19 Sep What is the Rule of Threes & Why Does It Exist?
The Rule of Threes is a simple yet powerful approach to incentive planning. It provides guidelines help organizations maintain a healthy degree of control over incentive pay, yet allow for...
compensation management software solutions Tag
04 Apr What to Look for in the Best Compensation Management Software for 2019
Technology evolves quickly, as do the needs of your organization. The best compensation management software should therefore leverage up-to-date technology and have the ability to scale with your business. As...
01 Apr 4 Questions Enterprise Compensation Management Should Answer
Enterprise compensation management (ECM) refers to the ways in which pay policies are administered, organized, and automated in companies. Because compensation accounts for a significant portion of overall business costs...
26 Mar The Pillars of an Effective Compensation Management Process
The overarching objective behind your organization’s compensation management process is to pay your employees fairly without exceeding its budget. Yet, beyond this primary goal lie important pillars, each of which...
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...