Salary compensation and talent management

by on June 30, 2009 · 0 Comment POSTED IN: HR Info Center

Who are we trying to attract with our salary and compensation package

We want to make sure that when we’re trying to match salary and compensation packages to jobs, whether we’re using survey information or we’re actually using real data that we may have available. We also want to take into account the performance of the individual in the company.

“Well who do you like in terms of who you should be measuring your salary and compensation package”

What they would often say is, “I’m just like Google you know, one of the premier leaders, best payers in the business. And I think I should be paid just like them because I do the same kind of work.” Well if you look through, you saw that the performance – and wasn’t for these companies – wasn’t anywhere near as good. And therefore, it became kind of difficult to justify making most kinds of salary and compensation payments.

So, in some cases now, we’re actually going down when we do market pricing and not only looking at what is the performance of our company versus other companies but also the individuals that we’re talking about. Are they of the same quality – higher quality or lower quality, than a group of comparatives you may have identified? And that gets kind of dicey and generally that’s the CEO of the compensation committee or an outside board that’s helping us through that processes we’re looking for.

Edited remarks from the Rapid Learning Institute webinar-Executive Compensation: What Worked and What’s Fair by Steve Hall

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