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The seven deadly sins of compensation: are bonuses a waste of money?

Posted on 03 Jan 17 by Carol Merriman

There’s a chill in the air as the ‘comp season’ descends upon us once again.

Most organisations are probably now already working on planning budgets, processing market data and kicking off the compensation review season but, in his best-selling book, ‘Bringing Out the Best in People,’ Aubrey Daniels said: “If you think of the bonus season as a way to make up for sins throughout the year, then don’t waste your money.”

This article looks at the seven deadly sins of the compensation season, shares some of the common pitfalls when managing the compensation process, and offers some sage advice for this crucial time of the year.