The merits of merit pay for teachers should be discussed by experts on merit pay and pay for performance. Politicians, parents and other interested parties all have a lot to say about the topic, but the opinions of compensation professionals is often overlooked.
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What salary levels can be expected for key jobs in the health care industry? Since the health care industry is going through transformation due to legislative reform, as well as increased merger and acquisition (M&A) activity, certain jobs will increase in demand and their salary levels will be impacted as a result.
This week the SEC approved the non-binding say-on-pay rule. This is one component of the executive compensation provision of the Dodd Frank Act, a comprehensive financial regulatory reform enacted due to the collapse and near demise of many industry giants, namely Lehman Brothers and AIG. The executive compensation provision restricts executive pay in order to discourage companies from awarding lucrative packages that encourage risky behavior.
Annual compensation increases sometimes have been justified by calling them Cost of Living (COL) adjustments, but this rationale is even less relevant to setting appropriate wage levels than in the past. Employees often expect salary increases at least equal to the “cost of living” increase as measured by the federal government’s Consumer Price Index (CPI).
ERI compiles the most robust job competency, cost-of-living, executive compensation and salary surveys (over 565,000 organizations' data) available. Over 10,000 annual subscribers use ERI analytics for compensation and salary planning, expert witness testimony, relocations, disability determinations, board presentations, setting branch office salary structures, and determination of defensible beginning to experienced salaries & bonuses. ERI Assessor Series allow quick analyses with retrieval of source documents (click on a dot for a web download) via online software or purchase traditional surveys via ERI Salary Surveys.
Health care benefit costs continue to affect salary planning. ERI’s perspective is mathematical, as reflected in the Rule of 72. Divide a percentage (%) into the number 72, and you get the approximate number of years for a sum to double. Much is written about the rise in US health care costs as compared to wages. ERI sees it as simply a mathematical problem.
This introductory webinar will discuss practical guidelines that may be used for identifying, selecting, analyzing, and using market data to complete essential tasks in determining external competitiveness and establishing an effective market-based pay program. The importance of communicating the compensation program effectively will also be discussed, and practical tips will be provided to assist you in "getting the message" to your employees so that they may understand and, ultimately, buy into the program.
- Cost of Living
- Executive Compensation
- Health Care
- job salaries
- job salary
- Merit Pay
- pay performance
- Pay surveys
- pay varies
- performance review
- Performance Review Process
- salary comparision
- salary levels
- Salary Planning
- Salary Survey