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Several definitions: 1) An amount that is added to a base salary to pay additional monies for situations such as graveyard shift, working weekends, or working away from home, 2) In an international situation the definition relates to an incentive that is paid to an expatriate, 3) One payment or a sequence of payments made for an individual or for a group to continue the insurance policy that is in force.
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