Philosophers probably have a difficult time with our definition of “philosophy.” Most resources will tell you that a compensation philosophy is a statement explaining the company’s position about pay. For most of the companies who take the time to write a philosophy, the result tends to look something like this:
“Our compensation program is intended to attract, motivate and retain talent employees. Our goal is to target base pay at the 50th percentile for employees who meet expectations. We offer various incentive and recognition programs that are designed to provide compensation for the achievement of company, team and individual objectives. Our principles include striving for internal and external equity, focus on stated corporate objectives, alignment with investor interests and maintaining or building our position in the marketplace.”
What if I told you that a philosophy was not a statement, but an activity?
Here’s an explanation of Continue reading