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10 vital HR metrics to track for your business

Business Management Daily

Human resources analytics, a relatively new discipline, is growing at an extraordinary rate and is quickly becoming an essential competency for HR professionals, according to Dr. Michele Rigolizzo, an assistant professor at the Feliciano School of Business at Montclair State University. Savvy organizations have already delved into this area.

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A Guide to Compensation Analysis

Analytics in HR

Compensation analysis is vital to providing fair, equitable compensation. A thorough compensation analysis provides the data and insights for critical decisions as it relates to salaries and total benefits for employees. The purpose of this guide is to provide a basic understanding of compensation analysis and its associated benefits.

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7 Compensation Issues and How to Fix Them

Analytics in HR

There are also companies you can pay to perform a market analysis on your organization. Conducting a pay equity analysis. You should conduct a pay equity analysis within your company at least once per year to help you uncover any pay disparities. Hiring a compensation consultant. Tracking compensation metrics.

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A Comprehensive Guide to the Compa Ratio

Analytics in HR

In its original use, compa ratio (or comp ratio, or compensation ratio) is a simple formula designed to compare an individual’s actual salary to the midpoint of a defined salary range. As a result, it has probably become the most helpful ratio in pay and compensation analysis. Don’t base decisions on compa-ratio alone.

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OFCCP Compliance: Proactively Prepare for Compensation Audits

Trusaic

Key updates to OFCCP scheduling letter The changes detail how OFCCP will evaluate compliance and how employers can demonstrate they have carried out a detailed pay equity analysis. The compliance review may progress in three phases depending on the agency, which can include a desk audit, an on-site review, and an off-site analysis.

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Compensation and Benefits

Analytics in HR

This amount is negotiated during the hiring process and agreed upon before the employment contract begins. For example, if an individual employee achieves a professional milestone, an entire team meets a goal, or the entire company meets a specific target, then those people are rewarded accordingly.

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“5 Things We Need To Do To Close The Gender Wage Gap”, with John Schwarz CEO of Visier

Thrive Global

If there is a clear difference in scale or compa ratios, then it is clear there is a bias. a cloud-based analytics platform that helps professionals ask the right questions, see important truths about their business, and plan a better future. Today, my firm is developing analytics to keep tabs on employees?

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