Compensation Trends for Comp Professionals

SHRM15 Top 3 Takeaways: Big Data, HR Tech, and JHUD

<img src="http://www.payscale.com/cms-images/default-source/Blogs/header_shrm2015.jpg?sfvrsn=0" title="header_SHRM2015">By Ken Roden, PayScale Senior Product Marketing Manager We did it! What a great few (hot) days of sessions and networking at SHRM 2015 in Las Vegas.

Paying employees right: What’s the big deal?

<img src="http://www.payscale.com/cms-images/default-source/Blogs/header_payingemployeesrightbigdeal.jpg?sfvrsn=0" title="header_PayingEmployeesRightBigDeal">By <a href="https://plus.google.com/115301125688955669806?%20rel=author">Crystal Spraggins,</a> SPHR and Katie Bardaro, Director of Analytics and Lead Economist at PayScaleThe President’s proposed changes to the Fair Labor Standards Act (FLSA) are <a href="http://www.reginfo.gov/public/Forward?SearchTarget=RegReview&textfield=1235-AA11" title=" class=" target=" rel="noopener">still under review</a>, but that doesn’t mean you should forget the whole thing (tempting though that may be). Managing pay reactively generally doesn’t result in the best decisions.

Link pay to performance. Like…seriously this time!

<img src="http://www.payscale.com/cms-images/default-source/Blogs/blogheader6_22.jpg?sfvrsn=0" title="BlogHeader6_22"><a href="https://plus.google.com/115301125688955669806?%20rel=author">Crystal Spraggins,</a> SPHR<div> </div>When PayScale asked more than 5,500 business leaders the main reason their companies adjusted pay in 2015, <a href="https://www.payscale.com/cbpr?src=hp_2_cbpr" title=" class=" target=" rel="noopener">52 percent answered "employee performance."</a>

The She-Suite: Attract More Female Executives to Your Company

<img src="http://www.payscale.com/cms-images/default-source/Blogs/header_shesuite.jpg?sfvrsn=0" title="header_SheSuite"><a target="_blank" rel="author noopener" href="https://www.payscale.com/author/tess-c-taylor-phr-the-hr-writer">Tess C. Taylor, PHR, The HR Writer</a><div>Twice as many men than women earn six figures, but less than half of all men report to a female boss – based on recent data found on the PayScale report Women at Work. If companies want to attract the top female executives, they should start by giving them an equal playing field.

Get Onboarding Right for Better Employee Retention

<img src="http://www.payscale.com/cms-images/default-source/Blogs/blogheader6_4.jpg" alt="Employee Onboarding" title="BlogHeader6_4"><a target="_blank" rel="author noopener" href="https://www.payscale.com/author/tess-c-taylor-phr-the-hr-writer">Tess C. Taylor, PHR, The HR Writer</a>The competition for top talent continues to heat up as organizations fight for those who have highly sought after skills. In some industries where growth is the strongest, the search for candidates with the right stuff can take months. Yet, why is it that as quickly as companies secure their best employees, they jump ship?

Conscious Compensation: The Key to Retaining Earnest, Sensitive Millennials

<img src="http://www.payscale.com/cms-images/default-source/Blogs/blogheader5_21.jpg" alt="Millennials Compensation" title="BlogHeader5_21"><a href="https://plus.google.com/102099066436032147105?%20rel=author">Jessica Miller-Merrell,</a> blogging4jobsMillennials are the newest generation to enter the workforce. For many employers, they are still revered as unknown and unpredictable. They are scary and intimidating, different. Because employers don’t understand them, they have not quite fully come to understand how to effectively manage and retain them.

Retention, retention, retention: Employers focus on keeping staff in 2015

<img src="http://www.payscale.com/cms-images/default-source/Blogs/blogheader5_29-(1).jpg?sfvrsn=0" title="BlogHeader5_29 (1)"><a href="https://plus.google.com/u/0/111048221756567587195?%20rel=author">Tessara Smith,</a> PayScaleFor the third year in a row, PayScale’s 2015 Compensation Best Practices Report (CBPR), discovered that employee retention was a top concern among the majority of employers.

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Why retaining employees is now even more important than retaining customers

<img src="http://www.payscale.com/cms-images/default-source/b2b/blogheader5_7.jpg?sfvrsn=0" title="BlogHeader5_7"> <a href="https://plus.google.com/102099066436032147105? rel=author">Jessica Miller-Merrell,</a> blogging4jobs How do you retain customers? Common answers may include creating kickass products, having a strong brand, or having great data to help you beat the competition. But there’s another key to retaining customers and that’s by retaining your employees. Your employees are the framework on which all of your company’s success is built, which is why a company with low turnover is far more likely to be successful than one with high turnover.

The low down on employee turnover

<img src="http://www.payscale.com/cms-images/default-source/b2b/blogheader5_1.jpg?sfvrsn=0" title="BlogHeader5_1"><a href="https://plus.google.com/115301125688955669806? rel=author">Crystal Spraggins,</a> SPHR According to PayScale’s <a href="https://resources.payscale.com/hr-2015-compensation-practices-report.html">2015 Compensation Best Practices Report</a>, the top five reasons for turnover in 2014 were: <ol><li>Employees seeking higher compensation (20.8 percent)</li><li>Personal reasons (20.6 percent)</li><li>Employees seeking advancement elsewhere (17 percent)</li><li>Termination due to poor performance (16 percent)</li><li>Employees seeking different company culture/expectations (9 percent)</li></ol>

Bottoms up! How to reward and retain achievers at all levels

<img title="BlogHeader3_17-2" src="http://www.payscale.com/cms-images/default-source/b2b/blogheader3_17-2.jpg?sfvrsn=0"><a target="_blank" rel="author noopener" href="https://www.payscale.com/author/tess-c-taylor-phr-the-hr-writer">Tess C. Taylor, PHR, The HR Writer </a>It’s easy to focus on the top performing employees in the organization. After all, this is where the magic happens. But what if you spent some extra time evaluating the bottom level of employee performance to see what’s going on there? Perhaps there are some ways to boost performance by incentivizing lower-performing employees, thereby creating a new crop of achievers.

Using nontraditional incentives to motivate your employees

<a href="https://plus.google.com/102099066436032147105? rel=author"></a><img title="BlogHeader3_5" src="http://www.payscale.com/cms-images/default-source/b2b/blogheader3_5.png?sfvrsn=0"> <a href="https://plus.google.com/102099066436032147105? rel=author">Jessica Miller-Merrell,</a> blogging4jobs Without question, cash is the most common (and many would argue the most important) form of compensation. Each year, most employees look forward to increasing their income. The general thought is that after 12 months of good work, an employee is entitled to a raise. This raise is expected to reflect the value the company places on the individual receiving it—or something like that.

No more grumbling: Make performance reviews more productive

<img title="Grumbling" src="http://www.payscale.com/cms-images/default-source/b2b/grumbling.jpg?sfvrsn=0"> <a target="_blank" rel="author noopener" href="https://www.payscale.com/author/tess-c-taylor-phr-the-hr-writer">Tess C. Taylor, PHR, The HR Writer </a>Each year, managers focus on improving the core performance of their teams by evaluating the results of the previous year. This is often referred to as performance review season, and it’s a particularly stressful time for both employees and their managers—and for good reason.

Compensation trends: Modern perspectives on pay

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