Stephanie R. Thomas is a Lecturer in the Department of Economics at Cornell University. She teaches courses in microeconomics, labor economics and personnel economics. From August 2013 through June 2016, Dr. Thomas also served as the Program Director of the ILR School’s Institute for Compensation Studies, an interdisciplinary initiative that analyzes, teaches and communicates about monetary and non-monetary rewards from work. Dr. Thomas earned her Ph.D. in Economics from the New School for Social Research.
Assessing the Financial, Strategic, and People‑Related Return on Pay
Like any other factor in an organization, compensation is expected to show a return on its investment. To ensure you are driving behaviors and rewarding results that are consistent with your organizational strategy and mission, your compensation program must be evaluated periodically. Learn how to do so and then how to compare outcomes to expectations and recognize when you are, and aren't, supporting your long-term organizational goals.
Dr. Thomas and Dr. Barrington examine how incentive pay benefits an organization with an emphasis on assessing the value of the performance pay plan. They examine the value including not only the profit margin but also the many other factors such as increased productivity, lower turnover, and improved morale. As you assess the financial return of pay-for-performance systems during this course, you will also see the customer experience, business image and reputation, sales, and other outcomes creating more value.
After completing this course you will be positioned to evaluate pay-for-performance practices as they relate to financial performance, strategic alignment, and talent management.The courses Measuring and Compensating for Performance and Attracting and Retaining Talent with Performance Pay are required to be completed prior to starting this course.
Key Course Takeaways
- Critically frame the financial return of pay-for-performance systems
- Evaluate the strategic alignment of the pay-for-performance system with the organization's short-term and long-term goals
- Assess the improvements in attraction, retention, productivity, engagement and motivation associated with pay-for-performance systems
How It Works
Linda Barrington is the Associate Dean for External Relations in the Cornell SC Johnson College of Business as well as the executive director of Cornell’s Institute for Compensation Studies. Dr. Barrington’s published research addresses employee compensation, gender issues in the workplace, employees with disabilities, and workforce demographics.
Who Should Enroll
New through intermediate-level HR professionals, including lower-level specialists in Compensation and Benefits
HR Generalists looking to specialize or round out their skills