Compensation Strategy Assessment by Tyler Meuwissen | Feb 19, 2018 | Compensation | 0 comments Determine how effective your organization’s pay practices are performing. Take this 10-question assessment and get your score! Please enter your email: 1. Our company has a compensation philosophy/strategy. True False Unsure 2. We use reputable market surveys when we benchmark market pay for jobs. True False Unsure 3. We have established pay structures or wage bands. True False Unsure 4. We utilize our pay structure when determining pay for new hires, pay increases and promotions. True False Unsure 5. Our compensation program is an effective tool in attracting and retaining top talent. True False Unsure 6. We periodically review the effectiveness of our variable pay plans. True False Unsure 7. Our leadership team understands the value of an effective compensation plan & philosophy. True False Unsure 8. Our company offers variable play plans in the form of bonuses, incentives, and/or recognition. True False Unsure 9. We have a clearly communicated compensation review process. True False Unsure 10. We document the business factors used in making salary decisions for our employees. True False Unsure Loading … Tyler Meuwissen Tyler is the Compensation and HR Analyst at Xenium HR where he partners with companies to build compensation philosophies and plans. Related Blog PostsWhy great employers focus on total rewards, not just compensationWhat You Need to Know: Washington’s Equal Pay ActA New Approach to Performance Management with Michael Bungay Stanier Submit a Comment Cancel replyYou must be logged in to post a comment.