The Current State of Compensation Management Practices
Compensation management practices vary from company to company, and often times it is difficult to assess how your company measures up to companies of similar size, or within an industry. In 2019 Salary.com surveyed 1483 participants from over 20 industries within organizations with under 99 FTEs to over 100,000 to learn more about common compensation practices and how they are executed.
In this webinar, we will discuss everything from the organizational responsibility for compensation, to merit matrices and their relation to bonus plan offerings in an effort to fully understand the scope and variety of common compensation management and the best practices surrounding them.
Some of the questions Salary.com asked, and will be covered include: Who is most commonly responsible for setting compensation budgets? How do you compensate employees with hot skills? To what extent do managers differentiate between high and low performance?
- Overview of compensation management practices
- Common compensation plans and philosophy (and the myths commonly associated!)
- Differentiation in performance management and employee recognition
- Merit matrices and their relation to bonus plan offerings
- Fair pay and compliance best practices