4 Steps to Create a Compensation Plan That Makes Dollars and Sense

There are few business concerns that require as much careful consideration as the compensation plan.

If your mix of pay and benefits comes in too low, good luck hiring skilled candidates and keeping important employees. Come in too high, and you risk blowing your budget if your company doesn’t perform as expected, forcing you to make cutbacks. It’s a balancing act like no other.

Software Advice has created this free guide that outlines 4 easy steps to creating a compensation plan.  These steps include:

Step 1: Invest Heavily in Job Analysis

Step 2: Decide Where to Go Above and Below the Market

Step 3: Mix in Short-Term and Long-Term Benefits

Step 4: Have Multiple Plans Based on Company Performance

Final Considerations

Download now to learn more!