In this video, review compensation philosophy.
- I've had employees come to me very upset…because they didn't get the kind of raise…they thought they deserved.…Often the argument used is that they've been…with the company for a long time…and they feel that for all their years of service…they deserve a bigger raise.…If your company culture supports this argument…then you're working somewhere where compensation is seen…as an entitlement.…There are two primary compensation philosophies,…entitlement and pay for performance.…
An entitlement orientation exists…when a company values longevity more than performance.…Companies that pay cost of living adjustment for example…are companies where an entitlement philosophy exists.…A pay for performance philosophy is…when pay increases are directly linked…to an employee's performance.…Both compensation philosophies are valid.…It's the HR pros job to make a recommendation…as to the best philosophy based on the company's goals.…
Still you may find a blend of both philosophies…in your company.…HR pros should lead a discussion on establishing…
- Modeling ethical standards
- Managing legal risks
- Finding and interviewing candidates
- Designing training and measuring its effectiveness
- Designing total rewards
- Promoting diversity and inclusion
- Employee engagement strategies
- Managing complaints and grievances
- Implementing workplace programs
Skill Level Advanced
Introduction to the PHR Certification Examwith Joanne Simon-Walters58m 16s Intermediate
1. Exam Topics: Business Management
2. Exam Topics: Talent Planning and Acquisition
3. Exam Topics: Learning and Development
4. Exam Topics: Total Rewards
5. Exam Topics: Employee and Labor Relations
6. Study Plan
Conclusion and Farewell
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