Are You a Compensation Arsonist?

Compensation Cafe

Short-term incentive plan that doesn’t align well with recent company performance? Pay levels and execution that do not match your compensation philosophy (or vice versa)? The difference will be how well you respond.

Why Compensation Doesn’t Drive Motivation

Reflektive

But will the incentive of a higher salary or compensation bonus improve their work performance? Well, that’s another story. 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. It includes a number of variables, such as company culture , career development, as well as meaningful and challenging work. Compensation Isn’t Enough.

Trending Sources

Compensation Transparency

China Gorman

Transparency in Compensation: Trends and Best Practices , underwritten by salary.com , is a thoughtful and interesting discussion of the impact of different levels of transparency in the workplace – from too little to too much.

Build a Philosophical Foundation for Your Compensation Program

HR Daily Advisor

Does your compensation program have a solid foundation? It does if you took the time and made the effort to develop a compensation philosophy. Compensation Philosophy as a Tool. When shared with managers and employees, it answers the “why” about compensation programs.

Compensation Transparency: Advice for Getting the Balance Just Right

UpstartHR

This specifically applies to compensation as well. Trends in Transparency : A wide variety of trends have contributed to this increased demand for compensation transparency. If you’re interested in reading and learning more about compensation transparency, be sure to check out our free eBook on the topic underwritten by the great team at Salary.com, where this content was pulled from. General Communication Compensation eBook Lighthouse Research Research

How Helping Employees Get Financially Well Pays Off for Everyone

HR Daily Advisor

This is where employer-sponsored financial wellness programs can improve workers’ financial security, reducing concerns that affect everything from health to job performance. Financial Wellness Programs Are Similar to Physical Wellness Plans.

Culture and Compensation

China Gorman

PayScale has produced its 8 th annual in-depth report on compensation best practices: Comp is Culture. If you have anything to do with paying people – so, that’s virtually every manager, everywhere – reading this report will be well worth your time.

7 Compensation Resolutions for 2017

Compensation Today

As a word nerd, I looked up the various and alternative definitions for “resolution,” the first two of which work well for our purposes: a) the act of analyzing a complex notion into simpler ones and b) the act of answering: solving. Check out these seven compensation #resolutions 2017!

The Real Cost of Mismanaged Incentives: Wells Fargo

Compensation Cafe

Well, so much for the warm-hearted caffeinated, pick-me-up from the Comp Café. Today is a steaming jolt of quadruple espresso in response to the Wells Fargo incentive pay mess. I answered that if I had been asked a few weeks ago, Wells Fargo would have been on the list.

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. Compensation practices are increasingly being used as a way to cement relationships with employees.

Get Me a Compensation Strategy, STAT!

Compensation Today

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?

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. How have compensation structures developed? Learn More About Our Compensation Software.

HR Moments Matter: 3 Compensation Challenges Solved With People Analytics

Visier

In this post, Allison talks about Compensation. Compensation is one of the key culture-definers for organizations. As analytics become more widely used in HR, I’d like to share a few ways you can use a people strategy platform to make better compensation decisions: 1.

Compensation Planning to Retain Top Talent

TalentGuard

Consider how compensation planning and management factors into every facet of an individual business. But you can’t just give employees greater responsibility and compensation if they are not ready for it. The dangled carrot in addition to a larger role is the increased compensation.

The Future of Compensation & Benefits is Wealth & Wellness!

HR Gazette

Redefining the traditional approach of Compensation & Benefits. However, no company has yet attempted to redefine the most controversial HR stream of “compensation & benefits”. Most HR streams have become transformational in nature but from time immemorial compensation and benefits has been transactional – “you do good work you get salary; you do great work you get bonus”. We don’t give benefits to our people; we work on their wellness and wellbeing.

Compensation Considerations in Attracting Top Talent

TalentGuard

Consider how compensation planning and management factors into every facet of an individual business. What was their target income during their tenure and how much did they make demonstrates how well the job was done. Request a Compensation Planning Demo.

Compensation’s Role In Acquisitions

Compensation Cafe

Much has been written about acquisitions and Compensation’s involvement in them. Regardless of whether the target company will be an autonomous operation or fully integrated into the parent company, Compensation in the acquiring company has work to do.

Compensation Work and Skin in the Game

Compensation Cafe

I think it could raise some interesting questions about how compensation jobs and functions are defined and organized. . How quickly could you (compensation professional) get your head around the differences in skills, practices and behaviors needed?

Trend In Wellness Is Toward Well-Being Programs

TLNT: The Business of HR

Workplace wellness programs are now widespread in the U.S., Compensation & Benefits Wellness Featured

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.

Does Compensation Transparency Really Matter?

HRsoft

In specific, there seems to be a greater demand for compensation transparency than ever before. In other words, if you want your teams to perform well, develop open lines of communication surrounding your pay policies. The post Does Compensation Transparency Really Matter?

Superpower-based Compensation

Compensation Cafe

One of the interesting implications, highlighted in a recent interview that Tony Hsieh gave at Wharton’s 2016 People Analytic conference, is for the topic of compensation. What determines compensation when the foundation of the organization is so fluid?

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. Unfortunately, putting together a strong compensation plan is no easy task.

Changemaker spotlight: Dr. Wald at USAA knows well-being can drive business results

Limeade

Because Dr. Peter Wald believes well-being makes him a better employee and a better leader. USAA as an enterprise is very focused on our employees’ well-being. The organization has invested in well-being for over 10 years and eventually outgrew their original vendor.

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.

Disruptive Innovation in Compensation Communication Practices

Compensation Cafe

Here's another article on compensation communication. Patrick's Day by getting yourself a ration of common sense from the popular ebook, Everything You Do (in Compensation) Is Communication @ www.everythingiscommunication.com.

A Small Problem for Compensation Professionals

Compensation Cafe

But one important family of compensation, equity, is almost completely missing from this year’s event. It is easy to see why so many compensation professionals struggle with better use of equity when one of the few industry events provides so little in the way of information. .

Trends, Tools and Techniques Impacting Compensation Management [WEBCAST]

Ceridian

It’s essential that Compensation Management tools keep pace with market needs. On Tuesday, May 9 at 2 PM ET, Ceridian is partnering with The Wilson Group to discuss current Trends, Tools and Techniques Impacting Compensation Management. The Wilson Group is a consulting firm that helps companies devise strategies to assess, develop, and implement performance systems and total compensation plans. The total rewards picture must evolve as well.

How to Use Compensation Analytics to Tell a Story

Compensation Today

This is a lesson from our forthcoming ecourse on compensation analytics, and builds on our previous post on how to dig into comp analytics for specific questions. Having done your homework, you’re well-poised to prove it. Learn More About Our Compensation Software.

Driving Financial Wellness For Employees

New to HR

The concept of wellness has long been an integral thread in the fabric of human resources. But in recent times its definition has expanded from covering solely the traditional “ emotional ” aspect of wellness to incorporate the idea of employee financial wellness as an important area of concentration for the HR function. The post Driving Financial Wellness For Employees appeared first on New To HR. Compensation & Benefits Job Satisfaction

Why Do We Love Urban Legends About Compensation Communications?

Compensation Cafe

That's the theme of most HR conversations about compensation communications. Think our compensation communication urban legends get in the way? Why not apply the microtargeting approach to compensation communications, especially with managers? Despair.

Compensation Cafe: Top 5 Reasons for Bad Days at Work

RecognizeThis!

As I say in my post on Compensation Cafe: “The ROI factor involved in reducing the number of “bad days” experienced by employees is not insignificant. ” I encourage you to read my full summary post as well as the full survey results from Woohoo. by Derek Irvine.

Total compensation statements: Don’t overlook their morale-building value

HR Morning

Employers across the country indirectly increased employees’ compensation recently and in many companies, it seemed like nobody noticed. The compensation increase likely took one of these forms: increasing the amount you paid for their health insurance. That’s the beauty of total compensation statements. comparing what you paid for each element of a person’s compensation this year versus what you paid for it last year. Bonus compensation paid.