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.

Consider, Connect, Craft: 3 ways to improve compensation communication

Bersin with Deloitte

By leading the compensation conversation, you can help foster engagement and forge stronger relationships with your people. The days of squelching conversation about compensation are over. What can your organization do to better communicate about compensation?

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Rewarding Ambition: Determining Compensation Within Your OKR Process

15Five

One of the most common questions we get asked as leadership team coaches is how Objectives and Key Results (OKRs) should be used to determine salary, compensation, or bonuses. You’ve likely already heard that OKRs should not be tightly coupled with employees evaluation and compensation.

Cafe Classic: Rethinking Compensation Training

Compensation Cafe

Editor's Note: Is your manager training on compensation failing to get the job done? Here's a look at a few ways compensation training could become far more effective. The from-to path that compensation training addresses should be tailored accordingly.

Applied AI in Talent

AI is both disrupting and transforming everything about workforce management. For HR leaders, that means changing the types of skills and competencies companies need, changing the way existing employees do their jobs, and altering the recruiting landscape. This handbook looks at how AI is shaping the way we think about workforce planning and development at the highest levels.

Why Compensation Doesn’t Drive Motivation

Reflektive

But will the incentive of a higher salary or compensation bonus improve their work performance? While compensation is a factor in their employee experience, it doesn’t wield as much influence as you may think — a nuance especially important for companies using a pay for performance model. As Monique Valcour wrote in the Harvard Business Review , “How employees work from day to day has a bigger influence on their motivation than their compensation and benefits package.”.

Meet Namely: Michael Goldberg

Namely

When Michael is not sporting a chef’s apron, he’s busy serving up detailed equity and compensation plans and educating employees on Namely’s offerings. HR Meet NamelyMichael Goldberg is Namely’s new manager of total rewards.

Cafe Classic: The Truth About Great Compensation Design

Compensation Cafe

Today, we feature a Classic truth from Margaret O'Hanlon about what ultimately enables your compensation plans to achieve greatness. Instead of bemoaning the state of things, though, I want to point out aspects of their research that will help our compensation design.

Compensation Cafe: Employee Engagement and Incentives Compensation

RecognizeThis!

Last week on Compensation Cafe I blogged: “Is Employee Engagement Moot in Today’s High Stress Work Environments?” Bonus & Incentives Employee Engagement Social Recognition Strategic Recognition & Company Values WorkHuman compensation cafe incentives recognition

Washington policy update: June 2019 Benefits and Compensation Bulletin

Bersin with Deloitte

Here is a quick roundup of recent legislative and regulatory developments relating to employee benefits and compensation. Eliminate the provision that disqualifies multiple employer plans in which one employer fails to meet requirements.

Washington policy update: January 2020 Benefits and Compensation Bulletin

Bersin with Deloitte

Here’s a quick roundup of recent legislative and regulatory developments relating to employee benefits and compensation: Related links. The post Washington policy update: January 2020 Benefits and Compensation Bulletin appeared first on Capital H Blog.

The Compensation and Benefits Manager – A Full Guide

Digital HR Tech

The compensation and benefits manager plays a key role in coordinating the corporate compensation and benefits department. We dive into the core responsibilities of the compensation and benefits manager, take a look at his/her salary, and finish up with an example job description.

Washington policy update: October 2019 Benefits and Compensation Bulletin

Bersin with Deloitte

Here’s a quick roundup of recent legislative and regulatory developments relating to employee benefits and compensation. The post Washington policy update: October 2019 Benefits and Compensation Bulletin appeared first on Capital H Blog.

Obituary for Equity Compensation

Compensation Cafe

Stock Options, Restricted Stock Units, young Performance Units and their cousin Non-Qualified Deferred compensation tragically died in 2017 as an unintended consequence of colliding with the 429 page U.S. Executive Compensation Regulations & Public Policy Stock/Equity Compensation

Do Your Employees Understand Their Compensation Definition?

HRsoft

The ability to understand your company’s compensation definition, or the way pay is calculated, is important for employee satisfaction. The Modern Compensation Definition. Today, employers are becoming increasingly creative in the ways in which they compensate employees.

How to Meet the New Overtime Regulation Using People Analytics

Visier

In order to achieve this, HR must find an effective solution that will help them make the right compensation and workforce changes–while balancing the needs of the workers and the bottom-line. The post How to Meet the New Overtime Regulation Using People Analytics appeared first on Visier Inc.

3 Ways to Improve This Year's Compensation Communications

Compensation Cafe

The compensation communication cycle takes many weeks -- too long to be disconnected from your audiences. In the meantime, consider opening a hotline for managers during budgeting and merit meetings, to provide personal support when they run into tough spots.

What Does a Marketing Approach to Compensation Really Mean?

Compensation Cafe

How many times have you heard that compensation communications needs to take a marketing approach? Deeper understanding should make it possible to get better at your compensation communications. One of the mantras at Compensation Cafe is, "Compensation is Communication."

Washington policy update: August 2019 Benefits and Compensation Bulletin

Bersin with Deloitte

Only HRAs meeting the following requirements will be considered Excepted Benefit HRAs: The annual HRA contribution must be no more than $1,800 (adjusted for inflation beginning in 2021). Compensation and Rewards ACA benefits Excepted Benefits HRA health insurance HRA ICHRA

Does Your Compensation Solution Cover Contract Workers?

HRsoft

Compensation solutions use technology and automation to address some of the most complex compensation management challenges. Is your compensation solution equipped to handle pay for your entire workforce – contractors included? How a Compensation Solution Can Help.

Cafe Classic: What Compensation Can Learn From Marketing

Compensation Cafe

Editor's Note: There's a lot we can learn from other professional disciplines and their approach to meeting business needs. However, there’s another major business discipline HR/Compensation professionals can learn from: Marketing. . Compensation needs to do the same.

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. Determine the form of your employee compensation structure.

Cafe Classic: Global Compensation Philosophy - One Brand, 31 Flavors

Compensation Cafe

Editor's Note: What better to warm our hearts in January than a global compensation strategy informed by an ice cream brand analogy. These programs allow better alignment with current rules and an easier path for making modifications to meet future changes.

Compensation: The Gap in Communicating Company Culture

Everwise

The Harvard Business Review recently recorded a 90-minute strategy meeting of Fortune-500 company leaders and found that they brought up the word “culture” a whopping 27 times. Can compensation plans actually reflect a company’s organizational culture? The Compensation Disconnect.

5 Simple But Powerful Compensation Management Principles 

HRsoft

Compensation management is inherently complex, but the ways in which we approach it don’t have to be complicated. While you may be familiar with many of the following principles, revisiting them can help reframe your compensation priorities and practices.

Why You Should Share Total Compensation Statements With Your Employees

Compensation Today

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? Learn More About Our Compensation Software.

You Get What You Measure/Compensate For!

TalentCulture

It’s an age-old adage, “You get what you measure and compensate for.”. There are a lot of things that impact quota performance, but I suspect a large part of the challenge is the other things we measure, hold people accountable for, and even compensate at some level.

Astronology®: 2020 Compensation Budgeting Forecast Part 1: Base Pay Adjustments

Astron Solutions

As we move past Labor Day, Astron Solutions is getting more and more requests for information regarding 2020 compensation budgeting. This is part one of a three-part review of 2020 compensation planning projections.

2018 Compensation Budgeting Forecast Part 2: Trends in Incentive Compensation

Astron Solutions

Astron Solutions finds that our client organizations are focusing more on how to enhance employee engagement through their total rewards programs, rather than specific compensation plan elements. Client organizations now look to variable compensation programs as a more effective answer.

How Scheduling Meetings in Advance Affects Reporting Time Pay in California

HRWatchdog

Can I pay my employees for the actual length of the meeting? Every third Saturday of the month, I hold a staff meeting for all of my employees. You would be correct in paying your employees for the actual length of the meeting, provided it exceeds one hour.

The Pillars of an Effective Compensation Management Process

HRsoft

The overarching objective behind your organization’s compensation management process is to pay your employees fairly without exceeding its budget. 3 Pillars Behind Effective Compensation Management Processes.

Compensation Management Trends to Watch for in 2020

HRsoft

As we look ahead to 2020, compensation management will play as important a role as ever in attracting and retaining the best talent for your organization. Thus, the question stands: What lies ahead for compensation in 2020? Compensation goes far beyond salary alone.

What Employees Want: The Future of Compensation

Everwise

Not much new thinking has gone into the standard compensation package since the invention of the 401(k) plan , nearly 40 years ago. Whether they remain within the company for three years or 30, employees who feel properly compensated will spread good word-of-mouth for the company.

The Complexity of Globalizing Compensation

Compensation Cafe

It is becoming popular to globalize compensation/benefits plans that, back in the old days, would have remained completely local. The reason is to ensure companies have a globally aligned and integrated compensation/benefits strategy and to prevent duplication of effort.

2017 Compensation Budgeting Outlook

Astron Solutions

economy and compensation budget planning. So as we collectively begin the annual ritual of compensation budgeting, let’s start with a quick analysis of the projected economic climate for 2017. 2017 Compensation Budgeting – A 30,000 Foot Review.

Your Company Needs a Compensation Solution. Now What?

HRsoft

Many HR professionals find themselves facing down complex compensation plans, and are left wrangling error-prone, cumbersome spreadsheets. If this sounds familiar, your organization is likely an ideal candidate for a compensation solution.

Corporate responsibility meets citizenship: A new role for HR

Bersin with Deloitte

Retaining and retraining tenured workers can help organizations meet their labor and skills needs, as can figuring out how to manage the alternative workforce—which isn’t actually alternative anymore. There to help you benchmark and identify compensation gaps.