Expert insights. Personalized for you.
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. MORE
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. This conference is specifically designed for compensation professionals — most who attend have the word “compensation” in their title. The conference is focused on recognition but touches on performance and compensation as well. MORE
Next week, June 18 – 21, the PayScale crew is off to New Orleans for SHRM17 Annual Conference and Exposition. We have two awesome prizes we’re raffling off: Trip to our own Compference 2017 , the modern compensation event featuring over 500 compensation leaders. Exploring the Compensation Data Landscape: Finding the Right Data Puts You Ahead of the Competition : This session will show you how you can have the right compensation data to help you win the talent war. MORE
SEPTEMBER 14, 2017
This is a lesson from PayScale’s Modern Compensation Planning ecourse. With your compensation plan in hand, it’s now time to take all your preparations and begin to utilize your comp plan. In this case, consider a multi-year plan to resolve the pay issues. Ultimately, you’ll want a clear communication plan for each level of your organization: Update your executives with the status of pay at your organization. MORE
The annual Compensation Best Practices Report (CBPR) you know and love now has an all-Canada edition! While the full report is in its eighth year, this is the first year we’re able to detail Canadian-specific compensation practices — we’re excited to share with our Canadian readers what other companies in their country are doing when it comes to setting pay for their employees. Learn More About Our Compensation Software. MORE
grew for the eighth consecutive quarter, according to the newly updated PayScale Index. Wages continue to experience modest growth with variability across industries, job families and metro areas,” said Katie Bardaro, Vice President of Data Analytics and Lead Economist at PayScale. Learn More About Our Compensation Software. Download the Q2 2017 PayScale Index. For more details on which metro areas are hot in Canada, see the Q2 2017 Canada PayScale Index Canada. MORE
percent annually in the first quarter of 2017, according to the newly updated PayScale Index , but slowed from Q4 2016. The labor market is in transition from the post-election bump in Q4,” said Katie Bardaro, VP of Data Analytics and Lead Economist at PayScale. Learn More About Our Compensation Software. The PayScale Index shows positive results tempered by uneven wage growth by industry and geography. PayScale Index. Wages in the U.S. grew 2.1 MORE
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. We partnered with PayScale , a cloud-based compensation software, to help HPM first devise a compensation philosophy and then access current market data to assign fair and objective pay to HPM’s jobs. Payscale helps us do that.”. MORE
This is a lesson from PayScale’s Modern Compensation Planning ecourse. With your new compensation philosophy hot off the presses, it’s time to go to market to identify the value of your jobs. The next two lessons in building your compensation plan will teach you how to perform compensation benchmarking. Decide on Your Compensation Strategy. How competitive do you plan to be relative to your talent market(s)? MORE
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. MORE
One intentional decision that too many companies aren’t making: establishing their compensation strategy. PayScale’s 2017 Compensation Best Practices Report (CBPR) found that just 37 percent of all organizations have a comp strategy. What is a compensation strategy? It’s the sum of all the choices you make about how to spend your compensation dollars, including the market where you compete for talent and how competitively you plan to pay in that market. MORE
As I have said before, every organization operates inside a distinct labor market and only by understanding the overall economy and relevant labor markets, both macro and micro, can one make informed decisions and plan a smart talent strategy. MORE
PayScale was there for The Elevate Summit , BambooHR’s first ever user conference, and we know many of you were too. One particularly special session for us was “The Ripple Effect of a Pay Strategy Change,” in which PayScale CPO Dave Smith presented with Justin Gagnon, CEO of our customer, Choicelunch. Learn More About Our Compensation Software. Here are some helpful resources: 5 Easy Steps to a Smart Compensation Plan. Communicating Compensation. MORE
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? MORE
When you juxtapose that with the fact that 2021 was the biggest year ever for the HR technology market in terms of investment, we just couldn’t go without sharing the biggest pieces of the last 12 months and highlighting a few for their specific value. Learning Management Technology. MORE
The PayScale Women at Work survey indicates that less than 5 percent of all software architects are women. Further, women in software engineering jobs earn at least 12 percent less than men in similar jobs. A LinkedIn survey supports this data, revealing that less than one-tenth to a quarter of all software engineers are women. Have technology companies made the workplace female friendly? Women in technology careers across the nation face similar scenarios. MORE
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. MORE
Each year, PayScale runs the numbers on the nation’s top tech employers to shed light on what the employee experience (and pay) is like at some of the hottest companies in the country. We included 52 organizations in this year’s review — up considerably from last year’s total of 18 — for a more comprehensive look into what’s going on in the tech industry from a compensation and employee-outlook perspective. Learn More About Our Compensation Software. MORE
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? MORE
Whether it’s a new streaming digital music service that renders your CDs obsolete or a new SaaS technology vendor that’s upending the status quo at your business, innovation is disrupting our lives every day. Then in the late 1960s and early 1970s, business started shifting to more automated production, using computers and information technology. By the mid-2000s we started to see the blending of technology and devices. Focus on Compensation. MORE
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? MORE
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. MORE
This is a lesson from PayScale’s Modern Compensation Planning ecourse. Learn More About Our Compensation Software. Like most things in compensation, there is no hard and fast rule here. In the next lesson, we’ll help you round out your comp plan with policies and processes. Want all seven Modern Compensation Planning lessons delivered right to your inbox? Compensation Plans compensation planning compensation plans pay ranges MORE
Getting compensation right can be tricky – that’s why businesses perform due diligence and conduct benchmarking surveys. Compensation was always important, but it’s even more critical in the aftermath of the pandemic. Compensation Specialization. MORE
Enterprise compensation management (ECM) refers to the ways in which pay policies are administered, organized, and automated in companies. Because compensation accounts for a significant portion of overall business costs – up to 70% – it’s important to ensure pay is achieving what it’s intended to do. Specifically, ECM should be able to answer the following questions: Does our workforce feel they’re being fairly compensated? MORE
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. MORE
Only 29 percent of small businesses have a compensation strategy, according to data collected for PayScale’s Compensation Best Practices Report , compared with 37 percent of all organizations — despite the fact that small businesses must compete with larger orgs for talent, generally with smaller compensation budgets. But without a compensation strategy, there’s no way for orgs to tell if their money is being used effectively … or wasted. MORE
You may ask, how is product management like compensation management? Building a product and managing compensation for an organization are not projects — they’re ongoing endeavors that are continuously improving and delivering. How Agile Facilitates Easier Compensation Planning. Compensation is often thought of as a behemoth undertaking, not for the faint of heart. Here’s how to approach compensation with an Agile mindset. MORE
This is a lesson from PayScale’s Modern Compensation Planning ecourse. Now that you’ve built and implemented your plan, think about how you can keep it current both from year to year and between cycles. One of the tricks of compensation planning is that it’s never truly done. Here are some suggestions to help you do just that: Build an evaluation process into your rollout that makes adjustments to the plan after a month, a quarter or maybe six months. MORE
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. MORE
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? Learn More About Our Compensation Software. The Wrong Way to Communicate Compensation. MORE
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. MORE
This is a lesson from PayScale’s Modern Compensation Planning ecourse. Select Compensation Market Data Sources. Since there are a variety of compensation data sources available to you, it’s crucial that you choose wisely. Learn More About Our Compensation Software. Start scouting around for your compensation data sources. Blog: Is Your Compensation Plan Competitive Enough to Retain Top Talent? MORE
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. MORE
In PayScale’s 2017 Compensation Best Practices Report we learned that about half of healthcare organizations (49 percent) will compensate more for competitive jobs. 49 percent of healthcare orgs will compensate more for competitive jobs – which usually means nurses, physicians, etc. Learn More About Our Compensation Software. It provides some insights about how medical and healthcare organizations approach compensation. MORE
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. MORE
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! MORE
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. MORE
Vantage Circle
OCTOBER 21, 2021
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.
Lighthouse
JANUARY 5, 2022
When you juxtapose that with the fact that 2021 was the biggest year ever for the HR technology market in terms of investment, we just couldn’t go without sharing the biggest pieces of the last 12 months and highlighting a few for their specific value. Learning Management Technology.
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HRExecutive
AUGUST 3, 2020
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?
Compensation Today
OCTOBER 26, 2016
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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Compensation Today
APRIL 11, 2017
percent annually in the first quarter of 2017, according to the newly updated PayScale Index , but slowed from Q4 2016. The labor market is in transition from the post-election bump in Q4,” said Katie Bardaro, VP of Data Analytics and Lead Economist at PayScale. Learn More About Our Compensation Software. The PayScale Index shows positive results tempered by uneven wage growth by industry and geography. PayScale Index. Wages in the U.S. grew 2.1
Compensation Today
JULY 14, 2017
The annual Compensation Best Practices Report (CBPR) you know and love now has an all-Canada edition! While the full report is in its eighth year, this is the first year we’re able to detail Canadian-specific compensation practices — we’re excited to share with our Canadian readers what other companies in their country are doing when it comes to setting pay for their employees. Learn More About Our Compensation Software.
Compensation Today
NOVEMBER 9, 2015
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.
Compensation Today
JUNE 14, 2017
Next week, June 18 – 21, the PayScale crew is off to New Orleans for SHRM17 Annual Conference and Exposition. We have two awesome prizes we’re raffling off: Trip to our own Compference 2017 , the modern compensation event featuring over 500 compensation leaders. Exploring the Compensation Data Landscape: Finding the Right Data Puts You Ahead of the Competition : This session will show you how you can have the right compensation data to help you win the talent war.
Zenefits
DECEMBER 29, 2021
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.
Compensation Today
JUNE 23, 2017
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. This conference is specifically designed for compensation professionals — most who attend have the word “compensation” in their title. The conference is focused on recognition but touches on performance and compensation as well.
.png)
Compensation Today
JULY 25, 2017
Each year, PayScale runs the numbers on the nation’s top tech employers to shed light on what the employee experience (and pay) is like at some of the hottest companies in the country. We included 52 organizations in this year’s review — up considerably from last year’s total of 18 — for a more comprehensive look into what’s going on in the tech industry from a compensation and employee-outlook perspective. Learn More About Our Compensation Software.
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Compensation Today
OCTOBER 19, 2015
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!
Compensation Today
MAY 3, 2017
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.
Vantage Circle
SEPTEMBER 8, 2021
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?
Compensation Today
SEPTEMBER 7, 2017
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.
Compensation Today
SEPTEMBER 11, 2017
This is a lesson from PayScale’s Modern Compensation Planning ecourse. Select Compensation Market Data Sources. Since there are a variety of compensation data sources available to you, it’s crucial that you choose wisely. Learn More About Our Compensation Software. Start scouting around for your compensation data sources. Blog: Is Your Compensation Plan Competitive Enough to Retain Top Talent?
Compensation Today
SEPTEMBER 12, 2017
This is a lesson from PayScale’s Modern Compensation Planning ecourse. Learn More About Our Compensation Software. Like most things in compensation, there is no hard and fast rule here. In the next lesson, we’ll help you round out your comp plan with policies and processes. Want all seven Modern Compensation Planning lessons delivered right to your inbox? Compensation Plans compensation planning compensation plans pay ranges
Compensation Today
SEPTEMBER 8, 2017
This is a lesson from PayScale’s Modern Compensation Planning ecourse. With your new compensation philosophy hot off the presses, it’s time to go to market to identify the value of your jobs. The next two lessons in building your compensation plan will teach you how to perform compensation benchmarking. Decide on Your Compensation Strategy. How competitive do you plan to be relative to your talent market(s)?
Compensation Today
SEPTEMBER 14, 2017
This is a lesson from PayScale’s Modern Compensation Planning ecourse. With your compensation plan in hand, it’s now time to take all your preparations and begin to utilize your comp plan. In this case, consider a multi-year plan to resolve the pay issues. Ultimately, you’ll want a clear communication plan for each level of your organization: Update your executives with the status of pay at your organization.
Compensation Today
JULY 18, 2017
Whether it’s a new streaming digital music service that renders your CDs obsolete or a new SaaS technology vendor that’s upending the status quo at your business, innovation is disrupting our lives every day. Then in the late 1960s and early 1970s, business started shifting to more automated production, using computers and information technology. By the mid-2000s we started to see the blending of technology and devices. Focus on Compensation.
Compensation Today
OCTOBER 26, 2015
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.
Compensation Today
JUNE 8, 2015
The PayScale Women at Work survey indicates that less than 5 percent of all software architects are women. Further, women in software engineering jobs earn at least 12 percent less than men in similar jobs. A LinkedIn survey supports this data, revealing that less than one-tenth to a quarter of all software engineers are women. Have technology companies made the workplace female friendly? Women in technology careers across the nation face similar scenarios.
HRsoft
APRIL 1, 2019
Enterprise compensation management (ECM) refers to the ways in which pay policies are administered, organized, and automated in companies. Because compensation accounts for a significant portion of overall business costs – up to 70% – it’s important to ensure pay is achieving what it’s intended to do. Specifically, ECM should be able to answer the following questions: Does our workforce feel they’re being fairly compensated?
Compensation Today
MAY 30, 2017
PayScale was there for The Elevate Summit , BambooHR’s first ever user conference, and we know many of you were too. One particularly special session for us was “The Ripple Effect of a Pay Strategy Change,” in which PayScale CPO Dave Smith presented with Justin Gagnon, CEO of our customer, Choicelunch. Learn More About Our Compensation Software. Here are some helpful resources: 5 Easy Steps to a Smart Compensation Plan. Communicating Compensation.
Compensation Today
SEPTEMBER 15, 2017
This is a lesson from PayScale’s Modern Compensation Planning ecourse. Now that you’ve built and implemented your plan, think about how you can keep it current both from year to year and between cycles. One of the tricks of compensation planning is that it’s never truly done. Here are some suggestions to help you do just that: Build an evaluation process into your rollout that makes adjustments to the plan after a month, a quarter or maybe six months.
Career Metis
APRIL 9, 2020
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.
Compensation Today
MARCH 17, 2017
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? Learn More About Our Compensation Software. The Wrong Way to Communicate Compensation.
Compensation Today
MAY 8, 2017
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.
Compensation Today
MARCH 20, 2017
One intentional decision that too many companies aren’t making: establishing their compensation strategy. PayScale’s 2017 Compensation Best Practices Report (CBPR) found that just 37 percent of all organizations have a comp strategy. What is a compensation strategy? It’s the sum of all the choices you make about how to spend your compensation dollars, including the market where you compete for talent and how competitively you plan to pay in that market.
HRExecutive
MAY 28, 2021
As I have said before, every organization operates inside a distinct labor market and only by understanding the overall economy and relevant labor markets, both macro and micro, can one make informed decisions and plan a smart talent strategy.
Compensation Today
APRIL 27, 2017
In PayScale’s 2017 Compensation Best Practices Report we learned that about half of healthcare organizations (49 percent) will compensate more for competitive jobs. 49 percent of healthcare orgs will compensate more for competitive jobs – which usually means nurses, physicians, etc. Learn More About Our Compensation Software. It provides some insights about how medical and healthcare organizations approach compensation.
Decusoft
NOVEMBER 5, 2021
Getting compensation right can be tricky – that’s why businesses perform due diligence and conduct benchmarking surveys. Compensation was always important, but it’s even more critical in the aftermath of the pandemic. Compensation Specialization.
Compensation Today
JULY 5, 2017
You may ask, how is product management like compensation management? Building a product and managing compensation for an organization are not projects — they’re ongoing endeavors that are continuously improving and delivering. How Agile Facilitates Easier Compensation Planning. Compensation is often thought of as a behemoth undertaking, not for the faint of heart. Here’s how to approach compensation with an Agile mindset.
Compensation Today
MAY 26, 2017
Only 29 percent of small businesses have a compensation strategy, according to data collected for PayScale’s Compensation Best Practices Report , compared with 37 percent of all organizations — despite the fact that small businesses must compete with larger orgs for talent, generally with smaller compensation budgets. But without a compensation strategy, there’s no way for orgs to tell if their money is being used effectively … or wasted.
Digital HR Tech
NOVEMBER 11, 2019
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?
Workable
NOVEMBER 7, 2017
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.
Compensation Today
NOVEMBER 3, 2016
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. We partnered with PayScale , a cloud-based compensation software, to help HPM first devise a compensation philosophy and then access current market data to assign fair and objective pay to HPM’s jobs. Payscale helps us do that.”.
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