Compensation trends: Modern perspectives on pay

How Compensation Impacts Your Business

<img width="610" height="175" src="http://www.payscale.com/cms-images/default-source/b2b/header_comp_impacts_biz_main.png" alt="Header_Comp_Impacts_Biz_Main" /> Hedge Stahm, Marketing Segment Manager, PayScale</p><p>Human capital is a company’s most important asset. It’s also typically the largest operating expense, and thus can have a major impact on profitability and overall success. To keep employees engaged and productive, companies must compensate them appropriately—without overpaying them and running the risk of eroding the bottom line.

Regulatory Compliance Dictates HR Best Practices

<img width="610" height="175" src="http://www.payscale.com/cms-images/default-source/b2b/header_compliance_main.png" alt="Header_Compliance_Main" />Tess C. Taylor, CPC, PHR, SHRM-CP, PayScale Senior Blogger</a></p><p>This year, we’ve seen a number of new government rules surrounding pay equity and salary transparency developing. This puts a strain on human resource compensation managers and how they must adapt compensation policies. How well HR can keep up with these changes will dictate the future of compensation planning across all organizations.

Forget Happiness. Wellness Emerges as a Compensation Strategy

<img width="610" height="175" src="http://www.payscale.com/cms-images/default-source/b2b/header_wellness_main.png" alt="Header_Wellness_Main" /><a href="http://www.hr-writer.com/" title=" target=" rel="noopener">Tess C. Taylor, CPC, PHR, SHRM-CP, PayScale Senior Blogger</a><br><p>Employee engagement has been a buzzword in the human resource world for a while. It’s just common sense. When employees are happy and engaged at work they tend to be more productive. Much of this has been focused on employee happiness as an indicator of a solid compensation program – the better employees are paid and the more perks they enjoy; the greater their happiness should be, right? Not so much. Our <a target=" class=" title=" href="https://www.payscale.com/cbpr" rel="noopener">2016 PayScale Compensation Best Practices Report </a>indicates that 73 percent of employers believe they are paying fairly, but only 36 percent of employees agree. Interestingly enough, some employers are shifting to creating overall physical and financial wellness for employees, and earning a better ROI. What’s this all about? </p>

Quality Hires Take Front Stage. What’s the Catch? Paying Them Well

<img width="610" height="175" src="http://www.payscale.com/cms-images/default-source/b2b/header_front_stage_main.png" alt="Header_Front_Stage_Main" /><a href="http://www.hr-writer.com/" title=" target=" rel="noopener">Tess C. Taylor, CPC, PHR, SHRM-CP, PayScale Senior Blogger</a><br><p>You may recall PayScale’s <a target=" class=" title=" href="https://resources.payscale.com/hr-whitepaper-turnover-the-good-the-bad-and-the-ugly.html" rel="noopener">Turnover: The Good, the Bad, and the Ugly</a> whitepaper in which we closely examined the reasons why employees leave otherwise good workplaces, and dispelled some common myths. What matters most to employers is why employees stay, and this comes from certain generational values and desires. For example, our research indicated that for Millennials, flexible working hours supersede starting salaries, but for older workers the chance to put away money in a retirement fund is much more attractive.</p>&lt;/br)

Isn’t that your job? How to help your boss understand why you need a software purchase

<img width="610" height="175" src="http://www.payscale.com/cms-images/default-source/b2b/header_boss_main.png" alt="Header_Boss_Main" /><a href="http://www.hr-writer.com/" title=" target=" rel="noopener">Tess C. Taylor, CPC, PHR, SHRM-CP, PayScale Senior Blogger</a></p><p>Houston, there is a problem. The old way of doing things just isn’t cutting it anymore and you need to make a significant investment in a software solution that will get the job done. But, how can you approach your boss with the idea that the software will make life easier, while increasing business profits – and it’s not always YOUR job to do everything (you are not a robot after all)?</p>

The Free Trap: Why Free Data Is Not All It Is Cracked Up To Be

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?