Writing an Employee Compensation Policy
For legal protection and good business sense, every company should have an up-to-date employee compensation policy. What is the status on yours?
An organization should not wait for dire circumstances, such as a pay inequity lawsuit, to write down or update their employee compensation policy. All organization leaders should create a written policy document or refresh their existing one for legal protection, and as a guideline or framework for the company’s compensation program.
Below is a list of helpful tips and tools for creating an effective employee compensation policy that is specific to your organization.