Let’s face it, end-of-year compensation decisions are stressful. Even the most successful owners may lack the confidence needed to have meaningful discussions. Here’s a list of planning tips to improve employee pay meetings and ease the annual ritual.
1. CONFIRM ROLES AND RESULTS Dust off your firm’s job descriptions and ensure you have a clear understanding of what your employees are responsible for accomplishing in their current roles. If you aren’t sure the job descriptions are current or you don’t have job descriptions, ask employees to describe their key responsibilities to you and the percentage of time spent doing each one.
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