(Submitted by Brad Bapst, Director, Small Business Development Center, OSU South Centers)
Employee compensation is a very important topic that must be monitored in any organization. If not done correctly, it can lead to many underlying issues and can eventually destroy the organization. It is important to recognize employees for what they do on a daily basis and the revenues they help generate. Sometimes leadership can fall into a pattern of compensating employees solely based on titles and credentials, not taking into account the contributions of those without the lofty pedigree. Many times these are the individuals who are driving the success! It is important for leadership to realize these contributions and make sure these employees are recognized and compensated fairly with performance and industry peers.
Take a look at some areas to consider when evaluating employee compensation in your workplace including Equity, Purpose, Accurate Data, Job Descriptions, and More Than Money at asae Resources.