Training Doyens

OVERVIEW Let’s be honest. People work for money. The salary budget while often the biggest expense in a company, is to employees a reward system for their work performed in your company and for the skills they bring to the workplace. Before you get started, keep in mind that adopting a competitive, pay for performance philosophy requires some extra work. Because a merit matrix connects performance to market rate pay. However, in order to differentiate wages based upon the results of your employees, you need to know what you want people to do, be able to sort out how they are performing and, based on that, differentiate their pay. The merit-based, pay-for-performance matrix also serves as a guide for supervisors so that they suggest pay increases that are fair and support business objectives. The benefit of your extra effort regarding salary benchmarking is that you can drive your funds towards rewarding high-performing employees who may currently be paid less than the mar...

OVERVIEW People work for money. Even people who love their jobs likely would not perform them free. The salary budget while often the biggest expense in a company is to employees, a reward system for their work performed in your company and for the skills they bring to the workplace. Adopting a competitive, performance-based pay philosophy requires some extra work. In order to differentiate wages based upon the results of your employees, you need to know what you want people to do, be able to sort out how they are performing and, based on that, differentiate their pay. The benefit of your extra effort regarding compensation is that you can drive your funds towards rewarding high-performing employees who may even be paid less than the market. Because, realistically salary budgets and increase budgets are determined not only by compensation philosophy and range movements but the actual budget (or not) the employer has. pay-for-performance matrix system WHY SHOULD YOU ATTEN...