31 Dec Corporate Social Responsibility: What Is It & Who Cares About It?
The primary focus of business has always been to make a profit. Yet, a new school of thought has recently emerged: What if corporations could also play a role in...
27 Dec Does Your Company Have a Social Responsibility Report?
According to an HRsoft webinar survey, just over half of HR and compensation professionals polled have read their company’s social responsibility report. More than a third - 38% - of...
24 Dec How to Get Started With Compensation Design
Oftentimes when managers discuss pay with their employees, they encounter questions for which they may not have an answer. Employees want to know that they are receiving fair pay for...
20 Dec How to Maintain a Competitive Pay Philosophy
Only 36% of employers have a formal compensation communications program, according to an HRsoft poll. However, this is something all organizations should have, because a compensation plan is only effective...
17 Dec Linking Compensation & Performance Management
The overarching goal of the compensation strategy is to make sure an organization has the right amount of money necessary to motivate the types of performance needed to achieve the...
13 Dec The 4 Phases of Compensation Design
Following a prescribed compensation design process can help an organization achieve a balanced and successful pay plan. While each company may need to tweak their methodology slightly to align with...
10 Dec Tips for Developing a Powerful Compensation Philosophy
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...
06 Dec The Key Principles of Compensation
For the majority of organizations, the core principles of compensation involve striking a balance between paying in a way that is externally competitive and internally fair. Yet, there are many...
03 Dec How to Link Business Strategy to Compensation Strategy
For a company’s compensation strategy to be effective, it must be linked to the overall business strategy. Because compensation accounts for 30-60% of business costs, it is essential for organizations...
12 Nov 4 Practical Tips for Bonus Planning
Mastering the art of bonus planning is no easy feat. It requires the thoughtful consideration of many complex variables. Although the approach that works best for one organization may not...