Organizations regularly update their external base salary compensation data to remain competitive in the talent market. This process, known as a Market Refresh, involves updating existing data and analyzing its impact on employee compensation. It’s distinct from...
Setting the annual salary increase budget involves a delicate balancing act. Employers must carefully weigh market projections, internal financial constraints, and the competitive landscape. Factors like the availability of talent in specific areas, employee...
Ensuring pay equity within an organization is not only important for fostering a fair and equitable workplace but also as a competitive advantage for attracting and retaining employees. By conducting a systematic pay equity analysis, you can identify and address...
Discretionary bonus plans have their time and place in an organization. Discretionary bonuses are a plan in which management determines the size of the bonus pool and the amounts to be allocated to specific individuals at the end of the year. They work well when the...
When More Than Quantitative Incentive Criteria is Needed It is a common practice to select between two to five metrics to use for incentive criteria. Incentive criteria are usually a combination of financial, non-financial and strategic metrics. When the eligible...
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