Compensation

New and Updated

• Type:

  Quick Reference

  Compensation Communications

  This chart lists various types of communications about employee compensation and details their purpose, audience, content and suggested methods of delivery.

• Type:

  How To

  How to Develop a Compensation Strategy

  This How To reviews the basic steps and considerations involved in creating a compensation strategy that effectively serves an organization.

• Type:

  Best Practice Manual

  Compensation Fundamentals: Building Blocks

  Best practice guidance discussing the building blocks that are the foundation for establishing compensation systems, including base pay and adjustments to base pay according to cost-of-living increases; seniority; job performance; and the acquisition of new competencies, skills or knowledge sets.

• Type:

  Best Practice Manual

  Compensation Fundamentals: System Design Elements

  Best practice guidance discussing the three goals of a successful employee compensation system: internal consistency, market competitiveness and recognition of employee contributions.

• Type:

  Best Practice Manual

  Compensation Fundamentals: Common Pay Structures

  Best practice guidance discussing two of the most common pay structures in employee compensation: merit-based pay and person-focused pay.

• Type:

  Best Practice Manual

  Compensation Fundamentals: Legal Considerations and Assessing Effectiveness

  Best practice guidance discussing the main compliance challenges that organizations face in employee compensation and the metrics that organizations can use to make sure their compensation system is meeting their goals.

• Type:

  Checklists

  Manage Effective Employee Compensation Systems Checklist

  This checklist may be used when managing and implementing an employee compensation system.

• Type:

  How To

  How to Use the Point Method of Job Evaluation

  This How To details the steps a prudent employer should take when using the "point method" for evaluating the value of jobs to inform employee compensation decisions.

• Type:

  Policies and Documents

  Compensation Philosophy

  An employer may use this compensation philosophy to describe the compensation practices that support a company's overall business objectives and its market position relative to other employers that compete to employ similar talent. A compensation philosophy should also express the compensation practices that influence an employee's experience at work.

• Type:

  Policies and Documents

  Outcome of a Salary Review Letter

  Enhanced to improve the comprehensiveness, organization and scope of coverage.