Navigating Compensation: Accurately Map Your Latitude and Longitude

Compensation can be a complex and challenging course to navigate. You, the HR professional, are required to accurately map out your compensation program in order to effectively retain and recruit high performing human capital for your organization.

In the past, explorers used compasses to obtain general directions. Christopher Columbus thought he had landed in the East Indies, when in fact he had arrived in the Americas. During his lifetime, he never admitted to reaching a continent previously unknown to Europeans. Even Daniel Boone, the famous American pioneer and explorer, upon being asked if he had ever gotten lost replied, “I can’t say as ever I was lost, but I was bewildered once for three days.”

Market Data Only – Really? Utilize Job Valuing.

In an era when it is necessary for organizations to create compliant, competitive and equitable compensation programs, taking a shortcut and pulling “only” market numbers doesn’t cut it. Using a multi-factor approach is imperative when establishing your organization’s compensation structure, which provides your organization with the level of sophistication, defensibility and compliance that is needed in today’s world.