Compensation is not the cut-and-dry subject it used to be. Once you had to worry only about an employee's base salary or, at most, a base salary and commission. Today, you need to think in terms of compensation packages - including salaries, stock options, employee stock ownership plans, pay-for-performance plans, bonuses, profit sharing, commissions, noncash rewards, variable pay, and much more.
Attribute it to what you will - the Silicon Valley effect, a boom economy, unparalleled competition for skilled workers, the increasing value of IPOs and stock options - but there's no question that compensation has become a more complicated and strategic issue for employers. To recruit, retain, and motivate the best employees, you need to understand compensation and reward plans and how they relate to your company's growth.
We'll help you get a handle on everything from settling on a compensation strategy to creating a variable pay plan with this collection of checklists, benchmarks, and advice from inc.com.
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