BCjobs Blog

An organization needs talented and skilled individuals to build a successful business. Because these talented people are highly sought after, an attractive pay structure is often the key to bringing the best candidates on board. Studies have shown that a fair compensation system is among one of the most effective ways in retaining and motivating employees.

Employee referral bonus programs have always been a favored recruitment strategy for many organizations. Each referral bonus program is designed differently from company to company but essentially it is a program where a reward is offered to employees who bring in qualified people for the company.

Even in the current economy, certain skill sets remain difficult to find, according to the 2009 Salary Guides from Robert Half International. The recently released guides point to modest overall salary increases for accounting, information technology (IT) and administrative roles, but highlight specialized expertise that can enhance a professional’s marketability.

Every employment relationship is governed by an employment contract, whether written or unwritten. Letters of Offer identify employer and employee obligations and rights; as such, they’re important documents for limiting an employer’s liability. In practice, these letters are referred to only if an issue arises affecting the employment relationship.

A pay philosophy is a company’s commitment to how it values employees. A consistent pay philosophy gives the company and the employee a frame of reference when discussing salary in a negotiation.

Compensation refers to all forms of pay and rewards received by employees for the performance in their jobs including all forms of cash, benefits, services, and perks. It is important to recognize and communicate your “total” compensation as “all” the pay you are providing your employees.