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Types of Compensation: Everything HR Needs to Know

HR Lineup

HR professionals play a crucial role in benchmarking salaries against industry standards, ensuring internal equity, and addressing any pay disparities within the organization. HR professionals need to understand the intricacies of stock-based compensation, including vesting schedules, exercise prices, and tax implications.

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21 Highest-Paying HR Jobs in 2023

Analytics in HR

Market research and benchmarking: Research and analyze compensation trends to ensure the company’s compensation packages are competitive within the industry. Stock plan administration: Highly proficient in administering equity plans, including processing grants, exercises, releases, and cancellations.

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What is Voluntary Turnover? Definition, Causes, and Calculation

Analytics in HR

Voluntary turnover is an HR metric referring to an employee’s departure based on their own decision rather than the employer’s decision. But it is usually a costly exercise because it is often unexpected and can cause disruption in workflow. You can do this by measuring against industry benchmarks.

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Strategic Workforce Planning 101: Framework & Process

Analytics in HR

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. A simple workforce planning exercise like this can be useful to structure a complex process like talent management.

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11 Recruiting Strategies to Help Your Business Stand Out

Payactiv

How are you measuring success, and do you have the correct KPIs and benchmarks in place? As part of this exercise, speak to your hiring managers and employees at all levels of the organization – especially those who have been recently hired – to learn more about their thoughts and experiences. Recruitment Cycle Times.

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Fundamentals of Executive Compensation

Decusoft

After the 2008 recession, many companies began using executive compensation to discourage excessive risk-taking and instead placed more emphasis on benchmarks for performance rewards. . Compensation committees often chose specific metrics for the executive to follow that align closely with the board’s approved business plan.

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10 Best Employee Benefits Platforms to look out for in 2023

Vantage Circle

Benefits platforms also allow companies to centralize and automate the administration of employee benefits, such as health insurance, retirement plans, paid time off, and more. For example, some platforms allow for integrating different benefits, such as health insurance, retirement plans, and wellness programs.