In all of the HR practice areas, in my opinion, compensation is the cornerstone of the HR function. Not only does it carry through the HR organization, but it also carries through the HR technology framework.
When I talk about compensation, most of what I’m thinking about is job design (job analysis, job evaluation, whatever…). I think about job design and the components thereof, and we have the original benchmarking of job duties, required competencies, necessary skills and education, and obviously pay. So compensation is really the starting point (at the job level) to begin the talent management process and many other HR practices will use this data as a lunching pad for their own processes.
Additionally, compensation practitioners are often involved in the creation of career progression systems (ladders, paths, whatever…) that uniquely are a combination of learning, succession, and workforce development.
The systems side is even cooler. Rather than writing it all down, I’m just going to draw one of my pictures.
One response to “Why I Love Compensation”
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