Remove Bonuses and Incentives Remove Metrics Remove Payscale Remove Retention and Turnover
article thumbnail

What Is Human Resources?

Analytics in HR

It includes reviewing organizational and HR metrics to measure HR initiatives’ effectiveness on business results. Internal mobility helps organizations improve employee engagement and retention while reducing hiring costs. They can sometimes be the primary reason employees choose one company over another.

article thumbnail

Compensation Planning in 7 Actionable Steps

Analytics in HR

Different types of compensation include base pay, company bonuses, stock options, and benefits like insurance, pension programs, and parental leave. Even so, a recent study by Payscale found that less than 50% of companies have a strategic compensation plan. According to Gallup , turnover can also cost an organization 1.5-2

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

10 Employee Incentive Programs to Engage Your Team

Achievers

If so, you probably saw the effects in the form of greater turnover ? low morale can lead to high turnover rates and low productivity, and ultimately, disengagement has a negative impact on your bottom line. Incentives give employees something to strive for and provide tangible acknowledgement of their great work.

article thumbnail

Compensation and Benefits

Analytics in HR

Together, they make up a total compensation package, which may include salary, bonuses, insurance, retirement contributions, and various other perks aimed at attracting, motivating, and retaining employees. Compensation is the money an employee receives in exchange for their labor, which could be a salary, wages, commission, and bonuses.

article thumbnail

Pay transparency: the pros, the cons, and best practices

Workable

A PayScale study finds workers are five times as likely to be satisfied with their employer when they understand the reasoning behind their salary versus getting the compensation they want and need from a job. It’s not just about the pay itself. Workers feel respected when employers are transparent about salary strategy.