Pay structures can help companies move towards greater pay transparency. They can also be used as both an administrative tool and communication tactic for helping your employees understand potential career...
One question compensation teams often find themselves asking is how accurately their pay policies should reflect market rates. In most cases, employers believe their pay policy should align with market...
Pay structures, also known as salary structures, define different levels of pay for jobs in reference to: their relative internal value, external/market value, or negotiated rates (i.e., collective bargaining agreements). A...
Recently, modernizing pay ranges has become a major area of focus for companies. While the start of the year provides a fitting opportunity to evaluate pay practices and ensure the...
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...
Many organizations implement compensation management solutions as a way to simplify employee pay. Yet, there are far more benefits outside the simplification of processes alone. From making more informed, accurate...
There are many ways to incentive performance in an organization. Typically grouped together under the umbrella term “pay for performance plans,” employers may choose among merit programs, bonus options, and...
When implemented correctly, performance-based pay has the potential to be straightforward and effective. That doesn’t mean that it’s failproof, however. When organizations find that their performance-based pay plan fails to...
Performance-related pay, or pay for performance, is a financial rewards system in which all or some of employees’ monetary compensation is related to how their performance is assessed relative to...
In recent years, dramatic shifts have taken place across the economy, and these changes have caused ripple effects in the ways we’re paying employees. While factors like low unemployment support...