Remove 2015 Remove Compensation Remove Competencies Remove Metrics

Executive Compensation 101: What to Consider

HR Daily Advisor

How do you decide the appropriate level of compensation? How do you align executive compensation goals with the overall company compensation philosophy? Creating an appropriate executive compensation package is vital to getting and keeping the best-suited executives for your organization. As with any role in the business, the compensation package should be tailored not only to the skills required but also to organizational needs. Other metrics?).

Four Questions Strategic HR Pros Ask to Drive a Culture of Ethics in Financial Services

Visier

How to Link Workforce Metrics With Business Outcomes, Part Four. But with Big Data, culture can also be measurable, and boiled down into actionable insights so that it permeates everything from hiring and training to compensation practices. Asking this question will yield a metric that reveals how many employees had more than one direct supervisor in the previous year, as a percentage of headcount. Workforce Intelligence 101 compensation culture HR leadership advice

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PayScale Tools for Today's Comp Pro! Compensation Glossary: Part 1 of 4

Compensation Today

Jenni Marquez, CCP, PayScale Compensation Professional Even the most seasoned HR professional might take a big gulp if approached by their CEO to take charge of anything comp. That’s because, despite being part of the HR department, compensation is like the cool kid at a party. We’ve compiled a list of fundamental compensation terms and why they’re important to know. 3) PAY POLICIES Definition: Statements on how you intend to administer the compensation plan.

The HR Leadership Revolution — Will You Thrive?

Visier

A February 2015 study — conducted by Harris Poll on behalf of Visier — surveyed 301 corporate executives at companies with revenue of $1 billion or more across America and asked about sought-after HR leadership skills. Informed business executives know that talent has the upper hand in today’s market (hiring, new job creation, and voluntary turnover are all at 5-year highs, according to the BLS Job Openings and Labor Turnover Survey released in February 2015).

CHRO 316

The HR Leadership Revolution — Will You Thrive?

Visier

A February 2015 study — conducted by Harris Poll on behalf of Visier — surveyed 301 corporate executives at companies with revenue of $1 billion or more across America and asked about sought-after HR leadership skills. Informed business executives know that talent has the upper hand in today’s market (hiring, new job creation, and voluntary turnover are all at 5-year highs, according to the BLS Job Openings and Labor Turnover Survey released in February 2015).

CHRO 150

10 Rules for Employee Retention Your Competition Will Hate

Insperity

These metrics will help you give your employees clear direction and ensure their work stays on track. Consider productivity-based metrics that focus on your employees’ ability to meet deadlines. Take advantage of job websites such as Glassdoor or LinkedIn to find out how your competition stacks up when it comes to compensation, benefits and culture. Compensate. Non-compete agreements. No one said break-ups were easy.

Organizations Have Needs, Too—A Hierarchy for HR Professionals

HR Daily Advisor

Esteem is the need to be competent and to achieve. Am I competing effectively, rather than simply competing to survive? Basic metrics and reporting, budgets, compensation plans, performance review tools, and communication systems are all examples of organizational infrastructure. It may be very true that a business is in desperate need of a compensation plan. By Amanda C. Richards, MS, MA.

‘Try Harder’ Is Not a Recruiting Strategy

HR Daily Advisor

Start on Tuesday, June 23, 2015, with a new interactive webinar, Get Linked! Competing projects (availability). Join us Tuesday, June 23, 2015, for a new interactive webinar, Get Linked! Vlastelica’s tip: Don’t use number of résumés received as a metric. Compensation business hiring Key Inputs Recruiting StrategyToo many recruiters respond to challenges with “OK, I’ll try harder.”

Workplace Wellness Programs: Are They Really Worth the Investment?

Insperity

Having a program can help you compete for talent, encourage healthy choices and stimulate peer interaction. And, focusing on creating and maintaining a healthy and happy culture may offset a limited benefits and compensation package. For example, if you were to host a masseuse at a wellness fair, and an employee got injured, it could result in a workers’ compensation claim. What’s in it for companies that devote time and money into health management programs?

10 Rules for Employee Retention Your Competition will Hate

Insperity

These metrics will help you give your employees clear direction and ensure their work stays on track. Consider productivity-based metrics that focus on your employees’ ability to meet deadlines. Take advantage of job websites such as Glassdoor or LinkedIn to find out how your competition stacks up when it comes to compensation, benefits and culture. Compensate. Non-compete agreements. No one said break-ups were easy.

How Scarcity and Attrition Might Ruin Recruitment Planning

HR Daily Advisor

To successfully meet demands in this area, you need to partner early; otherwise, there will be an impossible plan that demands nearly immediate hiring of scarce applicants without adequate compensation. Recruiting is a challenge for 2015. Learn what’s happening in the real world with our new research report, Recruiting Best Practices: Finding and Attracting Talent in 2015’s Challenging Business Climate. Shifting skills/competencies?

HR Tech Trends to Watch in 2016

HRExecutive

These include competencies on-hand—e.g., Great news, but not a panacea, as the lack of analytics-related competencies (e.g., “Nobody comes here anymore, it’s too crowded” is one of dozens of quotes from the former New York Yankees all-star catcher Yogi Berra who passed away earlier this year at age 90. The shelf-life and trendiness of many Yogi-isms will sustain due to their classically oxymoronic and clever nature.

Carnival of HR: Getting Ahead With Strategic HR

GuideSpark

From there, Linda Brenner hops aboard with a deep dive into the only metric that matters because, well, you’re only as good as the people you hire. This piece offers three ways to spot high potential talent, support career development, nurture leadership competencies and improve succession planning. Take a look at the latest articles on how HR can take a more strategic role.

Prepare Your Questions For #HRTechWorld and #HRTechConf

In Full Bloom HR

For 2015, I’ve done a thorough update and added more of my own thoughts on the answers to these questions. This is one of the central questions addressed in any competent strategic HRM and HRMDS planning effort. Why can’t our payroll provider (yes, we outsourced that years ago) support the variety of workers, work roles, work schedules, total compensation plans, and other practices that we’re now using or need to use?

Maximums Are Less Important Than Minimums

Compensation Cafe

When bosses want to grant more money than the compensation policy allows, they can usually find an easy way around the max limit. . I intensely dislike “maximums” because they relegate the compensation professionals into becoming feckless comp cops enforcing capricious nonsensical rules. In general, the pay budget usually belongs to the department head, not to the compensation guardian, and line executives really will get whatever they want if operations truly do require it.

HR Must Modernize to Meet New Employee Demands

Oracle HCM - Modern HR in the Cloud

The talented, high achievers on whom companies depend on to compete and win now expect any information they need to be instantly available, whenever and wherever they need it, from any device. For example, if you’re adjusting compensation models, you want to look at turnover, financial performance, and compare them to the cost of living where you’re recruiting. All of those things come together when analyzing a compensation plan. By Rick O'Herron.

Ten Ways to Better Manage Performance

FlashPoint

To get at the heart this, consider these 10 ways to improve your performance management process for 2015. Link performance management to projects and goals that support the strategic plan and/or to competencies (skills and behaviors) deemed critical to the success of the organization. Employees may provide vital project or competency achievement examples unknown to the manager, and this insight can be helpful as the manager prepares for the review.

A Few Lessons from a Few HR-Related Fiascos

HRExecutive

In all fairness and full disclosure, Sturt’s and Nordstrom’s first lesson isn’t really a fiasco unleashed by human resource professionals, but it does speak to HR’s compensation oversight and what can go very wrong with a good idea. Sturt and Nordstrom write: “As one disgruntled ex-employee of the company told the New York Times , it isn’t exactly fair for top performers to be compensated the same as slackers.

Why Are We Afraid To Measure The Value Of Employees?

SAP Innovation

The trouble is, the only way HR can demonstrate its relevance is by speaking the language of the business, which revolves around metrics. We need more work that links different HR metrics together so the rating helps predict the future ability to achieve business goals.”. Companies already rely on indirect metrics to some degree during the hiring process, using interview questions to score a candidate’s predicted performance, ultimately measuring their suitability as an employee.

A Smooth Sea.

Compensation Cafe

Set up metric milestones : Set up a series of base line statistics that describe current elements of your reward programs. I''ve seen compensation practitioners push hard to inject new policies, procedures and even cultural initiatives where they simply would not work. Chuck Csizmar CCP is founder and Principal of CMC Compensation Group, providing global compensation consulting services to a wide variety of industries and non-profit organizations. Competencies

Reduce Gender Bias Using Data-Driven Performance Reviews

Visier

Countless studies have shown the equal economic contribution women make in the workforce, yet companies still struggle to achieve the goal of equity, particularly in the areas that affect women’s upward movement the most: promotions and compensation. In 2015, 90% of new CEOs in the S&P 500 were promoted or hired from line roles — and 100% of these executives were men.

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Defending Pay-For-Performance with The Performance Review

Reviewsnap

When pay-for-performance is the policy, there is one standard for everyone and it is based on metrics for the job the employee has. To work properly, managers must measure performance accurately, and as objectively as possible using metrics. P4P Helps Make Administration of Raises Easier – When compensation and performance are linked employers often discover that it makes the integration of pay increase data into their payroll systems easier.

Defending Pay-For-Performance with The Performance Review

Reviewsnap

When pay-for-performance is the policy, there is one standard for everyone and it is based on metrics for the job the employee has. To work properly, managers must measure performance accurately, and as objectively as possible using metrics. P4P Helps Make Administration of Raises Easier – When compensation and performance are linked employers often discover that it makes the integration of pay increase data into their payroll systems easier.

15 HR Analytics Case Studies with Business Impact

Analytics in HR

On March 13 2015, the Wall Street Journal published an article titled: “The Algorithm That Tells the Boss Who Might Quit”. In an article titled Competing on Talent Analytics , the authors describe their research in multiple large companies in the US. Nielsen created a similar predictive model back in 2015. Business performance would increase if these three metrics would go up. Compensation and benefits at Clarks.

Be careful! These books can change your career: People Analytics and HR-Tech reading list

Littal Shemer

The book covers the full People Analytics scope (Benefits, Compensation, Culture, Diversity & Inclusion, Engagement, Leadership, Learning & Development, Personality Traits, Performance Management, Recruitment, Sales Incentives) with numerous real-world examples, and shows how R can help”. HR is most powerful when it plays a strategic role, makes use of information technology, and has tangible metrics and analytics. Predictive HR Analytics: Mastering the HR Metric.

Changemaker spotlight: Dr. Wald at USAA knows well-being can drive business results

Limeade

Dr. Wald knew they needed a compelling experience with immersive technology for their employees, which is why USAA partnered with Limeade in 2015. Departments compete to win the Enterprise Wellness Award and a large, “obnoxious” trophy — and it’s created quite the buzz. We can’t prove causation, but we can show a strong relationship between Healthy Points and business metrics.” Every day at 5 a.m.,

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. Almost all companies continue to use older practices such as pay for performance at the individual level, cascaded goals and assessment of goal achievement, competency assessment as the basis for assessment, calibration of assessments, and so on.

Improve Employee Scheduling to Fast Track Business Recovery: The Comprehensive Guide

SwipeClock

Flexible Schedules: An Employee Perk That Helps Businesses Compete. Flexible Schedules: An Employee Perk That Helps Small Businesses Compete. A key advantage is helping small businesses compete with larger companies. Now you enter business metrics. Enter sales to employee ratios and other contrasting metrics. When trying to compete with a shrinking pool of candidates, you can only raise wages so far and remain profitable. Updated May 25, 2020.

Hiring the Wrong Salesperson is a $2-Million Mistake

HR Daily Advisor

Looking to build and perfect that 2015 comp plan? complete guide to compensation plans, Bring Back the Sizzle: PayScale’s Guide to Comp Plans That Get Workers Fired Up (In a Good Way). Wrong metrics and goals : For example, valuing cost per hire vs. quality of talent and timeliness of hires. A lot of companies that used to use search firms have taken that role in-house, but they just don’t have the competencies and skills to do it well.

4 Mistakes Most Employers Make That Hurt Employer Branding

Aberdeen HCM Essentials

And that plays a big role when you’re competing for passionate candidates. Let’s take a look at how your current hiring process is hurting your employer branding — and how to fix it: Problem #1: You’re not sharing compensation information. After all, as the LinkedIn Global Recruiting Trends 2017 report found, 45 percent of employees said better compensation and benefits was the main deciding factor when accepting their current job.