In recent years, dramatic shifts have taken place across the economy, and these changes have caused ripple effects in the ways we’re paying employees. While factors like low unemployment support...
The compensation management process lays the foundation for a company culture that recognizes and rewards strong performance. When done correctly, it ensures employees are paid fairly and have the incentives...
Today a search for compensation definition will yield results such as “topics in regard to wage and/or salary programs and structures,” or some variation of that phrasing. Yet, compensation meanings...
To design an effective compensation plan, you must manage a complex set of variables. This is further complicated by the fact that compensation has its own unique set of goals:...
Indeed.com recently revealed its list of top-rated workplaces for compensation and benefits. Year after year, many of the same employers tend to make the list, leaving professionals to wonder: what...
The ability to understand your company’s compensation definition, or the way pay is calculated, is important for employee satisfaction. Because compensation meanings and calculations can differ in every company, your...
Enterprise compensation management (ECM) refers to the ways in which pay policies are administered, organized, and automated in companies. Because compensation accounts for a significant portion of overall business costs...
Determining whether there is a gender pay gap and taking appropriate measures to address it has become an increasingly important priority for companies across the U.S. There are many reasons...
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...
Compensation solutions use technology and automation to address some of the most complex compensation management challenges. And, oftentimes one of those challenges is managing pay plans for different groups of...