4 Tips for 2020 Career Development

Compensation Cafe

Career development no longer has to share the total rewards spotlight, and it becomes the go-to form of employee recognition. And while employees are going to sorely miss the dollars, they'll be thrilled that you'll finally be giving attention to their career. You may think that addressing career development is no big deal. Why not skip them and head right for a career development experience that gives value?

5 Ways Starting a Podcast Helps Your Career Development

Career Metis

There are many things you can do in a day that will allow you to take on this production-oriented mindset, but making your own podcast is truly an amazing opportunity for both personal and career development. This list will give you 5 good reasons why you should consider starting a podcast and it possibilities for your career development. 1) Develop Managerial Skills.

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Workers are looking – and leaving – for career development

HR Morning

Prospective employees see career development as among the most important reasons to sign with —and stay with — with your organization. And, while you may think you are offering top-notch learning and development programs, they don’t think you are doing such a great job. Surveys show that workers and employers don’t agree on how well organizations are meeting employees’ development expectations. Employee development. Leadership development.

Career Development Planning: 10 Tips for Employers

Paycor

The good news is, by clearly laying out what an employee can achieve and what it will take to make it happen, a well-thought-out career development plan doesn't just answer that all-important question, it gives employees a reason to stay as well as providing renewed focus and motivation. Careers are unpredictable and knowing that someone is looking out for you can provide a great reason not to jump ship. Think Short-, Mid- and Long-Term Career Pathing.

How to Improve Your Compensation Communications

Compensation Cafe

You'll find a long list of articles in Compensation Cafe recommending that you create a "message platform" to build your Compensation communications. (It Of course, anyone in Compensation can list a set of messages describing the value proposition of working for your company.

3 Tips to Kick-Start Career Development in Your Company

Compensation Cafe

What keeps employees at your company? In every recent year, career or growth opportunities have been ranked in the top three of employee priorities. Even so, I don't know a company that's satisfied that they've done enough in the career development area. Somehow career development projects seem to be too time consuming to even consider. There are probably just as many content sources for career advice. Base Salaries Compensation Communication

Where's the Fun in our Compensation Jobs?

Compensation Cafe

We really don't spend much time studying the emotions we feel as we practice compensation. Some people find compensation basics boring -- job analysis, job definition, job pricing using surveys and so on. Have you considered the role your work has played in the employees' career?

The Importance of Career Development in Your Total Rewards Strategy

HRsoft

Career development is an important component of total rewards, and it’s the biggest driver of engagement among Millennial employees. According to an HRsoft poll, more than a third of all survey respondents have defined career paths by job families in their organizations. The following questions may help you to determine where your company stands in terms of career development: Do you have clear career paths for development and progression?

Employee Engagement Is a Financial Strategy

HR Bartender

Their research reported that organizations that score in the top 25 percent on employee experience have nearly three times the return on assets compared to organizations at the bottom of the list. Companies should invest in employee’s futures with training and development opportunities.

Can You Believe It? A Shortcut that Can Kick-Start Career Development in Your Company

Compensation Cafe

Career development projects have a bad reputation. At least I guess they must since there are so few of them. Career opportunities and professional growth are items that lead every survey ranking of what it takes to keep an employee at a company -- you know, instead of quitting. One of the reasons for the scarcity of career development programs is that most of our colleagues believe they take forever to create and cost a bundle along the way.

How to Use a Message Platform for Compensation Communications

Compensation Cafe

Looking for a practical example of a compensation communications strategy? Proof points are the details of the compensation practices you are explaining. This compensation plan design doesn't really align with the company's new, higher energy initiative to increase Revenue.

What Does Burnout Have to Do with Compensation?

Compensation Cafe

But what does burnout have to do with the Compensation Department? Most of us believe burnout comes from overwork and we're ready to say that the Compensation Department has no influence on that situation. Earlier, she was a Principal at Willis Towers Watson.

Cafe Classic: Rethinking Compensation Training

Compensation Cafe

Editor's Note: Is your manager training on compensation failing to get the job done? Now, before you tell me manager training and executive development are two entirely different animals and you don't need to read on, let me assure you that McKinsey has given us a few nuggets to learn from.

What’s Keeping HR Up at Night in 2020?

HRExecutive

Slightly more than half of the respondents worry about retaining key talent, with the next most common concern being developing leaders and succession planning, followed by improving the employee experience, and driving innovation and helping teams work together.

HR Moments Matter: 3 Compensation Challenges Solved With People Analytics

Visier

In this post, Allison McConville, Visier’s VP of Human Resources , will shares how you can use data to support the people moments that matter, enabling the best compensation decisions for both your employees and your organization. . Managing Compensation Costs.

Why Compensation Doesn’t Drive Motivation

Reflektive

No matter how happy and engaged your employees are at work, they won’t turn down a raise or a perk. 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. Compensation Isn’t Enough. Use Development as a Driver.

The 7 Skills You Need to Conduct an Effective Job Search

HR Bartender

At last year’s KronosWorks Conference, New York Times best-selling author and fellow Workforce Institute board member Dan Schawbel , talked about the latest workplace trends forecast based on his research. People today have lots of options when it comes to their careers. Careers are about goals. Individuals might also have career goals surrounding compensation, benefits, and perks. Having a network is critical for career development.

Top Investments in Compensation Communication

Compensation Cafe

There may be more worthwhile goals for a compensation department to have than pay transparency , though the national media wouldn't have you believe it. After all, how many could actually be ready for such a dramatic intervention when typical compensation communications gets a limited investment in time or money each year? At Compensation Cafe we encourage our readers to improve CLARITY rather than enforce pay transparency before you're ready.

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.

What Can the Novel Coronavirus Teach Us About Compensation Communication?

Compensation Cafe

Otherwise we won't ENGAGE IN THE ACTIONS like self-quarantine which may be good for older citizens, but we wouldn't be at all willing to take an action like that without obtaining detailed insights into its importance, as well as discussing it with family and friends. If you're starting to see those building blocks through the haze, let's take a shot at a parallel compensation case story. Earlier, she was a Principal at Willis Towers Watson.

Compensation Communications: Should I Say How I Feel?

Compensation Cafe

Many of our colleagues would say that compensation has nothing to do with feelings. On the other hand, feelings have a lot to do with compensation COMMUNICATIONS. Addressing feelings through compensation communications is tricky business. Just as with compensation design, there's a right and a wrong way to deal with employee communications. Let's look at an example. Some may still disagree that feelings have anything to do with compensation communications.

Compensation Communications that Hit the Mark This Time

Compensation Cafe

What have data and analytics got to do with compensation communications? Imagine you had to tell the Compensation Committee that the company couldn't afford one of their proposals. Of course your explanations for the Comp Committee would have far more detail than the ones you used at home. Many clients are surprised to learn that you "take things apart to put them back together again" when you design compensation communications.

Looking for a Compensation Communications Template Anyone?

Compensation Cafe

Any day now you're going to need to get serious about planning compensation communications. I thought I'd give you a condensed version of how to organize communications for a calendar-year compensation plan. Earlier, she was a Principal at Willis Towers Watson.

Choosing the Best HR Certification – Ask #HR Bartender

HR Bartender

Certified Employee Benefits Specialist (CEBS) program is housed by the Wharton Executive Education Center at the University of Pennsylvania. The Association for Talent Development (ATD) offers two credentials: Certified Professional in Learning and Performance (CPLP) and Associate Professional in Talent Development (APTD). WorldAtWork offers a Certified Compensation Professional (CCP) program. You want to get a credential that benefits your career.

Compensation Management Trends to Watch for in 2020

HRsoft

While we are reaching the mid-mark of 2020, let's review how compensation management will play as important a role as ever in attracting and retaining the best talent for your organization. While it’s important to always make compensation decisions that align with your company’s specific needs and strategy, it’s also helpful to analyze the market to understand how your organization pays compared to competitors. Developing Learning & Development Opportunities.

What Does a Marketing Approach to Compensation Really Mean?

Compensation Cafe

How many times have you heard that compensation communications needs to take a marketing approach? It sure sounds like a better way to go at communications, but what does it really mean? Deeper understanding should make it possible to get better at your compensation communications.

Don't Do That! Bad Habits and Compensation

Compensation Cafe

Everything we do in compensation is communications. Change management should be the foundation of 90% of compensation communications. Whether you're developing an implementation plan or a communication plan, it's crucial to start by defining the habits, understanding and attitudes that exist now and will just be plain wrong when you move into your new plan or new compensation year. Earlier, she was a Principal at Willis Towers Watson.

Compensation Management Trends to Watch for in 2020

HRsoft

As we look ahead to 2020, compensation management will play as important a role as ever in attracting and retaining the best talent for your organization. Thus, the question stands: What lies ahead for compensation in 2020? Developing Learning & Development Opportunities.

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.

Development Is About Creating Opportunities – Friday Distraction

HR Bartender

(Editor’s Note: Today’s post is brought to you by our friends at Kronos , the global leader in delivering workforce solutions in the cloud. Visit them at HR Technology conference in booth #1622. I continue to hear from business executives that employees need to “own their careers.” Employees understand their career goals better than anyone, so they should be in the driver’s seat when it comes to accomplishing them. IMHO, employees are very willing to own their careers.

Kronos 309

3 Ways to Improve This Year's Compensation Communications

Compensation Cafe

The compensation communication cycle takes many weeks -- too long to be disconnected from your audiences. Treat compensation as part of the business cycle. Compensation Cafe founder, Ann Bares, recently wrote a fabulous guide to developing a compensation philosophy that can help you obtain key insights by asking crucial questions. The purpose of each element of your compensation program. Earlier, she was a Principal at Willis Towers Watson.

Growing a Healthy Compensation Program

Compensation Cafe

Nonetheless, consultants and researchers will tell you that there are some predictable similarities between the reward challenges of companies that are the same size and/or at the same stage of development. I will cover the first three sizes in the series and leave it at that. There is a good-sized HR budget, plus the total HR and Compensation staff usually adds up to at least six practitioners who have had enough experience to know what "wellness" looks like.

Recruiting Success: Try a Student Loan Benefit Program

HR Bartender

EdAssist was one of the very first providers to offer student loan benefit programs for large employers so I asked Chris Duchesne, vice president at EdAssist, for a high-level definition. “In One big difference is student loan benefits can apply to degrees acquired prior to entering the workforce, as well as those earned during your career (depending on how the policy is designed). Today, the average debt at graduation has tripled to about $35,000.

Cafe Classic: The Truth About Great Compensation Design

Compensation Cafe

Today, we feature a Classic truth from Margaret O'Hanlon about what ultimately enables your compensation plans to achieve greatness. Frankly, the better we understand and the sooner we embrace this reality, the we will be at delivering the right results! A few managers can become better at managing through coaching and development. Instead of bemoaning the state of things, though, I want to point out aspects of their research that will help our compensation design.

Ernst & Young Splits Compensation and Performance Reviews

Reflektive

In the trend towards continuous performance management, many companies are asking how to approach compensation, reward and promotion decisions without a traditional annual review. The argument for splitting performance management and compensation into separate processes is that it allows performance management to focus on learning and career development for employees. Employees and managers are already thinking beyond annual compensation in this space.

How to Celebrate Global Wellness Day at Work

Achievers - Recruiting

Here’s how to create the perfect Global Wellness Day at work. The first pillar of the perfect Global Wellness Day at work is to help your employees practice or learn about physical wellness. Global Wellness Day is a powerful opportunity to reduce stigma around mental health at work.

Performance and rewards in the future of work

HRExecutive

Mercer’s 2019 Global Performance Management Study found that only 2% of leaders believe their performance process delivers high value, only a half have goals at the business-unit level and fewer than 3% believe they have excellent feedback practices.

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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. As slack in the labor market diminishes and firms must increasingly compete for a shrinking pool of unemployed or underemployed workers, growth in hourly compensation is expected to pick up.”. From ERI: “Salary increases are projected to remain stable at 3.0%

Growing a Healthy Compensation Program -- Part Two

Compensation Cafe

So let's look at what can be learned from the case study of a start-up that quickly grows into a thriving mid-sized company. We'll identify some of their missteps -- common to companies their size -- then discuss what they can do to achieve healthy compensation habits. Case background: In the first article , we looked at the compensation habits of a company called Healthy Gadgets, a new medical device company that began with fewer than 100 employees.

Would You Provide Your W-2 to Get a Job

HR Bartender

Career Sherpa has a really interesting post about it over on her blog. But I’m not a compensation expert. So I asked Ann Bares , managing partner with Altura Consulting Group and contributor to the Compensation Force and Compensation Café blogs, if she would share her expertise. Ann, is the notion of supplying your W-2 as income verification a new development? Editor’s Note: Check out Ann’s Compensation Café article on this topic here.