This session explores the latest developments in merit pay plans, drawing from the upcoming third edition of Merit Pay by Steven Williams, Jon Werner, and Robert Heneman. Over 20 years have passed since the second edition, and many factors have reshaped how organizations strategically link pay to performance, including generational differences, evolving performance management practices, team-based work, and advances in research and statistical methods.

Participants will gain actionable insights into designing and implementing merit pay plans that truly drive performance, backed by practical examples, recent research findings, and effective measurement approaches. The session is designed for all attendees, with technical concepts explained in accessible terms to ensure understanding and application.

Key Takeaways:

• Practical tips to enhance merit pay plans and ensure they create meaningful impact on employee performance.
• Insights from recent research and advances in methodology that clarify the effectiveness of merit pay processes.
• Guidance on performance measurement, including practical models, methods, and approaches that link pay to results.
• Access to resources including models, graphs, research summaries, and interactive engagement exercises to support application in your organization.