White Papers
The New Pay: Innovations in Employee Compensation
Overview Companies spent a great deal of time, effort and anguish on elaborate job evaluation systems to measure "internal worth"; pay grades were many, often with small percentage differences between them, and followed a hierarchical pattern; salary ranges were rigid and employees generally received annual cost-of living increases with perhaps a small merit amount thrown in; each year the boss would announce a bonus award with only a select few knowing how it was decided. In general, the pay systems were highly centralized, secretive and inflexible. This paper discusses the developments in compensation practices that have culminated in the new paradigms in use today, with suggestions for new formulae to hire and retain key employees.
| Publisher | Business Forum | File Format | HTML |
|---|---|---|---|
| Date Published | August 2003 | Downloads | 5 |
| Format | White Papers | ||
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