<ul><li>Compensation planning is how you figure out the best way to compensate employees for their work.</li><li>When compensation has such a massive impact on retention, hiring, and engagement, getting it right becomes essential.</li><li>Any change in compensation has to be communicated organization-wide as clearly as possible.</li><li>Many organizations tie performance into their compensation plan in one way or another.</li><li>While performance-based compensation is often limited to roles like sales and marketing, it isn’t always the case.</li><li>Implemented correctly, performance-based compensation can create a fairer pay structure and help to undo historical inequities.</li><li>HR leads efforts to build, adjust, or completely revamp an organization’s compensation strategy.</li><li>Performance goals and metrics should be tracked to make the compensation plan as objective as possible.</li><li>Compensation planning software can guide teams through the decision-making process.</li><li>Employee feedback should be gathered through surveys to gauge the effectiveness of the compensation plan.</li></ul>

Compensation Planning Based On Performance

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