Understanding compensation expense factor
When building our compensation management for coming cycles, we have a lot to think about: cost of living increases, recruitment needs, retention issues, and organizational budget changes. We have to balance our growth plans with organizational realities, and while we may want to full our teams with senior talent, we have to make sure it’s a financial possibility. Compensation expense factor is the metric that will determine the present and future of your compensation management processes. While compensation is often an organization’s most significant expense, it doesn’t dictate the organizational…