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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 The United States Armed Forces are the military forces of the United States. The armed forces consists of six service branches: the Army, Marine Corps, Navy, Air Force, Space Force, and Coast Guard. The president of the United States is th .... External linksAn example open compensation plan for software professionals Employment compensation {{Econ-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pay Scale
__NOTOC__ 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 General Schedule (GS) is the predominant pay scale within the United States civil service. The GS includes the majority of white collar personnel (professional, technical, administrative, and clerical) positions. , 71 percent of federal civil ..., 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 availab ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Turnover (employment)
In human resources, turnover is the act of replacing an employee with a new employee. Partings between organizations and employees may consist of termination, retirement, death, interagency transfers, and resignations.Trip, R. (n.d.). Turnover-State of Oklahoma Website. Retrieved from www.ok.gov: http://www.ok.gov/opm/documents/Employee%20Turnover%20Presentation.ppt An organization’s turnover is measured as a percentage rate, which is referred to as its turnover rate. Turnover rate is the percentage of employees in a workforce that leave during a certain period of time. Organizations and industries as a whole measure their turnover rate during a fiscal or calendar year. If an employer is said to have a high turnover rate relative to its competitors, it means that employees of that company have a shorter average tenure than those of other companies in the same industry. High turnover may be harmful to a company's productivity if skilled workers are often leaving and the worker ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
