Introduction 'fair compensation' means ensuring the pay for employees is set at a level that is both fair and liveable, and provides equal pay for equal work a framework for fair compensation covers the overall compensation process ( although it does not in itself form part of any contract with employees.
This course explores topics in basic total compensation design and decision- making it will provide the student with knowledge required for planning, developing, and administering total compensation programs that are compliant with government laws and regulations topics include: wage decisions, budgeting, benefits,. Compensation of employees (ce) is a statistical term used in national accounts, balance of payments statistics and sometimes in corporate accounts as well it refers basically to the total gross (pre-tax) wages paid by employers to employees for work done in an accounting period, such as a quarter or a year however, in.
Organizations that take the time to ensure they have factored in all of the following components will be more effective in managing their competitiveness externally job descriptions are an important element of your organization's overall compensation philosophy when they are used to develop a consistent salary structure.
Your plan should address the following details: how your plan supports key objectives an evaluation of current trends and issues in total compensation and a prediction of future trends internal and external equity a wage management process and rationale a retirement plan and how participation will.