4 Critical Mistakes to Avoid for Performance-Based Pay
When implemented correctly, performance-based pay has the potential to be straightforward and effective. Browse through these common issues so you can avoid them in your own organization.
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Tips for Developing a Powerful Compensation Philosophy
A compensation philosophy aims to ensure pay is market-competitive and aligned to the business strategy. To support these two factors, there are six components, or goals, of compensation philosophy.
The Key Components of a Performance-Based Pay System
To be effective, every performance-based pay system must encompass a few key elements. These include clear objectives, a thorough performance process, and a tool to support your pay-for-performance initiatives.
The Pillars of an Effective Compensation Management Process
The overarching objective behind your organization’s compensation management process is to pay your employees fairly without exceeding its budget. Yet, beyond this primary goal lie important pillars, each of which must be satisfied to achieve better bottom-line results for your company.
