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Compensation Philosophy
Performance-driven and market-referenced– We value high performance and compensate
employees based on their contributions to the organization’s successes
– We are committed to paying staff a competitive wage that correlates to performance
Compensation PhilosophyBenefits to the organization– Clear message to the organization
• Reward high performance–Recognize and reward employees
• Committed to pay competitive wages–Hire and retain high performing staff
Compensation Philosophy AppliedPerformance-driven and market-referenced– Market Analysis
• Commitment to pay staff a competitive wage that correlates to performance
– Salary Structure• Group jobs of similar internal value guided by
market analysis– Base Increases and Lump Sum Payments
• Performance-driven– Rewards and Recognition
• Event/project specific recognition
Compensation Philosophy AppliedMarket Study
– We are committed to paying staff a competitive wage that correlates to performance• Annual process
• Monitor market competitiveness
• Market adjustments
Compensation Philosophy AppliedSalary Structure
– Group jobs of similar internal value guided by market benchmarked jobs
• MAIS has 13 salary ranges• Midpoints derived from market analysis• Competitive Range of Pay
– 10% above and below the midpoint
Compensation Philosophy AppliedPerformance-driven and market-referenced– Base increases and lump sum payments
• Priority is to pay more to our high performers and those who contribute to the organization’s success
– Accomplished by providing managers with guidelines
» Base Increase and Lump Sum Matrix» Position in Range definitions
Compensation Philosophy AppliedBase Increase and Lump Sum matrix– Align pay over time to performance
relative to position in range– Range of % increase
• Lower paid, higher performing staff may receive higher % increase
• Higher paid, lower performing staff may receive lower % or no increase
• Lump sums in lieu of base increase in some cases
Compensation Philosophy AppliedPosition in Range definitions– Guideline on what performance to expect
from staff based on their position in range• Below the competitive range: typically new to the
job (e.g. new hire, promotion), and/or not yet fully qualified
• Within the competitive range: fully qualified• Above the competitive range: qualifications
extend beyond the job and performance is exceptional and sustained at that level
Compensation Philosophy AppliedRewards and Recognition– A program to encourage and reward work efforts
and results that are exceptional and beneficial to the organization
• Peer to Peer “Spirit of Excellence” awards• Manager Reward - $25 gift card• Director Reward - $250, $750, $1500 payments
– projects – process improvements – production support – customer service – leadership
Compensation Philosophy AppliedConversations with Staff
– Help employees understand:• Compensation philosophy• How philosophy is applied
–Discuss performance expectations–Manage expectations for base
increases
Compensation Philosophy
Performance-driven and market-referenced– We value high performance and compensate
employees based on their contributions to the organization’s successes
– We are committed to paying staff a competitive wage that correlates to performance
– Questions?