{"id":30985,"date":"2019-07-13T15:21:53","date_gmt":"2019-07-13T15:21:53","guid":{"rendered":"https:\/\/www.dvirc.org\/insights\/employee-compensation-a-powerful-strategic-tool-for-your-toolbox\/"},"modified":"2023-03-08T14:02:07","modified_gmt":"2023-03-08T14:02:07","slug":"employee-compensation-a-powerful-strategic-tool-for-your-toolbox","status":"publish","type":"post","link":"https:\/\/www.dvirc.org\/insights\/employee-compensation-a-powerful-strategic-tool-for-your-toolbox\/","title":{"rendered":"Employee Compensation: A Powerful, Strategic Tool for Your Toolbox"},"content":{"rendered":"
Written By: Jim Geier,\u00a0President and CEO<\/i>,\u00a0HCC Partners<\/i><\/p>\n
Simply stated, compensation, both pay and benefits, is one of the tools that organizations use to attract, retain and reward their employees. The compensation system that a company decides to implement should be strategic, competitive, affordable and give you an advantage in the marketplace. Compensation can also be used as a powerful strategic tool (in your business toolbox) to increase employee engagement and commitment.<\/p>\n
For the manufacturers I work with, I recommend creating a business process for compensation, similar to what they would develop to produce a product. This way, they will be thorough and also take competitive pressures and other factors into consideration.<\/p>\n
Six things to keep in mind to bring your compensation strategy to a whole new level:<\/p>\n
Experiencing challenges creating your compensation strategy? Let DVIRC, together with our strategic partners, help you better align your compensation with the business. For more information\u00a0Contact us here<\/a>.<\/u><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"Written By: Jim Geier,\u00a0President and CEO,\u00a0HCC Partners Simply stated, compensation, both pay and benefits, is one of the tools that organizations use to attract, retain and reward their employees. The compensation system that a company decides to implement should be strategic, competitive, affordable and give you an advantage in the marketplace. Compensation can also be […]","protected":false},"author":2,"featured_media":30986,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"acf":[],"yoast_head":"\n