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Rewarding employees - How to reward people in a fair and reasonable manner

It is unlikely anyone will agree that they are well paid ... the best you can hope for is that they agree they are fairly paid for the job they perform.

Rewarding employees is a complex art with some science thrown in ... here are some of the pieces of the rewards puzzle:

Elements of compensation
What amounts of pay are fixed Vs variable Vs discretionary?

Worth of a position
What techniques do you use to establish the relative worth of positions in your business?

Competitive markets rates
What practices do you use to plot your compensation position opposite your competitors for labour? What is your target position in the labour market?

1001 ways to reward employees
What mix of financial and non-financial rewards do you use?

 


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