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How HR Software Can Boost Your Compensation Strategy

Paycor

The tools you still have at your disposal, like merit increases and bonuses, have a big role to play keeping your workforce productive and engaged. The challenge for HR leaders is getting out of the weeds of error-prone spreadsheets, repetitive data entry and time-consuming training sessions with managers. Drive Efficiencies.

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Today is Equal Pay Day: Can HR Technology Help Close the Gender Pay Gap?

SumTotal

In the UK, it is the day when based on data about average pay, women overall stop being paid compared to men. Gender pay gap reporting is based on hourly wage, and therefore, numbers of hours worked does not impact the data. HR can leverage such data to develop company standards around pay. What is Equal Pay Day? less than men.

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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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What is Compensation Management?

HRsoft

Compensation management is a specialized HR discipline that plans, administers, and communicates employees’ salary, incentives, and benefits. It is a critical element in talent management, as it affects recruiting, retention, and operating budgets. Its role is critical in attracting and retaining the best talent.