HR Tool Kit 02 & 03 : Rewarding Options & Social Media
02 REWARDING OPTIONS
Competitive salary: Base your salary on marketplace movement, competition, workforce supply, and other economic factors that influence compensation in your industry and market.
Sign-on bonuses: Make sure your investment is protected in the person. Split sign-on bonuses over a period of time, not as a lump sum
Retention bonuses: You can be creative with this one and apply it to things like higher degree sponsorships and additional training programmes. This is beneficial even for a manager job
or director job
Pay for performance: Again a very effective reward and recognition strategy that can be a strong motivation for higher productivity and greater retention
Increments with promotions: Every employee expects a yearly increment and a raise with a promotion, failing which he/she might look out for other options
Stock options: Clearly, the most popular form of reward in a competitive job market that also underlines the organisation’s interest in a long-term commitment and relationship with the employee03 SOCIAL MEDIA
Do not cross social and professional boundaries
Do develop a HR protocol on “if and how” social networking background checks should be used
Do apply it consistently throughout the organisation
Do ensure that such background checks comply with legislations
Do not discriminate based on information obtained from such background checks.
Ensure all candidates are subject to the same social media checks at the same point during the process
If you reject a candidate based on what you have found in his social network profile, remember to document your finding