Compensation management is inherently complex, but the ways in which we approach it don’t have to be complicated. In fact, some of the most powerful methods for managing employee pay are also the simplest. While you may be familiar with many of the following principles, revisiting them can help reframe your compensation priorities and practices. […]
The needs and expectations of today’s workforce are more diverse than ever. To keep employees engaged and to reward them appropriately, organizations must use robust compensation programs that go beyond base pay to factor in elements of total rewards. As compensation becomes increasingly complex, it’s essential to leverage tools that support streamlined processes and simplified […]
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 their contributions, so they may wonder how their pay is linked to performance, how it compares to other salaries within the company, and likewise, how […]
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 poll reveal 92% of companies focus on base pay first. While there is nothing wrong with beginning with other components of compensation, it is a […]
One of the things I really enjoy in my spare time is taking on Do-It-Yourself projects.
If your company has an advanced IT team or software developers, you may be considering building compensation software to fit your organization’s evolving needs. Yet, any time a new technology initiative is on the horizon, most business leaders find themselves facing the build versus buy debate. Should you consider purchasing compensation planning software instead of […]
