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 […]
Compensation management helps enterprise organizations ensure their compensation plans are competitive and fair. Here are five primary goals.
Your employees know how much they’re paid, but do they truly understand the full value of employment with your company? Chances are, they may not understand the “big picture” when it comes to the many ways you’re rewarding them. From paid time off to tuition reimbursement, compensation goes far beyond base pay alone. Communicating compensation […]
