Life Cycles and Compensation
MAY 11, 2015
Hiring bonuses for key talent may be used to keep the fixed cost of salaries down. Informal bonus-type programs are based mostly on company profits. Compensation : Formal compensation programs are put in place including merit pay systems, job descriptions/grades, bonus plans with formal metrics and a full complement of benefits. Life cycles exist everywhere. Example: Countries have life cycles. Compare a developed country (U.S.) with an emerging country (Indonesia).