Board of Directors
A body of elected or appointed members who provide oversight and advice to an organization's management. In the advisory role, board members consult with management regarding the strategic and operational direction of the company. In the oversight role, they monitor the organization's performance and control costs. In a public company the board represents the interests of the shareholders. One of the board's most important responsibilities is to design effective compensation packages for the organization's executives.
Planning Compensation Incentives That Maximize Workforce Engagement
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Planning Global Compensation Budgets for 2024 - March Updated
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ERI Economic Research Institute was founded over 30 years ago to provide compensation applications for private and public organizations. ERI Economic Research Institute compiles the most robust salary, cost of living, and executive compensation survey data available, with updated market data for more than 1,100 industry sectors. ERI collects salary survey data from internal surveys, third-party salary surveys, and public sources to calculate geographic salary differentials and assist with compensation planning.
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Common Compensation Terms and Formulas
- Includes the latest updates: Compensable factors, defined benefit plan, job leveling, lead differential, shift differential and more.
- Salary structure formulas and strategies