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In its simplest form, a compensation philosophy summarizes an organization’s guiding principles around employee salaries and benefits. Some companies do this exceptionally well, and you’ll find 14 of the best compensation philosophy examples below.
A good compensation philosophy reflects a company’s culture, strategy, and human capital needs. It also provides a framework for setting competitive pay standards, defining the roles of various compensation elements, and aligning these with the company’s values and objectives. However, organizations that do not have compensation policies in place or are not transparent about how they pay employees can quickly lose trust (and talent). According to a