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How To  Develop A  Total  Compensation  Strategy
 

How To Develop A Total Compensation Strategy

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    How To  Develop A  Total  Compensation  Strategy How To Develop A Total Compensation Strategy Presentation Transcript

    • How to Develop a Total Compensation Strategy May 4, 2009 Presented By: Natasha Lomas
    • Agenda  Define Compensation  Define Strategy  Strategic Choices  Tailoring the Compensation System to Business Strategy  The Total Compensation System  Compensation Elements  Key Steps  Rewards of Work  Questions
    • What is Compensation?  Design  Diagnosis  Re-enforce
    • What is Strategy?  Strategy refers to the fundamental directions that an organization chooses.
    • Strategic choices Corporate objectives, Business unit strategic plans, visions strategies and values HR Strategies Strategic Social, competitive, compensation and regulatory decisions environment Compensation systems Competitive Employee attitudes advantage and behaviors
    • Aligning Compensation Strategy Assessment Industry and Labor Strategic Business & Employee Inputs Market Practices Operating Inputs and Preferences and Trends Compensation Philosophies and Objectives Organization Base Pay Performance or Fringe Benefits Compensation Design Variable Administration Delivery Pay, Nonmoneta ry & Other Monetary Rewards & Recognition
    • Comment and Strategy Flexibility and Value Management Total Compensation System Motivation and Performance
    • Compensation Elements Fringe Benefits Mid/ Long-Term Incentives Short Term Incentives Base Salary
    • Key Steps Assess Total Compensation Implications Reassess Map a Total Compensation Strategy Implement Strategy
    • Questions