The Definition of Compensation Management: In simple terms, compensation is everything that a company offers its employees in return for their talent and time. When organized the right way, compensation...
Compensation statements, also sometimes referred to as employee benefit statements or total reward statements, give employees an in-depth look at how they’re being rewarded. While some employers view them as...
One important component to building a competitive compensation plan is establishing a Pay-for-Performance model. Here, I share why a Pay-for-Performance model might be useful for your organization, as well as...
The precise total reward system definition is something that varies depending on where you look. While each organization may define it differently, understanding what it means to your company will...
How can I motivate, engage and retain employees? This is the million-dollar question faced by most managers today. With the competition for top talent heating up, figuring out a way...
Most HR professionals already understand the most common objectives of compensation management: the idea is to pay your employees fairly while staying in line with the company budget. However, understanding...
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...
Managers and executives know that to retain high performers, they need to offer a competitive salary that adequately reflects the business climate of their industry. But what else can you...
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...
Career development is an important component of total rewards, and it’s the biggest driver of engagement among Millennial employees. It gives the employee a clear roadmap which details what they’ll...
