Compensation Trends for Comp Professionals

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Compensation Round-Up: Love, Lies, and a Game of Horse

<img width="610" height="175" src="http://www.payscale.com/cms-images/default-source/b2b/blog_header9-29_main.png" alt="Blog_Header9.29_Main" /> <a href="https://www.linkedin.com/in/joleenoerman">Joleen Oerman, B2B Content Marketing Specialist, PayScale</a> Welcome to the Compensation Roundup, where we bring to you the hottest news in comp! Sample what’s happening in compensation right now, get in the know and grab some conversation starters. This week's topic: Loves, Lies and a Game of Horse.

How to Communicate a Change in Annual Raises or Compensation Rates

<img width="610" height="175" src="http://www.payscale.com/cms-images/default-source/b2b/header_communicatechangerightway.png" alt="header_CommunicateChangeRightWay" /><a href="https://plus.google.com/102099066436032147105? rel=author" style="line-height: 1.5">Jessica Miller-Merrell,</a> blogging4jobsAny kind of change in the workplace can be a challenge for employees. Big or small, change is typically not a welcomed thing. Add in a monetary factor and people tend to get even more stressed out. It’s understandable. You’re talking about making changes to their livelihood, which can be stressful, confusing, annoying or downright scary. However, change is an inevitable part of life and work. So when you do find yourself in a situation where change is around the corner, it’s vital to communicate in a way that doesn’t alienate your workforce. Communicating compensation rates or annual raise changes requires strategy, tact and forethought.

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Focal vs. Anniversary merit raises: Pros and cons

<img width="610" height="175" src="http://www.payscale.com/cms-images/default-source/b2b/header_focalsalaryincreases.jpg?Status=Temp&sfvrsn=2" alt="header_FocalSalaryIncreases" /><a href="http://www.hr-writer.com/" title=" target=" rel="noopener">Tess C. Taylor, PHR, SHRM-CP, PayScale Senior Blogger</a> Shifting merit increases from employee anniversary dates to a focal point system may be an option for companies that want to connect performance with pay. While it can raise concerns for employees initially, there are multiple advantages of changing salary increases to correspond with actual performance metrics. But before you go messing with people’s pay, learn what this change impacts.

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Minimum Wage Increases: The Key Factor You're not Looking At

<img width="610" height="175" src="http://www.payscale.com/cms-images/default-source/b2b/header_mediumminimumwage.jpg?Status=Temp&sfvrsn=2" alt="header_MediumMinimumWage" /> <a href="https://www.linkedin.com/in/joleenoerman">Joleen Oerman, PayScale</a> Like a dress code in a public school, minimum wage mandates are invading cities, to mixed reactions. Concern is understandable: As a small business owner, one moment you’re able to outfit your work force into jeans of many brands—from Jordache to Joe’s. Then your city mandates that your employees can only wear only jeans sold at Nordstrom, when you’ve been outfitting much of them in jeans from Wal-Mart. As compensation is likely one of the largest line items in your budget, significantly upping the price of your lowest paid employees is a daunting task that many do not feel they can afford. Much like businesses, cities differ greatly in their ability to handle a significant increase in minimum wage.

Annual Compensation Cycles Need to Take an Uber

<img width="610" height="175" src="http://www.payscale.com/cms-images/default-source/b2b/header_joincyclerace.jpg?Status=Temp&sfvrsn=2" alt="header_JoinCycleRace" /><a href="https://plus.google.com/u/0/117837223662750785428? rel=author">Tim Low</a>, PayScale I was reading this <a href="http://qz.com/428813/ge-performance-review-strategy-shift/">story</a> about GE dumping its famous (and infamous) Jack Welch baby, the stack ranking and annual performance review. That is a worthwhile topic for another day, but I was struck by a comment in the article by GE’s head of human resources, Susan Peters: “The world isn’t really on an annual cycle anymore for anything.”So. True.

New Whitepaper: 7 Reasons You're Not Too Small for Compensation Software

<img width="610" height="175" src="http://www.payscale.com/cms-images/default-source/b2b/header_inthenews.jpg?sfvrsn=0" alt="header_InTheNews" /> What’s business-critical, valued by your employees, and likely one of the biggest line items on your budget? That’s right, compensation! You’ve implemented software for other parts of your business, so why ignore comp?

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Building Pay Equity into Your Business in 2022

Salary is a touchy subject, and it’s something that everyone - from the average employee to the well-known executive to celebrities - is curious about and treading lightly around. For those in the workforce helping to set salaries, keep employees happy and avoid lawsuits, it’s even more confusing and sensitive. Add to the mix the fact that the terms pay equity and equitable pay are thrown around in many different combinations and ways that are sometimes incorrect, often confusing and many times not helpful and you’ve got one big question mark on your hands. Today, we’ll set the record straight on what pay equity and equitable pay mean, how they relate to each other and how they’re different.

Beyond Compensation: How to REALLY Motivate Employees

<img src="http://cdn-payscale.com/content/blogs/header_MotivateWithScience.jpg"><a href="https://plus.google.com/102099066436032147105? rel=author" style="line-height: 1.5">Jessica Miller-Merrell,</a> blogging4jobsAlthough we know compensation is the number one reason people leave companies, pay isn’t the only factor in employee engagement. Pay meets the basic need, but what comes next? The truth is, there’s a science to motivation that really works and it’s backed by proven research and psychology.

Time to Get Real About Employee Engagement! 65% of Employees are Quitting for More Money

<img width="610" height="175" src="http://www.payscale.com/cms-images/default-source/Blogs/header_employeeengagementreallymeans.jpg?Status=Temp&sfvrsn=2" alt="header_EmployeeEngagementReallyMeans" /><a href="http://www.hr-writer.com/" title=" target=" rel="noopener">Tess C. Taylor, PHR, SHRM-CP, PayScale Senior Blogger</a> The term employee engagement gets thrown around pretty loosely today, but what does this concept really mean? With 63 percent of employers concerned about employee retention, employee engagement goes a lot deeper than just smiling happy employees at the office. It’s about how employers are jumping through hoops to keep their workers plugged in.

Snackable: PayScale VP Tim Low, alongside Google’s Laszlo Block, weighs in on Salary Transparency

<img width="610" height="175" src="http://www.payscale.com/cms-images/default-source/b2b/header_inthenews.jpg?Status=Temp&sfvrsn=2" alt="header_InTheNews" />Joleen Oerman, PayScale The <a href="https://www.payscale.com/compensation-trends/hr-video-the-great-salary-transparency-debate">trend toward salary transparency</a> is on the rise and continues to be a hotly debated topic. Payscale’s VP of Marketing Tim Low, along with Google’s Senior VP Laszlo Bock, was recently interviewed on the topic.

How to Negotiate a Compensation Package for a New Hire

<img width="610" height="175" src="http://www.payscale.com/cms-images/default-source/Blogs/blogheader7_29.jpg?Status=Temp&sfvrsn=2" alt="BlogHeader7_29" /><a href="http://www.hr-writer.com/" title=" target=" rel="noopener">Tess C. Taylor, PHR, SHRM-CP, PayScale Senior Blogger</a>Hiring great people starts with offering them a competitive work culture and compensation package. PayScale’s <a href="https://resources.payscale.com/hr-2015-compensation-practices-report.html?_ga=1.85339417.1064815136.1433958129" title=" class=" target=" rel="noopener">2015 Compensation Best Practices Report</a> revealed that a top concern for companies is attracting and retaining the best talent. However, the way any human resource manager handles compensation negotiations must be carefully balanced with other factors.

Building Salary Ranges for Beginners, Part 2

<img width="610" height="175" src="http://www.payscale.com/cms-images/default-source/Blogs/blogheader8-5-v2.jpg?Status=Temp&sfvrsn=2" alt="BlogHeader8-5-v2" />By Jenni Marquez, CCP, PayScale Compensation ProfessionalIn our never-ending quest to keep human resource and compensation managers informed and educated about compensation best practices, here is our second part in our two-part series on <a href="https://www.payscale.com/compensation-trends/building-salary-ranges-for-beginners-part-1" title=" class=" target=" rel="noopener">Building Salary Ranges for Beginners</a>. Enjoy!

Compensation trends: Modern perspectives on pay