Compensation Trends for Comp Professionals

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Tips for writing a salary increase letter

<img width="610" height="175" src="http://www.payscale.com/cms-images/default-source/b2b/header_tipssalaryincreaseletter.jpg" alt="header_TipsSalaryIncreaseLetter"><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>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.

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The best ways to compensate an unpaid intern

<img width="610" height="175" src="http://www.payscale.com/cms-images/default-source/b2b/header_internbonus.jpg" alt="header_InternBonus"><a href="https://plus.google.com/102099066436032147105? rel=author">Jessica Miller-Merrell,</a> 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.

Effective bonus compensation plans for temporary seasonal staffers

<img width="610" height="175" src="http://www.payscale.com/cms-images/default-source/b2b/header_seasonalworkerbonuses.gif?sfvrsn=4" alt="header_SeasonalWorkerBonuses"><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, thousands of companies make the decision to hire temporary workers to augment their human capital resources during peak production cycles and busy seasons. According to the most recent <a href="http://www.dol.gov/dol/aboutdol/history/reich/reports/dunlop/section5.htm" style="line-height: 1.5;">figures</a> from the US Department of Labor Bureau of Labor Statistics, nearly 2 million people are employed as contingency workers in a wide variety of temporary and seasonal assignments. Additionally, organizations in the manufacturing, retail, and hospitality markets rely heavily on the use of temporary and seasonal staffers.

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23 answers about compensation analytics and the ROI of turnover

<img width="610" height="175" src="http://www.payscale.com/cms-images/default-source/b2b/header_roi_turnover.png" alt="header_ROI_Turnover">Mykkah Herner, M.A., CCP, PayScale PayScale recently hosted a wildly popular webinar entitled Compensation Analytics: The ROI of Turnover, presented by me, Mykkah Herner. If you missed the webinar, you are welcome to <a href="http://www.slideshare.net/Payscale/comp-analytics091613" title=" class=" target=" rel="noopener">view the slides</a> from the presentation. Since this is a topic of interest to so many of our Compensation Today readers, we're posting my answers to many of the questions received after this webinar here.

Five good reasons why every organization needs a troublemaker

<img width="610" height="175" src="http://www.payscale.com/cms-images/default-source/b2b/header_goodorganization_bademployee.gif?sfvrsn=6" alt="header_GoodOrganization_BadEmployee"><a href="https://plus.google.com/115301125688955669806? rel=author">Crystal Spraggins,</a> SPHR When is the last time you crafted a job posting that included the phrase “Must be a troublemaker” under “Requirements?” Probably never, right?Well, why not? Your organization needs a few troublemakers. Here are five good reasons why.

3 barriers to successful pay-for-performance implementation

<a href="https://plus.google.com/100452540302428363448? rel=author"><img src="http://www.payscale.com/cms-images/default-source/b2b/istock_000015905900small.jpg?sfvrsn=1" alt="Pay for performance" title="iStock_000015905900Small" sfref="[images]eb40f79a-def5-6347-a9d2-ff00007054ad">Laleh Hassibi, </a>PayScale Today most organizations are either moving toward a pay-for-performance compensation strategy, or at least discussing it. Correlating pay with performance has proven to improve employee retention in many companies, but even so, some detractors of performance-related pay models will tell you that more have been attempted and failed than succeeded.

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Is Compensation at Your Company a Shot in the Dark?

<img width="610" height="175" src="http://www.payscale.com/cms-images/default-source/b2b/header_shotinthedark.jpg" alt="header_ShotInTheDark"/>Chris Schave, <a href="https://www.payscale.com/hr">PayScale</a> Account Executive Throughout my time at PayScale I have had discussions around compensation with hundreds and possibly even thousands of HR Professionals, Managers, and Executives. At this point, I’m not really surprised by a whole lot. Some companies have no compensation plan, structure, or strategy, while others have one, but it’s based on shifty compensation practices. There are actually some who are highly sophisticated and know exactly what they are doing and why they are doing it, but that’s not as common as the other two scenarios.

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5 Ways to Improve Your Compensation Strategy

<img width="610" height="175" src="http://www.payscale.com/cms-images/default-source/b2b/header_corporatewellness.jpg" alt="header_CorporateWellness"/>Tess C. Taylor, PHR Years ago, a college graduate had a long-term future and a pension plan with a single company to look forward to. Nowadays, however, the average life-span of a career is determined by the performance of the company. In uncertain times, working professionals are seeking compensation that’s outside of traditional salaries and retirement perks. They are looking for a <a href="https://www.payscale.com/compensation-trends/compensation-strategies-that-work" title=" class=" target=" rel="noopener noreferrer">compensation strategy</a> that’s based on their individual contribution and competency.

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How Does Your Compensation Model Fit into Maslow’s Hierarchy of Needs?

<img src="http://www.payscale.com/cms-images/default-source/b2b/header_maslow.gif" alt="Maslow heirarchy of needs" title="header_maslow">Jessica Miller-Merrell, <a href="http://www.blogging4jobs.com" title=" class=" target=" rel="noopener">blogging4jobs</a>It can be easy to get caught up in the benefits rat race. You know, keeping up with the Joneses, or in this case, the Joneses, Inc. You probably spend a fair amount of time thinking about what’s in your benefits package, how it measures up against your competitor’s, how to market it to potential employees and more.

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New Guidelines for Restrictive Covenants in Canada

<a class="asset-img-link" href="https://www.payscale.com/content/blog/images/a6a00d8341bf85853ef017d412a62ba970c-pi.png" style="display: inline;"><img alt="Header_RestrictiveCovenantsCanada" border="0" class="asset asset-image at-xid-6a00d8341bf85853ef017d412a62ba970c image-full" src="http://www.payscale.com/content/blog/images/a6a00d8341bf85853ef017d412a62ba970c-800wi.png" title="Header_RestrictiveCovenantsCanada" /></a> Amy Knapp Implications of recent decision Martin v. ConCreate USL Limited Partnership Restrictive covenants are a tricky business. While fundamentally important in some circumstances, they’re notoriously ineffective in others. With the recent rulings on enforcement of restrictive covenants, it's becoming even more apparent that Canadian companies need to develop <a href="http://blogs.payscale.com/compensation/2012/04/vertical-response.html" target="_self" rel="noopener">more compelling strategies to keep talent</a> from going to the competitors.

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CFO Corner: The 2013 Meaning Of Unemployment

<div> <a class="asset-img-link" href="https://www.payscale.com/content/blog/images/a6a00d8341bf85853ef017c3446cb5d970b-pi.png" style="display: inline;"><img alt="Header_Unemploymen" border="0" class="asset asset-image at-xid-6a00d8341bf85853ef017c3446cb5d970b image-full" src="http://www.payscale.com/content/blog/images/a6a00d8341bf85853ef017c3446cb5d970b-800wi.png" title="Header_Unemploymen" /></a> By <a href="http://jackalopejobs.com/">Sudy Bharadwaj</a></div> <div> Although President Barack Obama has been re-elected, our country continues to be divided amid our economic recovery and job growth. With a 7.9 percent unemployment rate in October, Obama is tackling the highest jobless rate of any president in the postwar era. However, things do seem to be looking up in the 2013 unemployment forecast. The <a href="http://www.bls.gov/news.release/empsit.nr0.htm">Labor Department</a> recently reported the nation added 171,000 positions on net in October, with more jobs than initially estimated in August and September. According to the <a href="http://www.nytimes.com/2012/11/03/business/economy/us-added-171000-jobs-in-october.html?_r=1&">New York Times</a>, economists are hopeful that post-election policies in Congress will address fiscal tightening that may increase job and output growth. </div>

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One Person, Two Titles... What?

<a class="asset-img-link" href="https://www.payscale.com/content/blog/images/a6a00d8341bf85853ef017ee5be3d0f970d-pi.png"><img alt="Header_MultipleTitles" border="0" class="asset asset-image at-xid-6a00d8341bf85853ef017ee5be3d0f970d image-full" src="http://www.payscale.com/content/blog/images/a6a00d8341bf85853ef017ee5be3d0f970d-800wi.png" title="Header_MultipleTitles" /></a> Jessica Miller-Merrell, <a href="http://www.blogging4jobs.com" target="_self" rel="noopener">Blogging4Jobs</a> Have you ever worked at a place where you’ve had two job titles? Internally my title is Communication Department Lead III. Publically, I’m the Public Information Officer. What the heck?  This scenario isn’t uncommon in the corporate world. Having both an external, public title along with an internal one is common. Yes, I know it’s completely crazy which is why you are reading this now.  Organizational charts and pay scales demand structure and consistency. We are rooted in processes and <a href="https://resources.payscale.com/Bring-Back-the-Sizzle-compensation-Ebook.html" target="_self" rel="noopener">planning</a> which for companies is a good thing. Marketing and branding outside of the organization have different requirements. The necessity of both often results in one employee having two titles.

Compensation trends: Modern perspectives on pay

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