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...
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...
Mastering the art of bonus planning is no easy feat. It requires the thoughtful consideration of many complex variables. Although the approach that works best for one organization may not...
Compensation management is the process of developing and administering employee pay. While salary is typically the first thing that comes to mind when we think of compensation, the reality is...
Compensation is the way in which you reward employees in exchange for their services. Not only is it the foundation of a productive workforce; it can also be used to...
Compensation planning software delivers a number of benefits for companies that use it. With the ability to simplify calculations through tools like automated currency conversions, approval hierarchies and workflows to...
The gender pay gap presents a complex challenge for employers. While there are many historical, political, and cultural forces at play, these must be balanced with accurate and relevant data....
Although they have conducted compensation surveys since the 1970s, Western Management Group (WMG) has never collected gender data in the U.S. In recent years as the gender gap issue gained...
For decades, compensation surveys have been the leading source where employers could go to learn about pay dynamics in the marketplace. Yet, until very recently, surveys have not included gender....
It has not been quite 100 years since the 19th amendment was ratified, giving women the constitutional right to vote. Now, after nearly a century, the U.S. still has catching...