In business, compensation is a primary driver of performance and conduct. Stakeholders – including employees, shareholders, customers, and regulators – want to see compensation reward important behaviours they prioritise. HR leaders and boards are now compelled to look at compensation not only through the prism of performance, but also culture, equity, equality, and social responsibility.
Those measures are of primary concern for banks in particular in the post-pandemic environment. Their operational obligations can have a direct correlation with their market performance and future growth. How then do banks identify and benchmark the right activities to track and reward? How can they keep their focus on the bottom line, while enhancing corporate culture and building a better compensation system?
