Compensation Plans - The Smart Way to Control Wage and Salary Costs
Nothing creates employee dissatisfaction faster than learning that a fellow employee makes more than he or she does, and the supervisor cannot satisfactorily explain why. Companies must have a method of determining pay based on performance, skill, experience, length of service, etc. that is administered consistently and can explain differences in individual pay. A well-designed pay plan will also provide employees with a roadmap that tells them what they must do to receive a pay increase.
Every compensation plan must be designed with the company's business in mind. It may take many forms and only a skilled practitioner is able to work with management to develop a plan that will attract and motivate employees consistent with the company's management philosophy and financial position.
HR Counselors, Inc. will help you create a successful compensation plan that employees can understand and that you can afford.