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PayScale Tools for Today's Comp Pro! Compensation Glossary: Part 1 of 4

Compensation Today

Jenni Marquez, CCP, PayScale Compensation Professional Even the most seasoned HR professional might take a big gulp if approached by their CEO to take charge of anything comp. That’s because, despite being part of the HR department, compensation is like the cool kid at a party. PayScale has you covered in our new, 4-part Comp Glossary. Today’s Lesson: A Little Comp 101 Consider the comp pros at PayScale to be an extension of your team!

Boese: 3 HR technologies that can help employers struggling to hire

HRExecutive

While the reasons for the imbalance between labor demand (open jobs) and labor supply (people willing to take those open jobs) are many and complex, I’m curious about the role HR technologies could play in helping balance supply and demand, and consequently, place more people in open roles.

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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! Consider the comp pros at PayScale to be an extension of your team! We’ve compiled a list of fundamental compensation terms and why they’re important to know. Why it matters: Often misunderstood but a very critical part of evaluating compensation is the benchmark job. 3) COMPENSABLE FACTORS Definition: The details about a job that influence how the job is paid.

Surprising Statistics May Shape 2017 Compensation Programs

HR Daily Advisor

The pursuit of the right talent continues to be highly competitive and, according to the latest research from PayScale, that pursuit is shaping compensation programs and strategies. In fact, PayScale’s 2017 Compensation Best Practices Report (CBPR) reveals a shift in strategy, as well as a gap between the perceptions of employees and employers with regard to pay. Compensation practices are increasingly being used as a way to cement relationships with employees.

Overcoming the Hot Job Challenge

Compensation Today

For example, a company might manufacture electronic devices offline, sell those devices online, and offer other retailers a white-labeled version of their advanced e-commerce platform as a software-as-a-service. Manufacturing, commerce, and cloud-based technology all fused together under one corporate brand. Job offers might be declined because they were based on insufficient compensation data. Get the Solution Brief now. .

Don't Miss this Summer's Hottest Compensation Events

Compensation Today

Taylor, CPC, PHR, SHRM-CP, PayScale Senior Blogger The summer months are just about to kick off and with the warmer weather comes new and exciting industry events. Each year, hundreds of thousands of organizational leaders, human resource practitioners, and compensation managers head for conferences and expos to learn about the latest in technology, best practices, and legal updates. Tess C.

You're Underpaying. Now What?

Compensation Today

Jenni Marquez, CCP, PayScale Compensation Professional Most organizations don’t intend to pay employees low, but market shifts and legislation changes can often result in underpaid employees. As an HR practitioner, especially one involved in compensation, it’s important to keep an eye on your compliance with wage laws in your area. Market should be the industry, company size, and location where you compete for talent. I repeat— where you compete for talent.

3 Compensation Strategies for Your Remote Workforce

Linkedin Talent Blog

In this quickly evolving environment, it’s a question that affects not only the existing workforce, but also the companies that continue to recruit and hire new talent. Compensation packages based on geography aren’t new. The company has roughly three compensation zones within the U.S.,

Compensation Management: Salary Benchmarking and Beyond

Zenefits

Many small businesses assume they don’t need to worry about compensation management. There are several salary comparison tools to help aggregate data for specific roles. Indeed also provides a free tool for salary comparisons. Other tools like PayScale, Salary.com, and LinkedIn Salary require a subscription or payment to access data but contain a larger number of job titles and data sets. This process is called compensation benchmarking.

Turnover Problems in Sales? The Issue is Recruitment, Not Pay

HR Daily Advisor

The company hired Sibson to review their compensation plans in order to determine how to adjust compensation to retain and attract the right sales talent. But the analysis of 2 years’ worth of sales rep data showed that compensation wasn’t the problem. Start with PayScale’s (free!) complete guide to compensation plans, Bring Back the Sizzle: PayScale’s Guide to Comp Plans That Get Workers Fired Up (In a Good Way). PayScale, Inc.,

When You Need to Move Beyond Data for Pay Decisions

Compensation Today

We live, love and dream about data here at PayScale, and big data is driving business and pay decisions across industries and functions. But when it comes to data-based decision-making, there a few occasions when decisions about pay and compensation need to go beyond the data. Here are some examples: You Compete With a Different Location, Industry or Company Size for Talent. Learn More About Our Compensation Software. Data, data, data.

Building Salary Ranges for Beginners, Part 1

Compensation Today

By Jenni Marquez, CCP, PayScale Compensation Professional “What’s the typical salary range for an administrative assistant?” Here at PayScale, we work with a lot of companies who are trying to determine typical salary ranges for their jobs. As an HR Professional, it is your job to identify when a compensation plan is needed and, more importantly, to educate your leadership team that creating pay ranges is good for the business.

HR Big Data Continues to Float to the Cloud

Compensation Today

Taylor, PHR, SHRM-CP, PayScale Senior Blogger PayScale’s 2015 Compensation Best Practices Report indicates that HR technology will become hugely important in the coming years. But, with all this use of technology, how well is the average human resource professional handling an increasing amount of organizational big data? We’ve come a long way in just a short period of time, with powerful cloud compensation applications that focus on results-driven campaigns.

How to Turn Pay Secrecy Obstacles Into Pay Transparency Opportunities

ExactHire

It gave me pause because while, especially as a female with a recruiting/HR background, I have never consciously been a part of a decision to underpay a new hire, what if my peers and I have unintentionally perpetuated pay inequity simply because I’ve been privy to applicants’ salary history in the past? Opportunity – Efficiency through technology. Take tech software giant, Salesforce, for example. I’ve been thinking about the impact of snap decisions a lot lately.

Why Increasing Pay Isn’t Always the Answer

Compensation Today

Sonnet Lauberth, PayScale Compensation Professional In my time as a Compensation Professional at PayScale, I’ve helped over 75 organizations develop a co mpensation strategy and structure to suit their needs and spoke with hundreds of companies about the challenges they face regarding compensation. Time and time again, the top two challenges I hear are that they don’t have a compensation structure in place and/or they have employees who feel they are underpaid.

The Free Trap: Why Free Data Isn't All It's Cracked Up To Be

Compensation Today

Kari Van Hoof, CCP, PayScale Compensation Professional The internet is a great and wondrous thing, where with just a few key word searches, you can find anything and everything, including pay data. But is typing “software engineer salary” into your search engine and then using the information you find really the best way to figure out what to pay for your jobs? Has it been collected from employees, employers, recruiters or job postings?

CBPR Top 10: What Comptopians Do Differently

Compensation Today

Mykkah Herner, MA, CCP, Modern Compensation Evangelist, PayScale PayScale’s 2016 Compensation Best Practices Report is here! One of your most helpful tools is a Total Comp Statement, or Total Rewards Statement, which details the cost of all the benefits and compensation you pay out to your employees. If you want to compete in a rapidly changing global economy, you have to pay more for your hot jobs and your top talent.

Managing Comp during High Growth Phases

Compensation Today

Mykkah Herner, MA, CCP, Modern Compensation Evangelist, PayScale When organizations get into high growth phase, everything starts moving faster. Recruiting speeds up. Compensation is another thing you have to get right as you scale quickly. Your plan should include: Philosophy – Overall, what is your organization trying to accomplish with its compensation dollars? What markets do you compete with for talent?

5 Mistakes You May Be Making That Are Impacting Your Talent Pipeline

Compensation Today

By Sonnet Lauberth, PayScale Compensation Professional Today’s business leaders know that talent is critical to an organization’s current and future success. As a Compensation Professional, my job is to help organizations create a compensation plan that reflects their business goals, mission, and organizational culture. If you’re currently seeing a shortage in your talent pipeline, then it might be time to review your compensation strategy.

Why retaining employees is now even more important than retaining customers

Compensation Today

According to PayScale’s 2015 Compensation Best Practices Report , 63 percent of employers consider retention a top priority. When the turnover is voluntary, recruiting, onboarding, and training costs are a given. Formulate a solution at the beginning of the problem instead of waiting until folks are leaving. Read more about the good, the bad, and the ugly of turnover in PayScale’s FREE whitepaper Jessica Miller-Merrell, blogging4jobs How do you retain customers?

Equality, Diversity, and the Gender Pay Gap in Tech: 5 Suggestions to Help You Pay Fairly

Compensation Today

By Sonnet Lauberth, PayScale Compensation Professional, As a Compensation Professional, I work with a variety of companies in the technology industry. To combat this, many companies are becoming more strategic with their compensation practices overall and aiming to exceed the market for key positions like software developers. The data found that when we control for all factors that influence compensation outside of gender (i.e.

How to Become a Chief Human Resources Officer: What You Need to Know

Analytics in HR

The future of HR is rapidly evolving as technology does, which means that the core role of the Chief Human Resources Officer is changing too. This requires a unique mix of competencies, education, and experience. Chief Human Resources Officer competencies.

The Free Trap: Why Free Data Isn't All It's Cracked Up To Be

Compensation Today

Kari Van Hoof, CCP, PayScale Compensation Professional The internet is a great and wondrous thing, where with just a few key word searches, you can find anything and everything, including pay data. But is typing “software engineer salary” into your search engine and then using the information you find really the best way to figure out what to pay for your jobs? Has it been collected from employees, employers, recruiters or job postings?

How to Become an HR Generalist [A Practical Guide]

Analytics in HR

They are usually in charge of the day-to-day management of HR activities in an organization, including hiring, compensation and benefits, HR administration, and other tasks. Work on your technological competence.

Hiring the Wrong Salesperson is a $2-Million Mistake

HR Daily Advisor

Start with PayScale’s (free!) complete guide to compensation plans, Bring Back the Sizzle: PayScale’s Guide to Comp Plans That Get Workers Fired Up (In a Good Way). Those salespeople are successful because they act on gut; they “shoot, fire, aim” and hire someone before they have thought through what the person will do and how the person will integrate into the system.

HR Business Partner Job Description: What You Should Know

Analytics in HR

However, there are some typical responsibilities and competencies, and qualifications requirements that we will discuss to help you understand what the HRBP role looks like. HR Business Partners should be able to use technology to increase efficiency and drive business results.

How to Hire Data Scientists When It Seems Like There Are None to Hire

Entelo

Since then the need for data scientists has skyrocketed but the supply has not, which puts recruiters in the delightful position of having to compete with more and more recruiters for a dwindling supply of talent. According to Payscale , the median salary of a data analyst is $55,000 while the median salary of a data scientist is $93,000. Big Data Recruiting Interviewing

Organizational Commitment: 7 Ways HR Can Contribute

Digital HR Tech

The central goal here is to improve an organization’s effectiveness and its ability to compete in its industry. Today, the most widely accepted tool to measure organizational commitment is a 24 item questionnaire by Alan and Meyer (1990).

HR Tech Weekly: Episode #217: Stacey Harris and John Sumser

HR Examiner

Hosts Stacey Harris and John Sumser discuss important news and topics in recruiting and HR technology. Google brings on former SAP Executive Robert Enslin, BeameryHQ Expands Leadership Team, Payscale Get Growth Investment, Limeade Launches Platform, and textio Launches New Writing Tool. Topics: ESW, Cloud, Compensation, Engagement, and Recruiting. Payscale Get Growth Investment Link ». Limeade Launches Platform Link ».

“Gender Roles in Childhood.”, with Sheila Ronning and Candice Georgiadis

Thrive Global

During these formative years, it is crucial for parents to support their daughters and provide them with the knowledge that they are suited to work in any field, especially science, technology, engineering, and mathematics (STEM) — the industries that tend to employ the least amount of women.