Analytics in HR

JUNE 22, 2022

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. Contents What is a compensation analyst?

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Compensation HR Planning HR Software Interview Software 84

Decusoft

MAY 20, 2021

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. What Are The Benefits of Compensation Analysis ?

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Analysis Compensation HR Planning Bonuses and Incentives 96

Analytics in HR

JULY 31, 2023

As a department, it is responsible for managing HR activities from recruitment and onboarding, compensation and benefits, learning and development, performance management, and employee relations to separation or retirement. Administers employee benefits and compensation that enhance employees’ satisfaction and financial security.

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HR Planning Resources Hiring Software Onboarding Software 57

cipHR

AUGUST 9, 2023

But among hundreds, if not thousands, of people metrics, what should your HR systems report on? Here are 24 metrics we typically see C-suites asking for most. Let’s explore the metrics we often see C-suites asking HR teams for – first the fundamentals, then more sophisticated reports that power advanced modelling and forecasting.

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HR Planning Hiring Software HR Software Onboarding Software 52

Analytics in HR

OCTOBER 27, 2023

What is compensation and benefits? Compensation and benefits refers to the monetary and non-monetary rewards an employee receives from their employer in exchange for their work. Overall compensation is the top factor that job seekers consider when accepting a new job. What is the difference between compensation and benefits?

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Compensation Wage and Hour Training Bonuses and Incentives COMPAS 111

Analytics in HR

SEPTEMBER 13, 2023

Skills required to earn within the 75th percentile: Human resource expertise: Solid HR knowledge of talent acquisition, performance management, compensation and benefits, employee relations, talent development, and workforce planning. They design, implement, and monitor employees’ equity and compensation plans.

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HR Software HR Planning Hiring Software Recruiting Software 92

Kazoo

OCTOBER 25, 2018

As Baby Boomers retire, the need to shape younger workers to fill available management roles grows stronger. Key Metrics. Depending on the needs of your business, as well as the industry, these metrics can vary, but they should all focus on the happiness and engagement of your workforce. Measurement Methodology.

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Hiring Software Data HR Software Training 113

Kazoo

OCTOBER 25, 2018

As Baby Boomers retire, the need to shape younger workers to fill available management roles grows stronger. Key Metrics. Depending on the needs of your business, as well as the industry, these metrics can vary, but they should all focus on the happiness and engagement of your workforce. Measurement Methodology.

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Visier

SEPTEMBER 26, 2018

These measures include laws that prohibit employers from asking about previous salaries, employer reporting on a number of equality metrics and requiring some form of pay transparency. A wage gap also increases the likelihood that women will be living in poverty, both during their work years and in retirement.

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Sexual Harassment Visier Harassment Hiring Software 188

Analytics in HR

NOVEMBER 1, 2022

Human resources specialists perform specific HR functions like recruitment, training and development, compensation and benefits, rewards, and employee relations. This requires HR professionals to make decisions based on data and metrics. Compensation and benefits. What is a human resources specialist? Employee relations.

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HR Planning Resources Hiring Software Onboarding Software 121

Visier

NOVEMBER 12, 2015

As baby boomers head into retirement, companies will face a huge shortage of skilled workers to replace them. Consequences of this can range from reduced competitiveness and productivity to increased employee turnover to higher compensation costs. Here are a few demographic metrics you should be monitoring: 1.

Hiring Software 150

Hiring Software Diversity HR Software Recruiting Software 150

Acendre

FEBRUARY 28, 2023

Being in healthcare, the organization is no stranger to data and metrics but the Director of HR wanted to take understanding of the people data to the next level. The inclusion of recruitment data and compensation data also means the group now has the ability to call out the costs associated with first year turnover.

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Analytics Retention and Turnover Hiring Software Succession Planning 52

Analytics in HR

FEBRUARY 1, 2024

Is your compensation management approach helping or hurting your organization in the talent war? In a recent LinkedIn Talent Solutions report , compensation was ranked as the #1 top priority for candidates worldwide. In this article, we’ll explore the ins and outs of compensation management and why it matters.

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Planning Tools HR Software Hiring Software Compensation 96

Analytics in HR

NOVEMBER 2, 2021

Voluntary turnover is an HR metric referring to an employee’s departure based on their own decision rather than the employer’s decision. Involuntary turnover includes actions such as dismissal, layoffs, retrenchments, retirement. You can do this by measuring against industry benchmarks. What is voluntary turnover?

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Retention and Turnover Hiring Software Interview Software HR Software 81

China Gorman

SEPTEMBER 23, 2014

As of now, only 50% of HR departments state that they use quantifiable metrics and benchmarking in workforce development and only 47% say they know how to extract meaningful insights from the data available to them. employees is competitive compensation (84%) followed by retirement plans (75%), and vacation time (62%).

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HR Software Recruiting Software Planning Tools Compliance Training 160

Vantage Circle

DECEMBER 19, 2023

Companies with data-driven PeopleOps teams use a range of metrics to gauge their success in retaining their workforce. This article explores these employee retention metrics. We’ll look at key metrics to track, as well as calculations, best practices, case studies, and more. What are Employee Retention Metrics?

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Metrics Hiring Software Retention and Turnover Assessment Software 105

6Q

JUNE 4, 2023

It’s a key metric used to indicate the effectiveness of your organisation’s overall management. Employee turnover can either be voluntary (like when an employee resigns, retires, or transfers) or involuntary (like terminating an employee due to poor performance or as part of company wide layoffs).

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Retention and Turnover Hiring Software Onboarding Software HR Planning 98

15Five

JANUARY 23, 2024

Key Metrics for Calculating Turnover To calculate a simple turnover rate, you only need two figures: Employee departures: The number of employees that left within the period you’re calculating for. Bureau of Labor Statistics is a great resource for benchmarking. Constantly replacing employees can be a drain on resources.

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Retention and Turnover Hiring Software How To Onboarding Software 211

Bonusly

APRIL 10, 2019

Turnover is a key HR metric and tends to be understood by leadership as a serious risk. Combining retention data with other relevant metrics will help identify relationships that may explain why turnover is an issue and give clues as to how to address it. Lightweight tools like Excel are often enough to track metrics and chart trends.

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Retention and Turnover Hiring Software Interview Software Onboarding Software 61

Decusoft

MARCH 19, 2021

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? What is executive compensation ? Base salary.

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Compensation Bonuses and Incentives Metrics Exercises 98

Analytics in HR

AUGUST 3, 2023

Also, if multiple experienced employees are eligible for retirement or resign at the same time, it may create a skills gap. Common reasons for leaving include low compensation, poor work-life balance, lack of recognition or career development, poor management, and a hostile work environment. Attrition rate in relation to turnover rate.

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Hiring Software Planning Tools Recruiting Software HR Software 71

Astron Solutions

OCTOBER 1, 2019

Increased concerns regarding the apparent high level of executive total compensation relative to the mission of the not-for-profit, as well as greater publication of not-for-profit executive compensation levels, have put pressure on Boards and their compensation committees. What Drives Nonprofit Executive Compensation?

Compensation 8

Compensation Bonuses and Incentives Trends Retirement 8

HRsoft

SEPTEMBER 28, 2023

One area that often receives less attention than it deserves is compensation management. Manual compensation processes can be time-consuming, error-prone, and inefficient, leading to frustration among employees and HR professionals alike. In this article, we will explore several compensation processes that can and should be automated.

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Compensation Planning Tools HR Software Bonuses and Incentives 59

HR Digest

NOVEMBER 9, 2023

As 2023 draws to a close and companies begin to settle on the wages and hikes for the next year, the question of how to create an equitable compensation system might flash in everyone’s mind—if briefly. The Mercer QuickPulse US Compensation Planning Survey of August 2023 found that employers are planning a 3.9 percent of the U.S.

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Hiring Software Planning Tools Assessment Software Recruiting Software 52

HR Daily Advisor

JULY 30, 2015

To successfully meet demands in this area, you need to partner early; otherwise, there will be an impossible plan that demands nearly immediate hiring of scarce applicants without adequate compensation. This could be from routine actions like retirement, or it could be losses of key players of any tenure. Retirements.

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HR Planning Recruiting Software Planning Tools Recruitment 40

Analytics in HR

JULY 26, 2022

Headcount report usually has information on every employee relating to: Job status (active or inactive) Job title Schedule status (part-time, full-time, contract) Time in role / tenure Salary Exemption status (exempt or non-exempt from receiving OT pay) Age Gender Ethnicity Education level Location Retirement age Veteran status.

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HR Planning Planning Tools HR Software Hiring Software 127

Analytics in HR

DECEMBER 8, 2023

As explored in our HR Metrics & Dashboarding Certificate Program , the goal of strategic workforce planning is to have a workforce with the right size, shape, cost, and agility. From this cumulative data, you can calculate, analyze, and report on HR metrics. It is conducted by HR but led by business and HR leaders.

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Workforce Planning Planning Tools Hiring Software Assessment Software 78

Decusoft

APRIL 23, 2021

What is a compensation system ? A compensation package , also known as a “ total compensation plan ,” includes all of a company’s pay structure elements, such as wages, salaries, benefits, and total payout terms. Performance management – total compensation strategies for top talent retention .

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Planning Tools Recruiting Software Interview Software HR Software 98

Recruiters Lineup

APRIL 1, 2024

It’s essential for candidates to conduct research on salary benchmarks and industry standards to negotiate effectively. Setting Expectations: Clear communication of job expectations, performance metrics, and goals is essential. Taxable income includes salaries, wages, bonuses, and other forms of compensation.

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HRExecutive

FEBRUARY 13, 2024

But in order to be actionable for organizations, benchmarking data—whether about turnover or anything else—needs to be interpreted as part of a broader ecosystem. Find the organizations that most closely match your own to ensure that you are comparing “apples-to-apples” as much as possible in your benchmarking.

Data 94

Data Retention and Turnover Hiring Software Human Capital Management 94

Astron Solutions

JANUARY 3, 2023

From the pandemic to the Great Resignation to today’s continued economic turbulence, organizations have had to rethink what the world of work looks like, especially when it comes to compensation. Let’s take a look at what is currently going on in the realm of compensation. Here are some things to keep in mind.

Compensation 52

Compensation Trends Bonuses and Incentives Wage and Hour Training 52

Payactiv

MARCH 1, 2022

How are you measuring success, and do you have the correct KPIs and benchmarks in place? In the past, hourly workers often missed out on the perks that come standard with full-time roles, such as disability and life insurance, dental and vision coverage, retirement funding, paid time off and sick leave, and educational aid.

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Recruiting Software Hiring Software Recruitment Strategy 52

Analytics in HR

SEPTEMBER 10, 2019

Unfortunately, many companies still base their talent plans on unreliable sources and methods such as using country retirement age instead of actual retirement age data, outdated benchmarks, and financial headcount budgets with no historical trends or link to business strategy, and sadly, gut feel.

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Workforce Planning Planning Tools Analytics Hiring Software 40

Talentia

MARCH 27, 2024

Read on to discover four ways to promote pay equity and fair compensation for your team. Analyzing compensation allows your organization to start with a more precise, ongoing picture, creating a better environment in which to make future pay decisions without causing new inequalities.

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Assessment Software HR Software Planning Tools Bonuses and Incentives 52

Heyyy HR!

JANUARY 3, 2024

They also play a key role in areas like compensation and benefits administration, ensuring employees are rewarded fairly and in line with industry standards. Compensation and Benefits Administration As an HR manager, it is vital to have an effective compensation and benefits administration strategy.

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HR Planning HR Software Hiring Software Onboarding Software 78

Xoxoday

SEPTEMBER 27, 2023

These bonuses are typically tied to specific performance metrics or achievements, such as meeting sales targets, exceeding project goals, or surpassing customer satisfaction benchmarks. Performance bonuses Performance bonuses are a common and effective way to reward employees for their outstanding work.

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Planning Tools Bonuses and Incentives Compliance Training Certification 52

15Five

JANUARY 18, 2024

But tracking, managing, and lowering this metric isn’t as simple as it seems. I feel like we’re constantly losing people”) into hard facts you can compare to industry benchmarks (e.g. Not only can replacing an employee cost 33% of their annual salary , but watching people leave constantly can tank morale for everyone else.

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Hiring Software Retention and Turnover Onboarding Software HR Software 188