Salaries and Benefits

our paycheck can be a motivator to a certain extent. It is important

to note that when we look at compensation, it is much more than only pay but things such as health

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benefits and paid time off.

Some of the considerations companies use surrounding pay can include the following:

1. Instituting a standard process. Many organizations do not have set pay plans, which can result in

unfairness when onboarding (the process of bringing someone “on board” with the company,

including discussion and negotiation of compensation) or offering pay increases. Companies should

make sure the process for receiving pay raises is fair and defensible, so as not to appear to be


2. A pay communication strategy. Many companies work hard to make sure the fair pay process is

communicated to employees. Transparency in the process of how raises are given and then

communicated can help companies retain good employees. [1]

3. Paid time off (PTO). Companies pay us not only with our salary but also from the time off we

receive. Paid holidays and vacation time might be an example.