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Customizing Compensation for the Aging (?!) Millennials

HR Daily Advisor

For this reason, understanding what motivates them—and how to pay them in comparison to other generations—becomes even more important. With a fixed compensation budget, you need to know how best to direct your dollars where they will give you the most bang for your compensation buck, so to speak. Learn More. Click Here.

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Cafe Classic: Promotable But Unworthy of the Pay

Compensation Cafe

Relative pay bias dominates the compensation field. Compensation professionals will grant a $100,000 salary to an unknown new hire with the requisite credentials and experience who is assumed to have the knowledge, skills and abilities ( KSAs ) to potentially do the job because that applicant’s sparkling resume shows a $90,000 present salary.

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Titles and Pay - External Necessity Vs Internal Parity

Compensation Cafe

While organizational chart rank has a strong correlation with compensation, no one particular internal status relationship precisely matches the outside world. . Parallels exist, but survey comparisons are always imprecise. Every job title tends to describe functional area of competency and level of responsibility.

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Cafe Classic: Prejudice Perpetuated by Prior Pay Pattern

Compensation Cafe

Plus, they create pressure to make hiring offers above the normal entry rate, closer to the central position value, thus potentially creating pay compression with senior peers and inviting other invidious internal equity comparisons when word gets out. Lazy logic argues: why ask for trouble you can easily avoid? and probably will be.

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New Research on Cutting-Edge Performance Management: What Are We Learning?

Compensation Cafe

The Harvard Business Review alone published four articles in 2015 (one in print, three online) on cutting-edge performance management – this from a journal that has published only a few articles on performance management in its entire history. These practices have received tremendous attention from the business press in the past two years.

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Prejudice Perpetuated by Prior Pay Pattern

Compensation Cafe

Plus, they create pressure to make hiring offers above the normal entry rate, closer to the central position value, thus potentially creating pay compression with senior peers and inviting other invidious internal equity comparisons when word gets out. Lazy logic argues: why ask for trouble you can easily avoid? and probably will be.

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Point Factor Job Evaluation Concisely Summarized

Compensation Cafe

Numeric points are accumulated across a number of evaluation factor dimensions with both scalar and interval values and are applied to administer compensation. Without those accommodations, the company would hemorrhage workers and close down for lack of competent personnel.