overall performance. He helps organizations customize the platform to provide increased incentive transparency and frequent performance feedback to their employees. These organizations exceed their revenue and profitability goals while improving client and employee satisfaction and productivity.
Ryan is also Chief Strategy Officer of Jones & DeMille Engineering in which he spearheads strategic projects to improve client and employee experience and firm performance. In 2017, this included the development of a new bonus program platform their employees love. Based on the platform’s success in motivating its team members and improving company profitability, Ryan helped spin the solution out of the firm into ourlinQ®.