Your Compensation Structure
Compensation issues don't end when you hire an employee. The issues are simply different in an ongoing employment relationship.
- Providing competitive pay. Keeping your compensation package competitive and up-to-date.
- Linking pay to performance. Using compensation to reward employees for doing a good job, by adopting a policy that ties the amount of a raise to an employee’s performance.
- Pay compression. Dealing with the common problem of pay compression, when due to inflation, the long-time employees' salaries did not keep pace with the starting salaries of today.
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