I can't help but follow on to the previous two compensation philosophy posts with this.
In an article published in the June issue of workspan entitled "New Rules: Paying for Performance, Part Two", my former colleague Brad Hill (now a principal at Tandehill Human Capital) and his co-author Christine Tande cite an example of a particularly powerful pay philosophy:
A major steel producers offers a pay philosophy that states, "We will hire five people to do the work of ten and pay them like seven." This philosophy is fresh, vibrant and communicates an above-market pay practice closely tied to demanding performance standards.
Well said on all counts.
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