Focus on Healthy Workplaces-Compensation

• To contribute to a healthy and effective working environment, compensation strategies must include fairness and equitability.
• The most  common point of lack of fairness is the amount paid for internal promotions versus outside new hires.
• Great organizations provide “value statements” to their team members showing the total of all compensation and other contributions by the company.
• Many healthy workplaces now provide assistance and training to team members to assist them in managing their personal finances.
• Compare your compensation plans to your competitors and ensure that you are within a common range.  You do not have to be the highest but should not be the lowest.