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SHOW ME THE MONEY Patricia A. Frame Strategies for Human COMPENSATION BASICS.

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Presentation on theme: "SHOW ME THE MONEY Patricia A. Frame Strategies for Human COMPENSATION BASICS."— Presentation transcript:

1 SHOW ME THE MONEY Patricia A. Frame Strategies for Human Resources @2Patra COMPENSATION BASICS

2 Pay - Wages, Salary Pay-related Legal Issues Benefits - What, Why, How Incentives - Performance-based, Awards, Perks

3 COMPENSATION BASICS PHILOSOPHY AND CULTURE Philosophy: What, why, market Culture: How supports or destroys

4 COMPENSATION: PAY Support business objectives First consideration of employees Supports or damages culture

5 COMPENSATION: PAY LEGAL ISSUES Minimum Wage Laws Federal, State and Local Overtime Pay (FLSA)

6 COMPENSATION: PAY LEGAL ISSUES Mandated Benefits  Social Security  Medicare  Workers Compensation  Unemployment Insurance

7 COMPENSATION: PAY WHAT SHOULD I PAY? Market-based Pay Concepts Pay Data Resources Simple Pay Structures

8 COMPENSATION: PAY Pay reviews Base pay changes Employee Communications

9 COMPENSATION: PAY What Should I Consider? Pay + incentives + benefits + perks Fixed pay, variable pay, variable benefits


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