When implemented correctly, performance-based pay has the potential to be straightforward and effective. That doesn’t mean that it’s failproof, however. When organizations find that their performance-based pay plan fails to...
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. Learn...
Performance-related pay, or pay for performance, is a financial rewards system in which all or some of employees’ monetary compensation is related to how their performance is assessed relative to...
In recent years, dramatic shifts have taken place across the economy, and these changes have caused ripple effects in the ways we’re paying employees. While factors like low unemployment support...
The compensation management process lays the foundation for a company culture that recognizes and rewards strong performance. When done correctly, it ensures employees are paid fairly and have the incentives...
Today a search for compensation definition will yield results such as “topics in regard to wage and/or salary programs and structures,” or some variation of that phrasing. Yet, compensation meanings...
To design an effective compensation plan, you must manage a complex set of variables. This is further complicated by the fact that compensation has its own unique set of goals:...
Indeed.com recently revealed its list of top-rated workplaces for compensation and benefits. Year after year, many of the same employers tend to make the list, leaving professionals to wonder: what...
The ability to understand your company’s compensation definition, or the way pay is calculated, is important for employee satisfaction. Because compensation meanings and calculations can differ in every company, your...
Enterprise compensation management (ECM) refers to the ways in which pay policies are administered, organized, and automated in companies. Because compensation accounts for a significant portion of overall business costs...