What Millennials Want in a Pay Plan: Sorting Myth from Reality

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About the Presenter

Ken Gibson

Senior Vice President - VisionLink Advisory Group

 

Ken Gibson is Senior Vice President and one of the principals of The VisionLink Advisory Group—a compensation design and consulting firm that currently serves clients in over 40 states.

Ken has consulted with businesses on performance-related compensation issues for over 30 years. During that time, he has spoken to a broad range of business groups throughout the United States on a variety of compensation themes. He has authored numerous articles and reports addressing compensation and rewards issues that modern businesses face and conducts a monthly webinar series attended by C-Suite executives and other business leaders throughout the country.


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Although it’s been nearly three years since Millennials took over majority status in the global workforce, the passage of time has not made any clearer the best approaches to managing and paying this new “breed” of employee. Most business leaders remain stymied by conventional wisdom and struggle with sorting myth from truth about what matters to Millennials when it comes to compensation.

With that in mind, join us as Ken Gibson, Senior Vice President of The VisionLink Advisory Group, discusses what companies need to do to create an effective pay approach for this younger part of their workforce. Drawing from VisionLink’s vast experience working with clients in virtually every industry, Ken will break down what works and what doesn’t when it comes to compensating Millennials.

The topics covered, include: 

  • The truth (versus the myths) about Millennials in the workforce—what they believe, how they act, and what they want to achieve

  • How a Millennial’s career “phase” impacts the type of pay offering that will get the best response

  • What Millennials’ financial “hierarchy of needs” includes and how it should influence pay programs

  • How to construct the right kind of incentive plans for attracting and retaining Millennials

  • How marketing principles can help in creating an effective Millennial pay strategy



Theresa M. Worman

Executive VP, Strategy & Development | Compdata Surverys & Consulting


 

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