What is Compensation Management?

Zenefits

Compensation management is the process of ensuring that an organization’s salaries and bonuses remain competitive, appropriate, and equitable. Compensation managers are responsible for working with employment data and keeping up with complex benefits administration rules and regulations. Wellness incentive programs, in particular, are having a major impact on employee compensation packages.” Data access is another important feature to consider.

How to Talk About Pay At Work

Zenefits

But the company has merit and incentive programs in place to reward the teams who are already here and keep their pay competitive too; Make them feel valued – Listen more than you talk; give them a space to share their frustrations; it might have nothing to do with pay after all; Follow-up with their manager – Let them know the conversation happened; encourage them to address any pay concerns that are legitimate through the merit process. Pay is a deeply personal issue for everyone.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Updated List of Cities and States with a Salary History Ban

Zenefits

Pew Research reported that in 2018, women earned 85 cents to every man’s dollar, up 5% from Census Bureau data of 2017. Another reports that bonuses and other forms of incentive pay add to the problem. Last yeah, Zenefits produced an equal pay report based on original SMB data, which found that the gender wage gap in small businesses was 18% greater than the national average.

When Creating the Perfect Compensation Plan Salary is Just the Beginning

Zenefits

These include wages, raises and incentives, wellness, tuition reimbursement, training allowances, retirement funding, stock options, meal plans, and more. Accessing wage data. The US Department of Labor publishes wage data by occupation annually. Factor in annual wage increases, incentives, or bonuses planned at the top of the range. The post When Creating the Perfect Compensation Plan Salary is Just the Beginning appeared first on Zenefits Blog.

4 Ways to Combat Declining Productivity in Your Workplace

Zenefits

However, before shopping for a plan, Hackett suggests reviewing your organization’s data for evidence of health-related declining productivity. Start by comparing employee claim data against drops in productivity. While there are many large companies offering full-service wellness packages, if your data points to just one or two issues, Hackett says a wellness consultant could be the answer. “A