In this video, human resources professional consultant and trainer Catherine Mattice how to determine compensation and benefits suitable to workforce needs of a company, business or organization. This tutorial also covers the role of an HR department in designing options for a company’s pay structure for employees.
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- Your organization's most powerful asset is its people.…Compensating them for their contributions…is a critical part to attracting, motivating,…and retaining employees so your business can grow.…To determine what to pay your employees for their work…and how to reward them for their successes,…there are several things to consider.…First is your organization's culture.…For example, if there is emphasis…on teamwork and collaboration, you'll likely provide…similar benefits across all levels…and deliver standard pay increases annually.…
If the emphasis is on individual performance,…your pay structure might include bonuses…for reaching individual goals.…Also consider the needs of your workforce.…What benefits will they find valuable…given their particular age, skills, and experience?…An attorney I know told me that she was frustrated…because as the owner, she was matching 401k contributions…and none of her employees seemed to notice.…Instead of being angry at them,…it was important for her to realize…that she needs to spend that money…
HR consultant Catherine Mattice outlines some of the considerations of the human resources professional, such as balancing the needs of employees with the interests of the organization. She reveals how to conduct an HR audit to identify HR practices that need improvement. She then outlines core HR responsibilities: staffing, training, documentation, compensation and benefits, performance reviews, job descriptions, compliance with state and federal regulations, and more.
- Building trust with employees
- Conducting an HR audit
- Classifying employees
- Setting up compensation and benefits
- Creating and enforcing company policies
- Writing job descriptions
- Recruiting, interviewing, and hiring new employees
- Managing employee performance
- Training employees
- Disciplining employees