What can you build with strategic compensation?
Trust
What do companies "attract and retain" with total compensation?
Talent
Employees seek employers that pay competitive salary and...
...also provide benefits.
How many steps are required (according to the presentation) to create a compensation strategy?
7
The goal of HR is to find a balance between...
...organizational goals and employee needs.
Which three steps are required to establish the internal value of jobs?
Job Analysis, Job Evaluation and Pay Equity.
Is it important to prepare for a job evaluation?
Yes
Can you mention one of the three evaluation methods?
Possible answers: Ranking ; Job Classification ; Point Method.
How do organizations set pay levels using external market values?
By external equity.
Designing the internal pay structure can be based on...
...competencies and skills.
How many main functions has the evaluation committee got? (Number)
3!
What does the compa-ratio compare?
Your salary to midpoint of salary ranges in similar jobs.
Can you mention one of the two current issues related to compensation?
Compensation transparency or compensation flexibility.
