• Would you pay more for industry certification?

    SPHR image

    In a market that’s still in the process of bouncing back from the ‘Not-So-Great’ Recession, some working adults are turning to industry certification programs to boost their marketability with employers. Many turn to e-learning programs, delivered through colleges and universities to earn certificates that prove they have the in-demand skills employers want. Still others are engaged in free and low cost certificate programs from industry associations and popular platforms like Udemy, Coursera, Lynda.com and more – many of which are taught by actual professors at accredited schools.

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  • #1 goal this year: get pay raises right!

    Get raises right image

    There’s a vicious cycle that happens in organizations across the globe. Each year, employees eagerly anticipate getting their performance reviews completed so that they can start benefitting from a much-deserved pay raise. But when the results come in, they are left wondering why they are being handed such a pathetic salary increase? It's enough to make a good employee walk out the door. Sadly, many do just that.

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  • Is your base pay falling short?

    Base pay falling short image

    Jessica Miller-Merrell, blogging4jobs

    When candidates apply for a job they generally dread seeing the three-letter acronym for pay on job requisitions, TBD. Employers, on the other hand, love being able to put this acronym because it creates a flexible environment where they can offer base pay based on experience alone if they’re not able to find the specific candidate they’re looking for. It’s clear that employers and employees think differently when it comes to offering any type of base pay.

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  • Finding the story behind the numbers: An interview with Tracey Smith from Numerical Insights

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    Crystal Spraggins, SPHR

    While some might argue that good decision making is as much art as science, there’s no question that good data, analyzed properly and applied strategically, can help organizations make better decisions more often than not. After all, perception has its limits.

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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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  • November 2013 software release – new Total Compensation Statement

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    Laleh Hassibi, PayScale

    PayScale’s November software release not only improves user experience and accuracy in entering labor market data, but also offers new ways to improve employee communication about Total Rewards. To follow, are a few of the highlights.

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  • The dangers of paying employees more than they’re worth

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    Crystal Spraggins, SPHR

    Believe it or not, it’s entirely possible to pay employees too much money.

    Even in this economy, it happens. It happens when employee performance consistently fails to meet expectation yet raises continue; when employees stay in entry- to mid-level positions too long; when employees reach their level of incompetence (i.e., The Peter Principle) yet aren’t developed or moved along; and when employees are paid too much to begin with, as a result of a weak or nonexistent wage administration policy.

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  • 23 answers about compensation analytics and the ROI of turnover

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    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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  • Now featuring: MarketWatch and Flight Risk email alerts and more!

    PayScale Product Updates

    Laleh Hassibi, PayScale

    The development team at PayScale is continually hard at work making product improvements and creating new worthwhile features for our customers. The September 26th, 2013 update brings PayScale customers a few enhancements that improve the usability of both Insight and MarketRate products. Here are the updates PayScale customers can look for the next time they log into the product:

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  • Now featuring: hybrid jobs and market trends reporting

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    Laleh Hassibi, PayScale

    We've been talking about purple squirrels a lot lately at PayScale but what if your organization has a Squirrelcorn – a totally unique job that is the hybrid of two different jobs? How would you price that job? Or what about the situation where some of your jobs are moving faster (or slower) than the general market? Are you able to stay on top of those jobs to ensure you're keeping up with the market and paying employees the right amount? Two new exciting features of PayScale's software can help you with these situations.

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  • Catching a Purple Squirrel in 3 Easy Steps

    Laleh Hassibi, PayScale

    Take the PayScale Challenge!
    Are you searching for a purple squirrel – you know, that elusive candidate who has all the qualifications and experience your job position requires? Or maybe you just lost a valuable employee to a competitor.  If you’re like most organizations, you spend between 30% and 50% of revenues – totaling millions of dollars a quarter – on compensation. Getting compensation right not only means having control over the bottom line, but getting and keeping star employees.

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  • Nail compensation with Insight Expert

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    Laleh Hassibi, PayScale

    PayScale is well known in the job seeker world as the place to go to find out what they should be paid. Many businesses also know PayScale for our fresh, detailed compensation dataset and our MarketRate product that gives market-based job reports. But did you know about that we also offer a software product called Insight Expert that can help you manage compensation for your entire workforce?

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  • Benchmarking Batman

    sc_batman_header

    Laleh Hassibi, PayScale

    HR managers dream of coming across that perfect candidate – the one who has the ideal set of experience, skills, education and other factors that make them a perfect fit for the job. They also struggle with retaining top performing employees. Kind of like Batman if the position has the job title of Superhero. According to this infographic, Batman has some significant costs associated with his job. The estimated costs to do his job have increased from $10,253 in 1939, to $134,735,100 in 2013. That’s a big change. Assuming Batman's proficiency in his job has increased similarly, what kind of corresponding raise should you give him and how would you even begin to figure it out?

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  • EMA Senior Care is getting smarter about comp with PayScale

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    Laleh Hassibi, PayScale

    EMA Senior Care a long-term care organization with approximately 850 employees. EMA is located exclusively in Maryland, with six locations across the state. PayScale interviewed Jim Donovan, Director of Total Rewards, to discover how PayScale Insight is helping them drive their business objectives.

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

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    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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  • Attracting Top Talent with Salary Benchmarking - Why It's Crucial to Your Business

    header_attracttoptalent

    Tess C. Taylor, PHR

    Despite the abundance of candidates on the job market today, hiring managers may still find it challenging to consistently attract high potential candidates. These are the elusive candidates who have outstanding credentials, stable work histories, and a drive and determination that far exceeds that of their peers.
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  • Pricing to the Employee vs. Pricing to the Job

    Blog_header_PricingJobandPerson
    Mykkah Herner, MA, CCP, PayScale

    As an employee, I’m often concerned with my own value and therefore worth to the organization. As a manager, I was often trying to determine the value of each job to the organization. Now as a comp professional, I focus on a little bit of both: the value of the job itself, but also the value of the employee to the organization.

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  • So, I Benchmarked My Cat

    Mykkahs cat
    Mykkah Herner, MA, CCP, Compensation Consultant at PayScale.com

    Benchmarking is Serious Business

    The job of benchmarking positions is very serious business. I always want to make sure I get the best and most relevant information about every position in a client’s organization so I can make sure I’m making an apples-to-apples comparison with positions in the market. Such is my dedication to benchmarking that I found myself dreaming about benchmarking one job in particular… my cat’s position. Yes, in my now-recurring dream, my cat is in my face, meowing fervently as she expects (demands actually) accurate compensation, right away, for her position. 

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  • Ignorance is bliss, but knowledge is power

    Header_IQuit
    By Mykkah Herner, MA, CCP, Compensation Consultant at PayScale.com

    Think ignorance is bliss?

    You’ve heard some rumbling here and there, but no one has come out and said anything. That means you don’t have a compensation issue. Right? Well, maybe, but do you really want to chance losing your top performers? We’ve heard this from a number of potential clients: “We don’t have any major problems, so comp strategy is not a priority. We think we may have issues with pay, but not knowing for sure makes us feel better. Ignorance is bliss.” This “do nothing” objection may work out alright for the short term, but in the long term you run a real risk of losing your top performers, having pay inequity issues, and generally being a poor steward of one of the largest resource expenses in your organization - employee compensation.

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  • Too Hot To Handle? What to do about salary range busters.

    Header_HotJobs
    The business case for pay grades over individual ranges is clear. Switching to pay grades reduces administrative burden, facilitates internal alignment and makes it easier to set salaries for jobs that lack market benchmarks. PayScale's new eBook “Bring Back the Sizzle: PayScale’s Guide to Comp Plans That Get Workers Fired Up (in a good way),” clearly lays out the process for creating ranges. Be sure to read it!

    The hottest jobs, though, fall over the top of your pay ranges for similar jobs. Because of their higher-than-average demand, they command higher prices than similar jobs. Rather than lose valuable candidates and employees to your competitors, you need to accommodate those range outliers in one of two ways.

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