With so many requirements to satisfy throughout the compensation management process, it’s easy to lose sight of the true purpose of compensation. Yet, being that it’s the very thing that...
Your company culture and brand can have a significant impact on the ways in which your current and prospective employees view your organization. They can also work for – or...
When your company adjusts is salary ranges, performing a compensation analysis enables you to make sure pay decisions align with both internal and external considerations, such as market trends and...
When implemented correctly, performance-based pay has the potential to be straightforward and effective. That doesn’t mean that it’s failproof, however. When organizations find that their performance-based pay plan fails to...
A few decades ago, a HR department’s main job in terms of handling employee pay was compensation calculation. There was a fixed base salary for a particular position and it...
A compensation philosophy aims to ensure pay is market-competitive and aligned to the business strategy. To support these two factors, there are six components, or goals, of compensation philosophy: Attract...
Where Do Compensation Management Systems Fit Within Your Company? The salary, benefits and paid time off your company offers to your employees is a vital part of maintaining a stable and...
The reason for developing a Total Rewards Communication system is pretty straightforward: you want a simple, effective way to relay information about employee benefits statements to your associates so that...
To be effective, every performance-based pay system must encompass a few key elements. These include clear objectives, a thorough performance process, and a tool to support your pay-for-performance initiatives. Learn...
The overarching objective behind your organization’s compensation management process is to pay your employees fairly without exceeding its budget. Yet, beyond this primary goal lie important pillars, each of which...
