Recruiting High Performers: Compensation Out, Compassion In

ClearCompany HRM

They’re more productive, highly driven, can save you money on hiring and, if you can keep them around long enough, they have the potential to do great things for your organization. They’re still trying to attract high performers with compensation , and this isn’t the way to go about it.

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.

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Indirect Compensation

New to HR

While compensation exists to pay a person for their time, the benefits of doing their job, namely the financial ones, will be what attracts them and motivates them to do well for your company. What is Indirect Compensation? The Advantages of Indirect Compensation.

Sales Compensation Strategy 101

HR Daily Advisor

Setting the compensation strategy for the entire organization is no small task, especially when certain groups may warrant their own separate compensation strategy, as they have differing goals and objectives. Sales compensation strategy 101.

Compensation Wins Talent, Recognition Retains It

Achievers

Compensation as a motivator. Does it make them more productive? Does compensation align your employees to your company’s mission and values? In summary, compensation will help you open the door for new talent but won’t close it behind them when they enter.

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."

Compensation Planning Automation

HRsoft

Compensation planning plays a pivotal role in ensuring that your employees remain motivated to work for your company. Your best performers are always looking for the next best company where their talents can be better recognized and compensated for. Traditional Compensation Planning.

Compensation Cafe: What’s Happened to Worker Productivity?

RecognizeThis!

Numbers have come out recently from the Bureau of Labor Statistics on worker productivity, and the conclusions aren’t all that positive. According to the report , productivity has been on the decline in the US for the previous four quarters at an annualized rate of 0.4%. There are a couple of opinions out there, summarized in a recent post I wrote on Compensation Cafe: One argument is that all of that innovation and technology aren’t doing much to help productivity.

Progressive Performance Management: Why Your Employee Compensation Strategy Is Holding You Back

15Five

One of the main issues that HR leaders face when considering a progressive performance management program is how to revamp their employee compensation strategy. So, if companies distribute compensation based on ratings like most are, they have errors in their performance measures.

Compensation Dentistry – The Orthodontist (part 3)

Compensation Cafe

They have an innovative product and the core team for future success. They have a business plan that requires a ton of new hires and a compensation philosophy or structure designed for the company they were a year ago.

Cafe Classic: Can Your Compensation Philosophy Do THIS!?

Compensation Cafe

Can your compensation philosophy keep up? The topic of compensation philosophy was raised recently in a conversation I had with a group of local executives. From a compensation perspective, this doesn't just bring new jobs and different skill sets into the picture.

6 Things You Think Are True, But Aren’t (Compensation Edition)

Compensation Cafe

The video got me thinking about things compensation professionals believe that have little, or no, foundation in reality. Equity compensation is a great retention tool. The best compensation program in the world is useless without the right people to “sell” it to potential customers.

Using goals to drive productivity: Set the STAGE!

Bersin with Deloitte

The same is true for performance management—and the stakes are higher, considering that this is an activity that feeds into your career, growth, and compensation. Use goals to encourage growth and development and not merely to achieve targets or to make compensation and promotion decisions.

What is the Modern-Day Compensation Definition?

HRsoft

Today a search for compensation definition will yield results such as “topics in regard to wage and/or salary programs and structures,” or some variation of that phrasing. Let’s take a brief look at how past pay models have led us to today’s definition of compensation.

Talent Success Toolkit Lesson 5: Compensation

ClearCompany HRM

In 2017, employee salaries are expected to grow by 3% ; with candidate and employee resources like Payscale easily accessible to research competitive compensation rates for specific job roles, addressing com pensation is a vital step to the retention improvement process for employers.

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.

Cafe Classic: What Compensation Can Learn From Marketing

Compensation Cafe

When business professionals suggest HR/Compensation needs a stronger background in business, they probably mean overall Business Strategy as well as some Accounting and Finance. I am personally fascinated by Marketing and how much in common I think it has with Compensation.

Compensation Conundrums and Commas

Compensation Cafe

You may have been warned to, "Watch your commas, Ps and Qs to be safe from compensation disaster." Or perhaps it was a warning to, "Watch your commas, Ps, and Qs to be safe from compensation disaster." The compensation issue came from confusion over a series of exempt categories.

Compensation Cafe: Why Friends at Work Matter

RecognizeThis!

It’s a driving factor in employee productivity, retention and wellness. I couldn’t say everything I wanted to about the importance of friends at work in my post on this blog last week , so I continued the theme today on the Compensation Cafe blog. by Derek Irvine.

Bernie Sanders: Proving the Compensation Side of the People Business is Problematic.

The HR Capitalist

Many field staffers are barely managing to survive financially, which is severely impacting our team’s productivity and morale,” the union said in a draft letter to campaign manager Faiz Shakir. Compensation Current Affairs Employee Relations Recruiting Talent

Cafe Classic: Sales Compensation 101

Compensation Cafe

Editor's Note: A poorly crafted, implemented and/or communicated sales compensation program can really create problems. Here with some Classic words of wisdom on how to avoid trouble and position for success in sales compensation is Chuck Csizmar. Sales Compensation

Growing a Healthy Compensation Program

Compensation Cafe

After all, your company and culture are unique, your CEO directs a lot of the key decisions personally and, often, market forces are exclusive to your products and/or services. HR operating context: Predictable revenue and productivity are the company's overarching operating goals.

How Compensation Can Help Your Company Innovate

Compensation Today

economy was centered around production and manufacturing. Then in the late 1960s and early 1970s, business started shifting to more automated production, using computers and information technology. Focus on Compensation. Compensation Is Much More Than Data.

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.

Get Me a Compensation Strategy, STAT!

Compensation Today

Every day, companies make intentional decisions about their business: should they expand their products or services, is the time right to open new locations, are they ready to add jobs and headcount? What is a compensation strategy? Does your organization have a compensation strategy?

2018 Compensation Budgeting Forecast Part 2: Trends in Incentive Compensation

Astron Solutions

In these cases, the bonus is based on the achievement of targets that may only be theoretically possible, such as running a production facility at 100% of its capacity. Client organizations now look to variable compensation programs as a more effective answer.

Use Agile to Make Compensation Changes Manageable

Compensation Today

” Agile is often associated with managing products — and the work that goes in to building and maintaining those products — in increments. You may ask, how is product management like compensation management? Learn More About Our Compensation Software.

Cafe Classic: Re-Thinking Compensation At Professional Services Firms

Compensation Cafe

Editor's Note: As pay transparency and equity concerns draw ever more attention, it's interesting to revisit Stephanie Thomas's Classic post about black-box models of compensation and their fit, to the unique world of professional service firm partnerships or.

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.

The Objectives of Compensation Management

HRsoft

Compensation happens to be the largest expense that an organization can directly control. Why Is Compensation Management So Complicated? With so many requirements and criteria to juggle, there is no doubt that compensation planning is a complicated area to manage.

Astron’s Yearly Compensation Review Part I: Base Pay Projections

Astron Solutions

Effective organizations will explore four key areas to better understand the “best” approach when it comes to 2019 base pay compensation budgeting: The 2019 Economic Forecast and Its Impact on Employment and Wages. Compensation costs for private industry workers increased 2.9%

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. Feel like you're in over your head with compensation strategy? Learn More About Our Compensation Software.

Unleashing Your Inner Scientist: Lab Mindsets & HR/Compensation Experiments

Compensation Force

And I have borrowed shamelessly from their material to create a set of rules for compensation and HR experimentation, presented below for your review and response. Experimentation, it seems, is on a lot of our minds lately.

5 Go-To Tips for Communication Compensation

Reviewsnap

Compensation is a touchy subject and now more than ever the hot, blinding spotlight is keeping a close watch. The scruples of pay gaps, compensation perception and how compensation is communicated are now the center of an ongoing discussion that’s keeping employers and HR professionals on the edge of their seats. Perhaps the most famous … Continue reading 5 Go-To Tips for Communication Compensation. Compensation Employee Compensation productivity

4 Compelling Advantages of Total Compensation Statements

HRsoft

Total compensation statements provide a broken-down look at all of the components of employees’ compensation. Here, we look at some of the ways compensation statements can benefit your organization.