PayScale CEO Mike Metzger kicked off Compference with his keynote on the future of Modern Compensation. New company metrics of success should include the number of new company babies per year and the number of first time home buyers per year. Chris Martin is the lead data analyst at PayScale. Starting at 8am this morning, Compference attendees have had a jam-packed day networking, learning and knowledge sharing everything under the sun related to compensation. MORE

In the 2017 Compensation Best Practices Report , PayScale shared that most companies do link compensation to performance. Once you have determined what these are in your organization and have baselines, tie the goals for this metric to compensation planning. MORE

Having recently put together PayScale’s 2017 Compensation Best Practices Report , I learned some alarming stats that tell a pretty tough story for our managers. At PayScale, our professional services team provides manager training. “I don’t know why, HR wouldn’t let me.”. MORE

Workplace currency” is a term we’ve coined at PayScale — much like the saying “money makes the world go round,” we see workplace currency as the grease in the wheels of the workplace. A metric-driven, performance-based plan is a nice way of taking favoritism out of the mix. MORE

A new PayScale study asked employees if their workplace made the world a better place , those workers who responded “yes” had the highest median pay of all survey respondents, at $50,600, followed by those who said “very much so,”at $49,700. MORE

Use data and facts to evaluate candidates the same way – Says Webb, “Create a standard evaluation system and metrics and use them the same way. This year, Payscale released a report reviewing gender pay gaps and racial pay gaps. MORE

In 2017, Amazon opened its first supermarket without salespeople in Seattle. PayScale’s research on compensation best practices found that 33 percent of companies worldwide had positions that have been open for six months or more. Look at your performance metrics. Think about creating performance metrics that focus directly on how individuals are contributing to business goals. This post originally appeared on Payscale. MORE