article thumbnail

4 compensation strategies to respond to rising minimum wages

HRExecutive

As employers strive to remain both compliant and competitive, experts say, they need to conduct a comprehensive evaluation of their compensation strategy and ensure it is rooted in a strong pay philosophy. Once the evaluation process is completed, employers can consider these four compensation tactics, Dunn says.

article thumbnail

Report: HR Trends 2024 – Navigating the Future of Work

Extensis

AI-powered programs can also find skill gaps and patterns of bias in promotion and compensation, helping to create a fair and diverse culture. Business leaders should also focus on overall compensation and consider providing mental health support , enhanced parental leave, learning stipends, flexible work arrangements, and more.

HR Trends 102
Insiders

Sign Up for our Newsletter

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

article thumbnail

5 Common HR Issues for Small Businesses and How to Solve Them

Extensis

Leverage outside help : If you aren’t sure your team has the bandwidth to manage the above suggestion, consider an HR outsourcing partner that can provide access to a range of vetted tools. Issue #4: Change management The world is changing quickly, and businesses must adapt just as swiftly if they want to achieve maximum success.

article thumbnail

From Compliance to Talent Management: The 15 Essential HR Responsibilities

Analytics in HR

These strategies may include recruitment and selection processes, employee development and training initiatives, and compensation and benefits programs. HR also designs performance management systems that support strategic goals.

article thumbnail

What Is Human Resources?

Analytics in HR

As a function, HR covers the processes, practices, and strategies to attract, develop, and retain employees who contribute to the company’s overall success. HR is vital in aligning the organization’s business objectives and employees’ needs and aspirations. Let’s take a look at some common HR roles.

article thumbnail

21 Highest-Paying HR Jobs in 2023

Analytics in HR

Employee engagement : Implement programs to enhance employee satisfaction and overall well-being. Change management: Implement change management strategies and build an agile workforce. They can propose HR policy changes and recommend HR best practices to support the company’s goals.

article thumbnail

Employee Compensation: Hazard Pay, Leave and Employee Satisfaction

Flimp Communications

Employee satisfaction is an area taking a bit of a hit. Several industries have workers striking (or threatening to strike) over working conditions, employee compensation and leave or healthcare benefits. HR and company leadership should always be upfront and honest about employee compensation.