In recent years, investors have begun to focus on organizations’ corporate responsibility, and employees are also growing increasingly concerned with a company’s commitment to environmental, social, and governance factors. This...
Conscious Compensation® helps companies move from the traditional, capitalist approach to compensation towards practices that are more socially responsible. It has been developed in response to expectations from employees, investors,...
The primary focus of business has always been to make a profit. Yet, a new school of thought has recently emerged: What if corporations could also play a role in...
According to an HRsoft webinar survey, just over half of HR and compensation professionals polled have read their company’s social responsibility report. More than a third - 38% - of...
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...
Only 36% of employers have a formal compensation communications program, according to an HRsoft poll. However, this is something all organizations should have, because a compensation plan is only effective...
The overarching goal of the compensation strategy is to make sure an organization has the right amount of money necessary to motivate the types of performance needed to achieve the...
Following a prescribed compensation design process can help an organization achieve a balanced and successful pay plan. While each company may need to tweak their methodology slightly to align with...
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...