We spoke with Dan Walter, CEO of compensation consulting firm Performensation, who urges compensation pros to avoid the path of “Beowulf.”
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If you’re having trouble remembering 10th grade literature, “Beowulf” was an epic poem that some historians claim was orally transmitted for many generations before someone finally wrote it down. Walter says that companies relying on employees to pass down the Tales of Compensation Processes through successive employee generations are risking a lot; it is always advisable to make sure policies and practices are in writing and executed in accordance with the written records.
How can you tell if the way you’re handing compensation practices may be problematic? “If there is a person’s name next to the information source, it’s a bad idea,” Walter explains.
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