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What Is Human Resources?

Analytics in HR

Through workforce planning, talent management, succession planning, and applying other HR best practices , HR professionals ensure that the organization has the required talent to keep operating and meet its long-term goals. Rewards include salary, perks, and benefits like health insurance, remote work, and performance-based bonuses.

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Compensation Planning in 7 Actionable Steps

Analytics in HR

Different types of compensation include base pay, company bonuses, stock options, and benefits like insurance, pension programs, and parental leave. In the so-called war on talent, employee compensation plays an integral part in how you attract and retain talent in your company. It can also include bonuses and tips.

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How the Right Referral Program Can Get Candidates to ‘Yes’

Linkedin Talent Blog

And make sure to communicate clearly and consistently about the program, particularly its incentives. Most companies offer referral bonuses contingent upon a hire or upon the referral staying with the company for a specific amount of time. Final thoughts Employees who reach out to their network can help you grow your talent pool.

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10 Employee Incentive Programs to Engage Your Team

Achievers

Incentives give employees something to strive for and provide tangible acknowledgement of their great work. When an incentive is offered, 85 percent of workers feel more motivated to do their best. If you’re interested in discovering the most impactful employee incentive programs available for your organization, read on.

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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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Merit Talks: Tis the Season

Compensation Today

Market data for the job, possibly information about the selected talent market. Performance goals and metrics, including how they support organizational objectives. Remember that employees are people and try not to shy away from talking about their experience overall at the organization. TalkPay Click To Tweet.

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Pay transparency: the pros, the cons, and best practices

Workable

A PayScale study finds workers are five times as likely to be satisfied with their employer when they understand the reasoning behind their salary versus getting the compensation they want and need from a job. In other words, when performance-laden incentives (and base pay, in general) are made public, a common denominator is determined.