5 Ways to Create Your Compensation Advantage

December 05, 2011

Now that the war for talent has gone nuclear, attracting a new executive requires your organisation to have a compensation advantage.

5 Ways To Create Your Compensation Advantage: 

1. Understand your organization’s competitive positioning compared to the market.
2. Update or develop pay policies according to internal equity and the expectations of your board.
3. Improve the effect transparent compensation practices will have on your employee engagement and retention.  
4. Provide pay policy guidance for new hires.
5. Plan for general salary increase, promotions, and “hot skills” requirements.