Compensation Intersects with Management Recruiting

Compensation Cafe

One of the multiple hats I wear as a Compensation Consultant is working with executives in transition, helping prepare them for the employment offer so eagerly sought. Compensation : Thumbs up or thumbs down? What Compensation Does. Compensation Philosophy Competencies

Compensation Analysis: The Definitive 2022 Guide

Decusoft

Conducting compensation analysis is a lengthy, necessary project. Companies will want to ensure that their compensation packages remain in alignment with the market — otherwise, they risk losing staff to other businesses that offer higher salaries. . What Is a Compensation Analysis?

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Compensation Challenges for Family Businesses

Astron Solutions

Since employees are often related to each other, developing and maintaining fair & appropriate compensation plans can be difficult. In this Astronology® , we will review some compensation challenges that family-owned businesses face. Deferred compensation plans.

Who Cares About Compensation?

Compensation Cafe

What if you worked in an organization where the Head of Human Resources didn't view the Compensation function as vitally important to the organization? We weren't invited to critical HR planning sessions, my boss was never a member of the inner HR circle, and the department's list of annual objectives never included a compensation project. So What's Wrong With Compensation? It is unusual for this office holder to have cut their teeth in either Benefits or Compensation.

Compensation Dictionary

We’ve compiled a list of fundamental compensation terms and why they’re important to know. Think of this as your comp cheat sheet—terms you need to know to put you on the fast track to becoming that cool comp kid we know you can be. Sure, you’ve heard some of the terms before, but you have no idea what they mean. Not to worry! Download this eBook and you’ll be ‘comp’letely fluent in no time.

Cafe Classic: Compensation Practitioners Should Be Skeptical of Economic Forecasts

Compensation Cafe

Throughout her career, Stephanie has completed research on a variety of topics including wage determination, pay gaps and inequality, and performance-based compensation systems.

Compensation Packages That Drive Executive Performance

Professional Alternatives

It’s possible to inspire your executives to deliver excellent results, by ensuring that their compensation packages are properly aligned with the company’s strategy. Tips for Designing Compensation Packages.

A Guide to Compensation Analysis

Analytics in HR

Compensation analysis is vital to providing fair, equitable compensation. Smart organizations know that providing the right compensation is one of the key pillars to attract and retain the best talent. Contents What is a compensation analysis?

Equity Compensation is Worthless

Compensation Cafe

For more than three decades equity compensation has been considered a necessary and ubiquitous element of pay at start-ups and high-growth publicly traded companies. Large studies have shown again and again that most (85%) equity compensation recipients do not understand their awards.

How to Update Compensation Without Performance Ratings

Reflektive

But for many companies, removing ratings puts compensation into a black box — employees don’t know how their raises and bonuses will be decided, possibly undermining the goal of removing ratings. Here are some ways you can determine compensation without annual performance ratings. Employees who decide their own compensation are more invested in their company and have higher performance, according to Lisa White, CEO of White Andreetto.

Small Business Compensation Trends for 2018

We’ve developed a special edition of PayScale’s 2018 Compensation Best Practices Report (CBPR) specifically for small businesses. It covers everything from base and variable pay practices to competitive jobs, retention concerns and mergers & acquisitions.

Rethink bonuses as ‘Reward Compensation’

TLNT: The Business of HR

Bonuses Compensation Compensation & Benefits HR Insights Human Resources Pay Frequency Pay Increases & Raises Rewards Strategic HR Wages, Pay, & Salary FeaturedThe pandemic might be starting to wind down now, but the ‘Great Resignation’ is still very much in full swing.

The 5 Biggest Compensation Strategy Challenges for HR Leaders

15Five

With today’s competitive talent market compounded by economic factors like high inflation, people leaders face tremendous pressure to create a competitive compensation strategy. They also want fairness and equity, both in the way they’re treated and how they’re compensated. .

Should Compensation Be Tied to Performance Reviews?

15Five

Since feedback is hard to come by, separating compensation and focusing on performance during the review process is necessary. Should you tie compensation and performance reviews together? For nearly 60% of organizations, compensation and performance decisions are made simultaneously.

Growing a Healthy Compensation Program -- Part Two

Compensation Cafe

We'll identify some of their missteps -- common to companies their size -- then discuss what they can do to achieve healthy compensation habits. Case background: In the first article , we looked at the compensation habits of a company called Healthy Gadgets, a new medical device company that began with fewer than 100 employees. Common compensation practices when a company is growing quickly to at least 500 employees. This is the second article in a series. "If

The 2019 PayScale Wage Index

No matter your industry, it's crucial that you stay up to date on the current compensation trends. The PayScale Index will let you do just that - it tracks quarterly changes in total cash compensation for full-time, private industry employees in 19 job categories. Get the report today, and start taking advantage of these crucial insights.

Cafe Classic: The Break-Up - When Staffing and Compensation Practices Split

Compensation Cafe

Editor's Note: In this labor market, attracting and keeping the right talent depends on Staffing and Compensation working in sync. What can you do when your compensation survey data is wrong? The solution, of course, is to get staffing and compensation practices in alignment.

Demystifying Compensation with Data-Driven Total Rewards Statements

15Five

Attracting great talent has never been more competitive, with companies understandably wanting to provide the most enticing compensation packages possible. The challenge for HR teams is to find a better way to show employees and future employees a more complete picture of their compensation.

Types of Compensation: Explained

Darwinbox

In the world of HR, compensation is what companies provide their workers in exchange for their services, effort, skill, labor, time, and knowledge.

Pre-IPO Equity Compensation: Refresh or Change Course?

Compensation Cafe

It’s getting harder to know exactly what to do about equity compensation at pre-IPO companies. All of this is challenging long-used models for equity compensation. As a compensation professional, you have both a unique challenge and a unique opportunity.

Small Business Guide to Comp Benchmarking

To compete in today’s market, you must know what the market pays for certain skills so you can develop fair and competitive offers. Understanding the market, then determining guidelines for pay isn’t just a nice to have for today’s talent, it’s a must have.

Cafe Classic: The Compensation Cookbook

Compensation Cafe

Editor's Note: Here, for a little midweek fun, we bring you Jim Brennan and his long-awaited, utterly authoritative and instantly gratifying dictionary of compensation decisions. The Compensation Cookbook will solve all your problems. No compensation chef should be without this essential guide to serve up the ideal menu in your café, restaurant, or eatery .

Four Compensation Predictions for 2022

Compensation Cafe

I seldom make predictions for an upcoming year because compensation generally evolves so slowly that any real changes take several years to come to fruition. I think we have a unique opportunity in front of us and many compensation professionals will relish the challenge.

What Does a Competitive Compensation Plan Look Like Today?

Atrium

If you are asking yourself “what’s a competitive compensation package in today’s market?” AtriumAsks: “What’s Competitive Compensation in Today’s Market?” 5 Employee Motivators to Inspire More Competitive Compensation 1.

What Is Compensation? | Employer Guide

Patriot Software

If you have employees, you need to compensate them. And if you do, you need to know if those other wages count as compensation. Knowing what is compensation is a key part of putting […] READ MORE. So, you set an hourly rate or salary.

Charting Your Course Through Changing Regulations

Speaker: Bonnie Treichel, Senior Consultant & CCO, Multnomah Group

The world of work is changing. Today it is easier than ever to have employees in multiple cities across several states. Multistate offices used to be reserved for very large employers, but with today’s technology, even smaller employers can embrace this game changer. For employers, the multistate workforce allows the opportunity to cast a broader net to attract the best and brightest talent to the workplace. At the same time, it comes with challenges, including compliance with a variety of rules and regulations across different states and municipalities – some of which may conflict with federal law – and failure to comply could be quite costly.

Cafe Classic: The Compensation Cookbook

Compensation Cafe

Editor's Note: In today's post, Jim Brennan serves up his Classic tale of The Answer to our compensation design and practice challenges. . The Compensation Cookbook will solve all your problems. No compensation chef should be without this essential guide to serve up the ideal menu in your café, restaurant, or eatery . Past Compensation Editor of the Personnel Journal and last Senior Associate of pay surveyor ERI , he recently returned to consulting.

Streamline your Compensation Management Decisions with 15Five Compensation Powered by Partners

15Five

One of the biggest challenges facing Human Resource Managers these days is how to equitably and fairly make changes to compensation such as raises and bonuses. Say goodbye to your compensation worries and say hello to 15Five Compensation Powered by Partners! 15Five has partnered with two of the best-in-breed compensation management programs: SimplyMerit and HRSoft. SimplyMerit has grown from a compensation consulting firm into a full service SAAS offering.

Compensation Analyst: All You Need to Know About the Role

AIHR

In the competitive candidate market, organizations need to get their compensation strategy right. That’s why a compensation analyst is a fast-growing role and a career path worth considering. Let’s explore the role of a compensation analyst and how you can become one.

Compensation Conversation: Employee Experience

Decusoft

? ?. The post Compensation Conversation: Employee Experience appeared first on DecuSoft. Webinars

Compensation 101: A Beginner's Guide to Compensation Management

In a tight labor market it’s critical that you get compensation right. That’s why we created the ebook, Compensation 101: A Beginner's Guide to Compensation Management.

Beyond Compensation: How to REALLY Motivate Employees

Compensation Today

Jessica Miller-Merrell, blogging4jobs Although we know compensation is the number one reason people leave companies, pay isn’t the only factor in employee engagement. It won’t pull the best out of them, but without that foundation of adequate compensation, there’s not an effective way to build a motivation strategy. Pay meets the basic need, but what comes next? The truth is, there’s a science to motivation that really works and it’s backed by proven research and psychology.

3 Tips to Design a Transparent Non-profit Compensation Strategy

Compensation Today

Jessica Miller-Merrell, blogging4jobs PayScale reports that a more transparent compensation policy can support the recruitment and retention of employees at many non-profit organizations, especially in a growing multi-generational environment. It’s great to see organizations hiring again as we bounce back from the recession, but this increased competition for talent means nonprofits have to start thinking more strategically about their compensation budgets.

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. Lowering turnover , strengthening your recruitment strategies , and conducting custom sector surveys are all common reasons for nonprofits to hire a compensation consultant. For these organizations, hiring a nonprofit compensation consultant is the best choice. Here’s what we’ll cover: Steps for hiring a compensation consultant.

Compensation Planning in 7 Actionable Steps

Analytics in HR

Thorough compensation planning allows your organization to create compensation systems that reward employees fairly and support business goals. What exactly is compensation planning, what are its objectives, and how do you go about compensation planning in practice?

Compensation Strategies for Fast Growing Companies

Speaker: Rusty Lindquist, VP Strategic HR Insights at Bamboo HR & Mykkah Herner, Modern Comp Evangelist at PayScale

Compensation is a critical piece of the puzzle that you must get right as you scale quickly. Neglecting to think about compensation planning can cost you top talent, slow down recruiting, and create internal inequities down the line.

Compensation Managers Need to Manage

Compensation Cafe

I once supervised a strong performing technical compensation analyst who was eager to work his way into a management role. A long time ago, when I was a Compensation Analyst myself, I worked on a lot of spreadsheets and job evaluations.

Compensate Accordingly

HRO Today

The great opening up of offices remains a work in progress, and part of that process involves renegotiating compensation plans for remote or hybrid employees. Many managers and CEOs remain confused about how to navigate these new compensation waters.

Compensation Air Traffic Control

Compensation Cafe

The swirl of tasks and requests can make a compensation professional feel more like they work in air traffic control. Compensation can often seem pedestrian, but in times like this, your job may be similar. Dan is also a leading expert on incentive plans and equity compensation issues.

Cafe Classic: Compensation Philosophy Disconnected from your Staffing Strategy?

Compensation Cafe

Editor's Note: As the labor market heats up, unevenly as always, it's time to ensure that these two core talent strategies - compensation and staffing - are linked by a common understanding of what it takes to get the right people in place at your organization. A great question, one which shines a light on the critical connection between your compensation philosophy and your staffing strategy (really, your entire talent management strategy). Base Salaries Compensation Philosophy

2019 Compensation Best Practices Report

Following a record-year of job growth in 2018, employees now have the tools to research and evaluate employers, and feel empowered to make moves if they don't like what they find. Get the latest trends in compensation, and find out how your organization stacks up.