THE RIDENOUR GROUP

A compensation philosophy is a formal statement documenting the organization's position driving employee compensation. It essentially explains the "why" behind employee pay and creates a framework for consistency. The philosophy is typically based on many factors, including the organization's financial position, the size, the mission industry, objectives, salary survey information, and the level of difficulty in finding qualified talent based on the economy, as well as the unique circumstances of the organization... Many considerations may go into the compensation philosophy of an organization, including competition (nonprofit, for profit; local area), degree of competitiveness (average pay, lower or above average), variable pay targets (incentives); variable pay design (based on goals and objectives, based on employee development & personal development), among others... Jay Ridenour (MBA, SPHR, SHRM-SCP) is an executive/leadership coach, and organization development/strategic human..

Primary location: Los Angeles United States