Operational excellence

Product/service leadership

Customer intimacy

Brand loyalty

Ask them to review or provide feedback, especially on something you have done for them

Talk to the individuals they report to in advance and gain their support so the stakeholders realize upper management already supports your position

Schedule a meeting of all stakeholders and make a strong case that overcomes all of their objections

Explain in precise terms to each stakeholder how your position is the most realistic approach to the issue or concern

It remains the same.

It decreases because variable costs are increasing.

It increases at the same rate as variable costs.

It becomes increasingly higher as revenues increase.

Ensuring support from all internal and external stakeholders

Estimating results based on historical data

Using statistical methods to predict outcomes

Determining, sourcing and collecting appropriate data

Compiling data needed to calculate salary budgets and merit increases

Identifying trends and key messages emerging over time

Reviewing historical trends to complete annual budgets

Providing quarterly incentive estimates for accruals

The level of formal education in each area

The ability to prioritize which is most critical in any given situation and allocate time and resources accordingly

The ability to tie them together, distill key messages and make impactful decisions

Effective interpersonal and communication skills that can overshadow minor deficiencies in any one area

Because legal compliance with compensation-related regulations is the responsibility of the compensation department

Because the compensation professional has a fiduciary responsibility to ensure that the financial resources of their organization are spent in a prudent manner

Because it is possible to pay significantly less for talent in different countries and compensation should advise management on when and where to locate various jobs within the company

They shouldn’t. Due to the complexities of global regulations and practices, compensation administration outside of the home country should be outsourced.

Because the internal and external environments are constantly changing

Because the best interests of the organization take priority, which can lead to difficult decisions and implementation issues

Because they are emotional issues and stakeholders have many vested interests

Because strong business acumen is required for all compensation decisions