apartment industry

Incentive Plan Design in a Volatile and Competitve Market--The Three Bs

BanoffJeremy032307March2012
Jeremy Banoff is a senior manager director for FPL Associates, an NMHC partner for the 2012 NMHC Compensation Survey.

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3 Bs
Banoff believes a well-designed comp program can motivate employees and reduce business risk in any market--good or bad.

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Banoff's first "B" is all about evluating current incentive hurdles against past company performance, know as back testing.

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Banoff's second "B" focuses on using a variety of performance metrics to create balance within a comp program.

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Banoff's third "B" asks companies to evaluate whether their comp structures could motivate risky employee behavior.

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Incentive dos and donts
Banoff closes with this short list of what makes for an effective, balanced compensation program.

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Media Matters: Leveraging Social Media for Strategic Recruiting

WomackJamiefeb2012
CareerBuilder's Jamie Womack makes the case that HR pros should actively participate in the social media space to attract talent.

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how time is spent online
Womack says businesses need to seek out and engage new talent where they are, which is increasingly online.

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Social media has moved the consumer buying process beyond just consider, evaluate, and buy to include enjoy, advocate, and bond.
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Just like its done to the consumer buying process, social media is giving the job search process a major makeover.

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Job seekers increasingly expect companies to publish job opportunities and maintain career pages on social media sites.

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Womack stresses that job seekers want to get a sense of a company's culture from its social media pages.

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3 areas of focus
Given job seeker trends, Womack recommends developing mobile and video content in tandem with a social media presence.

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Womack says job seekers like employee-created content and points to this video from the ADP Film Festival as an example.

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