Explain the value of compensation and benefits over time (John Deere)

So that its counselors appreciate fully the total worth of their employment, the law department of John Deere explains what their salary and benefit potential could be over time with the company. This innovative practice is described only briefly in “Leading Practices in Job Titles for In-House Lawyers: What Companies are Doing” (Assoc. Corp. Counsel, Aug. 2005 at 14), but it makes sense.

Answer the questions everyone in the law department has about money, and do so before they muster up the courage to ask (See my post of July 24, 2005 about disclosure of compensation ranges, Nov. 24, 2005 on publishing bonus determinants, and Feb. 19, 2006 about some downsides of bonuses.). Spell out the situation regarding options, matching grants to 401Ks, tuition reimbursement, and all other aspects of compensation. Money may not buy happiness, but it certainly spawns rumors and speculation.

We welcome comments

Your email address will not be published. Required fields are marked *