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...
compensation management software solutions Tag
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...
01 Apr COMPview Net Promoter Scores for the 2017 – 2018 Cycle Released
COMPview is HRsoft’s cloud-based planning tool that allows clients to control their compensation process, sensitive and personal compensation data, and managers’ budget and guideline adherence. Here at HRsoft, we’re serious about...
08 Aug Does Compensation Transparency Really Matter?
Transparency: it seems to be a buzzword we can’t get away from, and it’s being increasingly applied to nearly every aspect of the workplace. In specific, there seems to be...
11 Aug The 5 Key Objectives of Compensation Management
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 the...