HR 101: Compensation

Compensation refers to  much more than pay in the HR world, but we will focus directly on pay and closely related items.

Here is what an HR Compensation Specialist can do for your company:

-determine the real labor market value of your jobs
-set pay ranges for all the jobs
-calculate individual pay rates for each person in a job
-determine which jobs must be paid an hourly rate and which can be paid with a salary
-install sales commission systems
-structure bonus programs
-implement stock option programs
-write job descriptions
-manage performance reviews

And that's just for starters. We will discuss Compensation in more detail in the future. This is HR 101.

Lance