Higher pay, fair pay, equitable pay, and pay transparency are increasingly expected by talent. In a volatile market where salary information can be found with a search engine, traditional models for compensation management aren’t satisfying employees or setting businesses up for success.
Compensation strategy is a mix of how your organization competes when it comes to attracting, retaining, and engaging employees and managing the costs associated with human capital that fuel growth. Using a compensation maturity model as a progressive rubric or ladder can help your organization understand where it currently stands and where it must get to.
- Why compensation strategy is so critical right now
- What is the Compensation Maturity Model and why you need one
- How to apply the Compensation Maturity Model at your organization