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What Is Human Resources?

Analytics in HR

They maximize employee capabilities that will help drive organizational success by identifying the skills gaps, creating L&D programs, and implementing performance management systems. Managing Human Resources involves overseeing all aspects of HR, such as hiring, training, compensating, engaging, promoting, and retaining employees.

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Compensation Planning in 7 Actionable Steps

Analytics in HR

Thorough compensation planning allows your organization to create compensation systems that reward employees fairly and support business goals. Different types of compensation include base pay, company bonuses, stock options, and benefits like insurance, pension programs, and parental leave. It can also include bonuses and tips.

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A Guide to Payscale Philosophy and Strategy With People Operations

Zenefits

In addition, as a rising number of organizations adopt remote work, there is an increased need for clear communication regarding salary negotiation, benefits packages, and incentives. Creating a compensation philosophy that aligns with your company strategy is one way to strengthen hiring and retention.

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The Four Times You Should Be Talking About Compensation Throughout the Year

Compensation Today

We’ve written a lot at PayScale about compensation communication — especially about WHY talking about compensation is important, and WHO should be talking about pay. New Hires and Promotions: Discuss pay when employees are hired or when they move in to a new role. Learn More About Our Compensation Software.

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Compensation and Benefits

Analytics in HR

Together, they make up a total compensation package, which may include salary, bonuses, insurance, retirement contributions, and various other perks aimed at attracting, motivating, and retaining employees. Compensation is the money an employee receives in exchange for their labor, which could be a salary, wages, commission, and bonuses.

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Pay transparency: the pros, the cons, and best practices

Workable

Outcome transparency involves disclosing the actual compensation figures, such as specific salary ranges or benchmarks for different roles and levels within the organization, allowing employees and candidates to see where their pay stands relative to those benchmarks. Related: Can’t afford to pay more?

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3 Tips for a Better Executive Compensation Strategy

Thrive TRM

Leverage Your Peer Network to Find the Best Data Sources For You Understanding the most popular datasets for executive compensation and how they compare across stage, size, and sector is the first step to efficiently answering compensation requests that come in from investors, hiring managers, and founders.