In 2019, 70% of firms either had a compensation philosophy or were working on creating one for their firm, according to Payscale. A healthy compensation philosophy sets the tone for compensation decisions at a company.
But what if your compensation philosophy is in need of a refresh? Or what if you’re one of the firms who is
Willis Towers Watson’s Catherine Hartmann, rewards practice leader for North America, typically outlines five key considerations for her clients: competitive positioning, segmentation, performance orientation, affordability and governance.