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Strategic Compensation Mind Map, Strategic Compensation, Tools - Coggle…

- - - - Retain high performers
    - - Financial and non-financial motivation
    - - Attract qualified candidates
  - - - Base Pay
        
        Hourly wage
        
        Annual salary
      - Incentive pay
        
        Bonus
        
        Commision
        
        Profit shares
        
        Stock options
    - - Core Compensation Adjustments
        
        🛒 + 💰COLA
        
        📈 Seniority pay
        
        Merit pay
        
        Incentive pay
        
        🧠 Skill-based pay
        
        Person-focused pay
      - Discretionary Benefits
        
        Paid time off
        
        Health insurance
        
        Retirement plans
        
        Life insurance
        
        Flexible schedules
      - Legally Required Benefits
        
        Workers’ compensation
        
        Unemployment insurance
        
        Social security
        
        Family and medical leave
      - Compensable Factors
        
        Effort
        
        Responsibility
        
        🏢 Working Conditions
        
        🛠️Skill
- - - - Capital
      - Human Resources
      - Technology
- - - - Reason
        
        Employee loyalty
        
        Reduce turnover
        
        Retain strong performers
        
        Experience adds value
    - - Common In
        
        Government sector & Public Institutions
    - - Porpuse
        
        Reward excellence
        
        Motivate future performance
        
        Retain valuable employees
      - Elements of Merit Pay
        
        Periodic reviews
        
        Realistic targets
        
        Performance indicators: Objective + Subjective
        
        Performance-linked raises