No business owner wants to deliberately reward unfairly, yet it often happens. Appraisal forms and scorecards with complex calculations that should make the system fairer often do just that. Why that is and how it should be done, you'll hear in this podcast with Professor Xavier Baeten.
Xavier Baeten is professor of Reward and Sustainability at the Vlerick Business School in Belgium. He conducts annual research on the remuneration of top managers and employees in hundreds of listed companies in Europe.
The problem with the scorecards
"The problem lies in the complexity and in the role of the line manager," Xavier said. Many companies use scorecards to conduct appraisals. Xavier does not believe in scorecards because they are so complex: 'You should be able to explain compensation rules to your grandparents in two minutes.' Xavier uses the term "demystifying" as a solution. In this episode of the Work Professor, he explains how he envisions that and the role of the line manager.
Here's what to look out for
According to Xavier, the core of fair reward lies in three forms of well-being: financial, mental and physical. If you provide a reward system that is well-developed on all three, you will arrive at a fair reward methodology. Listen to the podcast to hear more about the three forms of well-being and their application.
Links
More about Xavier Baeten
https://www.vlerick.com/nl/research-and-faculty/faculty/xavier-baeten
Contact
Do you have questions or input? Please contact Wendy van Ierschot at wendy@viepeople.com.
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