17 Dec Linking Compensation & Performance Management
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...
Compensation Planning Software Tag
13 Dec The 4 Phases of Compensation Design
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...
10 Dec Tips for Developing a Powerful Compensation Philosophy
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...
06 Dec The Key Principles of Compensation
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...
12 Nov 4 Practical Tips for Bonus Planning
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...
08 Nov 4 Elements of Effective Compensation Management (Besides Base Pay)
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...
05 Nov 3 Things HR Compensation Professionals Need to Know About Employee Pay
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...
01 Nov How Compensation Planning Software Prevents Your Company from Losing Money
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...
04 Oct Key Recommendations for Addressing the Gender Pay Gap
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....
01 Oct Western Management Group Compensation Survey Results: Noteworthy Findings on the Gender Pay Gap & More
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...