How well are you managing workers’ compensation claims?

HR Times

The “80/20” rule is commonly applied to workers’ compensation claims: namely, that 80 percent of the cost comes from 20 percent of the claims. This is particularly noteworthy because worker’s compensation claims costs typically mirror health care costs and rise every year.

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.

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.

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.

Growing a Healthy Compensation Program

Compensation Cafe

There is a good-sized HR budget, plus the total HR and Compensation staff usually adds up to at least six practitioners who have had enough experience to know what "wellness" looks like. Compensation practices you typically see in an organization of fewer than 100 employees.

4 Compelling Advantages of Total Compensation Statements

HRsoft

Total compensation statements provide a broken-down look at all of the components of employees’ compensation. They can cover both hard-dollar components, such as base pay and cash bonuses, as well as intangible benefits.

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.

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. While less well-known, NQDC was a vital component for many of its supporters.

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.

Growing a Healthy Compensation Program -- Part Two

Compensation Cafe

A great motto for the day after Memorial Day, as well as for this series! We'll identify some of their missteps -- common to companies their size -- then discuss what they can do to achieve healthy compensation habits. This is the second article in a series. "If

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.

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.

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: 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 Is Not Appreciation’

HRExecutive

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

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.

Results from Three New Comprehensive Surveys on Compensation

HR Daily Advisor

At the recent WorldatWork’s 2018 Total Rewards Conference Pearl Meyer announced three comprehensive surveys aimed at helping HR professionals understand current trends in compensation and hiring. 2018 Cyber Security Compensation Survey.

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.

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.

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

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.

Growing a Healthy Compensation Program -- DIY Communications Guide

Compensation Cafe

And really, is there any other way a Human Resource professional could manage compensation communications when they are running an overwhelmed one-person office? So many companies sour on compensation communications early, thinking they are having no influence on employees.

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

Workplace wellness programs: Worth the investment?

Insperity

What’s in it for companies that devote time and money to workplace wellness programs? Still, employee wellness programs remain popular with businesses and employees alike. Why devote resources to workplace wellness? Historically, workplace wellness programs focused on cost containment as their sole reason for existence. Research over the years has offered conflicting reports on whether wellness programs actually reduce insurance and workers’ compensation claims.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.