When executed effectively, bonus administration can incentivize improved performance. It also provides the recognition most employees seek, which can support employee engagement and help you retain your top talent. However,...
Workforce challenges vary by industry, location, and other differentiating factors, but rising employee turnover rates affect virtually all employers. Here, we’ll take a look at why turnover is such a...
Variable compensation is a way of paying employees based on their individual performance or that of their team. BusinessDictionary notes that variable pay is also sometimes called “pay at risk,”...
Keeping an eye on compensation management trends can be helpful for HR professionals as they strategize and develop pay plans for their own organizations. As we head into a new...
Compensation refers to what employees are paid in return for their work; there’s no arguing against that concrete definition. Yet, the meaning of compensation can still vary from one employee...
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...
Employee recognition is critical to keeping the right people on board, achieving business outcomes, and driving employee engagement. Additionally, the HR Council of Canada says that recognized employees are better...
Getting compensation management right is critical to maintaining a successful organization. There are many crucial factors which depend on your company’s ability to manage compensation effectively, including job satisfaction, motivation,...
Compensation planning on its own is a complex topic. A robust compensation framework must be internally equitable, externally competitive and compliant with pay and labor laws. Incentive compensation planning takes...
Focusing on salary no longer cuts it for most organizations around the world. With talent becoming more and more elusive, it is important for companies to differentiate themselves on the...