Linking Compensation and Performance Management Part 4 of a 5-part series on how to build a compensation strategy for your company that balances corporate goals and industry shifts, supports business strategy and ensures pay transparency. Performance Impacts Pay Previously, we covered compensation principles that help ensure your company’s pay strategies produce the results required and …
A SampleCompensationPhilosophy Part 3 of a 5-part series on how to build a compensation strategy for your company that balances corporate goals and industry shifts, supports business strategy and ensures pay transparency. According to a 2023 Payscale best practices report, only 55% of organizations have a written compensation policy statement. For those who do not, …
In today’s business landscape, HR executives need to shape compensation strategies that resonate with both their workforce and organizational objectives.
Design a Compensation Plan to Balance Company Goals and Industry Shifts Your employees want to know they are receiving fair pay for their contributions and may wonder: How their pay is linked to performance? How it compares to other salaries within your company? What do other companies pay for similar work? If your managers don’t …
Design a Compensation Plan to Balance Company Goals and Industry Shifts Read More »
Compensation Principles for Effective Pay Strategies Part 2 of a 5-part series on how to build a compensation strategy for your company that balances corporate goals and industry shifts, supports business strategy and ensures pay transparency. Striking a balance with core compensation principles For the majority of organizations, core compensation principles should strike a balance …
Compensation Principles for Effective Pay Strategies Read More »
Compensation Strategy: Balancing Company Goals With Industry Shifts Part 1 of a 5-part series on how to build a compensation strategy for your company that balances corporate goals and industry shifts, supports business strategy and ensures pay transparency. Fair Pay for Employee Contributions When managers discuss pay with their employees, they often encounter questions for …
Compensation Strategy: Balancing Company Goals with Industry Shifts Read More »
How Private Companies Can Develop Equity-Based Incentives Public companies have long used stock options and other equity-based incentives to reward their executives. As a result, stock options have become an extremely lucrative portion of the total compensation for executives of publicly traded companies. Considering the enormous amount of wealth that has been created through stock …
How Private Companies Can Develop Equity-Based Incentives Read More »
Reinforcing the Bridge between Business Strategy and Compensation Strategy Get the compensation insights you need to move your business forward Compensation strategies have changed rapidly, as companies attempt to keep up with an ever-changing business landscape. As a result, the bridge that links a company’s compensation approach to its overall business strategy may have been …
Reinforcing the Bridge between Business Strategy and Compensation Strategy Read More »
Develop a Compensation Philosophy Statement for Today’s Times Pave the way for a culture of trust and openness in your organization. Historically, compensation philosophy statements addressed such concepts as pay and performance, risk and reward, alignment with shareholder interests – especially for executive positions – and setting compensation levels at the market median. These statements …
Develop a Compensation Philosophy Statement for Today’s Times Read More »
Gathering Information For the New Age of Compensation Two case studies illustrate how to meet top management’s demand for more and more relevant compensation information. The rules of the compensation game are changing and so are its information needs as companies introduce new compensation approaches, such as broad banding, skill-based pay, and broad-based incentives that …
Gathering Information For the New Age of Compensation Read More »
