Traditionally, Excel spreadsheets were the go-to tool when managers need to craft compensation plans. Spreadsheets get the job done because they can store data in a table and present them in a fairly readable manner. However, every experienced compensation manager knows that there are limitations to using spreadsheets, and that solely depending on spreadsheets […]
Compensation is the reward given to employees in return for their services rendered and it is often the cornerstone of a productive workforce. The quality and performance of your company’s talent pool is usually directly dependent on how well you execute your compensation planning strategies.
The Impact of Compensation on Employee Performance
A compensation package does […]
Compensation to an employee often refers to both the monetary and non-monetary benefits that a company provides in recognition of his or her services. Compensation planning should focus on 3 things:
1) Engagement – Compensation is often directly related to employee job satisfaction and engagement level. According to surveys conducted, quality compensation planning positively impacts […]
Not too long ago, compensation planning was a job that’s fairly administrative in nature. But today, more and more companies are beginning to realize that utilizing and managing compensation data can also be a big strategic move that benefits the company as a whole. Compensation can be strategic. In fact, it needs to be […]
HR departments no longer simply function in a one dimensional way. Gone are the days where the role of HR departments revolved only around crunching numbers. Today’s HR is rapidly evolving into a multifaceted department where many strategic decisions are made for the whole company. This increased level of complication requires a host of […]
In this episode, Brian interviews Bruce Johanson, Principle Partner and Co-Owner of Johanson Group & DB Squared, LLC, a HR/Compensation Software company. Bruce focuses on how to create a compensation & benefits philosophy statement for your organization.
Bruce Johanson is a Principle Partner and Co-Owner of two Fayetteville, AR-based companies, Johanson Group, a HR/Management consulting […]
What are Compensation Management Systems & how can they improve your bottom line?
Every dollar that is invested in proper and efficient complex management systems that address the administering of payroll, benefits and other compensation almost guarantees at least a doubled return on investment. Employee compensation paradigms seem to become increasingly more complex as each year […]
Once you’ve hired the best people for your company, you want to make sure they’re dedicated, engaged and satisfied within their positions. It’s not always easy to win the battle for talented employees, so it is important to take the proper steps to realize their needs in terms of compensation. Proper compensation management and administration is […]
Compensation is a key ingredient in the success of any business. Employers are well aware of the importance of compensation….being able to hire quality employees, keeping and motivating top talent.
At a certain point, many employers find the planning of compensation to align with the company’s goals gets overly burdensome. Having proper tools to help […]
For millions of college basketball fans around the country this time of year is known simply as March Madness. It is a time to build your tournament brackets and root for your favorite teams (or at least the ones you picked).
For compensation professionals around the country, March Madness has a whole new meaning. For […]