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

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    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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  • How Fast Are Salaries Growing in Your City?

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    Creating the right compensation plan depends on having current data. One of the key pieces of the compensation puzzle is the rate of wage growth in the local metropolitan area. The most recent release of The PayScale Index shows the rate at which wages grew from Q2 2011 to Q2 2012. The results show considerable variance among the top metros. Read on to learn which are leading and which are lagging.

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  • Poll: Your Company's Support for PHR or SPHR Certification

    Are Companies Paying for HR Professionals to Advance?

    While it's well understood that HR professionals’ career advance more easily with a PHR or SPHR certification, the impact had, until recently, been unquantified. As we previously reported in "Infographic: The Impact of the PHR and SPHR on Careers," PayScale researchers have made the value of gaining certification clear. Those professionals who hold a certification earn more money and get promoted faster. What's more, the advantage is seen in a variety of industries and locations. For the hard numbers, be sure to read the full report.

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  • A PHR or SPHR Certification Means Money

    PHR and SPHR Certifications Boost Pay in Nearly All Sectors

    No matter where you live or where you work, earning a PHR or SPHR certification means a higher average salary. That’s among the findings of the research behind PayScale’s new report “Worth It? The Value of the PHR and SPHR.” PayScale analysts looked at the median pay for a given job title and compared those that held either a PHR or the SPHR with those that did not. They then rolled up these values to analyze the impact of a PHR or SPHR on salaries in entire metros and industries. Across ten largest metros and ten of the most significant industries, holders of one of the two certifications on average make significantly more than those who do not.

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  • Infographic: The Impact of a PHR or SPHR on Careers

    Shifting HR Careers into Overdrive

    In competitive job categories like HR, careers can often feel like they are stuck in the slow lane. The new PayScale report "Worth it? The Value of the PHR and SPHR" reveals that attaining a PHR or SPHR certification is a powerful way to break out and accelerate a HR career.  

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  • Use Data When Setting Raises, But Don't Stop There

    How the PayScale Index Fits Into Raise Planning

    Some high level strategic thinking and data gathering must happen before raises can be given out. From following inflation and local market rate shifts, to considering business goals and budget constraints, HR professionals must be extra hard working and efficient with their time to pull off smart merit increases. How can all of the information gathering be simplified? When do you have enough input to make a smart decision?

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  • The PayScale Index: Which Jobs Do Best?

    Is Your Job One of the Winners?

    By Tripp Ritter, PayScale

    Earlier this week, we saw that The PayScale Index revealed major differences in wage growth among metros. Hold on to your hats, because the differences in wage growth among jobs is even more stark. The leading job's wages raced ahead nearly 10% since 2006. The last place job did so poorly that it has lower wages than in 2006! You can find all the details in the The PayScale Index, but we also have an infographic showing the top and bottom three. Find out how your job fared in the past few years.
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  • The PayScale Index: Which Cities Do Best?

    Where are People Making More Money?

    By Tripp Ritter, PayScale

    The economy, on the whole, is on the way up. If that doesn't ring true, it could be where you live. There are significant differences in wage growth between major metros. The PayScale Index breaks the differences down for you. Is your metro a leader or is it a lagard? Find out now.
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  • Salary by Location

    Why Geographic Differentials Don’t Work

    For years compensation professionals have used geographic differentials to make decisions about what to pay jobs in locations where they may not have salary data. The theory stands that if you don’t have data for one location, you can use data from another location and adjust it based on the cost of labor in the two cities. While this may be a better option than making decisions without any data on salary by location – it’s not much better.

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  • Employee Compensation Plan Design

    Think Ahead: Smart Employee Compensation Plan Design

    When it comes to helping HR professionals utilize our tool to build, maintain, or update their compensation program, I hear myself saying over and over again, “remember it’s a tool, but you have to know what you want from the tool before it can be useful.” It is very important for any organization that is going through the process of benchmarking to work through what their employee compensation plan design strategy is prior to trying to interpret external market data. Part of defining your compensation philosophy is knowing who you compete with for talent and how competitive you want to be. Let me provide you some examples of what I mean.

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  • Creating a Salary Benchmarking Plan

    Compplan The Importance of Creating a Salary Benchmarking Plan

    By Staff Writer

    In previous posts, we have covered different aspects of salary benchmarking at an organization. From choosing salary benchmarking data sources to getting buy-in at the corporate level, there are plenty of actions to take. But, before you make calls, send emails, do online research and get others involved, there’s a crucial step you can take that will help you produce the best results possible: put together a salary benchmarking plan ahead of time.

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