Originally published by CU Times.
Originally published on cutimes.com By Peter Myers & Tom Sievewright
Begin by defining your objectives before jumping into evaluating specific plans.
The dynamic nature of top-tier talent and an ongoing evolution of industry practices are pushing more credit unions and their boards to refine their compensation philosophies. Rather than simply allowing long-standing practices, such as paying at the midpoint of each salary range, to dictate an organization’s philosophy, it’s vital for cooperatives to ask why they are paying a specific way and start with their overall strategy in mind when making certain decisions related to compensation.
