Page 238 - Bruce Ellig - The Complete Guide to Executive Compensation (2007)

224 The Complete Guide to Executive Compensation

1. Determine the type of job-evaluation plan to be used.
2. Train those who will prepare the job descriptions and those who will do the evaluation of the job.
3. Select the key jobs to be priced in the marketplace.
4. Obtain the needed salary survey data.
5. Slot the market-priced jobs in the structure and the remainder in relation to the surveyed jobs.
6. Identify performance factors and set up merit guidelines.
7. Communicate and implement the plan.
8. Evaluate the results and make appropriate changes.
Table 5-45. Salary action steps

With the salary element behind us, we move to the next compensation element—
employee benefits and perquisites
Note: You are again reminded not to rely on accounting, tax, SEC, or other professional
service statements in this chapter. You need to seek appropriate professional counsel for such
guidance. Statements made in this chapter and elsewhere are offered as being illustrative to
help frame such further investigations by the reader with counsel.