Update: Employee Compensation at Wells Fargo

Compensation Cafe

Compensation Cafe has covered Wells Fargo's pay practices since 2009, when the Bank canceled prefunded employee recognition and rewards events in the midst of the Recession, blaming it on federal government restrictions on bank practices following the subprime mortgage crisis.

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.

3 Stressed Workers Your Wellness Program May Be Overlooking

TLNT: The Business of HR

As more employers start investing in wellness benefits and initiatives, it’s important to understand their objectives. Compensation & Benefits Wellness Workplace Stress Featured

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.

People, HR & Analytics

Speaker: Rodney B. Bolton SPHR, CEO, HR BIZZ

Through analytics you can make better decisions about all aspects of HR strategy, including which candidates to hire, which employees are doing well, who's receiving adequate compensation and how employee retention can be improved.

Who Cares About Compensation?

Compensation Cafe

What if you worked in an organization where the Head of Human Resources didn't view the Compensation function as vitally important to the organization? So What's Wrong With Compensation? It is unusual for this office holder to have cut their teeth in either Benefits or Compensation.

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.

Wellness, Flexible Benefits Can Make a Big Difference

TLNT: The Business of HR

Compensation & Benefits HR Trends Strategic HR Wellness Workforce employee experience FeaturedNew research reveals that an alarming 62% of workers believe that their employer and workplace are having a negative or very negative impact on their wellbeing.

Compensation Cafe: Superpower-based Compensation

RecognizeThis!

As work roles become more fluid, compensation needs to transform to include solutions that are more social, dynamic, and engaging. I came across an interview with Tony Hsieh the other day, as I wrote recently in this post on Compensation Cafe , where he was describing the experiment of holocracy at Zappos and what the implications were for HR practices. One interesting comment stood out when he described his thinking on how compensation was being transformed. By Derek Irvine.

Compensation Cafe: Chasing Best Practices

RecognizeThis!

Benchmarks and best practices can give company leaders insight into what those around them are doing, how much they are spending, and how well they are performing. Bonus & Incentives Best Practices compensation performanceBy Derek Irvine. Recognize This!

Compensation Cafe: A Paycheck Is Not Recognition for a Job Well Done

RecognizeThis!

— Psychologically healthy employees require appropriate compensation and praise for their efforts. It’s the classic discussion of the difference between compensation and recognition, which was the top of my most recent post on Compensation Cafe. by Derek Irvine.

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.

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.

Corporate Social Responsibility, Corporate Performance and Executive Compensation

Compensation Cafe

Is there a relationship between corporate social responsibility, corporate performance, and executive compensation? Similarly, there is disagreement about the direction of the relationship between CSR and the strength of the corporate performance - executive compensation relationship.

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.

Wellness + Financial Wellness = Better Benefits Satisfaction?

HR Daily Advisor

Employees are happier with their benefits when a wellness program is offered—and happier still when that wellness program includes a financial wellness component, according to a new survey released by Four Seasons Financial Education (FSFE).

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.

Marketing Compensation to Employees and Managers? You Bet.

Compensation Cafe

What, if anything, does that have to do with our compensation work? You know, just like if you have a new compensation change or improvement, why don't employees and managers just buy it and applaud your innovation? They have to introduce new insurance and wellness products regularly.

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.

Incentive Plans Work Too Well (here’s the trick)

Compensation Cafe

It's not that incentive plans don't work well, it's that they can work too well in motivating unintended consequences. Are any incentive compensation experts shocked by this? The failed Wells Fargo incentive plan and Tax Reform are similar.

How a University Wellness Program Improved Health and Saved Millions

TLNT: The Business of HR

Faced with surging employee health care costs, many employers have embraced the concept of wellness as a way to improve the overall health of their workers and reduce medical claims. Compensation & Benefits Healthcare HR Insights Strategic HR Featured wellness

Do You Need A Compensation Strategy?

Compensation Cafe

How many of you reading this article have a piece of paper that you can lay your hands on, one with the title, “Compensation Strategy”? Then what should be the focus of a compensation strategy? Compensation Philosophy

What’s the Best Sales Compensation Plan for Millennials?

HR Gazette

Building an effective sales compensation plan that is well suited to the needs of your business and your employees is no easy feat. In this article we’ll take a look at what’s the best sales compensation plan for millennials. Well, another Gallup survey might hold some answers.

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

How the New Workforce Is Changing Incentive Compensation

HR Daily Advisor

Coupled with employers’ worries about hiring and retaining qualified workers, the result is a mounting concern about how to compensate key Millennials. Yet, employers still need to create long-term value and tie that creation to key employee compensation.

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.

‘Compensation Is Not Appreciation’

HRE's The Leader Board

Survey respondents also reported high rates of absenteeism (33 percent) and work-family (81 percent), as well as increased mental health and behavioral problems (63 percent).” According to the study, Gallo says, “Staff recognition and praise matters more than compensation, indicating that improving managements’ skills and ability to provide verbal and written support is more meaningful than increasing salaries. ” compensation HR profession recognition

2018 Compensation Budgeting Forecast Part 3: Trends in Non-Profit Compensation

Astron Solutions

The world of non-profit compensation continues to see radical changes from the past. Previously, it was assumed that non-profits, due to the limitations placed on their abilities to generate revenue, were in the position of compensating their employees much below the market.

A Basic Truth of Compensation Communications

Compensation Cafe

Managers are the compensation communicators in your company. Not HR, not Legal, not even the CEO whose job is to explain why your compensation program makes good business sense -- but doesn't have to explain another 3%ish increase to a new parent.

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.

Compensation Linked To Performance, Feedback, and Engagement

LAROCQUE

Compensation Practices Driving Cultural Shifts In Performance Management Explored In New #HRWins eBook. ” Well, there isn’t any excuse for not knowing any more. Data that give employees an idea of their fair market value for total compensation.

Forget About Cash Compensation?

HR Daily Advisor

Whenever your company is thinking about giving out some additional compensation, it seems so easy to go with cash. When it comes to wellness incentives, cash is quite common. Here are six reasons why you shouldn’t use cash as a wellness incentive. By Bryan Van Noy.

Are Wellness Benefits Worth the Investment?

Astron Solutions

Interest in wellness benefits has surged in recent years. The Kaiser Family Foundation’s 2016 Employer Health Benefits Survey found that 46% of small employers and a whopping 83% of larger organizations offer some form of wellness programs.

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!

Compensation Cafe: Fair Pay, Differentiated Rewards

RecognizeThis!

— Differentiating recognition and rewards for top performers is critical while still allowing for all to participate in the opportunity to be recognized for work well done. I intentionally stirred the compensation and recognition pot in my last post on Compensation Cafe.

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