Compensation And Benefits Goals of Compensation Programs -attract and retain competent and talented individuals positively impact organization's strategic performance adapt to changing nature of work and the workplace Skill-Based Pay -rewards employees for their job skills and competencies job title doesn't define pay category mesh nicely with the changing nature of jobs Trends in Compensation make pay systems more flexible reduce the number of pay levels ©Prentice Hall,2002 12-30 Compensation And Benefits Goals of Compensation Programs – attract and retain competent and talented individuals – positively impact organization’s strategic performance – adapt to changing nature of work and the workplace Skill-Based Pay – rewards employees for their job skills and competencies – job title doesn’t define pay category – mesh nicely with the changing nature of jobs Trends in Compensation – make pay systems more flexible – reduce the number of pay levels © Prentice Hall, 2002 12-30