Where do you begin when “setting up compensation” is your new assignment?

Begin with the executive team and a conversation about compensation philosophy that includes whether the organization will lead, lag, or lead-lag the market, which impacts how various parts of the compensation plan will be structured. There's a lot more to consider, though, when developing the plan structure and executing the implementation. For example, how do you evaluate positions and set up job grades and how do you know which benefits to provide to employees?

Introduction to Compensation: Comp 101 explains the basic elements of compensation planning in easy to understand terms and provides the guidance needed to set up an effective compensation program.

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