• Companies Use Pay Alternatives to Keep Employees Around

    Header_PayAlternatives_MainTess C. Taylor, CPC, PHR, SHRM-CP, PayScale Senior Blogger

    It always seems as if one company tries to be progressive in terms of it’s compensation strategy, it shakes things up for the rest of the business world. One such company is Twitter. Twitter recently announced that it would be releasing previously unreleased stock shares to the employee pool. This comes on the heels of somewhat stagnant growth and the company’s efforts to retain key employees with generous bonuses.

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  • Regulatory Compliance Dictates HR Best Practices

    Header_Compliance_MainTess C. Taylor, CPC, PHR, SHRM-CP, PayScale Senior Blogger

    This year, we’ve seen a number of new government rules surrounding pay equity and salary transparency developing. This puts a strain on human resource compensation managers and how they must adapt compensation policies. How well HR can keep up with these changes will dictate the future of compensation planning across all organizations.

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  • A Magically Delicious Comp Strategy

    Header_StPattys_Main Mykkah Herner, MA, CCP, Modern Compensation Evangelist, PayScale

    Saint Paddy’s day has many in the mood for parades, green beer, and donning shamrocks. But for me, well, I’m ready for a big ‘ol bowl of Lucky Charms, in honor of their 52nd birthday. I remember fondly the year they added purple horseshoes. That was the first year I realized that things could change. Not just any old things like presidents and countries, but important and established things like pink hearts, orange stars, yellow moons, green clovers and blue diamonds. In fact, the only marbit (the official name for the marshmallow charms) that remains from the original cereal in 1964 is the pink heart. Like Lucky Charms, compensation needs to stay fresh.
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  • Forget Happiness. Wellness Emerges as a Compensation Strategy

    Header_Wellness_MainTess C. Taylor, CPC, PHR, SHRM-CP, PayScale Senior Blogger

    Employee engagement has been a buzzword in the human resource world for a while. It’s just common sense. When employees are happy and engaged at work they tend to be more productive. Much of this has been focused on employee happiness as an indicator of a solid compensation program – the better employees are paid and the more perks they enjoy; the greater their happiness should be, right? Not so much. Our 2016 PayScale Compensation Best Practices Report indicates that 73 percent of employers believe they are paying fairly, but only 36 percent of employees agree. Interestingly enough, some employers are shifting to creating overall physical and financial wellness for employees, and earning a better ROI. What’s this all about?

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  • Lessons from Yelp: How Transparent Pay Practices Motivate Employees

    Header_Yelp_Main Mykkah Herner, MA, CCP, Modern Compensation Evangelist, PayScale

    Along with thousands of other people, I read Talia Jane’s open letter to her CEO with mixed emotions. Long story short, she wrote an in-depth blog, directed to the CEO of Yelp, describing the many ways that the pay for her entry-level job at Eat24/Yelp fell short of allowing her to pay for a car, apartment, and food. One of my colleagues posted a great analysis of the range of responses felt by employees across the generations. Her post got me thinking about the ways that Eat24 could have done a better job engaging Jane before it got to this point, because let’s be real—this point was way too far for her to actually be engaged in the core responsibilities of her job. What are the best steps to take to seek to prevent such dissatisfaction?

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  • Quality Hires Take Front Stage. What’s the Catch? Paying Them Well

    Header_Front_Stage_MainTess C. Taylor, CPC, PHR, SHRM-CP, PayScale Senior Blogger

    You may recall PayScale’s Turnover: The Good, the Bad, and the Ugly whitepaper in which we closely examined the reasons why employees leave otherwise good workplaces, and dispelled some common myths. What matters most to employers is why employees stay, and this comes from certain generational values and desires. For example, our research indicated that for Millennials, flexible working hours supersede starting salaries, but for older workers the chance to put away money in a retirement fund is much more attractive.

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  • The Free Trap: Why Free Data Isn't All It's Cracked Up To Be

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    Kari Van Hoof, CCP, PayScale Compensation Professional

    The internet is a great and wondrous thing, where with just a few key word searches, you can find anything and everything, including pay data. But is typing “software engineer salary” into your search engine and then using the information you find really the best way to figure out what to pay for your jobs? Here are five questions to consider if you’re thinking about using free salary data to make pay decisions.

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  • Your Special Relationship with an HCM Vendor—How to Find Your Perfect Match

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    By Paige Hanley, CCP, PayScale Compensation Professional

    Deciding to partner with an HCM vendor can feel a lot like being single—working your way through the dating pool to find your future spouse. As we approach Valentine’s Day, PayScale is here to give you a few tips and some guidance on how to navigate the various players you’ll interact with during this speed-dating to wedding planning process.

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  • You're Overpaying. Now What?

    Header_Overpay_MainJenni Marquez, CCP, PayScale Compensation Professional

    Just discovered that a large portion of your workforce is overpaid compared to the market and not sure what to do? Read through our helpful guide on what can trigger overpayment, correcting the problem, and how to avoid going in the red altogether.

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  • Are Promotions Leaving Your Employees Feeling Short Changed?

    Header_ShortChanged_Main Rita Patterson, Onboarding Manager, PayScale

    A recent NY Times article addressed a question on the subject of feeling short changed by a pay raise that went hand in hand with a promotion. In this article, the questioner remarks that their friend has been recently promoted and "asked for the same salary she thought others at this new level received", however, after salary negotiations, the reader's friend still walked away "feeling slighted".

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  • Be a Unicorn. What Your Compensation Package Says About Your Business

    Header_Unicorns_MainTess C. Taylor, CPC, PHR, SHRM-CP, PayScale Senior Blogger

    It can be impossible for Human Resource pros to see things from an objective standpoint when we are so connected to the people and processes of our organizations. However, it’s critical to take a step back once in a while to view things from the perspective of employees and future hires. Compensation plays a major role here. The 2015 PayScale Compensation Best Practices Report revealed that a quarter of employers, “reported the inability to offer a competitive wage as a barrier to finding good people, which might explain why a whopping 78 percent claim to be only “somewhat” or “not at all” satisfied with their compensation structures.”

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  • Managing Comp during High Growth Phases

    Header_HighGrowth_Main Mykkah Herner, MA, CCP, Modern Compensation Evangelist, PayScale

    When organizations get into high growth phase, everything starts moving faster. Recruiting speeds up. Finding people desks to sit in rapidly becomes an unsolvable puzzle.Making sure every incoming person has a set-up complete with computer becomes a greater challenge.All the moving pieces that are tough to keep up with on a good day suddenly run the risk of falling through the cracks. Compensation is another thing you have to get right as you scale quickly. So how can you make sure you’re getting the comp equivalent of the right set-up as you grow?

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  • Dump Annual Staff Surveys: Real-Time Engagement is Here!

    Header_Dump_Annual_Surveys_MainTess C. Taylor, PHR, SHRM-CP, PayScale Senior Blogger

    In a bold move, KPMG, a global professional services firm, has opted to dump its annual employee engagement surveys for good—relying on the theory that annual employee surveys are passé and real-time data is the new way of measuring the true engagement level. According to Robert Bolton of KPMG, "This term ‘engagement’ is abused, it's misunderstood, it's not evidence based, and it's a minefield.”

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  • It's Time to Pour Your COLA Down the Drain

    Header_COLA2_MainRita Patterson, Onboarding Manager, PayScale

    Cost of living adjustments, or COLA, have been common practice for a while now, however, only 21% percent of employers indicated that cost of living adjustments were their main reason for giving raises in 2015.
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  • Myth Buster: Talking About Pay Could Incite an Employee Riot

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    PayScale


    If you aren’t talking with employees about pay, chances are they are talking to one another—creating their own story of your compensation philosophy. Not a good thing. PayScale surveyed more than 71,000 employees to study the relationship between pay and transparency.
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  • The Dark Side of Total Compensation Communication

    Header_DarkSide_MainTess C. Taylor, PHR, SHRM-CP, PayScale Senior Blogger

    The dark side of communicating total compensation doesn’t exist at all – only the resistance of change within organizations where there is no method of delivering this information. The 2015 PayScale Compensation Best Practices Report indicated that 57 percent of employers don’t give their employees a total rewards statement, which means many employees are clueless when it comes to understanding the total value of the benefits and compensation offered to them. It’s not surprising that employees often have the misconception that they are underpaid, unappreciated, and that the competition has something better to offer—like Luke Skywalker being tempted by his father, Darth Vader, to join the dark force.

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  • Myth Buster: People Don't Leave Their Jobs Because of Pay

    Header_Myth2_MainPayScale

    Busted! In 2015, the number one reason most people left companies was compensation. The majority of respondents to the PayScale Compensation Best Practices Report cited “seeking higher pay elsewhere” as the primary reason for leaving a company. Moral of the story? Money CAN buy you love.
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  • Myth Buster: The Truth About the Gender Wage Gap

    Header_Myth_Twitter

    PayScale

    Myth debunked! While a pay gap does exist, it is smaller than most people think. For women and men in identical roles, the pay gap is 2.7%. This myth originates from the fact that when all women’s jobs are compared to all men’s jobs, the pay gap widens to 74 cents on the dollar, aka 26%, but that is because more women work in lower-paying fields. Moral of the story? Forget the pay gap and focus on this jobs gap—bring more women into leadership roles and high-paying fields!

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  • Top 5 Insights from Last Year’s CBPR (plus take the new survey!)

    header_CBPR2015_MainJade Makana, Director of Content Marketing, B2B

    For those who don’t know, every year PayScale produces the Compensation Best Practices Report. This report is based on a survey administered to 100,000 human resources professionals and business executives, asking them their point of view on the biggest topics in human resources and compensation: everything from minimum wage and managing millennials, to recommending your favorite HRIS and payroll software. Last year, we got over 5,000 responses.

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  • ‘Tis the Season for Rising Health Care Costs – Managing Total Compensation Changes

    Header_RisingHealthCare_MainTess C. Taylor, PHR, SHRM-CP, PayScale Senior Blogger

    While everyone is out doing their holiday shopping and headed for parties, there’s an undercurrent of change coming that will affect nearly every American in 2016. Wages are up according to the most recent PayScale Wage Index findings, but these wages are going to have to be stretched even further because of rising health care costs. How will employers manage their total compensation strategy for the coming year in order to remain competitive?
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