Thanks for joining us on Season 4 of The Flourishing Culture Podcast, brought to you by The Best Christian Workplaces Institute. You’ll learn how to build a flourishing workplace culture that drives the ministry impact of your organization, your church, or your company brought to you by the Best Christian Workplaces Institute. Now here’s your host, BCWI president, Al Lopus.
Today, we’re going to look at Rewarding Compensation, the fifth of the eight drivers that can take the health of your workplace culture to the next level.
Rewarding Compensation is one of the eight proven drivers of a healthy, flouring workplace culture. What my guest is going to share will help you step back and revisit your organization’s current compensation plan so you can see what’s working and where you can improve.
Listen to the Audio
With that, I want to welcome in my guest, Tara VanderSande, Senior Consultant for the Best Christian Workplaces Institute. Tara, I’m so glad you can join us here as part of our new, ongoing series on “The Eight Ways to Build a Flourishing Workplace Culture.”
Leaders have a high calling to steward all of God’s talents well, especially his people.”
In this episode, you’ll learn about:
- Rewarding Compensation programs provide tangible resources in return for the service an employee provides. These resources include benefits such as medical, retirement and paid time off, in addition to cash compensation.
- In many regards, Rewarding Compensation is tied to Outstanding Talent. In this tight labor market, we see top talent walking out the door because they have better opportunities with other organizations.
- How much does it cost to replace a high performer in an organization?
- It could cost between 30-40% or up to 5 times a full-time employee’s salary to replace them.
- How can churches and Christian-led organizations create and clarify their rewards strategy for key talent?
- When a top performer receives a job offer for more money, do you offer more for them to stay?
- Because organizations are unwilling to differentiate pay for high performers, they end up with low-performers which actually contribute at less than 10% of the average performer, according to a compensation expert at Aon Hewitt.
- A tip for communicating the true value of someone’s compensation program?
Download the 8 Drivers Reference Guide for FREE.
One or more of these eight measures of workplace culture is either strengthening (or weakening) your organization right now.
Read the Post
Read the blog post: How to Develop a Compelling Rewards Package
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Download a complete, word-for-word transcript of episode here
The BCWI Employee Engagement Survey
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