Compensation Strategy Assessment

Compensation Strategy Assessment

Determine how effective your organization’s pay practices are performing. Take this 10-question assessment and get your score!

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1. Our company has a compensation philosophy/strategy.

 
 
 

2. We use reputable market surveys when we benchmark market pay for jobs.

 
 
 

3. We have established pay structures or wage bands.

 
 
 

4. We utilize our pay structure when determining pay for new hires, pay increases and promotions.

 
 
 

5. Our compensation program is an effective tool in attracting and retaining top talent.

 
 
 

6. We periodically review the effectiveness of our variable pay plans.

 
 
 

7. Our leadership team understands the value of an effective compensation plan & philosophy.

 
 
 

8. Our company offers variable play plans in the form of bonuses, incentives, and/or recognition.

 
 
 

9. We have a clearly communicated compensation review process.

 
 
 

10. We document the business factors used in making salary decisions for our employees.

 
 
 

Tyler Meuwissen

Tyler is the Compensation and HR Analyst at Xenium HR where he partners with companies to build compensation philosophies and plans.

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