7 Compensation Resolutions for 2017

Compensation Today

That said, 2016 was a challenging year for me, so to start 2017 off right I thought I’d get back into the practice of resolving to do something differently this year. These notions of resolving are ones that I think are both difficult and necessary, especially in the field of HR and compensation in particular. Without further ado, Compensation Resolutions 2017: seven ways to start the new year right! Check out these seven compensation #resolutions 2017!

Healthcare Happenings: 2017 Compensation Best Practices

Compensation Today

In PayScale’s 2017 Compensation Best Practices Report we learned that about half of healthcare organizations (49 percent) will compensate more for competitive jobs. 49 percent of healthcare orgs will compensate more for competitive jobs – which usually means nurses, physicians, etc. Learn More About Our Compensation Software. It provides some insights about how medical and healthcare organizations approach compensation.

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PayScale’s 2017 Compensation Best Practices Report Is Here

Compensation Today

Today we release the eighth annual installment of PayScale’s Compensation Best Practices Report. A strong theme emerged this year showcasing the connection between compensation and organizational culture. There is evidence that some organizations have discovered this connection, linked compensation with culture and – as a result – are thriving. We learned that 57 percent of organizations agree that compensation is becoming more important to executives.

Compensation Transparency

China Gorman

Transparency in Compensation: Trends and Best Practices , underwritten by salary.com , is a thoughtful and interesting discussion of the impact of different levels of transparency in the workplace – from too little to too much. Being more forthcoming with our employees – and not just on compensation practices – will help us win the War for Talent. Ben Eubanks China Gorman Compensation Data Point Tuesday Lighthouse Research and Advisory salary.com transparency

Compensation Based on Your Number of Direct Reports – Ask #HR Bartender

HR Bartender

To help us understand employee compensation, I asked Ann Bares if she would share her expertise and, lucky for us, she said “yes”. Ann is managing partner with Altura Consulting Group and contributor to the Compensation Force and Compensation Café blogs. Ann, let’s start by covering the fundamentals of compensation. What are the individual factors that go into compensation? This might be a bit repetitive but, how is compensation determined for any position?

Nuances of Nonprofit Compensation: 2017 Compensation Best Practices

Compensation Today

In a prior life, I did compensation and HR for a nonprofit. Anyone who has worked in a sales organization knows that you don’t compensate sales the way you do the rest of the organization, or medical staff the same as office staff, or faculty the same as staff. We have gathered compensation best practices from the more than 400 respondents to the PayScale Compensation Best Practices Report who are in the nonprofit industry. Learn More About Our Compensation Software.

Why Compensation Doesn’t Drive Motivation

Reflektive

But will the incentive of a higher salary or compensation bonus improve their work performance? While compensation is a factor in their employee experience, it doesn’t wield as much influence as you may think — a nuance especially important for companies using a pay for performance model. As Monique Valcour wrote in the Harvard Business Review , “How employees work from day to day has a bigger influence on their motivation than their compensation and benefits package.”.

Culture and Compensation

China Gorman

PayScale has produced its 8 th annual in-depth report on compensation best practices: Comp is Culture. Even though I’m not an HR professional, much less a compensation professional, I found it fascinating. Especially the impact that compensation practices have on organization culture. Not surprisingly, the report identifies the following ass the biggest talent- and culture-related challenges in 2017: Finding and growing great talent.

Comp Strategy for Small Businesses: 2017 Compensation Best Practices

Compensation Today

Only 29 percent of small businesses have a compensation strategy, according to data collected for PayScale’s Compensation Best Practices Report , compared with 37 percent of all organizations — despite the fact that small businesses must compete with larger orgs for talent, generally with smaller compensation budgets. But without a compensation strategy, there’s no way for orgs to tell if their money is being used effectively … or wasted.

Compensation Transparency: Advice for Getting the Balance Just Right

UpstartHR

This specifically applies to compensation as well. Trends in Transparency : A wide variety of trends have contributed to this increased demand for compensation transparency. If you’re interested in reading and learning more about compensation transparency, be sure to check out our free eBook on the topic underwritten by the great team at Salary.com, where this content was pulled from. General Communication Compensation eBook Lighthouse Research Research

Compensation Trends: Disruption in Action at the 2017 Total Rewards Show

Compensation Today

The keynote address at this year’s WorldatWork 2017 Total Rewards show was by Peter Sheahan, author of Matter: Move Beyond the Competition, Create More Value, and Become the Obvious Choice. in the world of compensation management. We were offering up our modern, mammoth data set of crowdsourced, vetted and validated “employee-sourced” data and traditional compensation pros were aghast. Learn More About Our Compensation Software.

5 Ways Compensation Will Change in 2017

TLNT: The Business of HR

All indicators show the financial landscape is poised to continue growing in 2017, so employers are now more focused than ever on retaining and attracting key people at their organizations to maximize the business opportunities. Compensation Compensation & Benefits HR Trends Incentives FeaturedAs the economy continued to rebound in 2016, there was intense competition in many talent markets across a number of jobs and industries.

Sales Compensation Strategy 101

HR Daily Advisor

Setting the compensation strategy for the entire organization is no small task, especially when certain groups may warrant their own separate compensation strategy, as they have differing goals and objectives. Salespeople frequently have compensation plans that reflect the fact that their actions are closely tied to achieving these specific revenue and profit objectives. Sales compensation strategy 101. Compensation business compensation plan incentives pay

Surprising Statistics May Shape 2017 Compensation Programs

HR Daily Advisor

The pursuit of the right talent continues to be highly competitive and, according to the latest research from PayScale, that pursuit is shaping compensation programs and strategies. In fact, PayScale’s 2017 Compensation Best Practices Report (CBPR) reveals a shift in strategy, as well as a gap between the perceptions of employees and employers with regard to pay. Compensation practices are increasingly being used as a way to cement relationships with employees.

Compensation Wormhole

Compensation Cafe

He is passionately committed to aligning pay with company strategy and culture and considered a leading expert on equity compensation issues. Dan has written several industry resources including a recent Performance-Based Equity Compensation issue brief. He has co-authored ” Everything You Do In Compensation is Communication”, “The Decision Makers Guide to Equity Compensation” , “Equity Alternatives ” and other books. Time Travel.

HR Moments Matter: 3 Compensation Challenges Solved With People Analytics

Visier

In this post, Allison talks about Compensation. Compensation is one of the key culture-definers for organizations. In Aligning Compensation Systems With Organization Culture , the authors state: “Depending on how [compensation is] designed, communicated, and managed, it can positively or negatively influence an organization’s culture and impact an organization’s optimal performance.”. Look for insights that reveal how fair your compensation practices are.

HR Technology Conference 2017 Key Takeaways

Visier

Download HR Tech 2017 notes. To move diversity and inclusion forward, set actionable goals and objectives tied to compensation at the senior level. The post HR Technology Conference 2017 Key Takeaways appeared first on Visier Inc. The Visier team came back from the 20th annual HR Technology Conference and Exposition ( #HRTechConf ) buzzing over the bright future of the HR technology industr y.

2017 Compensation Salary Budget Report

HR Performance Solutions

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2017 Compensation Budgeting Outlook

Astron Solutions

economy and compensation budget planning. So as we collectively begin the annual ritual of compensation budgeting, let’s start with a quick analysis of the projected economic climate for 2017. Economic Outlook for 2017. percent in 2017, as measured by the change from the fourth quarter of the previous year. percent in the fourth quarter of 2017. in the United States and Canada from 2016 to 2017. 2017 Compensation Budgeting – A 30,000 Foot Review.

How to structure employee compensation

Workable

Pay structures define employee compensation for different jobs or groups of jobs. Here’s our guide on why and how to set up a pay structure: Why you need structured employee compensation. Pay structures (also know as salary structures or compensation structures) help companies offer equitable, competitive salaries and map out employees’ path to growth and higher pay. Competitive compensation packages play an important part in persuading candidates to accept job offers.

Minimum Wage Increases – July 1, 2017

Stratus

Although the federal minimum wage of $7.25/hr has not changed since 2009, several states, cities, and counties will have minimum wage increases as of July 1, 2017. States with Increasing Minimum Wage as of July 1, 2017. States whose minimum wage rates will increase as of July 1, 2017 include: Maryland : $9.25/hr (Montgomery County and Prince George’s County have separate rate increases set to occur as of October 1, 2017 – see chart for details).

Why You Should Share Total Compensation Statements With Your Employees

Compensation Today

Last month when PayScale published the 2017 Compensation Best Practices Report (CBPR), research showed that 40 percent of all organizations provide total compensation statements. What Is a Total Compensation Statement? The total comp statement (also known as total reward or employee comp report), is a valuable tool companies can use to foster transparency, communication and better the employee’s understanding of their compensation.

Obituary for Equity Compensation

Compensation Cafe

Stock Options, Restricted Stock Units, young Performance Units and their cousin Non-Qualified Deferred compensation tragically died in 2017 as an unintended consequence of colliding with the 429 page U.S. Non-Qualified Deferred Compensation (“NQDC” to its friends), a beloved cousin, lived a quiet life at edges of the family. The Equity Compensation family was often misunderstood, but lived to make people more successful.

Get Me a Compensation Strategy, STAT!

Compensation Today

One intentional decision that too many companies aren’t making: establishing their compensation strategy. PayScale’s 2017 Compensation Best Practices Report (CBPR) found that just 37 percent of all organizations have a comp strategy. What is a compensation strategy? It’s the sum of all the choices you make about how to spend your compensation dollars, including the market where you compete for talent and how competitively you plan to pay in that market.

IPO Equity Compensation Rollercoaster!

Compensation Cafe

This post is just a reminder of things any pre-IPO compensation or HR expert should know about what the world is like for the year after your IPO. IPOs and equity compensation have become almost mythical in the media and entertainment. When the pre-IPO price is close to the potential post-IPO price equity compensation can deliver more of a thud than a bang. It’s enough to frustrate even the most mindful* compensation professional.

Compensation Terminology 101

HR Daily Advisor

Like other professionals, compensation professionals can throw around a bunch of terms and acronyms that may or may not make a lot of sense to those not in the field. With that in mind, here’s a short overview of compensation terms that are sometimes confused with one another. Her experience in both operational and HR management provides her with a practical approach to providing online resources that address the challenges facing compensation and human resource professionals.

Salary Compensation Benchmarking 101

Mercer

In many industries, salary compensation benchmarking is one of the most comprehensive ways to stay on top of ongoing business trends. The post Salary Compensation Benchmarking 101 appeared first on Mercer PeoplePro Blog. HR Strategy & Talent Management Rewards & Compensation ACA emerging business entrepreneur entrepreneurs HR human resources SBA SCORE SHRM small business administration small business advice start ups

A Workers' Compensation Insurance Primer

Justworks

Beginning in 1911, states adopted workers' compensation laws, and by 1963 all 50 states had some form of workers' compensation law in place. Every day of our lives, we face risks. To protect against these risks, we take preventative measures such as checking the weather forecast, maintaining our cars, or installing smoke alarms. Many people also purchase insurance policies to prevent risk. Injury or death at work is also a risk.

Compensation In The Real World

Compensation Cafe

I once supervised a Compensation Analyst who had spent much time attending professional seminars and workshops. One result of that education was that when faced with a challenge at work she would repeat her class experience by saying, “the greatest minds in Compensation say that. “. Yes, it is very important to understand the technical foundations of Compensation methodology and practice. Why doesn’t Compensation theory match with workplace reality?

Want a Better Culture? Set Compensation Strategy Accordingly

Compensation Today

Compensation should be a reflection of and an extension of your culture. In PayScale’s 2017 Compensation Best Practices Report (CBPR), we found that 57 percent of organizations agree that compensation is becoming more important to their executives. We think this has to do with the increasing value placed on culture and the growing link between compensation and culture. How Are Compensation and Culture Linked? But how do compensation and values connect?

Communicating Compensation: Who Should Say What When

Compensation Today

Everyone in the organization has a role in the compensation conversation, but the timing is different for each job function. Executives are responsible for approving the compensation plan and communicating it at a high level to the company and, as they’re also managers, carrying out the manager communication duties. These should cover compensation philosophy and purpose, compensation plan changes at the highest level and next steps. Compensation plan information.

Which Compensation Structure Is Right for Your Company?

Compensation Today

Compensation structures continue to evolve, and they usually do so to help organizations keep current with both market and workforce trends. Some may wonder what compensation structures are. Loosely, “compensation structure” refers to the various ways that companies can organize their pay practices. How have compensation structures developed? Grades and Ranges: today’s compensation structure. Learn More About Our Compensation Software.

Get to Know Oregon’s Equal Pay Act of 2017 [UPDATE]

Trusaic

In this post, we are looking at Oregon’s Equal Pay Act of 2017. In June 2017, Governor Kate Brown signed Oregon Equal Pay Act of 2017 (OEPA) into law. The post Get to Know Oregon’s Equal Pay Act of 2017 [UPDATE] first appeared on Trusaic.

Summer Reading 2017: 5 Popular HR Analytics Articles You Need to Read Today

Visier

In fact, Merck KGaA now has a mobile people analytics app that is enabling 3,000 managers and HR employees to access information on employee headcount, diversity, staff turnover , performance assessment, and compensation. The post Summer Reading 2017: 5 Popular HR Analytics Articles You Need to Read Today appeared first on Visier Inc.

Visier 184

Employee Compensation The Latest Trends

Mercer

Employee compensation comes in many forms. While salaries are generally the most recognized, employers must also consider other aspects in their compensation planning. The post Employee Compensation The Latest Trends appeared first on Mercer PeoplePro Blog. Rewards & Compensation Elise Boivin emerging business entrepreneur entrepreneurs HR human resources SBA SCORE SHRM small business small business advice small business incubator start ups