Compensation_Today_2014_hero

WHAT'S HOT?

Why Millennials make Great Interns and Future Employees Autocrat, Democrat, or Servant: What's your leadership style? The retirement savings crisis Snackable Content
snackable_content_minimumwage
  • How to properly forecast your HR budget

    header_ForecastHRBudget

    Jessica Miller-Merrell, blogging4jobs

    Forecasting is a skill that is highly marketable because of the value it brings to an organization. There is no area where this rings more true than in budgeting, where it is both tricky and vital to forecast accurately. It requires a solid understanding of the past, a grasp on the current position of the organization and an ability to utilize those factors to peer into what the future will hold.

  •  
  • Celebrate the smart way: Office party dos and don’ts

    header_HolidayPartyOrBonus

    Crystal Spraggins, SPHR

    Well waddaya know? ‘Tis the season again. Pretty soon boxes of cookies, candies, and cheese assortments will be coming through the door—gifts from your vendors and also a reminder to everyone that party time is near!

    You’ve got a workplace celebration planned, of course, because it’s a tradition. When it comes to party particulars, however, here are a few other traditions you might want to get rid of this year.

  •  
  • The costly truth of employee unplanned absences and PTO abuse

    header_CostOfPTO

    At some point in any organization, the excesses of employee tardiness, absenteeism and paid time off can become dangerously costly. From a human capital management standpoint, effort should be made to have a standard PTO policy in place to avoid unplanned absences. When this policy is communicated to employees and enforced by the management team, it can effectively save the company HR budget for other worthwhile programs. Yet, very often it can seem like an uphill battle when a handful of employees begin to abuse the system or seasonal illnesses start to reduce the team one-by-one.

  •  
  • Do pay for performance plans boost employee productivity?

    header_PayForPerformance

    The nature of pay for performance has come under fire many times, yet this compensation strategy is based on sound business principles that have been around for ages. Traditional theories of positive reinforcement have been shown to have a direct link to performance in the workplace. It is common sense -- when employees are provided with a reward system that is tied to their job performance, this tends to motivate and inspire them. In a nutshell, when employees clearly understand what they stand to gain financially from good performance, they have a more focused effort on meeting these performance goals in order to be compensated.

  •  
  • Are exit interviews a complete waste of time?

    header_ExitInterview

    Crystal Spraggins, SPHR

    As an HR professional, I’m torn on the benefits of exit interviews.

    Why?

    Because data are useful if you plan on doing something with them, but in my experience lots of organizations do absolutely nothing with the information received during exit interviews. The completed forms go in a file somewhere, only seeing the light of day when the latest questionnaire from Employee XYZ is shoved in with the rest.

  •  
  • 5 tips for justifying budget increases

    header_BudgetIncrease

    Jessica Miller-Merrell, blogging4jobs

    Money is a touchy subject, even in business. And asking for more of it, well that can feel like you may as well be walking a tight rope across Niagara Falls. Sometimes, though, it’s a necessary part of developing your department and can even be a sign of success that you need more in order to continue to grow. But before you request more money for your department, it’s a smart move to sit down and analyze whether or not your department actually needs more money.

  •  
  • Why waiting for that problem employee to quit is a bad idea

    header_KeepingBadEmployeesBadIdea

    Crystal Spraggins, SPHR

    I’d taken on a part-time job as an office assistant at my son’s daycare, intending to use the extra money as a down-payment for a home. I was thrilled to have this second job, not just for the money but also because the owner and I (let’s call her Sandy) got along really well. She was a straight shooter with a good heart (my kind of person), and we often ended the day with a chat about the goings on at the center. This was before I entered the human resources profession and way before I became a manager.

  •  
  • Paving the way to a healthy workplace with corporate wellness incentives

    header_HealthyIncentive

    As Obamacare officially launched across America this year, new requirements forced employers to look for ways to boost their compensation and benefit programs without raising healthcare premium costs. The new law permits employers to use as much as 30 percent of each worker’s health care premium on wellness incentive programs (up from 20 percent last year). The challenge to find cost-effective ways to maintain the well-being and productivity of workers is on.

  •  
  • Pay for performance fail? Microsoft finally dumps forced stack rank

    snackable_header_PfPFailhttp://www.bonkersworld.net/images/2011.06.27_organizational_charts.png

    Tim Low, PayScale

    Much has been written, and much more will be, about Microsoft’s decision this week to eliminate their previous performance review process. Up until now, Microsoft relied on a forced stack rank where managers were required to grade employees on a bell curve, and thus also requiring ranking some employees at the low end of the curve.

  •  
  • November 2013 software release – new Total Compensation Statement

    header_Fall2013Release

    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.

  •  
  • 5 Factors that Determine a "Fair" Raise in 2014

    header_FairPay

    Jessica Miller-Merrell, blogging4jobs

    As 2014 quickly approaches, your employees likely have dreams of holiday breaks, the occasional (but elusive) inclement weather day and news of a pay raise. Depending on your organization, you may offer annual raises in January or employees may receive them at their annual performance reviews. Either way, a new year is a sign of new things to come and raises will likely be at the forefront of your employees’ minds.

  •  
  • 6 tips for doing a performance improvement plan right

    header_PerformanceImprovement

    Crystal Spraggins, SPHR

    There’s a common perception that once an employee is placed on a performance improvement plan (PIP), it’s the beginning of the end for that individual. And that’s largely true.

  •  
  • Communicating total compensation to employees in a meaningful way

    header_TotalCompensation

    Each year, one way that organizations communicate to employees how much they value them is through total compensation statements. Most often distributed after the chaos of the annual open enrollment process, total compensation statements provide a tangible, written document for the benefit of employees. From health, life and supplemental benefits to performance bonuses and all the other unique perks of working for a company, the total compensation statement supplies employees with a full overview of the benefits that a company provides – in the hopes that this will be meaningful to them as they head into the next year of employment.

  •  
  • Does the salary question belong in a first interview?

    header_SalaryQuestionsInInterview

    Nearly all candidates look forward to the day when they will have a chance to speak face-to-face with a hiring manager at their dream company. Likewise, human resource professionals enjoy meeting new candidates who may be the perfect fit for their company goals. Yet, the one thing that’s common with both sides of the hiring desk is nervousness over what interview questions are appropriate to ask in a first interview.

  •  
  • Help your Millenials save for retirement

    header_MillenialRetirement

    Crystal Spraggins, SPHR

    Saving for retirement is something every working person who has no intention of remaining employed forever should do.

    Members of Gen X and of course, the Boomers, understand this very well. Gen X, in particular, is at the right age to be witnessing first-hand whether their parents have retired well, poorly, or are unable to retire at all, despite having seen the traditional age of retirement come and go.

  •  
  • Four keys for preparing for an annual performance review

    header_4stepsPrepPerfReviews

    Jessica Miller-Merrell, blogging4jobs

    There are a lot of things in life that you can successfully do last minute. For instance, holiday shopping can be put off until December 23 and you’ll probably still get the Lego kit that was at the top of your kids’ wish list; laundry can be saved until midnight on Sunday and it will still be just as clean as if it was done Saturday morning; sales reports can be pulled the very hour they’re due and it makes no difference. However, annual performance reviews are not one of those things.

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

    header_HowMuchPayIsTooMuch

    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.

  •  
  • Adding value to your compensation with supplemental benefit plans

    header_AddValueCompBenefits

    Management of employee benefit programs has taken on new meaning since the inception of the Affordable Healthcare Act. This is particularly true when it comes to engaging and retaining the workforce through fair compensation, which includes the perceived value of company health benefits. Organizational benefit administrators who are already struggling to provide adequate wellness coverage for employees may feel as if they are losing the battle one employee at a time.

  •  
  • Tips for writing a salary increase letter

    header_TipsSalaryIncreaseLetter

    There comes a time in every manager’s life when he or she identifies an employee who demonstrates outstanding performance that warrants a salary increase. This can come during a formal performance review or as a result of an employee promotion -- perhaps when the company goes through some shifting that necessitates additional employee responsibilities or a new job title. Since written letters are still the preferred way to document and manage a salary increase, a manager needs to understand how to write a salary increase letter that explains things according to employment legalities.

  •  
  • The best ways to compensate an unpaid intern

    header_InternBonus

    Jessica Miller-Merrell, blogging4jobs

    More and more these days, paid internships are becoming the standard for companies that offer internships. This allows companies to compete with others in the industry or region for both the best interns and new grads. However, for companies who offer unpaid internships, it’s a whole different ball game. Even when businesses have rich and varied experience to offer potential interns, they are at an automatic disadvantage when they can’t or don’t offer paid internships.

  •  



SEARCH
GET PAYSCALE NEWS
Sign up for the latest tips and tricks in compensation from PayScale.
Sign up for PayScale News


BRIGHT POSTS

Career News
SOCIALIZE WITH US
CATEGORIES