Taking a page from the high-tech comp manual

Adapting strategic rewards used in the high-tech sector to your firm’s needs.
By Owen Parker and Peter Saulnier
|Canadian HR Reporter|Last Updated: 07/06/2001

Faced with a shortage of talent, increased competitive pressures and the need to motivate and retain employees, human resource managers are often evaluating new ways of compensating employees.

Simply raising the level of cash compensation is rarely a solution in developing strategic reward and compensation programs. Ultimately, to determine just what kinds of programs are feasible and how effective they are, HR managers look at direct competitors or the general marketplace to learn of leading-edge programs that are being implemented at other organizations regardless of industry sector.

Over the last 10 years the business world has been inundated with news of rewards being implemented by the high-technology sector. Given the intense competition and growth (and more recently, losses) that fueled this sector, high-tech companies have been leading the way with innovative and sometimes unusual strategic rewards in order to attract and retain the skills they need.