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Compensation Made Simple

White Paper Published By: Kenexa
Published:  Aug 31, 2011
Type:  White Paper
Length:  2 pages

Compensation is critical to keeping your work force motivated and attracting top talent to your organization. The objective of any compensation plan is to be internally equitable, externally competitive, affordable and appropriate. The plan must make sense in terms of your organization's objectives and be aligned with employees' values. This white paper explores some of the fundamental concepts in compensation including modeling pay around your company's business cycle, the importance of using market-based salary data and some advantages and disadvantages of the pay resources available to develop compensation plans. 

Tags : 
kenexa, compensation, fixed pay, variable pay, market pay, market pricing, pay structures, salary surveys, market data, business lifecycle, market-based salary data, payroll software, financial management, benefits management