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...
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...
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...
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...
Compensation planning software delivers a number of benefits for companies that use it. With the ability to simplify calculations through tools like automated currency conversions, approval hierarchies and workflows to...
Designing a total rewards program can be a complex endeavor for many employers. It requires a thoughtful blending of company culture, management philosophy, employee value proposition, and business strategy. There...
Beyond focusing on base pay, bonuses, and long-term incentives, employers have become increasingly creative in offering non-traditional perks within recent years. These added benefits can be monetary or non-monetary, immediate...
While base pay is typically considered the most important component of compensation as it is the largest cost, other elements of total rewards deserve consideration as well. STIs/bonuses, benefits, and...
After the initial assessment of design plan considerations for creating a total rewards package, most employers choose base pay as an ideal starting point. In fact, findings from an HRsoft...
When it comes to designing a total rewards program, it is important to ensure that it reflects the unique culture, goals, and management philosophy of your company. Therefore, careful planning...