Cafe Classic: Re-Thinking Compensation At Professional Services Firms

Compensation Cafe

Editor's Note: As pay transparency and equity concerns draw ever more attention, it's interesting to revisit Stephanie Thomas's Classic post about black-box models of compensation and their fit, to the unique world of professional service firm partnerships or.

Hiring a Compensation Consultant: 7 Steps for Nonprofits

Astron Solutions

Your nonprofit organization might find that it needs some outside guidance around compensation for any number of reasons. For these organizations, hiring a nonprofit compensation consultant is the best choice. Nonprofit compensation consulting services FAQ. Compensation

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Tips for Developing a Powerful Compensation Philosophy

HRsoft

A compensation philosophy aims to ensure pay is market-competitive and aligned to the business strategy. To support these two factors, there are six components, or goals, of compensation philosophy: Attract top talent from the market. Compensation Philosophy Examples.

The Basic Components (and Pitfalls) of a Total Compensation Statement

HR Daily Advisor

Many employers are beginning to present total compensation statements (also known as total reward statements) as a means of showing employees how the organization is investing in them. A total compensation statement may include:/p>. Compensation benefits business HR PTO

Cafe Classic: Are Skill Shortages An Opportunity for Recruiting and Compensation to Converge?

Compensation Cafe

Consider a Classic lesson on how labor force analytics can build a bridget between recruiting and compensation to solve skill shortage problems.

PayScale Tools for Today's Comp Pro! Compensation Glossary: Part 2 of 4

Compensation Today

Jenni Marquez, CCP, PayScale Compensation Professional PayScale’s Comp Glossary returns! We’ve compiled a list of fundamental compensation terms and why they’re important to know. 3) COMPENSABLE FACTORS Definition: The details about a job that influence how the job is paid.

How the Changing Business Landscape has Created a Need for Human Resource Management Software

HRsoft

Compensation planning and total rewards structures make up a huge portion of HR’s responsibilities, so it’s important to select software that facilitates ease-of-use, such as strategic yet simplified tools and automated functions.

Santa, Where Do Best Practices Come From?

Compensation Cafe

Much as we like to believe that our compensation processes are objective, even numbers have a way of being influenced by human nature. In my experience, in-house compensation staff have the hardest time with the last two actions on the list.

Dinosaurs are Alive and Well

Compensation Cafe

Just the other day I sat in a meeting where a highly placed manager was complaining about the pending introduction of a new compensation plan. We need more training for managers as well as employees.” Compensation Communication Compensation Philosophy

Deepen Your Value to Your Company

Compensation Cafe

Do you want to become famous in your company for: (pick one or more) Competitive compensation knowledge, talent acquisition, strategic insight, leadership? Start by learning all you can about your organization and about our field's innovative compensation practices, but don't stop there.

Setting the Stage to Become Their Strategic Partner

Compensation Cafe

It's really tough, especially in smaller companies, where the executives just want to tell you what to do, especially about compensation. When you run into this, it's a sign that your execs see compensation mainly as a budgetary issue. Create an FAQ on compensation surveys and share it.

Assessing Salary Competitiveness: Market Survey 101

HR Daily Advisor

Answering this question depends in part on what data are available to you and whether or not the available information will be useful for comparison. Apples-to-Apples Comparison. When doing your comparison, be sure you understand the way the data are presented in the survey.

The 100 HR Indicators Every Manager Needs to Know

EmployeeConnect

Training & Development #7. 6 – Training & Development Indicators Average number of training hours per employee Training Investment per Employee: how much is spent on employee development per employee.

A Practical Guide to Market Pricing

HR Daily Advisor

Compensation planning can be a very time consuming task. You need to have a documented compensation philosophy/strategy to maintain consistent and compliant pay practices. Compensation Planning pay SPHR survey wages

Expert Q&A: Understanding the DOL’s Overtime Rules

HR Digest

Six discussions were held, and it was decided that the present compensation for overtime was inadequate. One qualifies for the Highly Compensated Employees (HCE) category now if one earns $107,414 per annum instead of $100,000.

ADP 51

Managing Pay Equity in the Workplace

HR Daily Advisor

De Leon explained that the jobs compared must be equal, and that comparisons should not be based just on job titles and general responsibilities; instead, courts will generally look at the details of the jobs to see if they’re equal. Compensation De Leon EPA litigation wages

Self-Regard: Warts & All

Workplace Psychology

64]), the famine voice (there never is & never will be enough), the comparison voice (compares everything with what others have), the envy voice (being jealous you don’t have what others have), and the bad luck voice (everyone else gets good luck, except you).

Nonprofits: It's Time to Improve Your Total Rewards ROI

Compensation Cafe

Yet many of my nonprofit compensation clients have invited me to Total Reward discussions because they feel that they could be doing better in a number of employment areas. Are you acting like everything you do in compensation is communication?

It’s Everyone’s Job to Care About Job Descriptions

Ultimate Software

This post was commissioned by Ultimate Software and the author has or will receive compensation for their work. We know that JDs help us determine market salary comparisons. by Kate Bischoff.

Continue Planning Your Salary Strategies: Don’t Forget Compressions, Job Descriptions, and More

HR Daily Advisor

Today, Letke looks at additional considerations as you set out your compensation philosophy and strategy. Use job descriptions for comparisons to benchmark jobs. HR.BLR.com is your one-stop solution for all your HR compliance and training needs.

What is a Job Analysis?

HR Daily Advisor

An assessment should also be made as to the qualifications required to do the job in terms of knowledge or skills, personality characteristics, and any required training or certifications. Compensation analysis. Job Descriptions Bridget Miller business Compensation job descriptions

How Does CPI Relate to Wage Increases?

HR Daily Advisor

Specify the benchmark date so that you have a point of comparison. She’s been working in the corporate world for over 15 years, with experience across multiple diverse departments including HR, sales, marketing, IT, commercial development, and training.

Prepare Now for Upcoming FLSA Exemption Changes

HR Daily Advisor

If any employees will be moving to nonexempt status, create systems for time tracking and create training on how to use those systems and to keep them accurate. This will allow a more accurate comparison against the guidelines in the future.

Paid Leave: Coming to a Jurisdiction Near You?

HR Daily Advisor

Compensation rate. If you decide to modify an existing policy, consider the following, she says: Conduct a side-by-side comparison of your policy vs. local or state paid leave law. Don’t Forget Training! Note: Supervisor training!].

Employee Turnover is Highest in January: How to Keep Critical Employees from Leaving

Visier

It’s not uncommon in a single organization for turnover to be calculated a number of different ways — meaning there is a lack of ability for meaningful comparison across the organization. This is the time of year when employers need to be proactive with their employee retention strategies.

Want to Become an Expert in PayScale’s Insight Product? You Can — at #Compference17

Compensation Today

You use Insight to price and track jobs and stay ahead of the curve in compensation. And why is using crowdsourced data to inform compensation decisions one of the most powerful ways to hire, engage and retain great talent? Create a strong compensation foundation?

Understanding the Employee Engagement Survey Provider Landscape: A Guide to the 6 Vendor Types -

DecisionWise

Most companies use them to survey employees on topics such as current benefit offerings or training programs. The service typically includes a standard employee survey with little or no customization, templated reports, benchmarking comparisons, and prescribed recommendations.

The Power Of Holistic HCM

Analytics in HR

Compensation. Each employee’s talent profile needs to show learning achievements, certifications and compliance status as well as performance, 360 feedback and compensation. Succession plans must leverage performance and learning data to allow objective comparisons of nominees.

ADP 76

How To Reduce Employee Turnover with Workforce Analytics

Visier

Surprisingly (perhaps), it is not uncommon in a single organization for turnover to be calculated a number of different ways — meaning there is a lack of ability for meaningful comparison across the organization. Training Impact on Performance and Promotions.

HR Jobs Are Changing– And So Are Their Salaries

Select Software Reviews

Comparison of “New HR” and “Old HR” Salaries Chief Human Resources Officer vs. Chief People Officer Average CPO Salary: $147,228 Average CHRO Salary: $117,762 The CPO and CHRO are the top executives of their human resources teams. HR has evolved immensely over the past decade.

CHRO 68

How Hiring Mistakes Can Actually Improve Your Small Business

Spark Hire

You are just starting to figure things out such as the staff you need, the roles each individual will play in the business, along with making sure that your compensation program is competitive in the industry. Hiring mistakes give us the ability to develop clear training expectations.

Massachusetts Takes a Giant Leap Towards Fair Pay

Compensation Today

Education, training, or experience. Audit your compensation practices to determine if you have any inequities to resolve. PayScale developed the Gender Pay Comparison feature to help employers do just that. 2016 is the year of pay equity.

Point Factor Job Evaluation Concisely Summarized

Compensation Cafe

Numeric points are accumulated across a number of evaluation factor dimensions with both scalar and interval values and are applied to administer compensation. Warning! This is an advanced Point Factor Job Evaluation briefing. Proceed at your own risk.

Understanding the Employee Engagement Survey Provider Landscape: A Guide to the 6 Vendor Types - DecisionWise

DecisionWise

Most companies use them to survey employees on topics such as current benefit offerings or training programs. The service typically includes a standard employee survey with little or no customization, templated reports, benchmarking comparisons, and prescribed recommendations. They offer many additional services including help with mergers and acquisitions, compensation plans, workforce planning, and benefits structuring.

How To Reduce Employee Turnover with Workforce Analytics

Visier

Surprisingly (perhaps), it is not uncommon in a single organization for turnover to be calculated a number of different ways — meaning there is a lack of ability for meaningful comparison across the organization. Training Impact on Performance and Promotions.