article thumbnail

10 vital HR metrics to track for your business

Business Management Daily

Human resources analytics, a relatively new discipline, is growing at an extraordinary rate and is quickly becoming an essential competency for HR professionals, according to Dr. Michele Rigolizzo, an assistant professor at the Feliciano School of Business at Montclair State University. Which hiring metrics are most important to track?

COMPAS 59
article thumbnail

11 more startups compete in Pitchfest round 2

HRExecutive

These solutions are among the 33 new technologies competing at this year’s conference. an executive coaching, outplacement and leadership training firm, and Compa, a talent acquisition compensation analytics tool, advanced from that round. Consult.), Related: 2021 Pitchfest kicks off at HR Tech.

Insiders

Sign Up for our Newsletter

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

article thumbnail

Employee Compensation: Everything you Need to Know

Astron Solutions

As an HR leader for your organization, you know that employee compensation is not just something you determine when you hire a new team member and then forget about. In fact, the performance rating taken in tandem with an employee’s compa-ratio reveals a fuller picture. What is Compa-ratio? 875 x 100 = 87.5% 958 x 100 = 95.8%

COMPAS 59
article thumbnail

7 Compensation Issues and How to Fix Them

Analytics in HR

Tracking metrics like compa ratio and salary range penetration will also help you spot employee compensation issues when they arise and allow you to rectify them as soon as possible. Considering competency-based pay. If you are a smaller team, you should hire experts or involve consultants to ensure everything is in order.

article thumbnail

Cafe Classic: Personal Pay Versus Salary Structures

Compensation Cafe

Churn occurs among grade peers due to new hires, promotions, quits, retirements and reclassifications. New hires enter at lower rates. Veteran incumbents with proven competence must progress faster than their salary structure. You don't want folks stuck at the entry compa-ratio forever!

COMPAS 52
article thumbnail

Compensation and Benefits

Analytics in HR

This amount is negotiated during the hiring process and agreed upon before the employment contract begins. Every new hire should receive a clear report of their compensation package and know who to contact if they have any questions. It is typically an annual or monthly salary or an hourly rate.

article thumbnail

Why Internal Mobility is Key to Building a Diverse Workforce

Visier

In addition to boosting employee retention, this can also support a strategy of hiring from within the organization instead of competing on the open market for talent. “?An Companies now have to rethink their workforce and hiring strategies and instead invest in upskilling their workforce,” she states.

Diversity 377