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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. Contents What are compensation and benefits? Why are compensation and benefits important? What are compensation and benefits? Why are compensation and benefits important?

HR Moments Matter: 3 Compensation Challenges Solved With People Analytics

Visier

In this post, Allison McConville, Visier’s VP of Human Resources , will shares how you can use data to support the people moments that matter, enabling the best compensation decisions for both your employees and your organization. . Managing Compensation Costs.

HR Moments Matter: 3 Compensation Challenges Solved With People Analytics

Visier

In this series, Allison McConville, Visier’s VP of Human Resources , will share how you can use data to support the people moments that matter, enabling the best decisions for both your employees and your organization. In this post, Allison talks about Compensation. Compensation is one of the key culture-definers for organizations. I constantly seek out data for the insights that support the multi-faceted conversations I’m part of and programs we’re planning for.

How to structure employee compensation

Workable

Pay structures define employee compensation for different jobs or groups of jobs. They involve setting salary ranges and pay grades based on market data and job roles. Here’s our guide on why and how to set up a pay structure: Why you need structured employee compensation. Pay structures (also know as salary structures or compensation structures) help companies offer equitable, competitive salaries and map out employees’ path to growth and higher pay.

How to Create an Equitable Compensation Program

Trainual

This includes equitable compensation. . And by looking at compensation as an opportunity for generational wealth accumulation through a historical policy lens, it is clear why. But it does so by discriminating against low-income and minority areas – and actively denying black Americans access to better housing opportunities. Creating an equitable compensation program. As you build out your compensation and benefits philosophy, think beyond cash compensation.

?OFCCP Proposes to Collect Detailed Applicant- and Employee-Level Transaction and Compensation Data in 503 and VEVRAA Focused Reviews

Biddle Consulting

Yesterday OFCCP Director Craig Leen and ODEP Deputy Assistant Secretary Jennifer Sheehy participated in a National Industry Liaison Group (NILG) webinar entitled, “OFCCP and ODEP: Section 503 Compliance & Focused Reviews.” Director Leen stated during the webinar that OFCCP intends to “look at” contractors’ hiring, promotion, termination, and compensation data for evidence of potential discrimination against individuals with disabilities.

EEO-1 Component 2 Pay Data Analysis

Biddle Consulting

Despite resistance from the employer community, EEO-1 “Component 2” compensation reporting requirements will most likely be upheld by federal courts. External Pay Equity: The OFCCP will measure pay equity between companies; specifically, they will compare a company’s EEO-1 Pay Data against others in the relevant business sector. Kruskal-Wallis test will be used to measure pay equity for race where more than two groups are compared.

EEOC Would Collect Pay Data from W-2s Under New Proposal

HRWatchdog

In a significant departure from existing requirements, the Equal Employment Opportunity Commission (EEOC) recently announced that it is seeking to require large employers to report pay data to the agency, including aggregate information from employee W-2s. The EEOC is proposing to revise the federal EEO-1 report to include collecting pay data from employers with more than 100 employees. Compensation Discrimination EEOC fair pay

Data 57

Cafe Classic: Could Big Data Bring Big Dilemmas?

Compensation Cafe

Editor's Note: Data and analytics are big topics - and big priorities - in a lot of HR shops these days. As we in HR work to absorb and apply the possibilities that data and analytics present for the design and administration of employee pay, we often look to our peers in Marketing - always several steps ahead of us in this game - for lessons and insights. Specifically, the degree to which Big Data may be creating a new potential and power to discriminate.

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Meaningful Work Tops Company Culture, Compensation, and Perks as Workers’ #1 Must-Have in New Global Employee Survey

WorkHuman

One of the survey’s most important findings is that workers across all age groups rank meaningful work as the most important aspect of their career, beating out positive company culture, compensation and perks, a supportive manager, and a fun team. Younger employees (ages 18-24) are more likely to rank a supportive manager as the second most important aspect of their career, while workers 35 and older are more likely to rank compensation and perks second to meaningful work.

Taking a ‘Lean In’ View of Compensation for Women

Reviewsnap

It’s a perspective that bears serious consideration by anyone responsible for compensation management. The argument is especially intriguing for those involved in compensation management in light of recent studies that do in fact conclude that most of the male-female pay gap results from the career decisions women make rather than compensation policies. Be sure you link compensation with performance across the board to motivate and reward the most successful behaviors.

Why Is Pregnancy Such a Touchy Subject In Employee Wellness Health Assessments?

TLNT: The Business of HR

It’s a topic employers generally avoid, since the Pregnancy Discrimination Act of 1978 prohibited sex discrimination on the basis of pregnancy. Similar queries are posed in health risk assessments offered by other wellness programs, say consumer groups, including the National Women’s Law Center. The EEOC’s proposed rules define what those programs must do to meet the requirements of the Americans with Disabilities Act (ADA ), a law aimed at preventing discrimination.

Diversity, Inclusion and The Workplace

HR Counselor's Corner

Inclusion refers to the behaviors and social normal that guarantees that people feel welcome and a part of the group. A recent study by the Boston Consulting Group (BCG) has found that diversity increases the bottom line for companies. By Nancy Owen, PHR, Senior HR Consultant.

Business Group Says New EEO-1 is ‘Useless’

HR Daily Advisor

Compensation data that employers may have to provide the federal government next year will not help combat pay discrimination as intended, according to the nation’s largest business group. Olson told lawmakers at a recent hearing that that “while the Chamber strongly supports equal pay for equal work, the revised EEO-1 form will not promote equal pay because the data being collected on that form, at enormous costs, is useless for that purpose.”.

EEOC Proposes Using EEO-1 Report to Collect Pay Data

HR Daily Advisor

Department of Labor recently published a proposal to revise the EEO-1 reporting form in order to annually collect summary pay data by gender, race, and ethnicity from businesses with 100 or more employees. The proposed revision would require the employers with 100 or more employees to submit an annual report on pay data as part of EEO-1 reporting, beginning in September 2017. The pay data would be grouped in 12 pay bands, at the same pay intervals the U.S.

Justify a Job Offer’s Salary with Data

Visier - Talent Acquisition

Candidates are approaching job offer negotiations with unprecedented levels of insight and confidence: The US unemployment rate has reached a historic low, and individuals now have instant access to compensation data via websites like Glassdoor and Salary.com. Emotionally-driven salary decisions can also generate legal and reputational risks associated with pay discrimination. Justifying Pay: External Data is Not Enough. Using Data to Drive Up Offer Acceptance Rates.

Gender Pay Gap and People Analytics: A Practice with Open Data

Littal Shemer

Gender Pay Gap and People Analytics: A Practice with Open Data. However, one issue remained unsolved for years: The lack of open HR data to practice on. Although there are many inspiring case studies of People Analytics, obviously, organizations don’t share their people data for the sake of learning. Simulation-based data may be an alternative, though usually it is oversimplified and lacks real or interesting patterns to explore. . A Practice with Open Data.

EEOC issues 2017 enforcement plan: 6 areas it’s targeting next

HR Morning

The EEOC will focus on weeding out recruiting and hiring practices that discriminate against classes of individuals based on protected characteristics — race, ethnicity, religion, age, disability, etc. And for the first time, the EEOC will be looking at big data’s impact on the hiring practices of, predominantly, technology companies. Protecting Vulnerable Workers, Including Immigrant and Migrant Workers, and Underserved Communities from Discrimination.

What Is a Reward? (Part III): The Right Employees

Compensation Cafe

This answer-seeking needn’t become a full-blown compensation or reward strategy but does need to be a consistent and transparent approach to providing rewards that you can get behind. Chuck is a broad-based subject matter expert with a specialty in international and expatriate compensation.

Business Groups to White House: Block New EEO-1 Pay Reporting Requirements

HR Daily Advisor

Both business groups and Republican lawmakers have in recent days urged the White House to block the U.S. Equal Employment Opportunity Commission’s (EEOC) new EEO-1 compensation reporting requirements. Beginning in March 2018, private employers with at least 100 employees (and some federal contractors) will have to include compensation information on their EEO-1 filings. But starting with the EEO-1 report including 2017 data, the period will be October 1 to December 31.

5 ways to fight age and gender discrimination in the workplace

Workable

On 24 January 2019, in Boston, Workable hosted a panel discussion titled Diversity in Gender & Age: The Career Challenges Faced by Women at All Ages , to talk about the specific challenges at the intersection of age and gender discrimination in the workplace. You don’t even know you’re doing it, but you’re bearing all this extra work, and you’re not compensated for it, you’re not really recognized for it. Related content: Anti-discrimination policy template.

English-Only Policies Are Presumptively Unlawful Under New FEHA Regs

HR Daily Advisor

According to data from the U.S. Attempts to restrict the language spoken by employees during nonworking time may be construed as sufficient control over them to make the time compensable. Discrimination Because of Accents and English Proficiency also Targeted.

5 ways to fight age and gender discrimination in the workplace

Workable

On 24 January 2019, in Boston, Workable hosted a panel discussion titled Diversity in Gender & Age: The Career Challenges Faced by Women at All Ages , to talk about the specific challenges at the intersection of age and gender discrimination in the workplace. You don’t even know you’re doing it, but you’re bearing all this extra work, and you’re not compensated for it, you’re not really recognized for it. Related content: Anti-discrimination policy template.

4 Ways HR Analytics Can Improve Workplace Diversity

Cornerstone On Demand

population growth is attributed to ethnic groups and 36 percent of the workforce is comprised of people of color, only 21 minorities (that's right—21, not 21 percent) are Fortune 500 CEOs. In the next 10 to 30 years, census data says that there will be no racial or ethnic majority in the United States. Page , groups of diverse problem solvers outperform groups of high-ability problem solvers. Eliminating Workforce Discrimination with Big Data.

A federal judge put the kibosh on Philly’s salary-history ban. Well, not really.

The Employer Handbook

But, they came back with even more business groups to take a second bite at the apple. Judge Goldberg didn’t grant the business groups all of the relief that they sought. ” And the judge denied the business groups’ request for an injunction. Therefore, if an employer asks about wage history, which is legal, but then relies upon that wage history to set the employee’s compensation, that would violate the law. Image Credit: Pixabay.com ([link].

A federal judge put the kibosh on Philly’s salary-history ban. Well, not really.

The Employer Handbook

But, they came back with even more business groups to take a second bite at the apple. Judge Goldberg didn’t grant the business groups all of the relief that they sought. ” And the judge denied the business groups’ request for an injunction. Therefore, if an employer asks about wage history, which is legal, but then relies upon that wage history to set the employee’s compensation, that would violate the law. Image Credit: Pixabay.com ([link].

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

SumTotal

In the UK, it is the day when based on data about average pay, women overall stop being paid compared to men. Gender pay gap reporting is based on hourly wage, and therefore, numbers of hours worked does not impact the data. Merle Chen , Chief Talent Officer, The Lo & Behold Group. Specifically, HR technologies that provide an employer with meaningful insight into how it is both compensating and promoting its employees.

Are Your Variable Pay Practices Factoring into the Gender Pay Gap?

HR Daily Advisor

But Ryan says that even with your good intentions, there’s an area of your organization’s pay practices you’re not paying attention to that may be contributing to inequity in your employees’ total compensation—and that’s variable pay. Why Is Total Compensation Important? The study examined how compensation patterns for each gender varied by average base salary and average annual bonus, Yildirmaz explained. total compensation).

Does the Ratio of CEO to Employee Pay Really Matter?

TLNT: The Business of HR

Unions, investors, and other groups have increasingly been using this disparity to attack companies. CEO pay in 2014 was an eye-popping 373 times that of an average worker, according to data compiled by the AFL-CIO, and a sharp rise from 331 times in 2013. What role does compensation play in employee success and satisfaction? Compensation & Benefits HR Insights HR Management HR News HR Trends Wages, Pay, & Salary FeaturedBy Howard Mavity.

25 HR Compliance Terms to Know for 2018

ClearCompany HRM

Intended to remedy the effects of past discrimination or underutilization of women and minorities. Equal Employment Opportunity Commission (EEOC): This agency is responsible for enforcing federal laws that make it illegal to discriminate against a job applicant or employee because of the person’s race, color, religion, sex (pregnancy, gender identity and sexual orientation), national origin, age, disability or genetic information.

Building an Anti-Racist Workplace Culture

EverFi - HR

In the first blog in our ongoing series, I posed the question of whether our culture encourage leaders to “be right” or “be effective” as they seek out ways to reduce harassment and discrimination in their organizations. While this story often elicits a moan from listeners, it’s amazing that organizations adopt the same strategy when dealing with harassment and discrimination challenges. High-level organizational demographic data, The most recent compensation distribution analysis.

Build an Anti-Racist Workplace Culture

EverFi - HR

In the first blog in our ongoing series, I posed the question of whether our culture encourage leaders to “be right” or “be effective” as they seek out ways to reduce harassment and discrimination in their organizations. While this story often elicits a moan from listeners, it’s amazing that organizations adopt the same strategy when dealing with harassment and discrimination challenges. High-level organizational demographic data, The most recent compensation distribution analysis.

Tracking employee health metrics: Great idea or big mistake?

Insperity

Some experts contend this data may boost a company’s bottom line , and many insurance providers are promising lower health care premiums in exchange for it. But even though your company has the best of intentions, it’s prudent to weigh carefully the pitfalls and the challenges of tracking health data. For businesses that sponsor a group health plan , one of the main arguments for collecting employees’ health information centers on lowering insurance costs.

The Pay Business is the People Business

TalentCulture

Too many compensation managers and compensation programs gloss over the fact that they exist to serve the business in attracting and retaining people. In this world of knowledge-driven work and innovation, where companies’ competitive advantage is primarily determined by who can win in making their organization a place where the best people want to be, a compensation program that works needs to embrace this idea. Defend your pay decisions with data.

Cafe Classic: The Age-Earnings Relationship Is Not What You Think

Compensation Cafe

Even though I probably don't need to convince you of this, here are some statistics on labor force participation rates by age group for the years 2000 and 2009: Among people between the ages of 55 and 65, the labor force participation rate has increased 5 percent. You'll also note a decrease in labor force participation rates among the 16 to 24 age group - we'll hope it's because more of them are taking advantage of educational opportunities!) It's not all about cash compensation.

Fishing for Facts about Pay Inequity

Compensation Cafe

Friday brought another bombshell about pay to gladden the hearts of compensation people looking for more work. President Obama announced a widened executive action initiative to gather facts about pay discrimination based on gender, race and ethnicity. Data will be analyzed for disparate protected class treatment in similar jobs, as summarized in each EEO-1 occupational class. . beyond being an additional task for compensation people.

The Pay Business Is The People Business

SuccessFactors

Too many compensation managers and compensation programs gloss over the fact that they exist to serve the business in attracting and retaining people. In this world of knowledge-driven work and innovation, where companies’ competitive advantage is primarily determined by who can win in making their organization a place where the best people want to be, a compensation program that works needs to embrace this idea. Defend your pay decisions with data.

Use 'The Interruption Strategy' to Tackle the Diversity Gap

Cornerstone On Demand

population will soon be more diverse than ever: Census data suggests there will be no ethnic majority in the next 10 to 30 years. " There are many emerging strategies to increase diversity and eliminate bias in organizations — including several focused on using big data to tackle the problem. Let's take a look at one such data-based method: the "Interruption Strategy." Fact: Minorities are still largely underrepresented in the United States workforce.

How to Build High-Performing Diverse Teams at Work

Achievers - Recruiting

A “more woke society” is calling for an end to discrimination in the workplace. Institutionalize diversity metrics, such as aiming to increase the percentage of new hires that should come from underrepresented groups. Create your own anti-discrimination and equal opportunity policies.

The most common employee documents used at trial

Business Management Daily

It is recommended to keep employee contracts for at least seven years, disability and sick benefit information for four years, and group and employee insurance records for six years. Equal Employment Opportunity (EEO) and civil rights laws are in place to prevent employment discrimination. EEO data should be kept for each position filled at your company. Employee discrimination suits are some of the most commonly filed lawsuits against employers.