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The Manager’s Guide to Rewards: What You Need to Know to Get the Best for—and from—Your Employees by Mel Stark - Hay Group, Tom McMullen, Doug Jensen

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Chapter 6. Putting a Price Tag on Work

A KEY PLANK of an organization’s rewards platform is to pay the right people the right amount for doing the right things. This chapter covers the middle part of this phrase—paying the right amount—and explains how organizations determine the value of their employees’ work. It provides an understanding of common work-valuing processes in use today, offers a recommended approach, and details the manager’s key role in this process.

The Value of Work

Managers are accountable to both the organization and their employees in determining the value of work and in providing fair compensation in return for the work. In order to offer employees pay that is competitive with other companies’ and appropriate for the duties ...

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