Compensatory and Punitive Damages
The intent of an award of compensatory damages is to compensate the plaintiff for loss suffered. To re-instate the plaintiff to the position in which they were before they suffered the loss. The intent of an award of punitive damages is to both punish the defendant and to act as a deterrent to others from similar behavior. Employees wrongfully dismissed may seek compensatory and punitive damages.
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