Transcription of Developing & Maintaining A Sound Compensation Program
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Developing & Maintaining A Sound Compensation Program
1 Developing & Maintaining A Sound Base Pay Program By Ronald C. Phillips and Jeffrey M. Robinson Synopsis Introduction Base Pay Program Objectives Establish Fairness Insure Competitive Pay Directs Work Activity Controls Payroll Costs Compliance With Laws & Regulations Is Efficient Components Of A Wage Structure Job Families & Pay Grades Minimum Wage Midpoint Maximum Wage How To Develop A Wage Structure Step 1 Identification Of Jobs and Job Content Step 2 Documenting The Principal Features Of The Job Step 3 Building A Job Hierarchy Step 4 Establishing Job Worth Step 5 Assigning Pay & Pay
3 Developing & Maintaining a Sound Base Pay Program Introduction A construction company’s compensation program should be designed to achieve three
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