For the majority of organizations, the core principles of compensation involve striking a balance between paying in a way that is externally competitive and internally fair. Yet, there are many different interpretations of what is fair. For this reason, it is critical to achieve clarity and agreement among key stakeholders on how the company should […]

Compensation statements, also sometimes referred to as employee benefit statements or total reward statements, give employees an in-depth look at how they’re being rewarded. While some employers view them as an “extra” step in the already lengthy compensation cycle, organizations that have implemented them know that there is real value in issuing these statements to […]

A comprehensive and effective compensation management strategy should also encompass the following key elements.