Remove Bonuses and Incentives Remove Books Remove Compensation Remove Guidelines
article thumbnail

How To Create An Employee Compensation Strategy

6Q

The purpose of this blog post is to provide an overview of how to create an employee compensation strategy. We’ll cover topics such as the types of compensation, how to determine salary and wages, the role of bonuses, and more. This can be done in various ways, such as by providing benefits, pay rates, and bonuses.

article thumbnail

Does Discretionary = Discriminatory?

Compensation Cafe

At many companies, there is still a widespread allowance for discretion in setting pay levels, variable compensation incentives, and equity compensation awards. When you add equity compensation as a pay element the results skew even worse. Provide strong, understandable guidelines. Discretion is a precarious thing.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

3 Reasons Great Equity Compensation Creates Great Responsibility

Compensation Cafe

More and more companies outside of the traditional sectors of technology, life sciences, finance are turning to equity compensation to reward their employees. Equity compensation can give companies superpowers. Granting equity compensation magnifies the obvious problems with this habit. Great companies reward their best people.

article thumbnail

Effective Performance Management for Employees Returning to Work

EmployeeConnect

This can include financial incentives , such as bonuses or raises, as well as non-financial rewards, such as recognition programs, promotions, or additional responsibilities. This can include formal recognition , such as bonuses or promotions, or informal recognition, such as verbal praise or a simple thank you.

article thumbnail

Growing a Healthy Compensation Program

Compensation Cafe

If you're an HR office of one, busily juggling everything from beneficiary forms to incentive awards, it's hard to believe that you share any pressures with other HR managers. Here are some of the compensation decisions typically made in a turbo-charged, highly fragmented setting like Healthy Gadgets'. This is the first in a series.

article thumbnail

The Thought Doesn’t Count

Compensation Cafe

I often say that the most important aspect of any incentive plan is its intent. Even the simplest incentive plan design requires defining a ton of details. This provides the set of guidelines that ensure the plan can protect you from yourself. There are many systems to help manage incentive plans. This brings us to tools.

article thumbnail

Startup Pay is like Guerilla Warfare

Compensation Cafe

Most human resources and compensation professionals are peaceful people, but we are all fighting in the war for talent. In compensation, we tend to start with market pricing, but it may make more sense to start with establishing the ideal pay mix. This isn’t a rule, it’s a guideline. Connect with Dan on LinkedIn.