Professional Documents
Culture Documents
Employee Compensation
Employee Compensation
Esteem
Need for
reputation,
prestige,
and
Social
The desire recognition
to socialize from others.
SelfActualizatio
n
Desire for
selffulfillment.
What a man
can, must
be
Safety
Consists of
the need to
be safe.
Physiological
Most basic
need.
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Salary surveys
To monitor and maintain external equity.
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Consulting firms
Professional associations
Government agencies
Area wage surveys
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Compensable factor
A fundamental, compensable element of a job,
such as skills, effort, responsibility, and working
conditions.
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Compensating managers
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Competency-based pay
Where the company pays for the employees
range, depth, and types of skills and knowledge,
rather than for the job title he or she holds.
Competencies
Demonstrable characteristics of a person,
including knowledge, skills, and behaviors, that
enable performance.
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Broadbanding
Consolidating salary grades and ranges into just a
few wide levels or bands, each of which
contains a relatively wide range of jobs and salary
levels.
Wide bands provide for more flexibility in assigning
workers to different job grades.
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Strategic compensation
Using the compensation plan to support the
companys strategic aims.
Focuses employees attention on the values of
winning, execution, and speed, and on being
better, faster, and more competitive..
Probationary pay
Paid holidays
Salary compression