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Compensation

Compensation

Compensation management is an important part of any human resource system. How you compensate employees is of course up to you but here are some guidelines that you many find useful:

  • Compensation can be a combination of paid and unpaid compensation. Paid compensation is of course the wage and any other financial bonuses.
  • Non-financial compensation can be training opportunities, flex time, or tele-work.
  • The right mix of paid/unpaid compensation is important to employee satisfaction and to your business competitiveness.
  • Compensation must be fair to every employee and to all employees. Pay inequity between employees within the same company, and from company to company is the number one reason for employee compensation dissatisfaction. It's not what people get paid, it's what they get paid in relationship to others that's important.

Features

  • Capture all wage and bonus history for at-a-glance reference at the next wage review.
  • Reporting function allows you to compare wages of all employees in a similar job description. Consider length of employment, employee issues, education, and past performance before deciding on wage adjustments.
  • Use the filter option to determine bonus values for any given time period
  • Attach notes and documents to support wage adjustments

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