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Top 10 Skills Every Compensation Manager Needs

Calculating Employee Turnover

<p> <a class="asset-img-link" href="https://www.payscale.com/content/blog/images/a6a00d8341bf85853ef017744d20c53970d-pi.png"><img alt="Header_InOut" border="0" class="asset asset-image at-xid-6a00d8341bf85853ef017744d20c53970d image-full" src="http://www.payscale.com/content/blog/images/a6a00d8341bf85853ef017744d20c53970d-800wi.png" title="Header_InOut" /></a><br /><strong>Employee Turnover Rates</strong></p> <p>Employee turnover is driven by many factors including inadequate compensation, lack of employee engagement, poor job fit, etc. Whatever the cause, you can easily calculate your company&#039;s rate of turnover. This is a critical benchmark that can help you understand your relationship with your competition and with your employees. You should continually monitor this rate so you can make informed choices in the future. </p>

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"><p><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></p><p>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.</p>

The top 4 problems with pay for performance

<img src="http://www.payscale.com/cms-images/default-source/b2b/blogheader9_4.jpg?sfvrsn=4" alt="Pay for performance image" title="BlogHeader9_4"><p> <a href="https://plus.google.com/115301125688955669806? rel=author">Crystal Spraggins,</a>&nbsp;SPHR </p><p>Pay for performance or <a href="http://www.businessdictionary.com/definition/performance-related-pay.html">performance-related pay</a>, as it’s also called, is a relatively simple concept. Under a performance-related pay philosophy, employees are offered financial incentive for meeting certain predetermined and quantifiable goals. </p>

Keys to understanding the multiple definitions of pay for performance

<p><a target="_blank" rel="author noopener" href="https://www.payscale.com/author/tess-c-taylor-phr-the-hr-writer"><img title="BlogHeader1_7" src="http://www.payscale.com/cms-images/default-source/b2b/blogheader1_7.jpg?sfvrsn=0">Tess C. Taylor, PHR, The HR Writer </a></p><p>To be the best means hiring the best. Without a strong pay-for-performance strategy, however, organizations may fall short of their goals. The question is, does your leadership truly understand the definition of a great pay-for-performance campaign?

Here's why CEOs shouldn’t read performance reviews

<p><a href="https://plus.google.com/115301125688955669806? rel=author"><img title="header_CEOShouldntDo" src="http://www.payscale.com/cms-images/default-source/b2b/header_ceoshouldntdo.png?sfvrsn=0">Crystal Spraggins,</a>&nbsp;SPHR </p><p>I have no idea what it’s like to start and then grow a company to the point of needing your first, and then your tenth, and then your hundredth employee. However, I do know this—somewhere along the way, the successful entrepreneur may find she has become the bottleneck to a number of processes.