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...
08 Nov 4 Elements of Effective Compensation Management (Besides Base Pay)
Compensation management is the process of developing and administering employee pay. While salary is typically the first thing that comes to mind when we think of compensation, the reality is...
05 Nov 3 Things HR Compensation Professionals Need to Know About Employee Pay
Compensation is the way in which you reward employees in exchange for their services. Not only is it the foundation of a productive workforce; it can also be used to...