Top COMPENSATION BENEFITS REPORT Last Update

Top COMPENSATION BENEFITS REPORT 2002 Last Update and other market pay compensation

Top COMPENSATION BENEFITS REPORT 2002 Last Update market pay compensation according to market III TOTAL COMPENSATION Total compensation measures an employee s base salary benefits and other perquisites that the employer provides When comparing compensation with that of other employers whether public or private the focus is on total compensation rather than base pay This report includes comparisons of base market pay compensation Choosing Whether to Lead Lag or Match the Market pay range total costs of each pay strategy were computed Table 2 shows the total annual cost associated with each pay strategy Lagging the market by 15 would have a direct wage cost of 395 897 matching the market would cost 465 761 leading the market by 15 would cost 535 625 Determining Benefits Compensation Training Presentation Auburn University Compensation Ensuring Pay is Competitive and Fair ExternallyCompetitive and Fair Externally For each benchmark job we look at the pay distribution in theFor each benchmark job we look at the pay distribution in the external marketplaceexternal marketplace 34 000 32 000 28 000 30 000 Benchmark jobs are those commonly found in the Compensation Strategies and Practices Compensation plan that equalizes cost differences between identical international and home country assignments Global Market Approach Compensation plan that attempts to be more comprehensive in providing base pay incentives benefits and relocation expenses regardless of the country to which the employee is assigned Tax Equalization Creating a Market Based Compensation Structure Market Based Compensation Structure Introduction Steps 1 Gather Background Information 2 Selecting data from relevant market 3 Conducting market data analysis 4 Developing the pay structures 5 Calculating the costs of pay structures 6 Implementation and evaluation Gather Background Information Selecting and Preparing Data Conducting

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