The Compensation Model is a strategy that businesses use to determine how and how much to pay their employees. It can include various components such as base salary, bonuses, benefits, and other perks. The model can significantly affect employee motivation as it directly relates to their financial well-being and sense of value within the organization. A well-structured compensation model can incentivize employees to perform better, increase their job satisfaction, and reduce turnover rates.
Follow up to the first part of our Business Strategies and Frameworks compilation, part 2 offers you...
Download template