15Five’s Compensation Playbook
The Comprehensive Guide to Developing a Compensation Strategy That Attracts and Retains Top Talent
With social factors such as elevated interest in diversity, equity, inclusion, and belonging, and economic factors such as inflation and an employee-friendly job market, HR and People leaders are facing tremendous pressure to create competitive compensation strategies and programs that retain and attract the people they need.
Plus, money still matters in the age of meaning. People want more than ever from work: community, purpose, growth opportunities, well-being, equity, fairness, career paths, a sense of identity, and compensation. Organizations need technology, processes, and programs supporting each of these human needs.
But taking all of these factors into consideration and creating a compensation strategy that is comprehensive, fair, and competitive is no easy task. That’s why we’ve created this playbook, which will walk you through all of the considerations and questions you will face as you design or improve the compensation strategy at your organization.
- The factors that make up employee compensation
- The key stakeholders in your compensation strategy and decision making process
- Design principles for your compensation strategy and process
- Factors to consider as you update and design your compensation strategy
- Frequently asked questions about compensation strategies and decisions
- A step-by-step checklist to guide you in designing a compensation strategy