• Does your management team deliver compensation that counts?

    compensation that counts image

    Here’s something to ponder. How well is your compensation planning keeping up with the needs of your employees? If you’re like many other employers, you’ve done your best to stay current with cost of living index updates and changes to employee benefits, and you’ve maintained a fairly productive workforce through careful recruitment and training initiatives.

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  • Compensation gets a makeover due to new voluntary benefit options

    Compensation Gets a Makeover image

    Let's face it. Candidates are looking for the best possible compensation they can grab out there in the job market. If an employer wants the best people on their team, they are tasked with researching and offering above-average salaries, benefits, and a work culture that will leave them drooling.

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  • When hiring heats up, so should compensation offerings

    Hiring heats up image

    Having a strong business means hiring the best talent on the market. This is a given. But winning that talent comes down to making a compensation offer so sweet they won't even think about going to your competition. And this also goes for developing employee loyalty later down the road. Without a well-designed compensation strategy, your business wont get the kind of people onboard that you need to expand operations.

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  • 6 things employees REALLY think about their pay

    What do employees think of pay image

    Crystal Spraggins, SPHR

    “Cash is King.”

    “Money walks, the rest talks.”

    “Money makes the world go ‘round”

    We’ve all heard these sayings hundreds, if not thousands, of times. Money is important, period. Even those not motivated by money need it and recognize its value.

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  • Four raises a year

    Four raises a year image

    Tessara Smith,  PayScale

    One of the latest trends in employee compensation and motivation is giving employees four (small) raises a year as opposed to one large raise. Many companies have become strong proponents of this innovative payment strategy and executives are dumping the annual salary review in favor of giving out raises and bonuses a couple times per year. This begs the question, are quarterly raises a good idea for your company?

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  • How modern are you?

    header_Ventana_SnapApp

    Laleh Hassibi, PayScale

    Confidence in compensation practices is shaky at best at most businesses. At the same time, the nature of workforces and employment is evolving rapidly, and organizations need to work hard to keep up. Getting and keeping the best talent is becoming more competitive each day, and that same talent increasingly knows exactly what they are worth in today’s competitive market with access to online salary information.

    In order to win today’s talent wars, organizations need timely information and a modern approach to compensation management. How does your company stack up?

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  • Seven signs your compensation strategy needs a do-over

    header_HR_Strategy_DoOver

    Perhaps no area of human resources is as uncomfortable to talk about as the annual compensation update with the executive team. It seems as if every HR manager is tasked with proving that an improved compensation offering is good for business.

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  • Are Your Starting Rates Supporting Employee Performance?

    header_higherrates

    In the grand scheme of things, how well you compensate employees from the start can influence both the short and long-term performance of your work teams. When employees know that they work for an employer that values their contributions with a transparent salary policy that reflects this, a beautiful thing happens. Work becomes more rewarding in a tangible way. Salary isn’t a sore point, but rather a demonstration of support for the efforts of employees at all levels.

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  • Modernizing compensation management

    header_ventana

    Laleh Hassibi, PayScale

    A white paper released by Ventana Research called “Modernizing Compensation Management” calls for a new approach to compensation management to ensure organizations remain competitive in today’s volatile economy. Ventana Research found that 58% of businesses expressed some level of dissatisfaction with their current compensation manage­ment solutions and half of the respondents lack confidence in their company’s overall compensation processes.

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  • Employee stack ranking - motivation or manipulation?

    header_Pay

    Jessica Miller-Merrell, blogging4jobs

    One of the most important responsibilities of an HR manager is to find the right way to motivate employees. On the surface this can seem like a simple task, one that can be checked off your list with a few compliments, maybe a bonus or even a promotion. But when you get in the trenches with these employees you wish to motivate, you’ll see that the day-to-day motivators for employees vary greatly from person to person, making it tricky to determine what type of system will best fit the employees who are a part of it and the organization as a whole.

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  • 3 tips to handle compensation in the startup environment

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    Jessica Miller-Merrell, blogging4jobs

    Startup businesses are some of the most exciting ventures to be involved in but they bring with them unique challenges and many, many lessons to learn along the way. Some of the toughest things to handle are staffing your company, managing personnel and handling compensation. Given the fact that a single person or even the business owner typically handles compensation, there can be some hurdles to jump over as you navigate your way through managing compensation in a startup.

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  • What if your co-workers knew how much you make?

    header_Buffer

    Evan Rodd, PayScale

    We’ve talked a bit about social transparency – the dawn of a new social media age in which previous ideas of privacy seem to be rapidly changing. While many of us seem more than happy to share just about every aspect of our lives online, one component still remains taboo for many – salary.

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  • Q and A from PayScale webinar series: Compensation Budgeting

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    Mykkah Herner, M.A., CCP, PayScale

    PayScale recently hosted a three-part webinar series all about Compensation Budgeting, presented by yours truly. Part one was all about managing pay inequities. Part two taught attendees all about raises, and part three showed how to pull it all together using PayScale Insight. If you missed any of the webinars, you are welcome to view the recordings. Since this is a topic of interest to so many of our Compensation Today readers, we're posting my answers to many of the questions received after the webinars here. Enjoy!

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  • Effective bonus compensation plans for temporary seasonal staffers

    header_SeasonalWorkerBonuses

    Each year, thousands of companies make the decision to hire temporary workers to augment their human capital resources during peak production cycles and busy seasons. According to the most recent figures from the US Department of Labor Bureau of Labor Statistics, nearly 2 million people are employed as contingency workers in a wide variety of temporary and seasonal assignments. Additionally, organizations in the manufacturing, retail, and hospitality markets rely heavily on the use of temporary and seasonal staffers.

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  • 23 answers about compensation analytics and the ROI of turnover

    header_ROI_Turnover

    Mykkah Herner, M.A., CCP, PayScale

    PayScale recently hosted a wildly popular webinar entitled Compensation Analytics: The ROI of Turnover, presented by me, Mykkah Herner. If you missed the webinar, you are welcome to view the slides from the presentation. Since this is a topic of interest to so many of our Compensation Today readers, we're posting my answers to many of the questions received after this webinar here.

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  • Budgeting Employee Compensation Like You Would Your Personal Budget

    header_Budget_Work_Home

    Jessica Miller-Merrell, blogging4jobs

    Most people tend to view their personal and corporate budgets in very different ways, even though the basic principles of both are the same. To create a budget, no matter what type of budget it is, you have certain amount of money you need to work within and specific expenses that need to be included. So if the principles of both are so basic and similar, it would only stand to reason that the same budgeting wisdom you use at home could also be adapted to the budget you create at work also.

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  • Stock options won't go the way of the Dodo Bird

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    Dan Walter, Performensation

    An August 27, 2013, there was an article in the Wall Street Journal titled “Last Gasp for Stock Options?” The writer, Emily Chasan, starts the article with this sentence: “Stock options are on the verge of extinction.” Since Emily just came out and said it, I won't bury the lead either.

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  • Is Compensation at Your Company a Shot in the Dark?

    header_ShotInTheDark

    Chris Schave, PayScale Account Executive

    Throughout my time at PayScale I have had discussions around compensation with hundreds and possibly even thousands of HR Professionals, Managers, and Executives. At this point, I’m not really surprised by a whole lot. Some companies have no compensation plan, structure, or strategy, while others have one, but it’s based on shifty compensation practices. There are actually some who are highly sophisticated and know exactly what they are doing and why they are doing it, but that’s not as common as the other two scenarios.

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  • 5 Ways to Improve Your Compensation Strategy

    header_CorporateWellness

    Tess C. Taylor, PHR

    Years ago, a college graduate had a long-term future and a pension plan with a single company to look forward to. Nowadays, however, the average life-span of a career is determined by the performance of the company. In uncertain times, working professionals are seeking compensation that’s outside of traditional salaries and retirement perks. They are looking for a compensation strategy that’s based on their individual contribution and competency.

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  • Managing Employee Pay with Ranges

    header_PayRanges

    Mykkah Herner, MA, CCP; Manager of Consulting Services at PayScale

    I spend quite a bit of time working with people to develop appropriate structure for their organizations. How many grades should they have? How wide should the ranges be? How can I make sure my ranges are aligned to the market? I’ve written before about pricing based on the job vs pricing based on the employee, which is a very strategic step forward for the organization. The question is, once you build your ranges around the market, how do you determine where to place your employees within range?

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