Compensation and Rewards - What's the Difference

There are consultants that focus on rewards. There are consultants that focus on compensation. Both groups use similar terms and techniques. But are they looking at similar things? Is there a difference in the way compensation plans are designed versus non-cash reward, incentives and recognition? Are the techniques different or the same? Should compensation and non-compensation rewards be designed in tandem or is it a good practice to design them separately? These are the questions I have when I hear about "incentive" programs linked to compensation or if I hear a compensation consultant talk about reward programs. We may be using the same words but are we working toward the same goals and are there problems in design if we don't take both non-cash and cash compensation into consideration when designing these programs? On Wed. July 7, 2010 I've enlisted a well-known group of compensation consultants and recognition minds - the authors of Compensation Cafe - to help me work through this conundrum. Tune in and learn how your compensation and reward efforts can be enhanced by taking both the cash and non-cash side of the equation into account.