software to keep track of it all. The three major compensations forms are base pay, merit pay and benefits, yet it is rarely found that all three of these components were located in the same system. This causes errors and lots of man hours to keep cross referencing and double checking to make sure that everything is correct. Even though compensation in any form (base pay, merit pay, benefits, bonuses, etc) is a financial obligation of the company and astonishing 19% of large companies do not involve their CFO or any financial people in their compensation strategies. This sets them up for great loss. With the financial department taking things in one direction and the benefits department taking funds in another direction, very quickly the company can find themselves in financial trouble. A well managed benefits / compensation package is a vital part of running a successful company. The right amount of compensation will bring the right amount of motivation. No one wants to work for nothing. Employees tend to base their value to the company and the effort they are willing to exert based on what they get in return. If the company is not functioning properly from the compensation level, chances are it won’t be long before other parts of the business suffer as well. The value of proper note taking is priceless. I tend to take more notes than I need to. This time I decided to try something different. I read my questions I needed to answer, read the article without taking notes, then read it again and took notes but a lot less than I usually do. What I thought was just the important points rather than a broad overview like I normally would. When it was time to answer the questions I had to refer back and read one more time in order to get my information. Taking lots of notes and highlighting the important point is going to continue to be my strategy. It is what works for me.
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Want, merit pay, Base pay, note taking strategy, major compensations forms