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. What are the key skills you should be developing to become a Chief Human Resources Officer? Articles HR Upskilling

White House Announces PayScale Commitment to Largest-Ever Non-Compete Data Collection

Compensation Today

PayScale is thrilled to announce that we are launching a data collection effort, encouraged by the White House Council of Economic Advisers, in an effort to gain more understanding around the prevalence and impact of non-compete agreements in the U.S. The White House Council of Economic Advisers encourages #PayScale to gather data on #non-competes! PayScale will be working with a team of researchers to examine the resulting non-compete data.

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What COVID means to compensation

HRExecutive

This is the second in a series on compensation during the pandemic. The coronavirus pandemic has upended scores of traditional HR structures: hiring, recruiting, onboarding and compensation. Related: Will other employers follow Google’s latest remote plan?

PayScale's Compensation Glossary: Part 4 of 4

Compensation Today

Jenni Marquez, CCP, PayScale Compensation Professional Let’s review. If the external inequity is due to internal pay being higher than market, then you likely have a compensation budget problem. Why it matters: Compression is one of the more challenging issues in compensation. That said, paying new employees at the same rate (or higher) than incumbents can cause some real and ongoing compensation problems, including morale issues.

A Guide to Payscale Philosophy and Strategy With People Operations

Zenefits

As the workforce moves towards more freelance, contract, and part-time engagements, companies need to make sure they are compensating their employees in a way that meets today’s work style. Compensation is also a pivotal component of people operations.

Add PayScale’s Compference 2017 to Your HR Conference Schedule

Compensation Today

You have many choices when trying to decide where to best spend your time and money at an HR industry conference. In the HR field, there are several that rise to the top and specialize in fascinating topics like compensation planning, HRIS, innovation and disruption — depending upon what you want to learn more about. SHRM has been the predominant conference for HR professionals. Disrupt HR. Last, but not least, is PayScale’s Compference.

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!

Nuances of Nonprofit Compensation: 2017 Compensation Best Practices

Compensation Today

In a prior life, I did compensation and HR for a nonprofit. Anyone who has worked in a sales organization knows that you don’t compensate sales the way you do the rest of the organization, or medical staff the same as office staff, or faculty the same as staff. We have gathered compensation best practices from the more than 400 respondents to the PayScale Compensation Best Practices Report who are in the nonprofit industry.

2021 Was the Biggest Year Yet for HR Tech: See 30+ of the Top M&A Activities

Lighthouse

Last year one of our most popular posts on the blog was a recap of some of the 2020 M&A activities across the HR Tech landscape. We are increasing our global research this year as a result of some of these changes and due to the increasing pace of virtual work.

Become a Gold-Medal Compensation Expert: Train at Compference

Compensation Today

As HR and Compensation professionals, our professional development budgets are often the first to get cut, but if I’ve learned anything these past nail-biting days, it’s that training matters. As you consider your various training options, from online webinars, to classroom training, to reading every short blurb you can about pay-for-performance or talent or whatever it may be, let me make a quick plug for Compference , the modern compensation conference.

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.

Top 15 Compensation Management Tools in 2021

Vantage Circle

Companies consider several factors when deciding on a compensation planning tool. In layman’s terms, compensation management software allows an organization to plan and administer employee compensation packages in an organized manner. Payscale Marketpay.

Gazing Into the Crystal Ball: 2022 Salary Budget Predictions

Astron Solutions

2021 has been a year of surprises in administering employee compensation programs. Among the changes and challenges in 2021 are the following: These factors has led many to rethink past and current compensation strategies as we move into 2022.

A Quick And Simple Guide To Compensation Planning

Vantage Circle

As a leader, compensation planning is one of the skills you will need to master. One of the most important aspects of organizational planning is having a compensation plan that rewards employees and provides competitive pay. What is Compensation Planning?

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? Indirect compensation.

5 Steps to Creating An Effective Employee Compensation Strategy

Career Metis

Do you have any idea about the employee compensation strategy? And here, effective compensation can help. Therefore, getting an employee compensation strategy in the first place has become a crucial step. An Effective Compensation Management Strategy.

Secrets From a PayScale Insider: How to Get the Most Out of #Compference17

Compensation Today

To get you started on the right foot, here are my top recommendations: “Designing an Incentive Plan That Moves the Needle”. Begin your first day of Compference (Tuesday, October 3rd) by learning the secrets of creating the right incentive plan. During “ Designing an Incentive Plan That Moves the Needle ,” Brooke Birdsong , Director of Total Rewards at Associa, will share different incentive plan designs, as well as how to start building one that’s unique to your organization.

How to structure employee compensation

Workable

Pay structures define employee compensation for different jobs or groups of jobs. 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. Competitive compensation packages play an important part in persuading candidates to accept job offers.

The Role Compensation Plays in Values, Culture & Engagement Strategies

Decusoft

A complex, critical question that often plagues HR revolves around one of the core components of the employer-employee relationship: money. Getting compensation right can be tricky – that’s why businesses perform due diligence and conduct benchmarking surveys.

Developing a Compensation Plan, Step 1: Set Pay Philosophy

Compensation Today

This is a lesson from PayScale’s Modern Compensation Planning ecourse. By now, it’s well-accepted that a comprehensive, up-to-date compensation plan is a must for successful business. A tight talent market means organizations are focusing more than ever on strategies to retain and hire top employees, compensation being a big one. Unfortunately, putting together a strong compensation plan is no easy task. The 5 Elements of a Comp Plan.

PayScale Gender Report Reveals Female Software Engineers Get Paid 12% Less

Compensation Today

Taylor, PHR, The HR Writer Every employer says they want more female engineers, but the numbers tell a different story. The PayScale Women at Work survey indicates that less than 5 percent of all software architects are women. Source: Silicon Angle ) While Silicon Valley is stepping it up with women friendly perks, they seem to be missing one key element: equal salary. Get a PayScale demo now!

Why You Should Share Total Compensation Statements With Your Employees

Compensation Today

In the last few months I have worked with over a dozen companies rolling out their annual increase cycle in PayScale’s Crew. Last month when PayScale published the 2017 Compensation Best Practices Report (CBPR), research showed that 40 percent of all organizations provide total compensation statements. What Is a Total Compensation Statement? When HR teams ask me what they should share, I recommend sharing what is of most value to your employees.

7 Compensation Resolutions for 2017

Compensation Today

I like goals, plans, and measurable actions. These notions of resolving are ones that I think are both difficult and necessary, especially in the field of HR and compensation in particular. Without further ado, Compensation Resolutions 2017: seven ways to start the new year right! Check out these seven compensation #resolutions 2017! 1: Develop Regular Compensation Reporting. Get them familiar with a compensation dashboard view.

Share Your Compensation Thoughts Now to Win a Better Future and an iPad

Compensation Today

In 2027, both life and compensation could be very uncomplicated. In this future, a bionic person fetches your coffee, your car drives you around, and your compensation plan is both automated and powered by perfectly precise data. All you have to do now, in 2016, is start our Compensation Best Practices Report (CBPR) Survey and share your thoughts to make this future a reality. Help us make the future of compensation uncomplicated by taking the CBPR 2017 survey now.

Which Compensation Structure Is Right for Your Company?

Compensation Today

Compensation structures continue to evolve, and they usually do so to help organizations keep current with both market and workforce trends. Some may wonder what compensation structures are. Loosely, “compensation structure” refers to the various ways that companies can organize their pay practices. How have compensation structures developed? Grades and Ranges: today’s compensation structure. Learn More About Our Compensation Software.

Want a Better Culture? Set Compensation Strategy Accordingly

Compensation Today

HR leaders have long been hip to the value of organizational culture in accomplishing business success. At PayScale, we think the way you pay says a lot about you as an organization. Compensation should be a reflection of and an extension of your culture. In PayScale’s 2017 Compensation Best Practices Report (CBPR), we found that 57 percent of organizations agree that compensation is becoming more important to their executives.

Developing a Compensation Plan, Step 5: Create Policies and Processes

Compensation Today

This is a lesson from PayScale’s Modern Compensation Planning ecourse. Now that you’ve planned ahead , identified your talent markets and data sources , completed benchmarking and established pay ranges , it’s time to create the policies and processes that help ensure that your plan gets carried out as you’ve intended. What are the different types of compensation and which employees are eligible for which types? Results? Resources.

How to approach pay differences for employees doing remote work

Business Management Daily

A recent poll of HR managers suggests many companies are open to the idea of an anywhere workforce. A recent Willis Towers Watson survey found that 26% of companies say they would base compensation on location for remote workers. Compensation and Benefits People Management

How do we put a price on what our employees do at work?

Compensation Today

Economic recovery had resulted in sales growth and associated hiring, but competition was also fierce for an already limited labor pool. Multiple locations across the state, ranging from rural to metropolitan, added a level of complexity to compensation as part of a recruitment and retention strategy for HPM’s 300 employees. So the HR team, headed up by Jeracah Lawless, Director of HR, decided to undertake a project to make sure we were doing right by our employees.

Know When to Ask for Help With Your Compensation Project

Compensation Today

Every day, PayScale products and services help compensation and HR pros ideate, create, roll out and manage forward-thinking comp plans. With that in mind, we recently launched a new Support Center to help PayScale product users with key activities like benchmarking, running reports and utilizing structure and analytics tools. Feel like you're in over your head with compensation strategy? PayScale's new Support Center can help.

Diversity Considerations in Compensation: Part 1

Compensation Today

The big connection between diversity and compensation is fair pay. Paying fairly involves examining pay based on a number of key factors, and making sure that you’re being both compliant and consistent with your stated values, company culture and business goals.). One key piece of ensuring fair pay is having a compensation plan that outlines how you intend to pay people, and that keeps you in compliance and out of legal disputes.

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.

Diversity Considerations in Compensation: Part 2 – Workplace Currency, Manager Favoritism

Compensation Today

In our first diversity and compensation post , we covered how to identify and resolve inequities within your current compensation practices, as well as the pros and cons of a self-audit. Workplace currency” is a term we’ve coined at PayScale — much like the saying “money makes the world go round,” we see workplace currency as the grease in the wheels of the workplace. We (reasonably) expect to receive some sort of compensation in exchange for our efforts.

How to Become an HR Generalist [A Practical Guide]

Analytics in HR

An HR Generalist is usually the first HR hire of an organization and a crucial one at that. To work as an HR Generalist, you need to be able to handle a mix of administrative and strategic HR tasks. The question is: How do you become an HR Generalist?

What is a total compensation statement & how does it provide value?

Genesis HR Solutions

In an effort to show employees the true value of their compensation, benefits factored in, many employers are providing total compensation statements. What is a total compensation statement? A total compensation statement communicates the entire value of an employee’s compensation package, including wages, which they already see in pay stubs, along with the hidden cost of the benefits that employers provide. What’s included in a total compensation statement?

5 Ways to Handle Compensation Like a Top-Performing Company

HR Daily Advisor

There are several differences between how top-performing companies handle compensation and how typical companies approach the issue, according to the results of a recent survey. Top employers have strategies in place and keep up with market data, among other things, experts said during a recent Payscale webinar, How to Do Comp Like Top-Performing Companies. Top-performing companies reinforce culture with compensation, Herner said. Make a long-term plan.

Align Your Compensation Strategy with Business Priorities

Compensation Today

Taylor, PHR, SHRM-CP, PayScale Senior Blogger At the intersection of business objectives and recruitment is a strong compensation strategy. As we found in the 2015 Compensation Best Practices Report in about half of the companies we surveyed, the CEO is primarily responsible for setting compensation budgets, while the Head of HR is primarily responsible for setting compensation structures. Why not get a free salary report and try a PayScale demo today