Congress granted financial regulators flexibility to establish
their own compensation systems and required certain agencies to
seek to maintain comparability with each other in pay and benefits
to help the agencies overcome impediments to recruiting and
retaining employees and avoid competing for the same employees. In
response to a request, this book reviews (1) how the
performance-based pay systems of 10 financial regulators are
aligned with six key practices for effective performance management
systems, (2) the actions these agencies have taken to assess and
implement comparability in pay and benefits, and (3) the extent to
which employees in selected occupations have moved between or left
any of the agencies. The author analysed agency guidance and
policies, agency data on performance ratings and pay increases,
agency pay and benefits surveys, data from the Central Personnel
Data File, and interviewed agency officials. This is an excerpted
and edited edition.
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