Attract and retain talent with Bob’s Compensation Benchmarking powered by Mercer


Prospective employees demand higher salaries, better perks, and more flexibility, and many companies are adjusting their compensation packages to attract the best talent. Customized benchmarking datasets for HiBob customer needs.

Benchmarking and how to talk comp with your people


Compensation has long been a taboo subject in the workplace. Until relatively recently, people viewed compensation as something very personal–a topic you didn’t talk about with other people, least of all your co-workers. This is where benchmarking comes in.


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Compensation Analysis: The Definitive 2022 Guide


Conducting compensation analysis is a lengthy, necessary project. Companies will want to ensure that their compensation packages remain in alignment with the market — otherwise, they risk losing staff to other businesses that offer higher salaries. . What Is a Compensation Analysis?

Executive Compensation Trends & Benchmarks: A Review of Mid-Year 2022

Thrive TRM

Part of the report analyzes executive compensation, which we’ll cover more in-depth in this blog. Executive Compensation Trends & Benchmarks. Our executive compensation data seems to back up the belief from our mid-year pulse survey as Q2 2022 average OTE was up 3%.

5 Steps to a Smart Compensation Plan

Speaker: Camie Bailey, Software Implementation Manager, PayScale

Many forces are coming together to accelerate the pace of change in the workplace. We're now in an employee's market where organizations fight tooth and nail to get top talent. Watch this webinar on demand and get key tips on how to develop a fair compensation plan with accurate salary benchmarking. Payscale will show you how to create a modern comp plan from intention to implementation.

Compensation Packages That Drive Executive Performance

Professional Alternatives

It’s possible to inspire your executives to deliver excellent results, by ensuring that their compensation packages are properly aligned with the company’s strategy. Tips for Designing Compensation Packages.

Salary Compensation Benchmarking 101


In many industries, salary compensation benchmarking is one of the most comprehensive ways to stay on top of ongoing business trends. The post Salary Compensation Benchmarking 101 appeared first on Mercer PeoplePro Blog. HR Strategy & Talent Management Rewards & Compensation ACA emerging business entrepreneur entrepreneurs HR human resources SBA SCORE SHRM small business administration small business advice start ups

Compensation Benchmarking Software


Compensation plays a major role in the retention and attraction of talent in an organization. There are many tactics enterprises can use to ensure they’re paying fairly and competitively, one of the most effective of which is compensation benchmarking. Here, we take a closer look at the practice, along with compensation benchmarking software, an innovative tool designed to help HR professionals. What is Compensation Benchmarking?

Cafe Classic: The Break-Up - When Staffing and Compensation Practices Split

Compensation Cafe

Editor's Note: In this labor market, attracting and keeping the right talent depends on Staffing and Compensation working in sync. What can you do when your compensation survey data is wrong? Do your market benchmarking practices reflect this shift?

The 5 Biggest Compensation Strategy Challenges for HR Leaders


With today’s competitive talent market compounded by economic factors like high inflation, people leaders face tremendous pressure to create a competitive compensation strategy. They also want fairness and equity, both in the way they’re treated and how they’re compensated. .

Un”comp”licating Compensation - Building a Brand People Want to Work for

Speaker: Kathy Steele, CEO, Red Caffeine

Are people your greatest asset? Then fair and transparent compensation and benefits are the way to affirm your organization is dedicated to this pillar of the business. However, having a strategic comp philosophy is only one part of becoming an employer of choice. It is critical to showcase your company culture, establish an employer brand foundation, and modernize your talent strategy. With unemployment levels nearing all-time lows, it’s time to get started and embed your comp practices into a part of your overall employee experience. Join Kathy Steele, an accomplished serial entrepreneur, employer branding expert, and CEO of Inc. 5000 winner Red Caffeine, as she tackles the common business challenge of setting a compensation strategy that aligns with your culture to help you build a brand to attract, engage and retain top talent in a job seeker’s market.

Modern Compensation Strategy Best Practices


No matter how large or small your business is or what industry you work in, chances are, you’ve thought about how best to determine compensation for your employees—especially if you are a company or HR leader. They may need some updating to align with the compensation best practices below.

Executive Compensation Benchmarks & Search Outlook for 2022 Webinar: A Recap

Thrive TRM

The broader trends we’re seeing across the board: Demand for executive talent continues to be very high Compensation continues to go up across different roles Search velocity continues to decrease, while days to close has been increasing.

2021 Executive Compensation & Talent Benchmarks Report: A Recap

Thrive TRM

High demand means candidates are in control of the conversation (and compensation packages). Compensation is pacing inflation, and candidates are favoring remote or hybrid options. Download Thrive’s 2021 Executive Compensation & Talent Benchmarks Report. Summary.

Demystifying Compensation with Data-Driven Total Rewards Statements


Attracting great talent has never been more competitive, with companies understandably wanting to provide the most enticing compensation packages possible. The challenge for HR teams is to find a better way to show employees and future employees a more complete picture of their compensation.

How to Build Pay Grades and Set Salary Ranges

Speaker: Jennifer Ferris CCP & Paige Hanley CCP

Join PayScale’s compensation experts as they show you how to build ranges from a market-centered midpoint, and how to use market data to update or create market-based pay ranges. Choose benchmark positions and slot non-benchmark positions into your pay structure.

Your Guide to Compensation Benchmarking


While there are a number of things that will have to change to erase the gender pay gap, one thing businesses can do is explore and implement compensation benchmarking. Whatever the reason, here’s a crash course in all things compensation benchmarking.

Hiring a Compensation Consultant: 7 Steps for Nonprofits

Astron Solutions

Your nonprofit organization might find that it needs some outside guidance around compensation for any number of reasons. Lowering turnover , strengthening your recruitment strategies , and conducting custom sector surveys are all common reasons for nonprofits to hire a compensation consultant. For these organizations, hiring a nonprofit compensation consultant is the best choice. Here’s what we’ll cover: Steps for hiring a compensation consultant.

2022 Recruiting Benchmarks for Scaling Startups


More than ever, it’s a candidate-driven market and employees consider potential roles on more than just commute and compensation. Click here to download the ebook and strengthen your recruiting with value-driven strategies and benchmarks!

2022 Recruiting Benchmarks for Scaling Startups


More than ever, it’s a candidate-driven market and employees consider potential roles on more than just commute and compensation. Click here to download the ebook and strengthen your recruiting with value-driven strategies and benchmarks!

Small Business Guide to Comp Benchmarking

To compete in today’s market, you must know what the market pays for certain skills so you can develop fair and competitive offers. Understanding the market, then determining guidelines for pay isn’t just a nice to have for today’s talent, it’s a must have.

Benchmarking and Executive Compensation


New research by University of Michigan professor Martin Schmalz and co-authors Miguel Anton and Mireia Gine of the IESE Business School and Florian Ederer of the Yale School of Management helps explain why—and why benchmarking happens more in some industries than in others. ” Schmalz, Anton, Ederer and Gine examined 20 years’ worth of data from ExecuComp, which measures the compensation of top executives of the largest 2,000 U.S.

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. What exactly is compensation planning, what are its objectives, and how do you go about compensation planning in practice?

Compensation Analyst: All You Need to Know About the Role


In the competitive candidate market, organizations need to get their compensation strategy right. That’s why a compensation analyst is a fast-growing role and a career path worth considering. Let’s explore the role of a compensation analyst and how you can become one.

How to Evaluate Your Compensation Plan


Whether you are recruiting new employees or focusing on employee retention , a solid compensation plan is key to finding and keeping top-quality employees. That means a regular review of your compensation package should be a top priority. Total compensation. Benchmarking.

Benefits of Compensation Analysis


It is important to conduct compensation data audits frequently in order to produce an equitable and appropriate compensation plan. Compensation benefits research is necessary to ensure fair working conditions and helps improve employee retention plans.

8 Top Recruiting Benchmark Goals for Enterprises in 2022


What You’ll Learn: Benchmarking metrics for efficiency, equity and transparency How top employers are winning tech talent and how you can emulate them Overall trends in what employees want from an employer brand.

8 Top Recruiting Benchmark Goals for Enterprises in 2022


What You’ll Learn: Benchmarking metrics for efficiency, equity and transparency How top employers are winning tech talent and how you can emulate them Overall trends in what employees want from an employer brand.

Industry Verticals, Organizational Cultures, and Benchmarking


That’s the business case for offering employee benefits and other types of non-cash compensation and perks. These groups are so large that they often self-insure many of their insurance coverages, and soon terms like “benefits administration,” “workflow” and “benchmarking” become a regular part of your vocabulary. Many of us enjoy benchmarking tools such as those offered by IBI because there are lots of ways to slice and dice the data for comparative purposes.

Compensation Surveys: Are They Necessary?

Astron Solutions

Finding the fairest and most motivating compensation for your team members is one of the most important jobs for HR leaders like you. A popular method of evaluating a fair employee compensation strategy is to refer to a valid compensation (or salary) survey. Compensation

Juggling the Challenges of Remote Employee Compensation

Astron Solutions

In this Astronology® , we’ll briefly discuss a weakness many organizations are facing in connection with the recent demand for remote and hybrid work environments, and some compensation options to deal with this new work environment.

Fundamentals of Executive Compensation


Are you new to the world of executive compensation? Do you want to make sure you have the foundational skills you’ll need to create executive compensation programs that will help you cultivate, inspire, and keep the talent you’ll need to meet your company’s goals?

7 Compensation Issues and How to Fix Them

Analytics in HR

Ignoring compensation issues at your organization can lead to unhappy workers, low morale, decreased productivity, and increased turnover. So how do you identify and fix compensation issues? Contents Examples of compensation issues Steps to identify and fix compensation issues.

6 Must-Know Stats from Our 2022 Benefits Benchmark Report


6 Must-Know Stats from Our 2022 Benefits Benchmark Report. We’ve scoured over 200 million benefit elections in our system and analyzed real user behavior and data to bring you our 4th annual Benefits Benchmark Report. 6 Must-Know Stats from Our 2022 Benefits Benchmark Report.

How to Create an Effective Compensation Philosophy

Analytics in HR

A compensation philosophy guides your organization in creating fair, transparent compensation programs and helps you attract and retain employees. Contents What is a compensation philosophy? Why does your organization need a compensation philosophy?

4 Best Practices For Sales Compensation Plans

Best Of HR

What is a best practice for sales compensation plans? To help you follow best practices for sales compensation plans, we asked marketing managers and CEOs this question for their best recommendations. Make Compensations Fair and Predictable.

Maximizing Compensation’s Role in Values, Culture & Engagement Strategy


In fact, it requires that businesses see “compensation” more broadly. Compensation Excellence Getting compensation right, for both the employee and the organization, is complex. The truth is, how companies more broadly compensate employees is what makes a difference.

HR Benchmarking: All You Need to Know to Get Started

Analytics in HR

Benchmarking is a practice used across industries to make comparisons between and within organizations. HR benchmarking helps make HR processes and policies at your organization more effective. Truly valuable benchmarking looks at the nuances of your organization and geography.

Benchmarking Pay for the US National Soccer Teams

Compensation Today

While we know that compensation for both the women’s and men’s teams is set by collective bargaining agreements, play along with us as we look at the process of conducting a salary market study through the lens of this situation. They have two main steps: benchmarking the position and defining the market. Learn More About Our Compensation Software. Benchmarking the position. We’ll need to find an appropriate benchmark job as our basis for comparison.

3 Ways to Approach Benchmarking Hybrid Jobs

Compensation Today

Have you ever found yourself staring at lines of market data, wondering how you are going to benchmark your HR/Accounting Assistant, Recruiter/Front Desk Receptionist or Medical Coder/Billing Specialist? The problem is that benchmarking hybrid jobs is more complicated than simply “splitting the difference” between the market value of the two pieces of that job. Benchmarking hybrid jobs is more complicated than simply “splitting the difference.' HR Management job benchmarkin