Sherrie Suski explores compensation plans in the workplace.

1. Driving Compensation Plans
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2. How do you determine the value that
your compensation plan brings?
• Ask Questions
• Determine goals
• Define your
market
• Know you
competition
• Determine you
reward strategy

3. Page 3
Compensation- Getting it Right
Determine your goals- what problem are you trying to
solve?
Define your market by geography, or competition in your
industry
Decide how competitive you need to be- some markets
like Big Data are highly competitive whereas others have a
plentiful supply of candidates
ket, many employers have found Predictive
Index to be one of the best.
Ask Questions-to determine your company’s
compensation strategy.
Decide what behavior you want to reward and
what types of rewards you want to give

4. How do you choose the best method to
implement a compensation plan for your
organization?
• Executive Buy
in
• Train your
Managers
• Communicate
the process

5. Page 5
Compensation- Putting the Plan in Place
Train you managers- on the compensation process
giving them the tools they need
Train your managers- to have compensation discussions
with their subordinates
Communicate the process- what role does the
management team play and what is their timeline
ket, many employers have found Predictive
Index to be one of the best.
Get your executive team bought in to what you are
proposing and why
Communicate the process- what role does HR play
and what authority do they have

6. Page 6
Summary
• A well thought out, communicated and implemented Compensation plan
goes a long way to retaining and engaging a workforce.
Value employee contributions
Retain your best and brightest employees
Ensure optimum employee productivity
Lower the risk of turnover and costly replacements