Why Your Compensation Management is Failing to Attract and Retain

ClearCompany HRM

Compensation – it is so tightly connected with performance management, attraction and retention. Ventana research revealed the top goals for compensation management among the companies they studied are to better align the workforce to strategy and goals while improving efficiency. Employee Retention Talent Attraction Compensation Talent Lifecylce Compensation Management Yet, all of these processes are incredibly disjointed.

A Clear View of the Talent Lifecycle: Compensation [Part 5]

ClearCompany HRM

The average time-to-hire is at a 5 year high, and the skill gap is widening; employers are having a harder time than ever managing the balancing act that is compensation. With 52% of employers ranking hiring and retaining talent at the top of their business challenges, it is vital to get compensation right. Talent Lifecycle Compensation

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13 Talent Attraction Stats for the Perfect Company Pitch

ClearCompany HRM

Company Culture Employer Branding Talent Attraction Mobile Recruiting Talent Lifecycle Compensation Recruiting, the first step of the talent lifecycle is insanely crucial to nail. Quality talent attraction is a growing concern for employers. In fact, a recent study revealed that 39% of employers have jobs that stay open for four months or longer due to the inability to find people with appropriate skills.

Sunday Reading: Compensation, Community, and Exit Strategies

Something Different

Tony Bergmann-Porter , Principal and Owner of Compensation Consulting firm Yale Associates LLC, has a great post up on Compensation Cafe wherein he postulates about the future of total rewards in the U.S. <www.accu-chek.com.my> Sunday reading for 11.16.2014. He has some bold ideas, including a hypothesis that pay in the private sector will flatten over time, resembling the federal government’s GS schedule.

Employees Need to Own Their Success

HR Bartender

The way to achieve that is by hiring great people, giving them the right tools, offering good benefits and competitive compensation, rewarding and recognizing excellent work, and providing them with future opportunities. During the HR Technology Conference , I was chatting with someone about job titles. She had heard the most interesting title – Vice President of Employee Success. It didn’t sit well with me then and the more I think about it…it still doesn’t.

A Report Card on my HR Predictions for 2014

OmegaHR Solutions

This time last year I made the following predictions on what would happen in HR compliance in 2014. The year 2014 is a midterm election year. But not in 2014. There will continue to be legislation introduced into Congress that strives to limit executive compensation. Unlike the minimum wage, if the Republicans win the Senate, there will be no traction beyond 2014 either. I think 2014 will be an active year. How good were my grades?

Compensation Cafe: Give Your Employees the Benefit of Space

RecognizeThis!

Today on Compensation Cafe I wrote about the mostly negative impact of open offices and how they actually detract from stated goals of increased collaboration, discussion and innovation. Employee Engagement compensation cafe office space open office by Derek Irvine. Recognize This! – We spend more time at work than anywhere else (while awake). The space we work in can be a key contributor to engagement, enablement, and productivity. Does your office have an open office plan?

Compensation Cafe: Promotions, Bonuses, Raises, Recognition – When They Work (and When They Don’t)

RecognizeThis!

My post this week on Compensation Cafe was triggered by it being “the season of giving.” Bonus & Incentives Social Recognition bonuses compensation cafe promotions raises recognition and reward Recognize This! - You can’t give all employees promotions, bonuses, or raises. They become an expectation and it’s a very poor use of budget. Social recognition, however, can be applied to all.

Why Clean Data is the Best Data

Cornerstone On Demand

Next I went into banking, and while "records" were not part of my responsibility, I relied on the data for my compensation analysis. Today, organizations not only have an HRIS, but many also have add-on human capital management systems which provide applicant tracking, learning management, compensation planning and other specialty modules. As an example, the compensation department “owns” job codes. In today's HR landscape, data is having a moment.

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Compensation Cafe: 2 Things to Get the Most Out of Employee Recognition Programs

RecognizeThis!

Check out my post today on Compensation Cafe for a deeper dive into a September 2014 report from Aberdeen, “Next-Level Employee Recognition.”. by Derek Irvine. Recognize This! – Measurable, peer-to-peer recognition set apart average employee recognition efforts from Best-in-Class programs. Results are obvious to the bottom line. The report highlights two key features of best-in-class employee recognition programs.

The Beowulf of Compensation

Compensation Cafe

No compensation plan, philosophy or process is interesting enough to be carried down through 10 years of oral history, much less 1,000 years. But, a seemingly large number of companies are crippled by processes, plan details and compensation philosophies that depend on a tradition of oral history. We state our goal is to motivate people using equity compensation, but we really only grant to the top people right now.” Being a compensation professional is difficult.

How the City of Denver Hires Superstar Tech Talent

Cornerstone On Demand

To stay competitive and attract top talent, smart public sector hiring teams are focused on fulfilling employee needs beyond compensation and benefits — emphasizing personal satisfaction and accomplishment in the recruitment process. Broadly speaking, global satisfaction among public sector employees in 2014 is at 59 percent, according to the Federal Employee Viewpoint Survey Results conducted by the U.S.

The Complexity of Globalizing Compensation

Compensation Cafe

It is becoming popular to globalize compensation/benefits plans that, back in the old days, would have remained completely local. The reason is to ensure companies have a globally aligned and integrated compensation/benefits strategy and to prevent duplication of effort. It is as though Corporate Compensation/Benefits looks at each plan it has in the U.S. (or Ripple effects: “Total compensation” includes base pay, bonuses and often the value of some fringe benefits.

Tips for Preventing Fraud in Workers’ Compensation Claims

HR Daily Advisor

Most employers understand the benefits of workers’ compensation insurance. In the past, these suits were the only way for an employee to get bills covered, so they were much more common—workers’ compensation is in place to reduce this issue.). But even with all these benefits of a workers’ compensation program, there can still be drawbacks. Types of Workers’ Compensation Fraud. Fraudulent activity can occur at all stages of a workers’ compensation claim.

The Gift Cardification of Equity Compensation

Compensation Cafe

This time every time your read “gift card” replace that term with the type(s) of equity compensation offered by your company. As they say: ’Tis the season” to understand the impact of your compensation programs. 4 Things You Can Do to Avoid the “Gift Cardification” of Your Equity Compensation. First, treat your equity compensation in way that shows you understand the recipient. Don’t assume that your equity compensation will be perceived as valuable.

Weekly Must-Reads: Citi Trades Desks for Workplace "Neighborhoods"

Cornerstone On Demand

” There’s one for compensation and another for learning and development, for example. The top stories HR pros need to know this week. From assigned desks to flexible neighborhood. Just as leaders in the young adult fiction series Divergent broke their society into five “factions,” Citi’s managing director and COO of HR split the company’s office into “neighborhoods.”

What Do Employees Want Most? Appreciation and Good Relationships at Work

RecognizeThis!

But one particular finding struck me as most enlightening – regardless of desire to relocate, all respondents “are putting more emphasis on intrinsic rewards and less on compensation.”. Indeed, the top two key findings of our most recent Fall 2014 Workforce Mood Tracker report found that (1) peer relationships are critical to the modern work experience because of amount of time we invest at work, and (2) having friends at increases commitment to the company. Recognize This!

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Money for Motivation: How Incentive Based Pay Works

UpstartHR

Last week I was talking with some folks about using compensation to drive employee behavior, and it occurred to me that I have never shared anything about that topic here. Even small companies ( I’m looking at you, Mr/Ms HR Manager of a company with less than 250 employees ) can incorporate these elements into their compensation planning without too much stress. When it comes to compensation we have two basic elements: base pay and variable pay. Deferred compensation.

Compensation Reigns as the King of Job Satisfaction

Reviewsnap

The report flies in the face of a body of research that claims compensation isn’t a significant contributor to job satisfaction. SHRM says that 60 percent of surveyed employees rated compensation/pay as “very important,” while another 36 percent rated it “important.” Just two years ago, compensation was ranked third among contributors to job satisfaction, eclipsed by job security and opportunities to use skills/abilities.

HR’s Guide to Compensation Communications

GuideSpark

Helping your employees navigate through their compensation confusion creates a win-win for your company and employees! Are your employees keyed in on the finer points of your company’s employee compensation program? More than half (53%) of respondents in Payscale.com’s 2014 compensation survey felt their organization does not offer manager training to teach them how to talk to employees about compensation. Who should deliver the compensation communications?

One Way to Revive Tired Old Compensation

Compensation Cafe

I’ve been reading a lot lately about what Compensation will look like in the future and I remembered a project that I had once worked on. Yes, some companies offered flex benefits but this situation included cash compensation as well. What if they handed over control to employees to configure the amount of their own benefits, perks, and cash compensation creating a package unique to their own personal situations. Compensation needs to be too.

The Pros and Cons of Tying Compensation to Performance Reviews

Reviewsnap

At Reviewsnap, we''ve seen firsthand the benefits delivered by a pay-for-performance structure that closely ties compensation to the performance review process. Like most human capital challenges, tying compensation to performance reviews has its share of pros and cons. By tying reviews to compensation, performance clearly becomes the determining factor in compensation. Compensation can overshadow the importance of reviews.—When

Trust in Leadership Affects Employee Retention #EWS2014

The People Equation

I’m a sponsored blog partner with Spherion (a staffing and recruiting organization) and am participating in the release of findings from Spherion’s 2014 Emerging Workforce Study. This is the final in a series on Spherion’s research project, the Emerging Workforce Study 2014. As part of this program, I received compensation for my time.

2014’s Top 10 Posts

HRExecutive

Below are links to the top 10 most-read posts of 2014, according to Google Analytics. The post 2014’s Top 10 Posts appeared first on HRE's The Leader Board. ADA background checks compensation employee policies HR leadership HR profession legal issues legislative talent management

Inclined to Collaborate? You Should Be

All Things Workplace

A high IQ doesn''t compensate for low EQ. "Collaboration is a key driver of overall performance of companies around the world. Its impact is twice as significant as a company’s aggressiveness in pursuing new market opportunities (strategic orientation) and five times as significant as the external market environment (market turbulence).". As a general rule, global companies that collaborate better, perform better. Those that collaborate less, do not perform as well.

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Comparable Worth Article the Top Viewed for 2014?

Compensation Force

According to WorldatWork''s Alison Avalos, who puts out a regular column called "What Your Colleagues Are Reading" , the 2010 workspan piece on Comparable Worth written by me, Paul Weatherhead and my Compensation Cafe cohort Jim Brennan is the top viewed article for 2014, so far. Is gender equity suddenly that big a topic among compensation professionals?

Everything You Do in Compensation is Communication: 3/8 of the Compensation Cafe Publishes a Book!

Compensation Force

About three years ago, a trio of cheeky compensation bloggers joined forces around an idea. The insight that started it all - that everything (and we mean everything ) we do in compensation is, in fact, communication. The reality is that we are sending messages -- inadvertently and often unintentionally -- with every step of the compensation design, implementation and management process.

Human Resources Today – Resources for the People Side of Business

The People Equation

Disclosure: I receive no compensation for writing about or participating in Human Resources Today. A new site just launched called Human Resources Today. Human Resources Today curates content from many sources on the web regarding the people side of HR: employee engagement, leadership, corporate culture, employee retention and workplace communication.

Social Engagement Tools Empower Compensation Managers to Interactively Engage Employees

Peoplefluent

Thursday, June 5, 2014 :00am. Social Engagement Tools Empower Compensation Managers to Interactively Engage Employees By Joe Sansone. Lets face it: compensation management is not exactly the sexiest of topics these days within most organizations. For many, the very thought of compensation management tends to provoke images of bean counters working tirelessly on their calculators, noodling every nickel and dime.

Succession Planning Success: The Golden Rules for Future-Proofing Your Business

Visier

Also, look at compensation data: this is important, particularly in organizations where only so many people can get promoted to a certain level. If it’s not possible for management to promote somebody to a level, they may get recognized through compensation instead — so change in pay can be an indicator of higher performance. Succession planning is about managing the risk associated with any type of critical skills gap.

SuccessFactors Q1 2014 Release: Compensation, Short Retrospective, Tips & Tricks, and the Road Ahead

SuccessFactors

It is this time of the year again, and I’d like to share some information with you on SuccessFactors Compensation Management in 1402 as well as the broader solution evolution. Compensation HCM hr HRIZONS SuccessFactors SuccessFactors Compensation Management Talent Management By Yannick Peterschmitt, Director, HCM Solutions at SAP Hi everyone!

HR: Stewards of Compensation?

HRExecutive

Forbes contributor Robin Ferracone just posted this morning an interesting Q&A she conducted last month with Jerry McGrath, DHR International’s global HR practices leader, on the topic of HR’s role in determining executive compensation. She then offers five areas HR executives can focus on “to become the stewards of compensation” at their organizations: 1. Linking Talent to Strategy: Compensation has largely been a backward-looking exercise.

Sunday Reading: Business Etiquette, Work Valuation, and Dual Career Ladders

Something Different

Burt Helm over at Inc recently wrote a detailed profile piece spotlighting a man named Gabriel Bristol that went from being homeless to becoming the CEO of a call center with over 300 employee that will generate over $11 million dollars in revenues in 2014. Jacque Vilet writes about a challenge many organizations face when trying to reward their strongest individual contributors in a rock solid piece on Compensation Cafe here.

Why Should You Want to Work There?

All Things Workplace

But benefits and compensation were, perhaps surprisingly, toward the bottom of the list. An international survey of more than 500 HR executives by global talent management firm Bernard Hodes (now part of Findly ) has found that the quality or reputation of products and services, the corporate culture and the work environment are a business''s most important attributes when it comes to bringing talent on board. Ethical reputation also scored highly.

The 2020 Workforce: Misconceptions Between Management and Employees

China Gorman

employees is competitive compensation (84%) followed by retirement plans (75%), and vacation time (62%). 39% of employees say higher compensation would increase loyalty and engagement with their current job. Oxford Economics and SAP recently released the report “ Workforce 2020: The Looming Talent Crisis ” aimed at understanding the opportunities and challenges of the evolving workforce.

Nonessential Work Does Not Require Compensation

Compensation Cafe

Circuit Court of Appeals, which had found that the screenings were an integral part of the warehousing job done for the benefit of the employer and should be compensated. The Supreme Court Justices ruled to the contrary, that the screening process is not a "principal activity" of the workers'' jobs under the Fair Labor Standards Act and therefore is not subject to compensation. Base Salaries Compensation Communication Job Evaluation Total Rewards

Health Care HR Week 2014: Extending a Note of Gratitude

Cielo HR Leader

Whether service involves patient wellness, managing and engaging the workforce, compensation and benefits, or hiring clinical staff, dedication is an unending demand. March 16 – 22, 2014, has been deemed Health Care HR Week , and we at Cielo would like to extend our gratitude for your continuous, often sleepless efforts. To all HR professionals who serve in the healthcare industry, Healthcare never sleeps.