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To give, or not to give? Navigating the 2023 merit pay dilemma.

Bob

On the other hand, strategic compensation incentives are crucial for retaining the key talent you’ve fought so hard to find over the last few years. To better understand how to approach merit increases or freezes, it’s worth looking at some industry benchmarks and how other organizations think. To put it simply: It’s complicated.

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Is Your Company Following its Compensation Philosophy?

Workday

A WorldatWork study sponsored by Aon Hewitt found that while 92 percent of companies surveyed have a formal compensation philosophy, only 63 percent have it in writing. Special perks like Friday yoga or in-chair massage, retention bonuses, and large cash incentives for employee referrals may be critical components.

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18 Benefits of HR Analytics For Your Business [With Examples]

Analytics in HR

HR analytics helps HR professionals make data-based decisions that play a pivotal role in an organization’s success. HR analytics involves collecting data and key metrics on your workforce and organization to gain valuable insights and better understand their effectiveness. The HR analytics market is set to grow by 90% to $3.6

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10 Best Employee Benefits Platforms to look out for in 2023

Vantage Circle

Enhanced Data Analytics Many employee benefits platforms offer advanced data analytics tools to help organizations gain insights into their benefits programs. This includes metrics such as enrollment rates, claims data, and employee feedback. Compatibility is key to streamline processes and avoid data discrepancies.