• Employees Forego Higher Wages in Favor of Flexible Work Schedules

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    by Jessica Miller-Merrell, xceptionalhr.com, blogging4jobs.com

    Eighty-three percent of Americans believe telecommuting’s popularity is on the rise. With the rise of smart phones, tablets and other mobile technologies, working from home has never been easier. And never before have employees been willing to give up certain benefits just to have a home-based job. 

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  • Small Business Wages are Climbing Fast!

    Small companies

    by Laleh Hassibi, PayScale.com

    For the first time since the inception of The PayScale Index, small business wages are growing faster than their medium and large-sized business counterparts. This little but important fact has many sitting up and taking notice. Business Insider published an article about this fact noting that, “historically large companies experienced larger pay increases, however over the last two quarters this has switched.”

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  • Ignorance is bliss, but knowledge is power

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    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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  • 500 New PayScale Customers!

    PayScale has 500 New Customers

    PayScale is growing fast! 500 corporations from across the globe made the decision to subscribe to PayScale's SaaS offerings so far in 2012. New customers in Q3 include Clemson University, Heartland Financial, Earthbound Farms, and Swift Transportation. They join many organizations, including, Adecco, Bloomberg BNA, Gulfstream Goodwill Industries, the Tribune Company and Perry Ellis who signed on with PayScale in the first half of the year.

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  • New CEO on the Block: Yahoo’s Marissa Mayer Reveals Plan for Company Turnaround

    Yahoo
    by Evan Rodd, PayScale.com

    As Yahoo’s third CEO this year, Marissa Mayer is wasting no time turning Yahoo into a fast-paced, mobile force to be reckoned with. She has already replaced chief financial officer Tim Morse, who served as interim CEO last year. Morse has stated he was nervous about working with a new CEO, and rightfully so. Did he know his days were numbered?

    Last week, Mayer held an employee meeting to reveal her vision for the new Yahoo. Anonymous employees rushed to dish on their new boss’ plans for company overhaul, though Melissa isn’t sharing any specific details regarding new products or strategies. What Mayer presented was a general vision of the new Yahoo, and it sounds like she has big plans. 

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  • Calculating Employee Turnover

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    Employee Turnover Rates

    Employee turnover is driven by many factors including inadequate compensation, lack of employee engagement, poor job fit, etc. Whatever the cause, you can easily calculate your company's rate of turnover. This is a critical benchmark that can help you understand your relationship with your competition and with your employees. You should continually monitor this rate so you can make informed choices in the future.

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  • Got A Raise Budget Burning A Hole In Your Pocket?

    Raises are Back

    Spend It Wisely

    Raises are back and in a big way. After years of stagnant salary growth, The PayScale Index shows that wages are growing across the economy. If you haven't already started discussing whether or not to offer raises yourself, we're going to make it easy for you.  

    Here are three potential approaches you can take to raises in 2012-13. As you might guess, we think one is definitely better than the others.

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  • Stupid Things in Compensation

    By Tripp Ritter, PayScale.com

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    Save Yourself Some Pain and Read On
    Did you miss last week's hugely popular PayScale webinar? The one in which Stacey Carroll, PayScale's Principal Consultant, detailed the big mistakes companies make in compensation decisions? Well don't worry, we've got you covered. Read on for highlights and then, when you are ready to learn, listen in on the recording.

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  • Employee Retention: Thinking Beyond Salary

    Compensation is More Than a Paycheck

    By Tripp Ritter, PayScale.com

    Bigstock-Religion-death-and-dolor--f-24592586Employees join and stay with companies for more than just their paycheck. They care about what the company offers in total. It's a combination of factors that make a company the right place for them. Sure, the paycheck is a key part of compensation and it is the one that we talk about the most, but it is not the only element in a compensation strategy. Smart companies come up with a thoughtfully-constructed package of pay and benefits to make sure they have the right mix of employees for business success.

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  • 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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  • 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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  • 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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  • PTSD: Challenging, But Manageable

    It's Easier Than You Might Think

    A movement has started to inform employers that the dangers and frequency of post-traumatic stress disorder (PTSD) are often overstated. According to researcher Dr. Harry Croft, medical director at the San Antonio Psychiatric Research Center, whose views on hiring veterans were covered in an earlier post “The Right Reason to Hire Veterans,” "Not only are the rates and severity of PTSD  lower than many assume but, when understood, the impact of PTSD in the workplace can be managed."

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  • Poll: What Is Your Company's Maternity Leave Policy?

    Paid Leave Makes A Difference

    Do you want to make sure your pregnant employees remain loyal employees and stay at work long after they give birth? If so, you might be wise to focus on whether or not any leave you provide is paid, according to a new research study. Researchers from Bryn Mawr College and Rutgers University found that women who take paid maternity leave are more likely to still be working a year after they give birth than those who take no leave at all.

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  • Essentials for Incentive Plans

    On Your Mark, Get Set, Wait… Before You Go:
    Essentials for Incentive Plans

    Before you add an incentive plan, there are several considerations to address to get ready. Answer these seven questions to assure you achieve success.

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  • Employee Retention and Engagement

    Be Bold and Reward Only What You Want

    It’s challenging to design an incentive program that actually rewards top performers, and only top performers. But, it is more expensive, in the long run, to leave them under-rewarded. If you don’t believe that is true, keep reading. If you are afraid you don’t have the time and resources to reward their success, keep reading, too. In business, you will pay when you reward them or pay when you lose them. You decide.

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  • Examining the Adverse Impacts of Layoffs

    Think Before You Fire: Designing an Adverse Impact Analysis

    In our tough economy, laying off employees has become a knee-jerk reaction when budgets get tight. But, what are the true effects of employee layoffs and how might choosing them wreak havoc later on? Losing a skilled, experienced and loyal employee can hurt your bottom line over time.

    In this post we’ll discuss how you can help your managers and the leadership at your company make smart choices about staffing so that the company stays healthy long term.

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  • How to Calculate Employee Turnover

    how to calculate employee turnoverCosts of Employee Turnover - Part 2

    In our first post on the costs of employee turnover, you learned why hanging onto your employees is important to the financial well-being of your organization, as long as those employees are a good fit.

    In part 2, I will show you some twists and variables on those calculations that you must make to see the full picture that employee turnover in your organization is telling you. I will also cover a few of the many variables that can affect your turnover rate and affect how you choose to interpret results of your employee turnover calculations.

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  • The Costs of Employee Turnover

    Cost of Employee Turnover Cost of Employee Turnover - Part 1

    Many of us have a vague sense that there are things we must do. We must eat our vegetables, floss, and make payroll. Then we have a sense that there are things we ought to do. We ought to invest for retirement, volunteer with a community service organization, or learn a language. Into which category do we place “hang onto my employees better?” It might be the former, once you find out in this blog how much employee turnover costs.

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  • Strategies for Difficult Employee Communications

    Difficult Employee Communications How Do Companies Communicate with Employees in Difficult Times?

    In my experience, there are two main schools of thought on how companies should communicate with employees during a recession.

    1) It is better to wait to communicate with employees until you have all the information you can gather. Otherwise, employees may ask questions you cannot answer and you may look bad from their perspective.
    2) We all live in a world of uncertainty and waiting before presenting information will only stimulate the rumor mill and employee anxiety.

    This blog post will summarize why I prefer the latter approach. I will use as an example the situation I wrote about recently, of having to layoff or terminate employees as a last resort to get through a recession.

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