By Roger J. Plachy, Sandra J. Plachy
Considering 1986 this definitive, step by step source has guided reimbursement and human assets execs in a single of the main not easy projects they face: designing and enforcing an efficient pay program.
Now, during this extended and up to date version, readers study the serious value of linking pay to functionality by means of concentrating on real effects accomplished. The publication offers a ready-to-go version to conform for the actual wishes of person businesses. It exhibits tips to: tie the pay application into the organization's strategic plans
-- comprehend and select one of the recommendations available
-- study and review particular jobs
-- speak the plan to staff
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Extra info for Building a Fair Pay Program
Job contributions are either: Job results required or Extraordinary resultsgenerally innovations or system changes, beyond results required Page xvi 3. The critical architecture for managing job contributions is a profile of job results, job duties, and four possible outcomes. The Job Results Management Profile links job requirements with outcome criteria for appraising and, more important, planning job contributions. Managing is communication first, then measurement. Occasionally the planning and appraisal processes will be a unilateral management action, but they are generally more productive when there is a collaborative dialogue between manager and employee.
What is the total cost of your current benefits? (Refer to Figure 2. ) What compensation expenses will your financial structure and strategic plans accommodate? How do your benefits compare with those offered by other organizations in your industry? How do they compare with those offered by other organizations in your area? What do your employees know about their benefits? How do you keep them informed about the value of their benefits? Page 19 Strategic Planning for Phase 1 Strategic Planning for Phase 1 On your first quick walk through the project phases, record your initial thoughts on policy issues that will have to be decided.
However, the principle remains the same: employees can understand start-up and growth coststhey face the same situation as they invest in their families or themselves. You just need to inform them. Consider Trends in Pay and Benefits Administration Trends in the determination of benefits and their mix with pay must be calculated in your planning. Find out what benefits other organizations are offering to their employees in your local area and in your industry. Attend conferences, read current literature, and be aware of legislative deliberations to understand what pay and benefits options are being considered.
Building a Fair Pay Program by Roger J. Plachy, Sandra J. Plachy