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Open Compensation Plan
An open compensation plan (or system or policy) is one with a defined pay scale and no rules about keeping employee pay confidential. Open compensation plans are noted for reducing employee turnover. One example of an organization with an open compensation system is the U.S. military. External linksAn example open compensation plan for software professionals Employment compensation {{Econ-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pay Scale
A pay scale (also known as a salary structure) is a system that determines how much an employee is to be paid as a wage or salary, based on one or more factors such as the employee's level, rank or status within the employer's organization, the length of time that the employee has been employed, and the difficulty of the specific work performed. Examples of pay scales include U.S. uniformed services pay grades, the salary grades by which United States military personnel are paid, and the General Schedule, the salary grades by which United States white-collar civil service personnel are paid. Private employers use salary structures with grades (including minimums, midpoints and maximums) to define the ranges of pay available to employees in each grade/range. Basic Pay Scale (BPS) The term Basic Pay Scale (BPS) is used in Pakistan's government departments and public sector organizations to refer to the pay scale or grade of an official or incumbent. See also *Open compensation plan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Turnover (employment)
In human resources, turnover refers to the employees who leave an organization. The ''turnover rate'' is the percentage of the total workforce that leave over a given period. Organizations and industries typically measure turnover for a fiscal or calendar year. Reasons for leaving include termination (that is, involuntary turnover), retirement, death, transfers to other sections of the organization, and resignations.Trip, R. (n.d.). Turnover – State of Oklahoma Website. Retrieved from http://www.ok.gov/opm/documents/Employee%20Turnover%20Presentation.ppt External factors—such as financial pressures, work-family balance, or economic crises—may also contribute. Turnover rates may vary over time and across industries. If an employer has a higher turnover rate than its competitors, employees there generally have shorter average tenure than those in other companies within the same industry. High turnover can be particularly harmful to a company's productivity when skilled ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
