How well do your employees understand your compensation plan and philosophy?
Clearly communicating compensation to your employees is essential to long-term success but it can be complicated. Simplify how you communicate your compensation plan in four steps that ensure transparency and make your job easier.
Four Tips for Communicating Your Compensation Plan to Your Employees gives you straightforward advice on how to explain:
- Basic pay
- Reasons for differences in starting pay
- Wage differentials
- Total rewards