Compensation trends: Modern perspectives on pay

Your Special Relationship with an HCM Vendor—How to Find Your Perfect Match

<img width="610" height="175" src="http://www.payscale.com/cms-images/default-source/b2b/header_relationship_main.png" alt="Header_Relationship_Main" /><br>By Paige Hanley, CCP, PayScale Compensation Professional<br><p>Deciding to partner with an HCM vendor can feel a lot like being single—working your way through the dating pool to find your future spouse. As we approach Valentine’s Day, PayScale is here to give you a few tips and some guidance on how to navigate the various players you’ll interact with during this speed-dating to wedding planning process.

Your Special Relationship with an HCM Vendor—How to Find Your Perfect Match

<img width="610" height="175" src="http://www.payscale.com/cms-images/default-source/b2b/header_relationship_main.png" alt="Header_Relationship_Main" /><br>By Paige Hanley, CCP, PayScale Compensation Professional<br><p>Deciding to partner with an HCM vendor can feel a lot like being single—working your way through the dating pool to find your future spouse. As we approach Valentine’s Day, PayScale is here to give you a few tips and some guidance on how to navigate the various players you’ll interact with during this speed-dating to wedding planning process.

You're Overpaying. Now What?

It's Here! PayScale's Newest Infographic Reveals the Truth about Employee Engagement

<img width="610" height="175" src="http://www.payscale.com/cms-images/default-source/b2b/header_inthenews.jpg" alt="header_InTheNews" /><a href="https://www.payscale.com/hr/">PayScale</a></p><p>From sticks and carrots, to gift cards, to extravagant perks and unlimited PTO—the face of employee engagement is ever-changing. A happy employee is likely to stay—and you’ll pull out all the stops to avoid turnover. Throw in all the fancy perks you want—lunchtime yoga, company chef, clothing fund, you name it—but, if you fail to pay fairly, and talk about it, all of your effort will go unnoticed. PayScale surveyed more than 71,000 employees to study the relationship between pay and employee engagement. One of the top predictors of employee sentiment is a company’s ability to communicate clearly about pay—more important than career advancement opportunities, employer appreciation and future enthusiasm for the company. Want employees to stay? Talk about pay…

Be a Unicorn. What Your Compensation Package Says About Your Business

<img width="610" height="175" src="http://www.payscale.com/cms-images/default-source/b2b/header_unicorns_main.png" alt="Header_Unicorns_Main" /><a href="http://www.hr-writer.com/" title=" target=" rel="noopener">Tess C. Taylor, CPC, PHR, SHRM-CP, PayScale Senior Blogger</a><p> It can be impossible for Human Resource pros to see things from an objective standpoint when we are so connected to the people and processes of our organizations. However, it’s critical to take a step back once in a while to view things from the perspective of employees and future hires. Compensation plays a major role here. The <a target=" class=" title=" href="https://resources.payscale.com/hr-2015-compensation-practices-report.html" rel="noopener">2015 PayScale Compensation Best Practices Report</a> revealed that a quarter of employers, “reported the inability to offer a competitive wage as a barrier to finding good people, which might explain why a whopping 78 percent claim to be only “somewhat” or “not at all” satisfied with their compensation structures.”<br>

Managing Comp during High Growth Phases

<img width="610" height="175" src="http://www.payscale.com/cms-images/default-source/b2b/header_highgrowth_main.png" alt="Header_HighGrowth_Main" /><a href="https://www.linkedin.com/in/mykkah-herner-3972b33"> Mykkah Herner, MA, CCP, Modern Compensation Evangelist, PayScale</a><p>When organizations get into high growth phase, everything starts moving faster. Recruiting speeds up. Finding people desks to sit in rapidly becomes an unsolvable puzzle.Making sure every incoming person has a set-up complete with computer becomes a greater challenge.All the moving pieces that are tough to keep up with on a good day suddenly run the risk of falling through the cracks. Compensation is another thing you have to get right as you scale quickly. So how can you make sure you’re getting the comp equivalent of the right set-up as you grow?

Dump Annual Staff Surveys: Real-Time Engagement is Here!

<img width="610" height="175" src="http://www.payscale.com/cms-images/default-source/b2b/header_dump_annual_surveys_main.png" alt="Header_Dump_Annual_Surveys_Main" /><a href="http://www.hr-writer.com/" title=" target=" rel="noopener">Tess C. Taylor, PHR, SHRM-CP, PayScale Senior Blogger</a><p>In a bold move, KPMG, a global professional services firm, has opted to dump its annual employee engagement surveys for good—relying on the theory that annual employee surveys are passe and real-time data is the new way of measuring the true engagement level. According to <a target=" class=" title=" href="http://www.afr.com/leadership/careers/jobs/kpmg-dumps-abused-staff-surveys-20151110-gkvctt?&amp;utm_source=social&amp;utm_medium=GooglePlus&amp;utm_campaign=nc&amp;eid=socialn:gplus-14omn0057-optim-nnn:nonpaid-27062014-social_traffic-all-organicpost-nnn-afr-o&amp;campaign_code=nocode&amp;promote_channel=social_googleplus" rel="noopener">Robert Bolton</a> of KPMG, "This term ‘engagement’ is abused, it's misunderstood, it's not evidence based, and it's a minefield.” </p>

It Is Time to Pour Your COLA Down the Drain

Rita Patterson, Onboarding Manager, PayScale

How To Benchmark an Elf's Job

<img width="610" height="175" src="http://www.payscale.com/cms-images/default-source/b2b/header_elves_main.png" alt="Header_Elves_Main" />PayScale's Mykkah Herner, MA, CCP, Modern Compensation Evangelist and Paige Hanley, CCP, Compensation Professional</p><p>It’s that time of year and all of Santa’s Elves have been working overtime. As with many folks who work overtime, that means many of them have felt overworked and underappreciated. Despite their holiday cheer, many of them have walked into Santa’s office in the past week, asking for a raise. Busy himself, Santa turned to PayScale to determine the best way to handle his elf compensation.

How To Benchmark an Elf's Job

<img width="610" height="175" src="http://www.payscale.com/cms-images/default-source/b2b/header_elves_main.png" alt="Header_Elves_Main" />PayScale's Mykkah Herner, MA, CCP, Modern Compensation Evangelist and Paige Hanley, CCP, Compensation Professional</p><p>It’s that time of year and all of Santa’s Elves have been working overtime. As with many folks who work overtime, that means many of them have felt overworked and underappreciated. Despite their holiday cheer, many of them have walked into Santa’s office in the past week, asking for a raise. Busy himself, Santa turned to PayScale to determine the best way to handle his elf compensation.

Myth Buster: Talking About Pay Could Incite an Employee Riot

<img width="610" height="175" src="http://www.payscale.com/cms-images/default-source/b2b/header_myth3_main.png" alt="Header_Myth3_Main" /><p>PayScale</p><br>If you aren’t talking with employees about pay, chances are they are talking to one another—creating their own story of your compensation philosophy. Not a good thing. PayScale surveyed more than 71,000 employees to study the relationship between pay and transparency.

Myth Buster: People Don't Leave Their Jobs Because of Pay

<img width="610" height="175" src="http://www.payscale.com/cms-images/default-source/b2b/header_myth2_main.png" alt="Header_Myth2_Main" />PayScale</p>Busted! In 2015, the number one reason most people left companies was compensation. The majority of respondents to the <a href="https://www.payscale.com/cbpr" title=" class=" target=" rel="noopener">PayScale Compensation Best Practices Report</a> cited “seeking higher pay elsewhere” as the primary reason for leaving a company. Moral of the story? Money CAN buy you love.