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What is Compensation Management?

Zenefits

One of the main benefits of a good compensation management system is pay equity, but there are ample other benefits, like aiding in budget creation, attracting recruits, reducing turnover, and more. What is compensation management? Compensation managers are an important asset to the company’s success.

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HR vs. Payroll: What’s the Difference?

Zenefits

Calculate and send any employee reimbursements, bonuses, and holiday pay. Applying raises, bonuses, and extra incentives. Once a person does well at work, they may be eligible for additional financial compensation. Zenefits integrates with many tools in the accounting, finance, and retirement spaces.

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Is Your Compensation Fair? How to Create a Compensation Plan That Works for Everyone

Zenefits

The Society for Human Resource Management discovered that compensation and pay is the second-most contributor to job satisfaction. This means that company compensation packages, benefits and all, matter more than ever. Employees are increasingly looking for fair compensation. What is fair compensation?

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What’s the Best Way to Get Bonuses to Remote Employees?

Zenefits

Remote employee bonuses, in particular, can seem tricky. And how can you send these bonuses to workers who live in other states and other countries in some cases? Bonuses are a form of compensation that you give to employees in addition to their set wages. You can give bonuses to new hires also, as signing bonuses.

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Compensation Philosophy: The “Why” Behind the Paystub

Zenefits

A compensation philosophy is an integral part of what makes a business tick. Expectations have changed, and competitive compensation has a vital role to play. In the current climate, employers are particularly dependent on salary survey data to determine what kind of compensation package to offer job candidates.

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Should You Hire a Certified Compensation Professional?

Zenefits

Assuring staff is compensated fairly, aligned with skills, experience, and market conditions, and that payroll drives your strategic plan forward is critical to business success. For many organizations, compensation is an afterthought. What is a certified compensation professional? . Coursework includes: Job analysis.

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Are Your Salaries Scaring Away Applicants? How to Use Salary Market Data to Tell

Zenefits

The answer could also be that they aren’t using market data to help them devise a sound compensation strategy. Salary market data helps companies understand: What their competitors are paying. Where can I find salary market data for free? You can get salary market data for free on sites like Indeed and Glassdoor.

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