Success Kit - Compensation
Compensation typically refers to the base and variable pay components of a company’s total rewards strategy. Compensation, along with benefits, comprise the majority of the total rewards offered to employees in exchange for work contributions. Why is compensation important? First, compensation is likely to be the largest expense line item in an organizational budget. Secondly, compensation planning is a key strategy used in attracting, rewarding and retaining top talent. Finally, a dramatic increase in litigation with high dollar rewards and damages underscores the need to pay attention to your organization’s pay practices.
List of Included Documents & Tools
Compliance & Best Practices - 1099 vs. W2 Checklist
- Aligning Compensation to Market Values
- Are Your Compensation & Incentives Marketable – A Checklist
- Compensation Audit – Basic Compliance
- Compensation Audit – Best Practices
- Guidelines for FLSA Exemption
- Key Laws & Regulations
- Overtime Pay Requirements of the FLSA
- Overtime Policy – Samples
- Pay Practices for Nonexempt and Exempt Employees – FAQ
- Record Retention Summary
- Recordkeeping Requirements of the FLSA
- What you Need to Know About FLSA
| General - Annual Total Compensation Summary Statement
- Compa-Ratio Chart
- Pay Policy – Samples
- Retention Bonus Letters
- Shift Differential & Call-In Pay
Variable Compensation - Annual Management Incentive Plans
- Bonus Plan Acceptance Form
- Bonus Plan – Administrative Guidelines
- Bonus Plan – Helpful Tips
- Bonus Plan – Terms & Conditions
- Plan Design – Variable Pay
- Sales Compensation Plan – Administrative Guidelines
- Sales Incentive Plan – Sample
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Related Success Kits
TMS Success Kit – Building Sales Teams
TMS Success Kit – Compliance & Reporting
TMS Success Kit – Employee Engagement
TMS Success Kit – Payroll
TMS Success Kit – Performance Management
TMS Success Kit – Policy & Procedures
TMS Success Kit – Rewards & Recognition
Additional Resources
TMS Success Kits are information hubs within TMS Online that allow you to find all relevant documents in one convenient location. All documents and tools listed above are included with a TMS Online membership. The documents and tools can also be sold separately or in tool bundles.
For more information on TMS Success Kits or TMS Online membership, please contact us.
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