文档介绍：Elliot R. Susseles, Senior Vice President
The pany
September 17, 2004
Copyright © 2004 by The Segal Group, Inc., the parent of The pany. All rights reserved.
“Quantifying pensation”
Why is pensation Important?
Lack of understanding of pensation costs (among employers and employees)
Need municate and educate employees on all pensation that they receive (not just salary)
1
Policy Questions
Is your pensation structure:
Competitive with the market?
Aligned with your strategic plan?
Aligned with your employees’ values?
2
Defining pensation
Employees’ Perceptions and Values
Quantifying pensation
Case Study—State of Arizona
Discussion Outline
3
Defining pensation
IMPORTANT QUESTIONS
1) What is the true cost of your pensation?
2) What impact does each element have on satisfaction, retention, and recruitment?
3) What are the strengths and weaknesses of your pensation structure?
Employee
Value Proposition
Compensation
Affiliation
Work Content
Career
Benefits
anization support
Work anization citizenship
Title
Base salary
Incentives
Cash recognition
Premium pay
Pay process
Benefits
Non-cash recognition
Perquisites
Advancement
Personal growth
Training
Employment security
Variety
Challenge
Autonomy
Meaningfulness
Feedback
4
Financial Elements of pensation
Base pay
Overtime costs
Pay differentials
Paid time off
Health and Rx benefits
Dental and vision benefits
Life and disability insurance
Retirement benefits (including Social Security and retiree health)
Other benefit costs
pensation calculations assess all the financial costs of pensation and benefits to the workforce.
Direct Financial
Indirect Financial
5
Financial Elements of pensation
Base pay
Overtime
Pay differentials
Paid time off
Health and Rx insurance
Dental and Vision coverage
Life and Disability insurance
Retirement benefits
Other benefits
Direct Financial
Indirect Financial
6
Defining pensation
Employees’ Perceptions and Values
Quantifying pensat