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Compensation Analysis Glossary

A compensation analysis, also called salary analysis or pay analysis, is an organization-wide review of how your jobs are classified and compensated. Performing a compensation …

by Stephan Duncan - June 16, 2019
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What Is a Salary Grading Scale?

A salary grade scale is a pay format where employees are placed within a pay level based on their education and work experience. Each job …

by Brett Rudy - June 14, 2019
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Defining the Difference Between Average and Median Salary

Median and average salaries are both measures of central tendency or the “middle of the market” regarding compensation. Many organizations target employee pay at either …

by Brett Rudy - June 5, 2019
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6 Steps to Take Before Creating a Pay Matrix

In today’s war for talent, an increasing number of organizations are leveraging performance-based compensation plans, like bonuses and merit increases, to reward top employees. Research …

by Connor Harrison - June 5, 2019
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4 Comp Tools that Drive Compensation Decisions

Compensation decisions have a major impact on business success, from influencing employee engagement, productivity, recruitment, and retention to affecting profitability and compliance. With so much …

by Candice Wolken - June 5, 2019
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Compensational Professionals and CCP Certification

Earning CCP Certification can be expensive and time-consuming, but often a worthwhile investment. Most compensation professionals view a CCP as a long-term investment that will …

by Sarah Reynolds - June 5, 2019
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5 Ways to Eliminate Salary Compression

Salary compression (also known as “wage compression” or “pay compression”) occurs when employees with different skills and experience are paid similarly. When salary compression occurs, …

by Stephan Duncan - May 23, 2019
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Creating Effective Salary Bands That Fit Your Structure

Salary bands, also known as pay bands, are pay ranges given to groupings of roles. Salary bands’ pay ranges are influenced by geography, cost of …

by Stephan Duncan - May 23, 2019
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Why the Salary Midpoint Formula Is Crucial to Getting Pay Equity Right

The salary midpoint is the middle point of a salary range’s minimum and maximum. The salary midpoint should represent a fair and competitive salary based …

by Stephan Duncan - May 23, 2019
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Do Men Make More Than Women?

No matter where you are in your career, it’s worth considering how pay gaps may impact you and those around you. Women earned just 85 …

by Connor Harrison - May 23, 2019
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Designing Compensation Structures: Which Is Right for You?

A compensation structure (or salary structure) is a hierarchal group of jobs that are assigned to salary ranges within an organization. Salary structures are composed …

by Stephan Duncan - May 23, 2019
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What is Broadbanding in Compensation?

In human resource management, broadbanding is defined as having extremely wide salary bands, much broader than in traditional salary structures. While a typical salary band has …

by Stephan Duncan - May 16, 2019
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Why Is External & Internal Equity in Compensation So Important?

Prioritizing fair pay and closing the gender pay gap are two of the biggest initiatives in compensation today. Implementing processes to sustain fair pay throughout …

by Connor Harrison - May 15, 2019
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Compensation Ratios for HR – Explained!

How competitive are your company’s salaries? How fair is pay among your workforce? A quick way to identify potential problem spots is with compensation ratios. …

by Christopher Fusco, CCP, GRP, SPHR - May 10, 2019
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Human Resources Can Be Your Company’s Most Valuable Asset

Businesses typically spend between 40 to 80 percent of gross revenue on employee salaries and benefits combined, depending on what sector the business is in. …

by Sarah Reynolds - May 10, 2019
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A Beginner’s Guide to Pay Compression

Have you been wondering: “what is pay compression?” It can be tricky to spot, even for seasoned HR pros. It’s time to get a better …

by Stephan Duncan - May 10, 2019
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The Impact of Frictional Unemployment on Your Organization

Frictional unemployment is defined as when a worker is in the process of moving from one job to another. This type of unemployment is generally …

by Candice Wolken - May 3, 2019
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Why Compensation Managers Should Wear Capes

Compensation managers are tremendously valuable to any business. Employee salary and benefit expenses typically represent 40% to 80% of an organization’s gross revenues, and comp …

by Candice Wolken - May 3, 2019

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