What COVID means to compensation

HRExecutive

With 100% remote work and no plans for now to return the entire workforce to full-time office-based employment, many Workday employees are looking at moving from expensive or tax-heavy locations to less costly ones. See also: HRE ‘s Number of the Day-Benefit reductions.

5 Steps to Creating An Effective Employee Compensation Strategy

Career Metis

Do you have any idea about the employee compensation strategy? Do you know how big organizations are attracting their new employees? In today’s competitive talent market, talent acquisition professionals face an increasingly daunting process of hiring the employees.

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A Full Guide to Compensation and Benefits

Digital HR Tech

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? Benefits cover indirect pay.

Top Employee Engagement Tools (Detailed Comparison)

Vantage Circle

Employee engagement tool helps measure or boost employee engagement that in turn will improve the productivity and efficiency of the employees and reduce staff turnover. Features of Employee Engagement Tools. Employee perks: Employee discounts.

7 employee retention strategies from employee experience visionaries

Qualtrics

If employees are your source of innovation, it’s important to retain them. However, employee turnover is in many industries is high and costly in time, money, and resources. The Society of Human Resources Management (SHRM) suggests that direct replacement costs can reach as high as 50%-60% of an employee’s annual salary, and total costs associated with turnover ranging from 90% to 200% of annual salary. You can download our free employee engagement survey template here.

Are Standing Desks Now a Workplace Must?

Namely

Still, I would have considered the ubiquity of standing desks to be a “Seattle” or “tech” thing before reading this StarTribune article that says, according to a June report from SHRM, that standing desks have become the fastest growing employee benefit in the U.S. If you’re not offering standing desks, are you now not meeting baseline employee expectations? The Employee Take Spoiler alert: I don’t know. This post originally appeared on Payscale.

M&A Friday! This Week’s HR Deals

Advos

Our weekly recap of funding, mergers & acquisition, and partnership news from the human resource, recruitment and employee benefits marketplace is below. Mercer and PayScale Announce ‘Cloud and Crowd’ Strategic Alliance for Next Generation Compensation Data and Software Solutions; Mercer Makes Equity Investment in PayScale. Alera Group Acquires Group Benefits LLC. Optimizely Employees Donate 7 Times More to Nonprofits Using Causecast, New Case Study Finds.

Companies Use Pay Alternatives to Keep Employees Around

Compensation Today

Taylor, CPC, PHR, SHRM-CP, PayScale Senior Blogger It always seems as if one company tries to be progressive in terms of it’s compensation strategy, it shakes things up for the rest of the business world. Twitter recently announced that it would be releasing previously unreleased stock shares to the employee pool. This comes on the heels of somewhat stagnant growth and the company’s efforts to retain key employees with generous bonuses. Tess C.

Get More from Performance Reviews—Use Metrics to Link Pay

Compensation Today

Taylor, CPC, PHR, SHRM-CP, PayScale Senior Blogger Old methods of measuring performance once a year just don't work anymore. Take a look at some best practices for linking pay for performance during employee reviews. Many workers don’t understand the connection between pay and performance In the Towers Watsons’ Global Workforce Study , less than half of the 32,000 employees polled reported a link between their performance and what they were paid. Tess C.

The Dark Side of Total Compensation Communication

Compensation Today

Taylor, PHR, SHRM-CP, PayScale Senior Blogger The dark side of communicating total compensation doesn’t exist at all – only the resistance of change within organizations where there is no method of delivering this information. It’s not surprising that employees often have the misconception that they are underpaid, unappreciated, and that the competition has something better to offer—like Luke Skywalker being tempted by his father, Darth Vader, to join the dark force. Tess C.

Don't Miss this Summer's Hottest Compensation Events

Compensation Today

Taylor, CPC, PHR, SHRM-CP, PayScale Senior Blogger The summer months are just about to kick off and with the warmer weather comes new and exciting industry events. Attendees have the opportunity to meet leading HR software and technology suppliers and get advice on everything from employee benefits, performance management, OD, payroll systems and more. Tess C.

M&A Friday! This Week’s HR Deals and Trending #HotInHR News

Advos

Our weekly recap of fundings, mergers & acquisition, partnership and other interesting news from the human resource, recruitment and employee benefits marketplace. in Series B Funding to Transform Employee Service Experiences Through AI-Driven Automation. PayScale Announces Majority Growth Investment from Francisco Partners at an Enterprise Value of $325 Million. National Employee Benefits Provider Trustmark Announces Partnership with Plug and Play.

Dump Annual Staff Surveys: Real-Time Engagement is Here!

Compensation Today

Taylor, PHR, SHRM-CP, PayScale Senior Blogger In a bold move, KPMG, a global professional services firm, has opted to dump its annual employee engagement surveys for good—relying on the theory that annual employee surveys are passé and real-time data is the new way of measuring the true engagement level. David Godden of Thymometrics advises that when it comes to using real-time data to make business decisions that impact employee engagement, “It’s all about reaction times.

M&A Friday! This Week’s HR Deals

Advos

Each week, with the help of HRmarketer Insight software , our researchers compile a sampling of mergers & acquisition, funding and partnership announcements from the human resource, recruitment and employee benefits marketplace. Insurtech Startup Hixme raises $14 million to fix workplace benefits. Perkbox, an employee engagement platform, picks up £2.5M OneDigital Health and Benefits Forms Partnership with MPC Becoming Exclusive Employee Benefits Provider.

Forget Happiness. Wellness Emerges as a Compensation Strategy

Compensation Today

Taylor, CPC, PHR, SHRM-CP, PayScale Senior Blogger Employee engagement has been a buzzword in the human resource world for a while. When employees are happy and engaged at work they tend to be more productive. Much of this has been focused on employee happiness as an indicator of a solid compensation program – the better employees are paid and the more perks they enjoy; the greater their happiness should be, right? Tess C.

Regulatory Compliance Dictates HR Best Practices

Compensation Today

Taylor, CPC, PHR, SHRM-CP, PayScale Senior Blogger This year, we’ve seen a number of new government rules surrounding pay equity and salary transparency developing. If you want to learn more about ways you can best manage regulatory compliance during these times of change, be sure to read our free downloadable reports available to you on demand from PayScale. Tess C.

Quality Hires Take Front Stage. What’s the Catch? Paying Them Well

Compensation Today

Taylor, CPC, PHR, SHRM-CP, PayScale Senior Blogger You may recall PayScale’s Turnover: The Good, the Bad, and the Ugly whitepaper in which we closely examined the reasons why employees leave otherwise good workplaces, and dispelled some common myths. What matters most to employers is why employees stay, and this comes from certain generational values and desires. The debate over how closely money is tied to employee satisfaction has been brewing for eons.

Yes! 8.8 Million Workers are Getting a Raise!

Compensation Today

Taylor, CPC, PHR, SHRM-CP, PayScale Senior Blogger Literally just hours after California’s Governor Jerry Brown announced that the state minimum wage was increasing to $15 per hour by 2022, the Governor of New York, Andrew Cuomo held a press conference to announce that the Big Apple was following suit. Nearly 73% of employers believe they are paying employees adequately, but only 36% of employees think so. Tess C.

The Pros and Cons of Focal vs. Anniversary Merit Raises

Compensation Today

Taylor, PHR, SHRM-CP, PayScale Senior Blogger Shifting merit increases from employee anniversary dates to a focal point system may be an option for companies that want to connect performance with pay. While it can raise concerns for employees initially, there are multiple advantages of changing salary increases to correspond with actual performance metrics. The problem with anniversary salary increases is that employees learn to expect a raise rather than earning one.

Be a Unicorn. What Your Compensation Package Says About Your Business

Compensation Today

Taylor, CPC, PHR, SHRM-CP, PayScale Senior Blogger It can be impossible for Human Resource pros to see things from an objective standpoint when we are so connected to the people and processes of our organizations. However, it’s critical to take a step back once in a while to view things from the perspective of employees and future hires. Be Competitive —If you want to be known for offering the best compensation package to employees, then position yourself as being the best.

3 Key Talent Acquisition Jobs Explained

Digital HR Tech

In the Netherlands, according to PayScale, the average talent acquisition manager salary lies around €51,000. Payscale estimates the average salary for a US-based Talent Acquisition Specialist is $56,309 , as of April 2020. Talent acquisition jobs come in various shapes and sizes.

Are Standing Desks Now a Must for Total Rewards Packages?

Compensation Today

Still, I would have considered the ubiquity of standing desks to be a “Seattle” or “tech” thing before reading this StarTribune article that says, according to a June report from SHRM, that standing desks have become the fastest growing employee benefit in the U.S. If you’re not offering standing desks, are you now not meeting baseline employee expectations? I covered this back in June — we asked employers about their employees’ favorite benefits and perks.

M&A Friday! This Week’s HR Deals

Advos

Each week, with the help of HRmarketer Insight software , our researchers compile a sampling of mergers & acquisition, funding and partnership announcements from the human resource, recruitment and employee benefits marketplace. Central Network Retail Group Boosts Efficiency, Ends Noncompliance and Banishes Paper with PlanSource Benefits and HCM Technology. United Benefit Advisors Welcomes New Partner Firm Davis Pacific Benefits. Happy Friday.

3 Practical Tips to Prepare for Salary Planning

HRsoft

According to an article in Employee Benefit News , companies can benefit from pulling data from a range of sources, such as crowd-sourced pay data from tools like PayScale as well as other outside surveys. Many employers have shifted to variable pay for a greater percentage of their employee population in recent years. With that said, most employees respond best to a mix of extrinsic and intrinsic motivators.

M&A Friday! This Week’s HR Deals

Advos

Each week, with the help of HRmarketer Insight software , our researchers compile a sampling of mergers & acquisition, funding and partnership announcements from the human resource, recruitment and employee benefits marketplace. PayScale acquires Denver salary data company. Chesapeake Public Schools Helps Employees Stay Healthy with New Partnership with Marathon Health. Happy Friday.

Total Reward Statements—Show Employees You’re Invested in Them

HR Daily Advisor

A valued employee is a retained employee. Attractive and able to retain and motivate employees. Structured to align employee efforts and business objectives. Help is available in the free white paper from PayScale, Attack of the Out-of-Date Comp Plan. Total reward statements: Are personalized statements listing everything that comes from the organization to the individual employee. Leave benefits (number of days off). Insurance benefits.

5 Tips for Recruiting More Women in Leadership Roles

Ongig

Employee referrals can be a powerful tool, but setting externally focused diversity goals can be too. Payscale recently reported that: “In 2020, women earn 81 cents for every dollar earned by men.” The State of the Gender Pay Gap 2020 (by Payscale).

Top M&A News in the HR, Recruiting and Benefits Space | 2016

Advos

M&A Announcements in the HR, Recruiting and Benefits Space | 2016. Sign-up to get our weekly recap of funding announcements, M&A and partnership news from the HR technology, recruitment, talent management and employee benefits space. NFP Acquires Group Force Benefits, Inc. TriNet Acquires Teleborder; Expands Services for Companies Hiring International Employees. PayScale acquires Denver salary data company. Digital Benefit Advisors Acquires USBC.

AON 68

How to Make Sure They Accept Your Job Offer

Compensation Today

You spent time and money carefully selecting your next star employee. You never know what little benefit or perk will strike a chord with your candidate. When developing your offer, assume that everything you do for your team is worth mentioning, from the group health benefits to the Friday morning bagels. According to a recent survey by Randstad, 64 percent of Canadians rank competitive salary and employee benefits as the most important factor when job hunting.

Are You Being Paid What You're Worth?

Dr. Nadine

Don’t overlook perks When negotiating compensation, many executives are laser-focused on salary levels and overlook the importance of perks and other benefits. According to a report released by Northwestern Mutual, salary typically accounts for only 70% of an employee’s total compensation. The remaining 30% is comprised of perks and other benefits. Perks and benefits can quickly accumulate. One of the most crucial benefits to consider is health coverage.

IT Job Satisfaction: 6 Keys to Keeping Your Top IT Talent

Spoke

When you struggle to replace employees who voluntarily leave the company, there are negative impacts to productivity, customer service, information security, and profitability. Employee loyalty is essential to your success. Satisfied employees are less likely to look for new work and less likely to consider other opportunities. To improve retention and loyalty and avoid the struggles that come with recruiting new employees, focus on boosting job satisfaction.

The Source: Weekly Roundup – April 8th, 2019

PlanSource

Welcome to The Source, your one-stop-shop for the latest and greatest HR and benefits news. Our weekly publication highlights this week’s top stories in human resources, benefits administration, insurance, legislation and more to make sure you can stay on top of industry trends and changes. In this week's edition, we discuss how top-tier employers are managing their benefits, common misconceptions about the gender pay gap, a new study about Generation X and more!

Questions for Budgeting Season

Compensation Today

Equity Adjustments – do you have any compliance or compression issues you need to fix at the employee level, or other ways that you may not be paying fairly according to your plan? PayScale’s Insight and Benchmark products can set up job-based ranges with the click of a button based on market data points. Range Penetration is how far an employee has progressed through the pay range. Base Pay Adjustments for Employees. If you want to retain the employee, talk about it.

The Source: Weekly Roundup – April 1st, 2019

PlanSource

Welcome to The Source, your one-stop-shop for the latest and greatest HR and benefits news. Our weekly publication highlights this week’s top stories in human resources, benefits administration, insurance, legislation and more to make sure you can stay on top of industry trends and changes. 5 Cybersecurity Best Practices For Anyone With Remote Employees. Estimates indicate that more than one-third of employees will work remotely in the next 10 years. .

Conference Twitter Primer #HRtechConf 2018

Advos

Deloitte’s Human Capital practice digital leader and global practice leader for HR Strategy & Employee Experience. Crazy about employee engagement and culture – and off the beaten path travel, trail running, big red wines & my family. CoxEnterprises : Leading communications, media & automotive services company; over $20B revenue & nearly 60,000 employees. With 16,000 employees and over 90,000 customers, Infor software is designed for progress.