Ann Torkelson, Senior Director Compensation, Mayo Clinic
In a world that demands high agility; does your approach to compensation accelerate the organizational action needed to be successful? While many organizations strive to reward high performance through their compensation model, it is an all-too-familiar experience where the byproduct is behaviors that are not consistent with the mission, vision, and values of the organization. In this session, you will hear how Mayo Clinic has leveraged non-traditional approaches to compensation over the past 100 years which remain relevant in today’s complex environment.
• Learn about a unique approach to compensation which enables performance without a pay-for-performance component.
• Understand the organizational drivers for this approach to compensation.
• Identify the requirements for success and derailers which may prevent success with this model.
• Explore how elements of this approach to compensation may be applicable even in a traditional pay-for-performance environment.