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Modern Compensation Strategy Best Practices

Bonusly

No matter how large or small your business is or what industry you work in, chances are, you’ve thought about how best to determine compensation for your employees—especially if you are a company or HR leader. They may need some updating to align with the compensation best practices below.

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How to handle compensation during uncertain times

Insperity

When businesses go through a crisis resulting in abnormal (or interrupted) operations and significant economic challenges, many companies look to their compensation budgets as an obvious means of cutting costs. Creative compensation strategies for struggling businesses in crisis. Hiring freezes.

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PayParity Pay Equity Case Study: Mother Jones

Trusaic

Since it launched in 1976, Mother Jones has made an indelible mark as a leading progressive American magazine by focusing on news, commentary, and investigative journalism. Recently, employees requested a pay-parity audit to ensure the organization was compensating its workforce equitably across race and gender — and for good reason.

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How to address employee pay in your inclement weather policy

Insperity

Have you outlined and communicated company protocol when it comes to paying employees during a weather event? It’s important to communicate how payroll will work during a weather-related event, as well as emergency contact information and expectations for attendance. How will partial workdays be compensated?

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4 tips for effective change management 

PeopleStrategy

magazine recommends, avoid having your first message be “Here’s what’s happening, and here’s what you should think about it.” Don’t manage by email – have in-person events that show a commitment to managing change effectively. Here are four change management tips to embrace: 1.

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Human Resource Management Career: 15 Career Paths You Can Follow in HRM

Analytics in HR

While HRM will vary depending on the industry and size of the company, it generally involves recruitment, taking care of employees’ wellbeing, training and development, building a positive work culture, managing compensation benefits, and dealing with any employee grievances.

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Employee bonus programs: What’s right for your company?

Insperity

Agrees to pay an employee a pre-determined amount upon the occurrence of a specific event or date. Your employee bonus program must align with your company’s business strategy and goals, as well as your compensation policy. Retention bonus. Used to retain employees during transition periods to encourage them to stay.