To successfully attract, retain, and motivate your employees, your organization needs a competitive compensation program. This program should be competitive with base pay compared to similar jobs in your defined market area as well as reflect fairness and order between similar jobs within your company.
Utilizing compensation as an incentive encourages improved position performance and motivates employees to develop their potential abilities. A flexible pay administration program reflects changing economic and competitive conditions and allows for changes within your organization. It also follows the principles of equal employment opportunity, basing differentials in pay on qualifications, position responsibilities, and individual performance without regard to attributes not related to the position such as race, color, religion, sex, age, national origin, marital status, or any disability that does not preclude the effective performance of position accountabilities.
