Compensation: Building and Using Pay Structures
Once an organization has identified a total compensation philosophy, attention can be turned to building a compensation system to support that philosophy.
The overarching and specific total compensation goals that the organization has identified are brought to life through the organization's pay structures. Pay structures provide direction relative to wage and salary rates, pay increases, and incentive programs. They operationalize the organization's philosophies relative to internal equity and external competitiveness. In a very real sense, pay structures make strategy tangible.
EXAM ALERTPay structures provide a reminder about the criticality of effectively communicating with employees about ... |
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