How Do I..

How do I develop a compensation plan that is fair, market competitive and drives performance?

Effective compensation programs establish predictable base and incentive pay for employees that promotes performance, career development, internal equity and equity to the competitive recruiting market.

A plan that addresses these factors helps an employee's sense of fairness. Developing such a plan requires several factors – comprehensive job descriptions, quality competitive market data, internal salary ranges, established and communicated performance factors and a timely review process.

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