A Full Guide to Compensation and Benefits

Digital HR Tech

Compensation and benefits refer to the benefits a firm provides to its employees in exchange for their labor. Compensation and benefits are thus a key part of Human Resource Management. In this article, we will provide you with a full guide about compensation and benefits.

The Compensation and Benefits Manager – A Full Guide

Digital HR Tech

The compensation and benefits manager plays a key role in coordinating the corporate compensation and benefits department. We dive into the core responsibilities of the compensation and benefits manager, take a look at his/her salary, and finish up with an example job description.

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Compensation Terminology 101

HR Daily Advisor

Like other professionals, compensation professionals can throw around a bunch of terms and acronyms that may or may not make a lot of sense to those not in the field. With that in mind, here’s a short overview of compensation terms that are sometimes confused with one another.

How to structure employee compensation

Workable

Pay structures define employee compensation for different jobs or groups of jobs. Here’s our guide on why and how to set up a pay structure: Why you need structured employee compensation. Determine the form of your employee compensation structure.

Cafe Classic: Solving the Dilemma of Pay Progression Over Time

Compensation Cafe

Compensation administrators merely need to determine how long the average nominal incumbent holds that job title in order to plan their progression schedule to match the mathematical mandate of those parameters. Base Salaries compa-ratio pay competitiveness pay progression

How to Use Compensation Analytics to Tell a Story

Compensation Today

This is a lesson from our forthcoming ecourse on compensation analytics, and builds on our previous post on how to dig into comp analytics for specific questions. Learn More About Our Compensation Software. Compensation Plans Uncategorized compensation analytics

How to Dig Into Compensation Analytics to Answer Specific Questions

Compensation Today

This is a lesson from our forthcoming ecourse on compensation analytics, and builds on our previous post on five comp analytics to track. In the last lesson, we overviewed five compensation analytics that help track whether your organization is moving in the direction you’re targeting.

PayScale's Compensation Glossary: Part 3 of 4

Compensation Today

Jenni Marquez, CCP, PayScale Compensation Professional Wow! Can you believe it that we’re half way through our 4-Part Comp Glossary bringing you closer to ‘comp’lete mastery of the compensation language?!

PayScale's Compensation Glossary: Part 3 of 4

Compensation Today

Jenni Marquez, CCP, PayScale Compensation Professional Wow! Can you believe it that we’re half way through our 4-Part Comp Glossary bringing you closer to ‘comp’lete mastery of the compensation language?!

Are Your Compensation Policies Helping or Hurting You?

Visier

Whether or not these compensation policies are helping employee retention, boosting productivity, or otherwise making the best use of your compensation budget is a mystery. . The post Are Your Compensation Policies Helping or Hurting You?

5 Ways to Promote More Gender Equity in the Workplace

Visier

Google is the latest company to come under fire for allegedly paying female employees less than their male counterparts , but the tech giant has refused to disclose compensation information to Department of Labor (DoL) investigators. HR Leadership compensation gender diversity

5 Ways to Promote More Gender Equity in the Workplace

Visier

Google is the latest company to come under fire for allegedly paying female employees less than their male counterparts , but the tech giant has refused to disclose compensation information to Department of Labor (DoL) investigators. Talent Management compensation gender diversity

Merit Pay's Fatal Flaw

Compensation Cafe

Your compa-ratio is 80%. After three years your pay is now $90, and your new compa-ratio is 83.6%. compa-ratio will likely have you starting the new job similarly low in your new salary range. Base Salaries Compensation Philosophy

Lights! Camera! Action!!

Compensation Cafe

I once worked for a CEO who thought that any compensation proposal could be reduced to a single piece of paper, including plenty of white. “If Compa-ratios (comparison of pay to a salary range midpoint). Low compa-ratios that indicate you're not paying your salary ranges.

Recap of HR Technology Conference 2019

Visier

In this environment, we use Visier to monitor our ‘consistent stars’, to understand them in these dimensions: 1) Time Since Promotion, 2) Compa Ratio, 3) Career Path. Just like that, another HR Technology Conference has come and gone.

Today is Equal Pay Day: Can HR Technology Help Close the Gender Pay Gap?

SumTotal

For example, HR can play a role in articulating and initiating policies in recruitment, compensation and other functional areas to ensure equal roles receive equal pay, anti-discrimination and increase diversity in terms of fair representation of different groups of people.”.

Walking Up a Descending Escalator & Other Crazy Pay Policies

Compensation Cafe

After many years in the compensation profession, I remain completely befuddled at the idiotic policies still blindly followed as “best practices” when they are merely popular mistakes continually repeated by a majority.

How to Update Aging Salary Data for Your Organization’s Jobs

HR Daily Advisor

You can add columns for compa-ratio and range penetration, if you’d like to track that metric as well. Depending your organization’s compensation philosophy, not to mention your current pay rates, using the 25th or 75th percentile as the midpoint may be a better fit for your organization.

Help Managers Play the Game: Give Them the Right Equipment

Compensation Today

As a product manager, one of my favorite activities is hopping on calls with our customers to talk about all things compensation. It has been fascinating to have an opportunity to connect with managers within organizations to get their perspective about how compensation affects their role.

To Lead, to Lag, or to Roll the Dice

Compensation Cafe

More than a few times I've stood in front of a podium, either ruminating over the intricacies of Compensation Management with practitioners and business leaders, or trying to instruct HR Generalists so that those who didn't give a hoot about Compensation could pass a SHRM certification test.

Let's Recognize Customer-Facing Jobs

Compensation Cafe

Or is this skill set (interface with customers) a compensable factor at all? . Chuck Csizmar CCP is founder and Principal of CMC Compensation Group, providing global compensation consulting services to a wide variety of industries and non-profit organizations.

Thinking about Strategy for the New Year

Compensation Cafe

Examples include survey results, skill sets, LOS in current jobs, compa-ratios and more that will provide insights into how ready employees (and HR) will be to evolve to achieve your goal. Base Salaries Compensation Philosophy Competencies Incentives/Bonuses Total Rewards

Cafe Classic: Time for Spring Cleaning?

Compensation Cafe

And, as Margaret O'Hanlon explains, it's also a good time to clean the cobwebs and accumulated dust from your compensation programs. Maybe it's because the lighting in most offices is far from warm, but the impulse doesn't seem to be as common in Compensation departments.

The Forgotten Employee

Compensation Cafe

1) Ensure that these positions are regularly surveyed for competitive pay practices, and then 2) Create a metric that segments the actual pay of your customer-facing employees to determine the average compa-ratio and spotlight the presence of low paid workers.

Are You In A State Of Denial?

Compensation Cafe

Is your compa-ratio competitive? Chuck Csizmar CCP is founder and Principal of CMC Compensation Group, providing global compensation consulting services to a wide variety of industries and non-profit organizations. Chuck is a broad based subject matter expert with a specialty in international and expatriate compensation. Compensation Communication Compensation Philosophy Competencies

The Pay Business is the People Business

TalentCulture

Pay is not compa-ratios —it’s Karen from accounting, wondering how she will pay her skyrocketing rent—when she just got passed over for an expected raise. At PayScale we keep this notion central in all that we do to support companies in doing Modern Compensation.

Workforce Planners: 4 Steps to Improving Profit Margins for Services

Visier

To inform this assumption, you can look at past compensation data and assess compensation changes for junior and senior staff in similar roles in the past. Since junior staff often start at the lower end of the compa ratio, their increases are often larger.

COMPAS 269

A Horse Of A Different Color

Compensation Cafe

For example, if you find your average compa-ratio to be skirting 80%, and your market pricing study indicates base salaries are an average -10% to market, blindly advocating what everyone else is doing for midpoint adjustments and merit spend percentages may not be an appropriate strategy for you.

The New Workforce Gender Equity Factors HR Needs to Watch

Visier

Gender equity is an issue of incredible focus and debate for employers and lawmakers, particularly when it comes to compensation. Establishing an equitable pay policy is an important step forward, but the gender pay gap is more than a compensation issue.

COMPAS 238

Cafe Classic: Increases as a Percentage of Job Value

Compensation Cafe

People who have been historically generously compensated for many years by hefty guaranteed base rates have no right to an infinite entitlement to the largest increases. . It has been extremely successful when used; yet many compensation professionals are unaware of the method. .

The Pay Business Is The People Business

SuccessFactors

Pay is not compa-ratios —it’s Karen from accounting, wondering how she will pay her skyrocketing rent—when she just got passed over for an expected raise. At PayScale we keep this notion central in all that we do to support companies in doing Modern Compensation.

The 100 HR Indicators Every Manager Needs to Know

EmployeeConnect

Compa-ratio: the comparison of an employee’s wage in relation to the median value on an organisation’s pay scale. #11 Human Capital ROI : the profit before tax for every dollar invested in wages and social compensations.

Who Wants to be Paid The Minimum Rate?

Compensation Cafe

Chuck Csizmar CCP is founder and Principal of CMC Compensation Group, providing global compensation consulting services to a wide variety of industries and non-profit organizations. Did anybody raise their hand? Of course not; no one wants to be paid at the minimum rate of anything.

Cafe Classic: How to Be Both Transparent and Secretive at the Same Time

Compensation Cafe

You can distribute well-crafted, multi-colored and detailed total compensation statements that include such helpful information as an employee's pay grade, salary range and current compa-ratio. Editor's Note: In the Classic post, we toast (roast?)

Compference16 Recap: Communicating Comp, Transparency, and a Stranger Things Joke

Compensation Today

I love being around ‘my people’ nerding out on compensation and proudly letting my comp flag fly. Who doesn’t love getting a little weird on free wine with other like-minded nerds who get more impassioned about range penetration & compa-ratio’s with each glass of chardonnay? 'I