Overview

Pay is a key element of any employment deal. Maintaining fair and competitive pay programs is essential if an organization is to be successful in recruiting, retaining and rewarding talent. This unit will introduce you to the principles for developing and formalizing a pay policy.

At the end of this unit, you will be able to:

• Identify different types of compensation programs
• Describe how to move from an informal approach to compensation management to a more systematic approach
• Define the considerations necessary when developing a pay philosophy
• Identify ways to gather information on competitive pay rates
• Describe the process for managing compensation from year to year

Author Overview

Claudine Kapel is a principal of Kapel and Associates Inc., a human resources and communications consulting firm based in Toronto. She offers a variety of services for small to mid-sized businesses, including human resources development, corporate communications and leadership coaching.

Claudine partners with clients to enhance organizational performance through the development of strategies and programs that strengthen the connections between the business, its people and its customers. Her work includes design of compensation, performance management and career development systems.

Claudine also specializes in corporate communications. She works with clients to create open and powerful dialogue with employees and customers through communication audits and the development of communication tools and training. Through her work, Claudine also helps organizations to make the most of web technology to support internal and external communications.

Claudine has 20 years of human resources and communications experience. She is a frequent writer and speaker on HR and talent management issues and is a member of the Human Resources Professionals Association of Ontario.

For more information, please visit www.kapelandassociates.com or call (416) 422-1636.