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Why Strategic Compensation Planning is Critical for a Business

How do you push for better compensation planning at your company? How can you analyze your company’s current compensation practices and convince management that strategic compensation planning is critical for a business?

Questions like these are best answered by a seasoned compensation professional. Today, you’ll get high level answers to the most complex strategic compensation planning questions from a seasoned expert in strategic compensation planning from Mr. Sharon Koss.

Ms. Koss is the founder and president of Koss Management Consulting. She has over 30 years of experience in human resource management and is also the author of Solving the Compensation Puzzle: How to Link Performance with Pay, published by the Society of Human Resources Management (SHRM).

Up until this point, Compensation Today has sought to bring you in-depth articles on strategic compensation plans that include the basics of compensation planning and related HR topics. Now, we’ll go beyond the basics and help you improve your strategic approaches to compensation planning and offer you better input on how to communicate that knowledge to your peers.

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When asked why she’s offering this advice, Ms. Koss says, “Once I’ve helped a client work through a complex compensation challenge, the information I’ve given them is valuable, but limited to a small audience. I want to share that knowledge and use it to help other HR professionals do their jobs better.”

Ms. Koss also says, “HR is being asked to practice more strategic approaches to compensation planning because companies can’t afford it otherwise.” She also says that only large size companies with several hundred employees or more can afford to have a compensation professional on staff.

When reflecting on her many years of experience in strategic compensation planning and the nitty gritty of HR, Ms. Koss said off-hand, “If you put me on a national HR Jeopardy show, I could win. I’m not being immodest; I’m just telling you the truth.” HR Jeopardy? Maybe one day. For now, we’ll enjoy an exclusive, colorful, informative content from Ms. Koss on strategic compensation planning.

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