Sharon L. McKnight, draws from more than 20 years of management experience, including 6 years as a director of human resources, to develop compensation administration tools and write about compensation issues. Her experience in both operational and HR management provides her with a practical approach to providing online resources that address the challenges facing compensation and human resource professionals.
She achieved certification as a Senior Professional in Human Resources (SPHR) by the Human Resources Certification Institute in 2007 and as a Certified Compensation Professional (CCP) by the WorldatWork Society of Certified Professionals in 2014. She attended Middle Tennessee State University and is a member of the Society for Human Resource Management, the Middle Tennessee Chapter of SHRM, and WorldatWork.
Simply put, a pay approach is the method an organization uses to deliver base pay to its employees. For example: job-based pay, market-based pay, knowledge/skill-based pay, and experience-based pay are all methods of pay delivery. Which one is the right one? Any of them can be a viable method, depending on the organization’s needs and goals. One of the most common methods is job-based pay.
Compensation planning can be a very time consuming task. It’s vital to attracting and retaining qualified talent, but can be a bit less cumbersome when managed with a practical approach.
For me, one of the neat things about being an editor here at BLR® is the opportunity to interact with HR and compensation professionals on a regular basis. As the comp editor, I’m asked about managing the compensation process and, for the most part, they’re pretty routine queries about things like how to market price a job and how to set up job grades. Every now and then, though, I get questions that are a little farther afield, like these …
Like other professionals, compensation professionals can throw around a bunch of terms and acronyms that may or may not make a lot of sense to those not in the field. Here’s a short overview of compensation terms that are sometimes confused with one another.
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