• CFO Corner: Retaining Top Performers

    You Can't Hit Your Numbers Without Your Top Performers

    Note: This is the first of a series of posts geared towards CFOs, finance and how HR can work effectively with Finance.

    Retaining talent is one of the most important tasks for C-level executives today. Losing top performing employees can severely weaken a business, and recent research shows that high performing employees are the ones most likely to be seeking work elsewhere. Keeping hold of top talent, as well as keeping them away from your competition, is a matter of avoiding common compensation mistakes and developing an effective compensation strategy.  

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  • 2012 Trends in Pay – U.S. Salary Growth

    Drill Down Deeper

    If you are creating compensation plans in the coming months, make sure you use the right data, advises Katie Bardaro, PayScale's lead economist. Looking at the wider economy, you hear news of sluggish hiring and persistent unemployment. If you just used that information, you could assume that the competition for talent is relatively light. For some companies that may be the case, but to make the best compensation decisions for you company, you need to drill deeper, according to Bardaro. The PayScale Index, which was recently updated, provides detailed data on the U.S. salary growth rate across the entire economy, but also at the metro, industry and job category level. Below are some of the details it reveals.

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  • Employee Promotions. Performance or Relationships?

    Many Employees Are Discouraged

    A recent research study shows employees believe that promotion is more a matter of personal connection than a reward for performance. The study found that 44 percent of respondents believe that relationships drive promotion. Only 39 percent cited performance as the most significant factor for career advancement.

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  • Establishing Pay Grades: An Essential Step for Growing Companies

    How Pay Grades Protect and Serve Your Business

    By Tripp Ritter, PayScale.com

    Once a company reaches about 100 employees or more, they have grown to a size where it may be time to move beyond pricing jobs on an ad-hoc basis. The management of salaries, when each individual job has its own pay range, becomes increasingly challenging. Putting pay grades in place eases the management burden and provides additional benefits, including protection against pay equity claims, defining career paths for employees and protecting the company from overly aggressive hiring practices. We discussed this tricky transition with PayScale Compensation Consultant , Melissa Quade, CCP and below you can read her advice.

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  • What I Saw At SHRM

    Connecting with People and Sharing Our Knowledge

    By Tim Low, VP of Marketing, PayScale.com

    I'd like to share a few observations from a SHRM national first timer (I am a software guy, and have never been to a SHRM conference before).

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  • Best and Worst Jobs for Wage Growth [infographic]

    Transportation and IT Climb Fastest In Q2

    Doing any hiring in the coming weeks or months? Making salary decisions will be easier if you have up to the minute information on the trajectory of wage growth in your industry. As we reported last week in "Wages Are Up...Everywhere," the Q2 2012 results from The PayScale Index, reveal that for the first time since 2009, wages are up in every industry and job category tracked by the Index.

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  • Best and Worst Cities for Wage Growth [infographic]

    Can you guess whether Seattle or San Francisco has had the best wage growth over the last six years? Or, how much Detroit's recent economic gains have improved wage levels there? PayScale's Q2 2012 results for The PayScale Index reveal the best and worst cities for wage growth since 2006.

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  • Wages Are Up... Everywhere

    We've witnessed the struggles, the ups and the downs, as wages from various industries and job families have tried to recover from the recession. Employers have wondered if it is time to hand out raises and how big to make them. Well, the signs of struggle have been decreasing in the last couple of years and in Q2 2012, they nearly disappeared altogether.

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  • What's Happening in HR: News Round-Up

    Paycheck Fairness Act Poll Results Just In

    A few weeks ago, in "Poll: Your Opinion on the Paycheck Fairness Act," we asked readers to tell us what they thought about the proposed Paycheck Fairness Act. A little over 100 of you let us know. As the results below show, about half of those who answered agree with Mykkah Herner, who expressed his reluctant opposition in "The Paycheck Fairness Act is The Wrong Fix." Only a third of respondents support it.

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  • Bringing Finance and HR Together

    How to Better Connect Finance and HR

    Finance and HR now have a powerful, data-rich tool with which  to cooperatively manage compensation strategy and its impact on the business. PayScale's Insight product team recently released an executive summary reporting tool that succinctly provides the information finance and HR leaders need to ensure that the company's compensation strategy yields its promised returns. The report gives finance and human resources a dashboard that lets both know when the compensation engine is humming, and also provides warnings of potential issues.

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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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  • Play to Win the Talent Wars

    Get the Edge You Need to Retain and Recruit the Top Talent

    Did you miss PayScale's Talent Wars events? Well, now's your chance to get a taste of the insights and advice the attendees got. In the keynote presentation below, PayScale's Director of Professional Services Stacey Carroll provides strategic guidance for companies seeking to retain their top talent, as well as attract the people that will help their company hit key targets. Pour yourself a cup coffee, grab a notepad and get ready to learn.

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  • The PayCheck Fairness Act Is the Wrong Fix

    Confessions of a Feminist on the Paycheck Fairness Act

    It’s with a heavy heart that I realize that it is ok with me that the Paycheck Fairness Act didn’t pass the Senate. While I value equal pay, my beliefs about what needs to happen in order for that outcome to be achieved have to be balanced with my beliefs about the law and how businesses should be run.

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  • Three Cool Tech Jobs That Didn't Exist 15 Years Ago

    The New Jobs Employees Want

    When we were kids, our teachers told us that the jobs we'd have as adults didn't even exist yet. We of course they assumed they were referring to "Astronaut Princess" or "Professional Pony Namer." Unfortunately, those jobs haven't materialized. But some of the ones that have appeared instead are pretty cool -- plus, they pay well.

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  • Keeping Hold of The Top Employees Is Getting Harder

    More Top Performers Plan to Leave

    A recently released research study from Aflac reveals that not only are nearly half of employees looking for greener pastures, but that top performers are the ones most likely to be looking. This further reinforces the employer concerns about retention that PayScale identified in the 2012 Compensation Best Practices Report.

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  • Infographic: The Employers That Do and Don't Like Social Media

    Social Media Policies Vary Dramatically

    Social media is growing like gangbusters and companies are trying to figure out what to do about it. Which industries are leaders and which are laggards? The latest PayScale Infographic, based on data from the 2012 Compensation Best Practices Report names names.

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  • Poll: Your Opinion On The Paycheck Fairness Act

    Pros and Cons of the Paycheck Fairness Act

    As you may know, the Paycheck Fairness Act recently failed to progress to a vote in the Senate. This legislation could have greatly impacted both employees and employers. It is intended to update the Fair Labor Standards Act of 1938, and by extension the Equal Pay Act of 1963, by limiting acceptable reasons for differences in pay, increasing penalties for failing to meet standards, reducing small business exemptions and barring retaliation for the disclosure of salary information. Perhaps because of its potential to change so much, it is highly controversial.

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  • Performance Reviews: From Pain To Gain

    Getting Performance Reviews Right

    Performance Reviews: From Pain to Gain

    Does anyone love performance reviews? They can cause anxiety for both the employee under review and the reviewer. PayScale compensation consultant Mykkah Herner argues that it doesn't have to be this way. Performance reviews can and should be a means to empower business, not a painful box-checking exercise.

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